Summary - Funding Rounds

Founding Date

1999
Brit Insurance is a subsidiary of Fairfax Financial

Brit Insurance Revenue Breakdown

Embed Graph

Brit Insurance revenue breakdown by business segment: 70.9% from Brit Global Specialty Direct, 17.5% from Brit Global Specialty Reinsurance and 11.6% from Other

Brit Insurance Income Statement

Annual

USDFY, 2016FY, 2017

Revenue

1.7b1.8b

Revenue growth, %

6%

Operating expense total

1.5b1.8b

EBIT

175.0m17.5m

EBIT margin, %

10%1%

Interest expense

18.8m17.1m

Pre tax profit

159.8m5.5m

Income tax expense

2.2m(16.0m)

Net Income

157.6m21.5m

Half Year

USDH1, 2017

Revenue

883.4m

Operating expense total

722.9m

EBIT

160.5m

EBIT margin, %

18%

Interest expense

8.3m

Pre tax profit

153.4m

Income tax expense

13.7m

Net Income

139.7m

Brit Insurance Balance Sheet

Annual

USDFY, 2016FY, 2017

Cash

1.0b1.6b

PP&E

22.9m21.3m

Total Assets

6.0b7.0b

Total Debt

157.5m301.9m

Total Liabilities

4.8b5.9b

Common Stock

6.4m6.4m

Retained Earnings

1.2b1.2b

Total Equity

1.1b1.1b

Debt to Equity Ratio

0.1 x0.3 x

Debt to Assets Ratio

0 x0 x

Financial Leverage

5.2 x6.2 x

Half Year

USDH1, 2017

Cash

1.2b

PP&E

22.5m

Total Assets

6.6b

Total Debt

166.7m

Total Liabilities

5.3b

Common Stock

6.4m

Retained Earnings

1.3b

Total Equity

1.2b

Debt to Equity Ratio

0.1 x

Debt to Assets Ratio

0 x

Financial Leverage

5.3 x

Brit Insurance Cash Flow

Annual

USDFY, 2016FY, 2017

Cash From Operating Activities

651.3m569.0m

Purchases of PP&E

8.3m900.0k

Cash From Investing Activities

19.5m6.7m

Dividends Paid

(90.8m)(45.8m)

Cash From Financing Activities

(167.7m)(26.0m)

Net Change in Cash

464.1m536.3m

Half Year

USDH1, 2017

Cash From Operating Activities

270.3m

Purchases of PP&E

3.8m

Cash From Investing Activities

(3.9m)

Dividends Paid

(45.8m)

Cash From Financing Activities

(53.5m)

Net Change in Cash

212.9m

Brit Insurance Operating Metrics

FY, 2015FY, 2016H1, 2017FY, 2017

COR

91.7%96.4%94.8%112.4%

Claims Ratio

53.5%56.5%54.1%72%

Expense Ratio

38.2%39.9%40.7%40.4%

Commission Ratio

26%27.2%27.6%

Attritional Ratio

55.2%55.5%55.4%56.4%

Gross Investment Return as % of Opening Portfolio Value

0.1%2.6%3.2%4.9%

Brit Insurance Employee Rating

4.013 votes
Culture & Values
4.0
Work/Life Balance
3.6
Senior Management
3.6
Salary & Benefits
4.0
Career Opportunities
3.2
Source