Brit plc, a leading insurance company, has made headlines with its recent sale. The company was sold for a whopping $1.88 billion, marking a significant milestone in its history.
This sale is a testament to the company's growth and success over the years. Brit plc has been a major player in the insurance industry, offering a range of products and services to its clients.
The sale is expected to have a positive impact on the company's future, allowing it to expand its operations and improve its services. It's an exciting time for Brit plc as it embarks on this new chapter.
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About Brit plc
Brit plc was founded as Benfield & Rea Investment Trust in 1995.
The company went through a significant transformation in the late 1990s, acquiring Stewart Syndicates Limited in 1996 and Wren PLC in 1999, before relisting as Brit Insurance Holdings PLC.
Brit Insurance was acquired by Achilles Netherlands Holdings B.V. in 2010 for £888 million, with the offer being declared unconditional in March 2011.
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Following this acquisition, Brit Insurance was removed from the FTSE 250 Index.
In 2012, Brit announced the sale of its subsidiary Brit Insurance Limited (BIL) to RiverStone Group.
The company had a brief stint as a publicly traded entity, undergoing an initial public offering in March 2014.
In May 2015, Brit was acquired by Fairfax Financial.
Fairfax Buys Insurer for $1.88B
Fairfax Financial Holdings has acquired Brit Insurance for $1.88 billion.
Brit plc has a long history dating back to 2005.
The acquisition marks a significant shift in the company's ownership and direction.
Brit Insurance was founded by Patrick Snowball and Mark Cliffe in 2005.
Fairfax Financial Holdings is a Canadian financial services holding company.
The acquisition is expected to have a significant impact on Brit Insurance's operations and strategy.
Brit plc is a leading specialty insurance group that operates in several countries worldwide.
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Frequently Asked Questions
What does Brit insurance do?
Brit insurance specializes in underwriting and managing complex risks for individuals and businesses worldwide. They provide tailored insurance solutions for unique and high-stakes situations.
How many employees does Brit have?
Brit has 910 employees. Learn more about Brit's team and company culture.
How old is Brit insurance?
Brit Insurance was founded in 1995 as Benfield & Rea Investment Trust and has since undergone significant changes, evolving into the company it is today. The company is now over 27 years old, with a rich history of growth and development.
Sources
- https://www.cbinsights.com/company/brit-insurance
- http://dunyanews.tv/en/Business/261959-Canadas-Fairfax-to-buy-insurer-Brit-Plc-for-188
- https://en.wikipedia.org/wiki/Brit_plc
- https://www.insurancebusinessmag.com/us/companies/brit-415486.aspx
- https://www.financierworldwide.com/fairfax-acquires-brit-in-188bn-deal
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