Swiss Re Insurance-Linked Fund Management

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Sussex Capital embarking on “ambitious expansion strategy”, says Denton


Brit Ltd., the specialty insurance and reinsurance company, has ambitious plans to expand its Sussex Capital ILS management and collateralised reinsurance platform, according to Chris Denton, Managing Director of Sussex Capital Management and the Chief Underwriting Officer of Brit Re.

chris-denton-brit-sussex-capitalSpeaking after new hires were revealed last week, Denton explained that they are part of a strategy to build out the insurance-linked securities (ILS) operations at Brit, under the Sussex Capital brand.

The company is calling this the “next phase of growth” for Sussex Capital and the two new hires are both designed to support that, on the capital and risk side, on a global basis.

As we explained on Friday, Cornell Fox has joined Sussex Capital as Head of Investor Relations and Business Development, while Masa Kitade has joined as Head of Business Development for Asia.

The Brit-backed ILS vehicle is looking to “capitalise on its growth potential” in 2022, the company explained.

To drive this ambition, Fox has been hired to focus on leading Sussex Capital fundraising and investor relations activity, while also helping to develop the ILS platform for Brit and to deliver on its overarching strategy.

Meanwhile, Kitade is expected to play a key role in developing the Sussex Capital platform in Japan and Asia more broadly, which means he will be tasked with driving investor relations in that region, while also managing and implementing the Sussex Capital strategy across the Asian continent.

Fox and Kitade will both report to Chris Denton.

It appears the strategy to grow the Sussex Capital Management ILS business is a global one, with Fox and Kitade both coming to the firm with significant connections across the ILS and institutional investor markets.

Denton explained that, “Sussex Capital has an ambitious expansion strategy and significant potential within the ILS market.”

Adding that, “We are delighted to welcome Masa and Cornell to the team as we continue to grow the portfolio and drive the business forward.”

Fox commented, “In just under five years, Sussex Capital has established itself as a well-respected ILS platform in the market.

“With significant demand from investors across the globe for diversifying asset classes, I look forward to working closely with the team to capitalise on this potential, bringing the platform to an even greater number of investors.”

While Kitade added, “Offering investors access to Brit’s industry leading expertise, solutions and client base, I’m looking forward to broadening Sussex Capital’s presence across the Asian market, enabling the region’s ILS investors access to one of the most innovative and highly regarded platforms within the market.”

View details of dedicated ILS fund managers and reinsurers offering ILS style investments in our Insurance-Linked Securities Investment Managers & Funds Directory.

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