Brit expands Property & Packages team
Brit Insurance is expanding its Combined Property and Packages London team with the appointment of Stuart Wolstenholme as Property and Packages underwriter.
Mr Wolstenholme takes up his new role immediately, reporting to Amanda Doran, the team’s underwriting manager, and working closely with brokers to develop and refine the group’s portfolio in this area.
He joins from Zurich Insurance where he was senior market underwriter and responsible for managing a large SME business, specialising in media/SLE.
Commenting on the appointment, Brit’s regional director – London, Paul Dilley, says: “Property and Packages is an important part our portfolio and Stuart’s appointment reflects our team’s strength and drive in this key area.”
He adds: “His underwriting expertise and insight across a wide-range of classes, combined with his managerial skills will be a valuable asset to our London team.”
Brit has also announced that the deadline for Achilles’ offer for the company is being extended until 1 pm (London time) on 12th February 2011.
The recently incorporated Achilles has been formed by private equity firms Apollo Management and CVC Capital Partners, and its offer gives Brit shareholders who accept up to £11 in cash per share, while non-accepting shareholders will receive £10.45 per share in cash, plus a contingent value payment of up to £0.25 per Brit share.
Brit’s board recommended the offer to shareholders in October 2010 but as at 29th January had received valid acceptances of the takeover in respect of only 72.32% of shares held.
Category: Brit Insurance News, Employment News, Insurance News
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