Brit

Fairfax’s Watsa: $375mn proceeds from 14% Brit sale are “in case we need it”

Fairfax chairman and CEO Prem Watsa has said the sale of a 14 percent stake in Brit is to ensure the Canadian holding company is financially sound, as it eyes (re)insurance opportunities with pricing increasing as much as 30 percent in some areas.

Brit posts 112.6% CR for 2020 as falls to $234mn FY loss

Lloyd’s second-largest insurer Brit Insurance fell to a 112.6 percent combined ratio for 2020 following another loss-affected fourth quarter.

Higher UW profits contribute to uplift in Q4 earnings at Fairfax

Canadian insurance holding company Fairfax Financial reported improved fourth quarter underwriting profits and a combined ratio for the year that deteriorated by less than a point to 97.8 percent, despite the impact of $668.7mn of Covid-19 losses as well as higher cat losses.

Fairfax to sell 14% of Brit to Omers for $375mn

Fairfax Financial Holdings has revealed a deal to sell a further 14 percent stake in its Brit subsidiary to Canadian pension fund partner Omers for $375mn.

Brit swoops for QBE’s European property and political head McCallister in dual move

Fairfax-owned Brit Insurance has made two senior hires to its London property team, adding QBE’s Ian McCallister and ArgoGlobal’s former head of property Neil Russell.

Brit completes launch of $300mn debut cat bond

Lloyd’s insurer Brit has sponsored its debut 144A cat bond issuance, Sussex Capital UK PCC Limited (Series 2020-1).

Brit names RSA’s Wilkinson as group CFO

Fairfax-owned Lloyd’s insurer Brit has named RSA’s Gavin Wilkinson as group chief financial officer.

Brit’s Ki Syndicate 1618 binds first risk with AmWINS

Brit Insurance’s pioneering follow-only syndicate Ki has bound its first risk with THB, the international arm of specialty wholesale broker AmWINS.

Brit’s Ki onboards Lloyd’s broking partners

Brit Insurance’s pioneering follow-only syndicate Ki has onboarded its first trading partners – including broking heavyweights Aon, Willis Towers Watson and Marsh – in readiness for writing business from January 2021.

Howden backs Brit’s follow-only £310mn syndicate Ki

Brit Insurance’s pioneering follow-only syndicate Ki is partnering with Howden to provide committed capacity on the broker’s London market placements.

Brit posts Q3 CR of 114.0% on Covid and Laura impact

Fairfax-owned Lloyd’s insurer Brit has reported a third-quarter combined ratio of 114.0 percent, a 9.9-point deterioration on the prior year driven by the impact of Covid-19 and losses from Hurricane Laura, which added 10.1 points and 8.7 points, respectively.

Brit to become second largest Lloyd’s insurer in 2021

Brit Insurance will leapfrog a host of Lloyd’s heavyweights to become the second largest carrier on Lime Street in 2021 when measured by gross written premium (GWP), The Insurer can reveal.

Fairfax posts 98.5% Q3 CR despite $360mn of cat and Covid losses

Fairfax Financial has reported a one point deterioration in its third quarter combined ratio to 98.5 percent, including 10.1 points from catastrophe and Covid-19 losses, with Brit the only (re)insurance subsidiary to post a ratio over 100.

Brit’s Ki secures $500mn backing from Blackstone and Fairfax

Fairfax-owned Brit’s follow-only syndicate Ki has raised $500mn of committed capital from PE house Blackstone as well as Canadian parent Fairfax Financial.

OneBeacon buys renewal rights to Brit public entity book

Intact Financial subsidiary OneBeacon has acquired the renewal rights to Brit Global Specialty USA’s admitted ‘First Dollar Package’ public entity portfolio, with Sharon Wright joining as part of the deal.

Brit moves Bermuda casualty book to US; Brit Re head Bonanno exits

Fairfax-owned Brit has parted ways with Joe Bonanno – who has led its Bermuda operations since 2013 – as it transfers its casualty book written on the island to the US, The Insurer can reveal.

Brit posts H1 CR of 106.7% as it books $128mn Covid losses

Fairfax-owned Lloyd’s insurer Brit has reported a combined ratio of 106.7 percent percent for the first six months of the year – a 12.3 deterioration on the previous year – informed by Covid-19 related losses which added 15.7 percentage points to the result.

Fairfax takes $308mn Q2 Covid-19 charge in Brit-driven UW loss

Fairfax Financial reported a consolidated underwriting loss of $13.3mn and a combined ratio of 100.4 percent for the second quarter that included the impact of $308.1mn, or 9.2 points, of Covid-19 losses.

Brit’s Ki names Hearsum as managing director

Brit’s newly launched digital follow-only Lloyd’s syndicate Ki has named former Marsh JLT Specialty digital strategy head Dan Hearsum as managing director.

Brit expands private client offering with Chubb and Hiscox hires

Lloyd’s insurer Brit has continued to bolster its recently launched private client team with the hires of Chubb’s Andrew Thorn and Hiscox’s Alex Brice.

Region

Topics

Events & Conferences

Content Types