Brit chairman Clive Coates is to announce a positive start to 2004 at the company's annual meeting today.
Coates will tell shareholders that overall, rates are holding up in line with expectations, although the company has seen signs of modest softening in certain classes.
He will also say the company has experienced a period of low claims frequency.
The initiative to develop Brit's UK regional commercial insurance business is proceeding on schedule with the company opening its Leeds office in March, Coates will say.
Brit expects to write some £400m of revenue on this account alone during 2004.
Coates will also announce the successful completion of Brit's capital reorganisation and the subsequent declaration of an early interim dividend payable tomorrow.
