Brit 2015 profit slumps on poor investment performance

Brit's full-year pre-tax operating profit fell from $232.9mn to
$91.7mn year-on-year in 2015, after the Lloyd's carrier's
investment return slumped and underwriting profits declined.
The investment return fell to just $10.3mn for 2015, compared to
$115.7mn in 2014.
CEO Mark Cloutier said the company had restructured its
investment portfolio to reduce credit exposures, increase exposure
to government debt and extend the duration in risk-free assets.
"This revised strategy takes a long-term view o