Brit expands Versutus sidecar

Brit increased the collateralised reinsurance capacity provided by
its Versutus sidecar by 10 percent at renewal, it announced today
(13 January).
Versutus is capitalised at $82.5mn and began taking risk from 1
January. It will provide reinsurance support to Brit's property
treaty portfolio for 2016.
GC Securities acted as placement agent for the Versutus Series
2016 Notes.
Brit first launched its sidecar on 1 January last year with an
initial capitalisation of $75mn.
Jon Sullivan, head of short