Brit Moving Reinsurer From Gibraltar To Bermuda
Brit Ltd announced that it is relocating its Gibraltar based reinsurer, Brit Insurance [Gibraltar] PCC Limited, to Bermuda.
“The process is expected to be completed by the end of the year, following which Brit Insurance [Gibraltar] will become Brit Reinsurance [Bermuda] Limited [Brit Re],” the company said.
Matthew Wilson, Brit, CEO, said: “This is a natural move for us as we continue to expand our Bermuda platform, while it is also highly complementary to our continued focus on the US market.”
Mark Allan, Brit, CFO, added: “Bermuda is an important hub for Brit, and its combination of a mature regulatory environment, including Solvency II equivalence, and access to highly qualified and experienced people makes it the right home for Brit Re to support the Group’s longer term strategy.”
