Financials

Brit Insurance has provided this page of supplementary information for the benefit of the Group’s stakeholders.

Supplementary Disclosure

Non-Financial Key Performance Indicators (unaudited)

Brit uses an independent survey by Gracechurch Consulting to monitor a number of non-financial key performance indicators. The survey is conducted amongst a representative cross-market sample of London Market brokers.

 

Summary of Key Contracts (unaudited)

During 2011 Brit entered into a five year partnership with Infosys for the provision of a range of key business services. Under this arrangement Infosys provides broad based IT support to Brit, including application maintenance and development, infrastructure support and end user services. In addition, the contract provides for the supply of business processing and support services including credit control, policy processing and coverholder review.

In common with other insurers operating within the Lloyd’s of London market Brit also makes use of premium, policy and claims processing services provided by Xchanging plc under market wide contractual arrangements.

Risk Management

The Group’s Enterprise Risk Management framework is described in detail in the ‘Risk’ section of the Brit website. Further detailed information regarding the nature of risks faced by the Group and the risk mitigation employed is set out in the Brit Syndicate 2987 Annual Report published on the Lloyd’s of London website.