Brit Global Specialty USA (BGSU) has affirmed its commitment to the US yacht market, in response to recent industry publications reporting a departure from the Yacht insurance market by Brit Ltd (Brit).
Nick Davies, President, Brit Americas, said that “following recent press speculation as to the future of our London-based yacht business, we want to affirm our commitment to the US yacht market through our US based service company, BGSU.”
Davies noted that, “as an admitted product targeting much smaller average hull values and distributed to US based clients, our strategy is very different to that offered under the traditional London based model. To that extent, yacht and our broader US based marine offering remain an integral part of BGSU’s platform as we continue to pursue profitable growth.”