Wilson to Succeed Cloutier as Brit Ltd.’s Group CEO

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Brit Ltd., the London-based specialty insurer, announced the appointment of Matthew Wilson as group chief executive officer, effective Jan. 1, 2017.

Upon Wilson’s appointment, which is subject to regulatory approval, Mark Cloutier, the current group CEO, will become executive chairman of Brit.

Cloutier will continue to provide leadership and support on a full-time basis to Wilson and the senior management team, said Brit in a statement.

Richard Ward, currently non-executive chairman of Brit, will remain on the board of Brit Ltd., assuming the role of senior independent director and will continue as chairman of Brit Syndicates Ltd., Brit’s regulated entity.

Wilson began his career with Lloyd’s in 1988 and joined Brit in 1999. He was appointed as CEO of Brit Global Specialty in May 2008. He became a member of the executive management committee in January 2009 and, in February 2015, was appointed group deputy CEO.

Cloutier was appointed chief executive officer of the group in October 2011. He serves on the boards of Brit Ltd. and Brit Syndicates Ltd. and is a member of the Investment Committee and the Underwriting Committee. With more than 35 years’ experience in the re/insurance sector, he has held a number of CEO and senior executive positions, including CEO of the Alea Group, CEO of Overseas Partners Re and president of E.W. Blanch Insurance Services Inc.

“I have worked with Matthew since 2011 and there is no one who knows the business better. He has the skill-set, market experience and leadership qualities to successfully take the business forward on the next stage of its journey,” said Cloutier. “I look forward to continuing to work closely with Matthew in my new role as executive chairman, and to build upon the market-leading platform we have created at Brit.”

Wilson commented: “I am honoured and excited to lead Brit, and would like to thank Mark who has been instrumental in the transformation of Brit over the last few years. Today we are a highly successful business with a clear strategy, a strong culture and a hugely supportive parent in Fairfax. I am pleased that Mark will continue to play a crucial role as executive chairman, supporting myself and the senior management team as we look forward to 2017 and beyond with confidence.”

Source: Brit Ltd.

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