Brit's launch of Sussex Re was not influenced by the timing of
last year's losses but was set up to build on its existing
sidecar business, Brit CFO Mark Allan told Trading
Risk.
"Versutus [the firm's quota share sidecar] was growing and
developing nicely," he said, adding that it varied the
firm's source of reinsurance support.
However, Sussex Re will balance quota share reinsurance for its
Lloyd's sidecar with direct collateralised reinsurance written
specifically for the vehicle.
"We feel that...
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