Brit expands Versutus sidecar to $150mn

Brit has expanded the collateralised reinsurance capacity of its
sidecar Versutus to $150mn, it announced today.
The increased capacity became effective on 1 January, and is a
$40mn increase on the previous capacity level of $110mn. GC
Securities acted as placement agent for the new preference shares
issued by Versutus.
Brit launched Bermuda-domiciled Versutus in January 2015 to
provide collateralised capacity to support the its property
catastrophe treaty portfolio.
Versutus has a quota share a