Brit appoints Jay Nichols to Boards of Sussex Capital and Brit Re

13-12-2017

Brit Ltd (“Brit” or “the Group”) is pleased to announce that Jay Nichols is to join the Boards of Sussex Capital and Brit Re as Non-Executive Director. He will also become Chair of the Audit Committee of Brit Re and join the Brit Ltd Audit Committee.

Sussex Capital is Brit’s recently launched Bermuda domiciled collateralised reinsurance platform and Brit Re its newly established Bermudian captive reinsurer.

Jay is a well-known and highly respected figure in the insurance industry. Most recently he was CEO of the reinsurance operations of Axis Capital.

Jay previously spent 15 years at RenaissanceRe, culminating as the President of RenaissanceRe Ventures. He was responsible for the formation of DaVinci Reinsurance and Top Layer Reinsurance, as well as numerous sidecars and other joint ventures and strategic investments. Prior to joining RenaissanceRe Jay held various positions at Hartford Steam Boiler, Monarch Capital and the accounting firm of Matson, Driscoll and D'Amico.

Mark Cloutier, Brit, Executive Chairman, said: “The launch of Sussex Capital and establishment of Brit Re are both important milestones in the development of our platform in Bermuda and the appointment of someone of Jay’s calibre to their respective Boards is a strong statement of intention. Jay brings to Brit an impressive track-record within the reinsurance arena, and his experience of working across the capital markets will prove extremely valuable as we continue to build on our Bermuda presence and capabilities. We look forward to welcoming Jay and his contribution as an important Board member for these businesses.”