Global specialty re/insurer Brit Limited has made a strategic investment in Sutton Special Risk, a Managing General Underwriter (MGU) specialising in Accident & Health (A&H).
Brit states the investment offers attractive exposure to an MGU experiencing rapid growth and a strong presence in Canada and the U.S.
“We are delighted to announce our investment in Sutton. Greg Sutton and his team have built a profitable business with a highly regarded specialist offering, well-established in Canada and now in the US and London,” said Matthew Wilson, Chief Executive Officer, Brit.
Founded in 1978, Sutton underwrites Accident, Health & Special Risk products with a team of 40 employees based in Toronto, New York and London. It has projected premiums for 2019 of over CAD$60m.
“This investment is also closely aligned to our strategy of broadening our global distribution network, while Sutton’s 40 year heritage as a leading London Market coverholder also reflects our confidence in our Lloyd’s platform,” added Wilson.
Sutton will retain its independence, continuing to underwrite as an MGU on behalf of its existing broad panel of Lloyd’s syndicates and international carriers.