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Brit to launch collateralized reinsurance platform in Bermuda

Brit Ltd. will launch a new Bermuda-based collateralized reinsurance platform, to be known as Sussex Capital.

The platform is expected to be effective from Jan. 1, 2018, and have an expected initial capacity of $100 million. Through newly established Sussex Re, it will write direct collateralized reinsurance, and also provide collateralized reinsurance to the Fairfax Financial Holdings Ltd. unit's reinsurance portfolio.