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Brit raised third-party capital funds in 2019, shared fewer losses with investors

Specialty insurance and reinsurance player Brit Ltd. successfully raised new capital for its range of insurance-linked securities (ILS) funds and structures in 2019, while investors had a better year as well as the company shared much fewer losses with them. In reporting its results this morning, Brit's senior executive team explained read the full article →

Brit eyes Sussex Capital expansion, seeing good support ahead of 1/1: Sullivan, Allan

Specialty re/insurer Brit’s collateralised reinsurance fund platform, Sussex Capital, is receiving good support and increased allocations ahead of the January 1st renewals, with the firm dedicated to building and expanding on the Diversified Fund, according to Jon Sullivan and Mark Allan. The Sussex Capital platform has become an increasingly meaningful player read the full article →

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 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 →