Brit confirms its commitment to yacht market

Company responds to press speculation

Brit confirms its commitment to yacht market

Insurance News

By Ryan Smith

Brit Global Specialty USA (BGSU) has affirmed its commitment to the US yacht market in response to recent reports of a departure from the yacht insurance space by Brit Ltd (Brit).

“Following recent press speculation as to the future of our London-based yacht business, we want to affirm our commitment to the US yacht market through our US-based service company, BGSU,” said Nick Davies, president of Brit Americas.

“As an admitted product targeting much smaller average hull values and distributed to US-based clients, our strategy is very different to that offered under the traditional London-based model. To that extent, yacht and our broader US-based marine offering remain an integral part of BGSU’s platform as we continue to pursue profitable growth.”

“Brit has a long track record and a strong pedigree in the marine market,” said Brit CEO Matthew Wilson. “Under Tom Carroll’s leadership we have quickly established a highly respected team in the US offering yacht, cargo and hull to US-based producers for business not traditionally accessed by the Lloyd’s market. We are dedicated to delivering this expertise and service to our brokers and clients locally.”


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