Brit combines US operations
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Brit Ltd. said Tuesday it is combining its U.S. service company, Brit Global Specialty USA, and its managing general agent, Ambridge Partners LLC.
London-based Brit said in a statement that the combined entity, which will operate as Ambridge Partners, will create an MGA managing more than $450 million in premium in the U.S. and more than $110 million in premium written by Ambridge’s international affiliates.
Ambridge will trade through three segments, Brit said: Ambridge Transactional, which will include directors and officers liability, intellectual property liability, representations and warranties, special situation contingency and tax; Ambridge Specialty, which will include cyber liability, excess casualty, general liability, professional lines, construction professional and public entity nonprofit; and Ambridge Re, which will consist of casualty reinsurance, political violence and property facultative reinsurance.
Jess Pryor will lead Ambridge as executive chairman, while continuing in his role of executive chairman of Dallas-based Scion Underwriting Managers, which will remain a standalone MGA business, Brit said.
