Brit launches $75mn sidecar Versutus

Brit Insurance has this morning (5 January) unveiled Versutus
Ltd, a new Bermuda-domiciled special purpose reinsurer that will
provide collateralised capacity support for the Lloyd's
insurer's property treaty portfolio for 2015.
Versutus Ltd has entered into a quota share agreement with Brit
under which it will reinsure a share of Brit's existing
worldwide property catastrophe excess of loss portfolio.
The Bermuda-domiciled sidecar will initially be capitalised at
$75mn by a number o