Brit Reinsurance merges its Division

This restructuring has lead to the departure of Jonathan Turner, the Brit Re Chief Executive. In a statement Brit said that he had, "previously indicated to the board his desire to seek fresh challenges and has taken this opportunity to leave the business". They continued, "Under his tenure our relationship with Lloyd's has improved significantly and the SBU under his direction has made excellent returns."

Jason Sykes, Director at High Finance Group the London based insurance recruitment company commented, "This consolidation of company's services appears to be a market trend at the moment. With companies simplifying their structure and consolidating their business to work more efficiently during these tough economic times."

The new Brit Global Specialty will be divided into four separate divisions:
• Long tail insurance will be led by Stephen Moss
• Long tail reinsurance will be led by Simon Bird
• Short tail insurance will be led by John King
• Short tail reinsurance will be led by Jon Sullivan