Brit Insurance, the international insurance and reinsurance group, has today announced the opening of a new office in Richmond, Virginia to underwrite First Dollar package business for the public entity sector.
Effective from 3rd October, the new team forms part of Brit Insurance Services USA, Inc. (BISI), which is the company’s wholly-owned service company based in Chicago, Illinois.
Nicholas Davies, Executive Vice President of BISI explains:
“Since establishing a US presence in 2009, our Chicago-based Public & Non-Profit Sector team has enhanced our long standing reputation as a market of choice in this specialised sector. Our existing Self Insured Retention product offers broad coverage for property, liability and worker’s compensation in a single all lines aggregate policy tailored for U.S. public entities, schools, religious and higher education institutions. The addition of a dedicated First Dollar team, who will market the product through a network of retail brokers, allows us to expand our Public & Non-Profit Sector scope to smaller Public Entities geared more towards purchasing a standard deductible package policy. This new client base will benefit from the local underwriting, claims and loss control services we now offer through our US platform.”
The Richmond office will (subject to Lloyd’s approval) underwrite on behalf of Brit Syndicate 2987 at Lloyd’s and will be headed by Sharon Wright who will report directly to Nicholas Davies. With over 30 years’ experience, Sharon is moving to Brit Insurance from HCC where she was Senior Vice President of Public Risk Eastern Division. To complete the team, four other colleagues will be joining Sharon from HCC.
Matthew Wilson, CEO of Brit Insurance’s Global Markets business commented:
“We are delighted that Sharon and her colleagues are joining us. Their experience and expertise allows us to complete our already extensive range of products for US public entities. Under Nicholas Davies’ leadership our Chicago-based team increased revenues by 40% in 2010 and we look forward to our colleagues in Richmond contributing to its further growth and enhancing the service that we deliver to brokers and clients across the US.”
Notes to Editors
About Brit Insurance
Brit Insurance is an international general insurance and reinsurance group specialising in commercial insurance. The Group writes a diverse portfolio of insurance and reinsurance, offering worldwide protection. The scope is wide-ranging: from sole traders to the largest multinational corporations; from manufacturers to professional services; from shops to satellites. Our distribution model is centred on brokers and intermediaries. Reflecting where our customers trade, we are organized into three strategic business units – Global Markets, UK and Reinsurance – which have access to our underwriting platforms including Brit Insurance Limited and our Lloyd’s syndicate, Brit Syndicate 2987.