The Benfield Group said the weakness of the US dollar would affect its results in the US as well as those of its international operations.
It said reported 2003 revenues, on a constant currency basis, were expected to achieve the rate of growth anticipated at the time of the recent initial public offering.
Benfield said it expected to achieve the improved level of trading margin that was also anticipated at that time.
It said its US division had continued to perform well with further growth from property and casualty placements.
Despite the impact of the weakened dollar, Benfield said its international division had continued to demonstrate steady progress.
Market conditions in casualty classes remained strong although there was some pressure on rates in property classes, said Benfield.
It said 2004 showed good opportunities for further growth in revenue and margin and further improvement in market position.
