Brit Insurance Holdings

Brit did not renew any of its catastrophe retrocessional business, even though it is now priced much more attractively. However, this is not a permanent exit. Brit’s management is looking at the opportunities offered by a ‘side car’ arrangement

The narrative, repeated in countless insurance company annual reports, is by now a familiar one. Two thousand and five started out fairly benignly in terms of claims experience and that most insurers assumed that the previous year’s events were a one off. But the situation changed fundamentally towards the end of the year.