Brit
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The carrier booked a fourth-quarter combined ratio of 88.3%. -
The senior energy underwriter exited amid a strategic pivot at the MGA.
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The CEO speaks on portfolio remediation and the future of the lead-follow model.
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The executive’s career includes stints at Acappella and Amlin.
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The Build consortium will target sectors including renewables, power, waste to energy, infrastructure and innovation.
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The class exit comes after it emerged in November that Brit had withdrawn from the space market.
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The follow-only algorithmic syndicate has stamp capacity of $925mn for next year.
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The carrier previously led a space consortium for 25 years and co-launched a Lloyd’s-backed space consortium with Hiscox MGA in 2019.
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Brit’s combined ratio shed 23.4 points to return to a profitable 94%.
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He will be succeeded by Jon Sullivan, currently deputy group CUO and active underwriter for Syndicate 2987.
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The class underwriter has spent more than two decades with Brit.
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As the algorithmic syndicate has diversified its capital base, the risk-modelling world provides a parallel with regard to how these initiatives could develop.
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