Brit in US underwriting launch

Brit Insurance has launched a new US service operation, Brit Insurance Services (USA), based in Chicago, Illinois.

This new underwriting unit, which is due to commence business shortly subject to Lloyd’s and US regulatory approval, will act as a conduit to service business locally on behalf of Lloyd’s Syndicate 2987, managed by Brit Syndicates Limited.

Brit Insurance Services (USA) will be headed by Nicholas Davies, formerly of Brit Insurance, who returns after two and a half years at Western Re. Davies will be joined by Andrew Murnieks, currently in Brit Insurance’s Global Markets team.

The operation was conceived in conjunction with A J Gallagher (UK) with the purpose of broking and underwriting public entity and religious package business at source.

David Ross, A.J. Gallagher (UK) CEO, said: “Brit Insurance and Gallagher (UK) have partnered to make this concept a reality. Our desire to drive operational efficiency into a programme that has been in the London market for over 40 years has resulted in Brit Insurance establishing a foothold in the US for us to trade with locally.”

Matthew Wilson, chief executive of Brit Global Markets, said: “Brit Insurance continues to be at the forefront of operational reform in the Lloyd’s and London market.

"This latest move follows the successful establishment of our unique North American claims and data management hub in Atlanta, Georgia in 2008. It further demonstrates our desire to work with our London brokers to lower the market’s cost base without the need to disintermediate, and that indeed is a unique combination.”