Specialty insurance and reinsurance firm Brit Ltd. is to relocate its Gibraltar domiciled reinsurer Brit Insurance (Gibraltar) PCC Limited, to Bermuda.
After the process of moving the reinsurer’s domicile is complete, Brit said that its Brit Insurance (Gibraltar) company will be renamed to Brit Reinsurance (Bermuda) Limited (Brit Re).
Matthew Wilson, Brit, CEO, commented, “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, also said, “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.”
