Brit has expanded the capacity from its Versutus sidecar by a third to $110mn for 2017, it announced today.
The Bermuda-domiciled special purpose insurer raised $82.5mn of capital last year but has secured further funds from existing and new investors for this year.
Versutus will continue to provide collateralised reinsurance support for Brit's property treaty portfolio for 2017.
Jon Sullivan, head of short-tail reinsurance at Brit, said the sidecar would offer continued access to Brit's underwriting capabilities and diversified distribution...
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