Brit Insurance Holdings has announced that all its household insurance business will be underwritten by its FSA regulated subsidiary Brit Insurance Ltd (BIL).
It said the move was in line with its previously stated strategy of moving UK business from its Lloyd's Syndicate, 2987, to the FSA-regulated BIL.
Brit said that, apart from the change to the insuring entity within the Brit group, there would be little change for policyholders. It said all business would be underwritten and administrated by the same team.
BIL chief executive Dane Douetil said: "The regulatory regime makes Brit Insurance Limited the most effective vehicle through which to underwrite our household insurance account. Additionally, policyholders will benefit from the strong security ratings of the company."
