Brit Group Holdings Ltd., the London-based specialty re/insurer, announced the launch of “BRIDGE,” a new cargo consortium.
The consortium, which will be one of the largest consortiums in the cargo market, is now writing business and offers cargo line capacity of up to US$80 million.
Amid ever-growing insurable values, BRIDGE will address a wide range of broker and client needs providing comprehensive cover and protection for cargo risks around the globe, Brit said.
“BRIDGE is the latest consortium launched by Brit and another demonstration of leadership across our core classes. By bringing together significant capacity BRIDGE will further deepen the relevance of our market-leading cargo offering for brokers and their clients,” commented Jon Sullivan, chief underwriting officer at Brit, in a statement.
“This consortium is an exciting development for us as we continue to enhance our cargo offering. As the value of insurables in the cargo market grows, and supply chains become ever more complex, BRIDGE will allow us to continue to provide high levels of sophisticated and comprehensive coverage for clients, ensuring that they receive the support they need amid evolving market conditions,” according to Louise Crockford, class underwriter, Cargo, at Brit.
A subsidiary of Fairfax Financial Holdings Ltd., Brit underwrites a broad class of commercial specialty insurance with a strong focus on property, casualty and energy business. Its capabilities are underpinned by robust financials.
Source: Brit Group Holdings
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