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Brit’s new Lloyd’s ILS fund is in Bermuda & will feature longer-tailed risks

Demonstrating how challenging it can be to bring third-party capital into the Lloyd's insurance and reinsurance market, Brit's newly launched insurance-linked securities (ILS) fund strategy takes a roundabout route to connect the capacity with the returns of its underwriting in the market.Brit announced the launch of its Sussex Specialty Insurance read the full article →

Brit launches Lloyd’s focused ILS fund, Sussex Specialty Insurance Fund

Specialty insurance and reinsurance firm Brit Ltd. has launched a new insurance-linked securities (ILS) fund strategy designed to allow investors direct access to the returns of its Lloyd's underwriting business.The company calls the Sussex Specialty Insurance Fund the first ILS structure of its kind to offer investors access to the read the full article →

Third-party capital alignment critical, says Brit CFO, as fee income rises

Alignment between insurance and reinsurance company sponsors of third-party capital vehicles with their investor partners is critical, according to Brit's CFO, as the company revealed a more than trebled its underwriting fee income from such activities in the first-half of the year.Specialty insurance and reinsurance firm Brit Ltd. took its read the full article →

Brit hires Drew from Aviva as new Head of Outwards Reinsurance

Specialty insurance and reinsurance group Brit Ltd. has hired James Drew, previously working at Aviva, as its new Head of Outwards Reinsurance.Drew moves into the new outwards reinsurance purchasing role at Brit as of July 1st and will be based in London, reporting to Christiern Dart, Group Chief Underwriting Officer.Drew read the full article →

Brit’s Sussex Capital targets doubling of premiums, ~$250m AuM in 2019

Specialty insurer and reinsurer Brit Ltd. has targeted a doubling of written premiums for its Sussex Capital collateralised reinsurance fund platform in 2019, which would equate to growth to around $250 million of assets under management.We have learned that Sussex Capital has been marketing its insurance-linked securities (ILS) funds in read the full article →

Brit has ambitious plans for its ILS vehicles: Deputy CUO, Jon Sullivan

Specialty insurer and reinsurer Brit has plans to increase its managed capacity and has ambitious growth plans for its range of insurance-linked securities (ILS) vehicles, according to Jon Sullivan, the firm’s Deputy Global Chief Underwriting Officer (CUO).In recent times and despite a more difficult environment, global specialty re/insurer Brit has read the full article →

Brit renews Versutus sidecar for 2019, lifts third-party capital to $440m

Specialty insurance and reinsurance player Brit Ltd. has renewed its Versutus collateralised reinsurance sidecar for 2019 and increased its third-party capital managed to around $440 million as a result.Brit said this morning that it was pleased to announce the successful placement of the Versutus Ltd. 2019 Series of its reinsurance read the full article →

Brit grows third-party capital, expands investor base for 2019

Despite what the firm explains as a "more difficult environment" for fundraising, specialty insurance and reinsurance player Brit Ltd. said it has grown its third-party capital base and added new institutional investors for 2019.Brit's managed third-party investor backed capacity reached $400 million across its Sussex Capital collateralised reinsurance platform, Versutus read the full article →

First UK collateralised reinsurance PCC encouraging to see: LMG

The London Market Group (LMG) said that it is encouraged to see the successful registration and launch of the first UK domiciled protected cell company (PCC) for collateralised reinsurance, as this is seen as the likely driver for future ILS market expansion.As we reported yesterday, specialty insurance and reinsurance firm read the full article →

Brit gets license for a UK collateralised reinsurance PCC vehicle

Specialty insurance and reinsurance player Brit Ltd. has become the first to successfully register and get licensed a multi-use collateralised reinsurance PCC vehicle in the UK, with the launch of Sussex Capital UK PCC Limited.The vehicle will allow Brit and its Sussex Capital insurance-linked securities (ILS) and third-party reinsurance capital read the full article →