Fairfax’s Brit sells ‘fast growing’ MGU operations for $400m

Specialty re/insurer Brit, a subsidiary of Fairfax Financial Holdings, has agreed to sell its “fast-growing” MGU operations to Amynta Group, which comprises a number of warranty, managing general agent (MGA) and specialty risk companies, for $400 million. The deal will enable Brit to focus its strategic priorities on its core underwriting and digital capabilities.