History

The Brit History Timeline

1995

The Benfield & Rea Investment Trust is launched in November 1995 on the London Stock Exchange

1996

Acquires HCG Lloyd's Investment Trust for £81.5 million

Brit in a joint venture with Electra Fleming acquires Stewart Syndicates Limited a Lloyd's managing agency with four syndicates with underwriting capacity of £208 million

1997

Brit Increases its stake in Wren PLC to 26.8%

1998

Brit acquires 29.9% of Benfield Re with an option to acquire the remaining 70.1%

1999

Brit dispenses with its investment trust status and is re-listed as Brit Insurance Holdings PLC

Acquires the 73.2% of Wren PLC that it did not already own

Acquires the remaining 70.1% of Benfield Re which is re-named Brit Insurance Limited

2000

The Group's Lloyd's underwriting was all transacted through Brit UW limited

The syndicate capacity Wren Underwriting Agencies Limited and Wren Capital Management Limited closed were closed

2001

BIL rated A by Fitch and A- by AM Best

Merger of syndicates 250, 735, 800 and 1202 into one Composite Syndicate 2987

Post September 11th, raised £154 million (net of expenses)

2002

Entry by the Company into the FTSE 250

Raised £202m (net of expenses) additional capital through an Open Offer to increase underwriting capacity

2003

Gross written premiums for 2003 exceeded £1bn

Brit acquired PRI Group PLC, providing an additional £120m capital

Brit Insurance Limited (BIL) was upgraded to A (excellent) by A M Best. One of the few upgrades to have been granted

2004

The Group’s underwriting operations were re-organised into 3 underwriting centres: LondonMarket, Reinsurance and UK and opens a UK network of regional offices.