13 December 2017Bermuda analysis

Brit's new captive venture appoints former Axis boss as non-exec

Brit Re, the newly established captive reinsurer formed when Brit relocated a Gibraltar based entity to Bermuda earlier in December, has appointed the former CEO of the reinsurance operations of Axis Capital as a non-executive director.

Jay Nichols joins the boards Brit Re and Sussex Capital, a new collateralised reinsurance platform Brit has also formed, as non-executive director. He will also become chair of the audit committee of Brit Re and join the Brit Audit Committee.

Prior to working for Axis, Nichols spent 15 years at RenaissanceRe, culminating as the President of RenaissanceRe Ventures. He was responsible for the formation of DaVinci Reinsurance and Top Layer Reinsurance, as well as numerous sidecars and other joint ventures and strategic investments. Prior to joining RenaissanceRe Jay held various positions at Hartford Steam Boiler, Monarch Capital and the accounting firm of Matson, Driscoll and D'Amico.