Brit Insurance Holdings has issued $15m of loan notes of a new pooled debt facility.
Brit said the facility was designed to qualify as regulatory insurance capital under new European-wide financial guidelines due to be implemented in 2005.
The notes will be listed in the Irish Stock Exchange.
Chief financial officer Matthew Scales said the issue tested an innovative way for a UK insurance company to raise long-term finance in anticipation of the changing requirements for regulatory capital.
“This gives us the potential for additional flexibility at a time when our ongoing policy is to return cash to our shareholders,” he said.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
