Brit
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Brit cut premiums by 2.5 percent compared to the prior-year quarter.
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Property fac-focussed Brickell Underwriting Agency will open in early November and begin writing risks from 31 December.
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The rating agency cited the reinsurer’s balance sheet strength and parental support in its decision.
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Withdrawals from US inland marine, yacht and prison insurance follow a trend set in the London market.
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The withdrawal from US criminal justice insurance follows retreat from Latin American and marine lines. -
The class exits follow the closure of the carrier’s Miami office.
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The Lloyd’s insurer will carry on writing LatAm business from London.
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The Fairfax unit also posts sharply higher underwriting profit, with an absence of 2017 and 2018 loss creep.
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James Birch joins from Hambro Perks, where he led the establishment of the InsurTech incubator in 2017.
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Garick Zillgitt and Justin Magee will be vice presidents of primary general liability and excess casualty respectively.
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James Patterson and Ryan Mimmo will join the team headed up by Jeff Norton.
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Paolo Cuomo has a remit to develop Brit’s response to the Future at Lloyd’s initiative.
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