Brit Reinsurance (Bermuda) Limited ("Brit Re") has announced that it plans to expand its U.S. reinsurance portfolio in 2020.
In a statement, the company explained that it will write a portfolio of U.S.-based casualty excess of loss business, consisting of workers' compensation, general casualty, and casualty clash exposure.
The company added that Joe Bonanno will continue as chief underwriting officer and that Karl Grieves will continue as finance director. They will develop Brit Re's underwriting strategy and operations.
Mark Allan, the chief financial officer of Brit Ltd, Brit Re's parent company, said, "We have built out the capabilities of Brit's Bermuda operation significantly over the last few years with our growing treaty presence, the redomiciliation of Brit Re, and the launch of our ILS platform, Sussex Capital." He added that he is "excited about the potential for Brit Re and look forward to continuing to work with Joe and Karl as they grow the business."
Victoria Spears
Victoria Prussen Spears is senior vice president of Meyerowitz Communications Inc., a law firm marketing communications consulting company. A graduate of Sarah Lawrence College and Brooklyn Law School, Ms. Spears was an attorney at a leading New York City law firm before joining Meyerowitz Communications. She may be contacted at [email protected].