Fitch places Brit UK on negative watch
Brit Insurance Ltd (BIL) has had its "A" Fitch financial strength rating placed on rating watch negative following its parent's decision to sell renewal rights to rival QBE and put the legacy business into run-off.
Private equity-controlled Brit Insurance Group put its UK regional business up for sale last year, but on 3 April announced that it had instead sold its renewal rights and was keeping the UK company.
The insurer said in a statement that it was now reviewing...
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