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Brit increases reinsurance expenditure

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Lloyd's of London insurer Brit Ltd. increased its reinsurance expenditure by $62.6 million – or 22.6% of gross written premiums – on reinsurance or retrocessional coverage to $432 million in 2016, Artemis.bm reported. "The increase in expenditure is principally driven by the increased use of quota shares to manage our net exposure in the current soft market conditions, partially offset by savings on other areas of the program," Brit said.

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