The agreement is for predominantly legacy years of account on certain classes and certain discontinued classes of business underwritten by Brit Syndicate 2987 and is effective from 1 October 2021.

The agreement will see RiverStone’s Syndicate 3500 indemnify Brit against potential adverse development in respect of net liabilities, valued at approximately $380m. RiverStone will assume all claims handing responsibility for the transferring business.

Gavin Wilkinson, Brit Group CFO, said: “We are pleased to complete this LPT with RiverStone which provides Brit with certainty of exit on discontinued lines and reduces exposure to US Casualty claims inflation. This agreement builds on the previous reinsurance agreements between Brit and RiverStone in 2014 and 2018, leveraging the strong relationship between us. We look forward to working with RiverStone over the next few months as we transition the claims management to their teams.”

CVC acquired RS International on 23 August and therefore S3500 is no longer part of the Fairfax group.

Amynta Group Completes the Acquisition of Ambridge Group from Brit, a subsidiary of Fairfax

11-05-2023 |Brit Group

Unaudited full year results for the year ended 31 December 2022

17-02-2023 |Financials

Amynta Group Acquires Ambridge Group from Brit a subsidiary of Fairfax

09-01-2023 |Brit Group

Brit expands A&H team with underwriting hire

04-10-2022 |Brit Group

Matthew Wilson resumes role as Brit CEO

09-09-2022 |Brit Group

A Fairfax Company

We Brit Insurance Services USA, Inc. d/b/a Brit Global Specialty USA, are a service company that is part of the Brit Global Specialty group of companies. We are regulated by state departments of insurance in our capacity as a Managing General Agent. We have authority to enter into contracts of insurance on behalf of the Lloyd’s underwriting members of Lloyd’s syndicates 2987 and 2988 which are managed by Brit Syndicates Limited. This material is intended to provide general information about Brit Insurance’s products and services. It is neither an offer to sell nor a solicitation to purchase any specific insurance product. Coverage may not be available in all US jurisdictions and are subject to legal and underwriting requirements. Any availability is on a surplus lines basis only through duly licensed producers. Inquiries about the products and services described herein should be directed to producers duly licensed in the relevant US jurisdiction.