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Member, Beacon International Group, Ltd.
Brit P.L.C. has appointed Matthew Wilson to the newly created role of group deputy CEO, the Lloyd's of London insurer announced Wednesday.
Mr. Wilson currently is CEO of Brit's global specialty arm.
“Matthew has been with Brit for over 15 years and is the ideal candidate to work alongside me to drive the business forward in the next chapter of the Brit story,” said Mark Cloutier, Group CEO of Brit, in a statement.
Brit, which Toronto-based Fairfax Financial Holdings Ltd. plans to buy for about $1.88 billion, also on Wednesday announced a post-tax profit of £139.0 million ($214.0 million) for 2014, a 39.7% increase over 2013.
Mr. Cloutier said the increase was driven in part by improved investment returns.
Brit posted a combined ratio of 89.5% for 2014, compared with 85.4% for 2013, and investment income of £75.7 million ($116.6 million) a 38.4% increase over 2013.
Brit's gross written premiums increased by 9.2% to £1.3 billion in 2014.