BRIT appoints Ward as chairman

Brit Insurance Holdings BV has appointed Dr Richard Ward as chairman of the company and of Brit Syndicates. Dr Ward will assume the position, subject to regulatory approval, when he steps down from his current position as chief executive of Lloyd’s on February 1 2014.

“Over the past three years we have transformed Brit into a global specialty insurer and re-insurer operating solely through our Lloyd’s of London platform,” said Mark Cloutier, Brit Group chief executive officer. “Richard’s experience and understanding of the global marketplace is second to none and I am extremely pleased he will be bringing his great depth of experience and knowledge to Brit. I would also particularly like to thank those Board members who have taken on additional board responsibilities during the past few months as we have carried out the search for a chairman.”

Ward added: “Brit is evolving into a world leader in specialty insurance. Mark and the team have done a great job reshaping the business in recent years, and I very much look forward to playing a part in their continuing international success.”