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

GBPFY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Revenue

1.3b1.4b1.7b1.8b1.1b

Revenue growth, %

6%

Operating expense total

1.5b1.8b

Depreciation and amortization

2.4m2.3m3.3m

EBIT

175.0m17.5m

EBIT margin, %

10%1%

Interest expense

16.1m16.5m18.8m17.1m14.4m

Pre tax profit

177.5m6.2m159.8m5.5m(145.8m)

Income tax expense

12.0m(6.3m)2.2m(16.0m)(18.2m)

Net Income

165.4m12.5m157.6m21.5m(127.6m)

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

GBPFY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Cash

361.7m465.9m1.0b1.6b627.0m

Accounts Receivable

1.1b1.2b2.1b

Current Assets

4.1b4.5b5.2b

PP&E

5.3m16.9m22.9m21.3m13.3m

Total Assets

4.3b4.7b6.0b7.0b5.5b

Accounts Payable

3.1b3.6b4.4b

Short-term debt

140.1m148.8m134.0m

Current Liabilities

3.3b3.8b4.7b

Long-term debt

Non-Current Liabilities

27.8m24.6m1.7m

Total Debt

140.1m148.8m157.5m301.9m134.0m

Total Liabilities

3.4b3.8b4.8b5.9b4.7b

Common Stock

4.8m5.3m6.4m6.4m5.2m

Retained Earnings

983.8m984.1m1.2b1.2b560.8m

Total Equity

931.5m927.4m1.1b1.1b831.5m

Debt to Equity Ratio

0.1 x0.3 x

Debt to Assets Ratio

0 x0 x

Financial Leverage

4.6 x5.1 x5.2 x6.2 x6.7 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 Ratios

GBPFY, 2014

Financial Leverage

4.6 x

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

4.217 votes
Culture & Values
4.2
Work/Life Balance
3.8
Senior Management
3.6
Salary & Benefits
4
Career Opportunities
3.7
Source