Brit Introduces Direct & Facultative Property Solutions in Bermuda

Brit Group Holdings Ltd. has announced an exciting new venture: it will begin writing property direct and facultative business in Bermuda through its subsidiary, Brit Re. This strategic move marks a significant expansion for the company, allowing it to tap into the growing insurance market in Bermuda.

Starting in January, Brit Re will focus on writing both US and Global Property Direct & Facultative (D&F) business, with a particular emphasis on complex risks based in the United States. The core appetite for this new offering will encompass a variety of sectors, including industrial, manufacturing, and realty risks, among other industry verticals. This diverse focus aims to address the unique challenges and opportunities present in these markets.

The initiative will be spearheaded by Tom Ayton, who has recently relocated from Brit’s London office to take on the role of Vice President of Property D&F. Ayton brings a wealth of experience to the position, having been with the Brit group since 2021 and previously holding property D&F underwriting roles at Agora and Markel. His expertise is expected to be instrumental in establishing Brit Re’s presence in Bermuda.

Jonathan Stephenson, the head of Brit Re’s office, commented on the expansion, stating, “The commercial insurance market in Bermuda continues to expand, and we believe Brit’s brand, financial strength, and reputation make it well placed to be part of this.” He further emphasized that establishing a property D&F proposition was a natural and planned strategic next step in executing Brit’s growth strategy in Bermuda. “We look forward to joining other market participants in supporting this growing segment of Bermuda’s vibrant insurance and reinsurance industry,” Stephenson added.

About Brit

Brit has a significant presence in Lloyd’s of London, recognized as the world’s specialist insurance market provider, and boasts extensive US and international reach. The company underwrites a broad array of commercial specialty insurance, with a strong focus on property, casualty, and energy sectors. Brit is a subsidiary of Fairfax Financial Holdings Ltd., further solidifying its position in the global insurance landscape.

Topics
New Markets
Property

Brit Group Holdings Ltd. has announced an exciting new venture: it will begin writing property direct and facultative business in Bermuda through its subsidiary, Brit Re. This strategic move marks a significant expansion for the company, allowing it to tap into the growing insurance market in Bermuda.

Starting in January, Brit Re will focus on writing both US and Global Property Direct & Facultative (D&F) business, with a particular emphasis on complex risks based in the United States. The core appetite for this new offering will encompass a variety of sectors, including industrial, manufacturing, and realty risks, among other industry verticals. This diverse focus aims to address the unique challenges and opportunities present in these markets.

The initiative will be spearheaded by Tom Ayton, who has recently relocated from Brit’s London office to take on the role of Vice President of Property D&F. Ayton brings a wealth of experience to the position, having been with the Brit group since 2021 and previously holding property D&F underwriting roles at Agora and Markel. His expertise is expected to be instrumental in establishing Brit Re’s presence in Bermuda.

Jonathan Stephenson, the head of Brit Re’s office, commented on the expansion, stating, “The commercial insurance market in Bermuda continues to expand, and we believe Brit’s brand, financial strength, and reputation make it well placed to be part of this.” He further emphasized that establishing a property D&F proposition was a natural and planned strategic next step in executing Brit’s growth strategy in Bermuda. “We look forward to joining other market participants in supporting this growing segment of Bermuda’s vibrant insurance and reinsurance industry,” Stephenson added.

About Brit

Brit has a significant presence in Lloyd’s of London, recognized as the world’s specialist insurance market provider, and boasts extensive US and international reach. The company underwrites a broad array of commercial specialty insurance, with a strong focus on property, casualty, and energy sectors. Brit is a subsidiary of Fairfax Financial Holdings Ltd., further solidifying its position in the global insurance landscape.

Topics
New Markets
Property