Brit expands sidecar to $110mn

Brit has renewed and increased the collateralised reinsurance
capacity provided by its Versutus sidecar by 33 percent, it
announced today.
The Bermuda-domiciled special purpose insurer will be
capitalised at $110mn in support of Brit's property treaty
portfolio for 2017.
Funding has been secured from renewal and new third party
capital partners accepting risk from 1 January 2017. GC Securities
acted as placement agent.
Jon Sullivan, head of short-tail reinsurance at Brit, said the
sidecar would