PRI's warranty and indemnity underwriting team will not be joining Brit as part of the companies' integration.
It is understood the team, headed up by the ex-special risks services underwriter Eddie Barnes, with Angus Ogg, Mary O'Neill and Ann-Catherine Grant, were told last week. Barnes will stay to complete the run-off of the business but will then leave, according to Brit.
Warranty and indemnity insurance represented around 1% of PRI's projected gross income for 2003. A Brit statement said: "After review, Brit has decided that warranty and indemnity insurance does not form part of its strategy and has withdrawn from this class."
