Brit Insurance Accepts Buyout Offer

Brit Insurance has accepted a buyout offer from PE shops Apollo Management and CVC Capital Partners, according to Reuters. The deal values the insurer at up to 888 million pounds ($1.4 billion). For the nine months ending Oct. 25, gross written premiums at Brit Insurance fell 9 percent to 1.22 billion pounds, in part due to compeition in underwriting.

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