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BRIT

  • Hipgnosis snaps up rights to music catalogue of Eurythmics co-founder Dave Stewart

    Music royalties investment firm Hipgnosis has bought the rights to more than 1,000 songs written by Eurythmics co-founder Dave Stewart. Read more: One Media IP shares jump as streaming boosts profits The songwriter and record producer is best known as one half of pop group Eurythmics, which he formed in 1980 with eight-time Brit Award [...]

  • Software developers beat average UK salary by 154 per cent

    Top developers earn 154 per cent more than the average Brit, a report released today has revealed, with blockchain fuelling a rise in employer demand for such skills. Read more: Blockchain oil firm taps former JP Morgan director as new chief Software supremos command an average salary of £71,000 a year compared with the UK [...]

  • Insurance sector to be hit by M&A fever as Fairfax buys Brit

    Analysts said yesterday that Brit’s acquisition by Canadian firm Fairfax Financial Holdings could be the precursor to other deals set to sweep the insurance market. Shares in Brit jumped by 11.23 per cent following the news that Fairfax had made an offer of £1.22bn that has been agreed by private equity owners CVC and Apollo, [...]

  • Canadian firm Fairfax to buy insurer Brit for £1.22bn

    February 17, 2015

    Shares in insurer Brit soared more than 10 per cent this morning, after Canadian financial services firm Fairfax revealed plans to buy the insurer for £1.22bn less than a year after it went public.    Last night it emerged private equity owners CVC and Apollo were looking to offload the business, which specialises in underwriting [...]

  • Apollo and CVC look to sell off Brit insurance

    February 16, 2015

    Insurance company Brit is close to  being sold off by its private equity owners CVC and Apollo, it emerged last night. Brit, a Lloyd’s of London insurer that  specialises in underwriting complex  products such as kidnapping insurance, is attracting several parties, including at least one from the US.   Update: To read the details of [...]

  • Brit Insurance profits dive after IPO costs eat into earnings

    August 13, 2014

    Brit Insurance group reported an 18 per cent slump in the first-half profits yesterday, led lower by costs related to its initial public offering (IPO) this year. The Lloyd’s of London insurer which specialises in casualty, property and energy insurance, said profits for the first half of 2014 were down to £62m, compared to £75m [...]

  • Bumper year for Brit as profits soar by 20 per cent to £101.7m

    February 17, 2014

    SPECIALIST insurer Brit has delivered solid results for 2013 in its second year of trading after refocusing the business. Profit after tax was £101.7m for the year, up by 20 per cent from £84.7m in 2012. The insurer cited strong underwriting performance as the reason for a bumper 2013. Group chief executive Mark Cloutier said [...]

  • Brit Insurance eyes stock market return as new chair takes helm

    February 2, 2014

    BRIT Insurance, the outgoing sponsor of the England cricket team, is understood to be lining up advisers to run the rule over the business ahead of a potential stock market return this year. The firm, based in the Netherlands but with a huge presence in the Lloyd’s of London market, could be valued at over [...]

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