We have a strong ethos of corporate governance and are committed to business integrity, ethics and professionalism.

Brit Group Holdings Limited Board

The Board is primarily responsible for the review and oversight of group strategy. In doing so, it ensures that material risks to achieving that strategy are appropriately managed, and that the group is appropriately capitalised to achieve its objectives. The Board delegates various powers to a number of committees, which are recorded within written terms of reference. A summary of that delegation is outlined below.

Members of the Brit Group Holdings Limited Board and Brit Executive Committee can be seen here

Audit Committee

The Audit Committee is responsible for monitoring the integrity of the group’s financial statements, the effectiveness of the group Internal Control and Internal Audit frameworks, and the relationship with the group’s External Auditor.

Nomination Committee

The Nomination Committee leads the appointment of directors to the Company and material subsidiaries (including Brit Syndicates Limited), and keeps under review succession arrangements for those directors, having regard to the skills, knowledge and experience required to achieve the Brit Group strategy.  Remuneration Committee

The Remuneration Committee is responsible for setting the group’s remuneration policy and executive director remuneration. Remuneration is designed to be fair and to promote the achievement of Brit Group strategy. No director is involved in setting their own remuneration. Executive Management

Besides the functions reserved to the Board or otherwise delegated to committees of the Board, all management functions are delegated to the Group Chief Executive Officer. In turn, the Group Chief Executive Officer delegates authority to the executive team, and operates the Executive Committee to manage that arrangement.

Diversity Policy

Brit recognises the importance of diversity at Board level and that diversity is essential to its long-term success.  We believe that I&D is the responsibility of everyone at Brit to help us reach our vision.

As a Board, we want to lead the way by emphasising our personal commitment to modelling diversity.  By holding the Executive and the Leadership teams to account and providing visible commitment and leadership to I&D, ensuring fair and equitable treatment is achieved.  Our purpose is for everyone to feel respected and valued regardless of gender, age, race, ethnicity, national origin, sexual orientation or identity, disability, education, or any other characteristic.

Our I&D framework is underpinned by an action plan.  We are committed to see this embedded throughout Brit.  The plan will be carefully monitored against progress and, where required, facilitate challenge to ensure success.

This diversity statement complements our overall vision.

We are committed to regularly reviewing the progress we are making including our approach to Board and executive diversity to ensure its continued relevance, effectiveness and alignment with our I&D commitments.

The Board’s annual evaluation will consider its diversity as part of its performance and effectiveness review.

Remuneration Committee

The Remuneration Committee has been delegated responsibility for the determination of the terms and conditions of employment, remuneration and benefits of each of the chairman of the Board, executive directors, members of the executive and the company secretary. The Remuneration Committee also has responsibility for the determination of all aspects of share based incentive arrangements.

Brit Syndicates Limited is an approved Lloyd’s managing agent and its purpose is to manage the affairs of the managed Lloyd's Syndicates. Amongst other responsibilities, the board sets Syndicate 2987's business plans, objectives and strategy, determines and monitors various risk appetites and tolerances, oversees the company's internal model and ensures that it is used to make decisions across the business and approves regulatory returns.

The Committees of the Brit Syndicates Limited Board are the:

BSL Audit Committee

The Audit Committee is mandated to monitor the financial reporting process and system of internal controls surrounding financial reporting and accounting compliance. Amongst other responsibilities, the Audit Committee reviews Brit’s financial statements prior to their approval by the Board and recommends the appointment and dismissal of the external auditors.

BSL Risk Oversight Committee

The Risk Oversight Committee is mandated to approve the Group’s risk management framework, risk management policies and arrangements and internal control policies. Amongst other responsibilities, the Risk Oversight Committee reviews and considers various types of risk, including insurance, operational, credit, market and liquidity risk, as well as the Group’s capital adequacy and governance of the internal control.  

BSL Investment Committee

The Investment Committee is mandated to review, advise and make recommendations to the Board and management to inform the setting of strategy with a view to optimising Group investment performance.

Brit Reinsurance (Bermuda) Limited is domiciled in Bermuda and is a wholly owned subsidiary of Brit Group Holdings Limited. The principal activity of the Company is that of underwriting reinsurance business of Brit Group Holdings Limited. 

The latest Solvency and Financial Condition Report is available by contacting the Company. 

A copy of the Brit Group tax strategy can be accessed here. Brit regards the publication of this tax strategy as satisfying the statutory obligation under paragraph 19(2) Schedule 19 Finance Act 2016 to publish a tax strategy in relation to the financial year ended 31 December 2024. This strategy was approved by the Board of Directors of Brit Group Holdings Limited on 30 October 2024.