Sussex

Sussex

Brit launched Sussex Capital Management Limited (SCML) on 1 January 2018 as a collateralised reinsurance platform domiciled in Bermuda.

Strategic Rationale

The launch of Sussex Capital further enhances Brit’s client and broker proposition. It gives capital partners access to Brit’s strong underwriting capabilities and diversified global distribution, while increasing Brit’s relevance and capabilities for its clients.

 

Structure

Sussex Re and Sussex UK

  • Sussex Re launched in January 2018 as a Bermuda based special purpose insurer and segregated account company through which Sussex Capital writes a portfolio of collateralised reinsurance and retrocessional business.
  • Sussex Capital UK launched in October 2018 as the first truly multi-purpose vehicle given permission by the PRA (under the UK’s new Insurance-Linked Securities (ILS) regime) to write general collateralised reinsurance. Sussex Capital UK places both Sussex Capital and Brit at the forefront in being able to respond to demand in the UK ILS market as it evolves over the long term

Sussex Capital Management, a wholly-owned subsidiary of Brit, acts in the capacity of underwriting agent with full binding authority over Sussex Re and Sussex UK. Sussex Re and Sussex UK are both administered by the Horseshoe Group.

 

Risk Appetite

Sussex Capital is focused on property catastrophe risk on a non-proportional and proportional basis. The proportional component consists of a whole account quota share across all of the property catastrophe treaty business underwritten by Syndicate 2987, Brit’s wholly-aligned Lloyd’s Syndicate. The Syndicate 2987 property treaty portfolio is principally targeted at global hurricane and earthquake risks, weighted toward the US, and can be occurrence or aggregate. The non-proportional component of the portfolio, while also fully aligned with the Syndicate strategy, writes deals directly from the Bermuda platform.

 

Brit and Fairfax Advantage

  • Supported by industry leading Independent Board and experienced Executive team
  • Global distribution capabilities across London, Bermuda and US markets
  • Access to business through 200+ long-standing client and broker relationships
  • Access to both rated and collateralized business
  • Building on the established Brit and Fairfax Group infrastructure – Pricing, Claims, Data, Analytics, Technology and Operations

 

Our Team

Jay Nichols
Non-Executive Director, Sussex Capital 
Adam Champion
SVP Portfolio Management, Sussex Capital
Graham Pewter
Non-Executive Director, Sussex Capital
Jon Sullivan
Brit, Deputy Chief Underwriter
Mark Allan
Brit, Chief Financial Officer
Chris Denton
Brit, Group Head of Financial Strategy
Richard Slater
Underwriting Director, Sussex Capital
Paresh Thakrar
Brit, Commercial Director

 

Contact

Sussex Capital Management Limited

Ground Floor, Chesney House, The Waterfront, 96 Pitts Bay Road, Hamilton, HM08, Bermuda

T: +441 278 0660

Email