BRIT INSURANCE HOLDINGS N.V.

BRIT INSURANCE HOLDINGS N.V.

Previous company name

Name change date

Company Overview
The company is engaged in the provision of day-to-day management and administrative services to its subsidiaries and affiliates. It conducts business in its registered head office located in Amsterdam, Netherlands.
The company handles the administrative affairs and services of a holding company and grants management services to its subsidiaries. It also provides financial support and control function for the board. Furthermore, the company is responsible for managing the group and its overall legal structure, tax planning, financial and equity structures. In addition, it is involved in matters of policy, strategic planning, marketing, selecting and manning senior management positions, approving investments and budgets, and the overall ongoing monitoring of the group companies’ performance.
The company’s internal operation is within the management of D.J. Douetil.
Business Summary
The Company is a holding company and through its subsidiaries, is engaged in insurance and reinsurance.
Description and history
The Company is a holding company and through its subsidiaries, is engaged in insurance and reinsurance.

History
Brit Insurance (formerly Benfield and Rea Investment Trust plc) is an investment company which invests in larger UK companies. The company also invests in the longer term selected Lloyd’s market and is developing into a specialist insurance company. Some of the largest investments within the portfolio include; Close Fund Management UK, Glaxo Wellcome, BP Amoco, SmithKline Beecham and Shell.

Change of holding company
As at 18 December 2009, the Company is pleased to announce that the Scheme between Brit and its Scheme Shareholders was approved by the Court. The Scheme become effective on 21 December 2009, as a result of which Brit Insurance Holdings N.V (‘New Brit’), incorporated in the Netherlands and listed on the London Stock Exchange, is now become the ultimate holding company of the Group. In additions, the Court also confirmed the reduction of capital of Brit which was approved by shareholders of the Company on 1 December 2009.

Immediately after the Scheme Effective Date, the Group will have substantially the same business and operations as the Group had before the Scheme Effective Date. The assets and liabilities of the Group immediately after the Scheme Effective Date will not differ substantially from the assets and liabilities which it had before the Scheme Effective Date.

Under the terms of the Scheme, Scheme Shareholders will receive one New Brit Share for each Brit Share that they hold. The New Brit ordinary shares of EUR1.00 each admitted to the Official List and trading on the London Stock Exchange’s main market for listed securities with effect from 21 December 2009. The listing of the existing ordinary shares of Brit, Ordinary Shares of 75p each (ISIN:GB00B11FL290) has been cancelled at that the same time new listing took place. The existing designation on trading screens of ‘BRE’ remained unchanged following the listing of New Brit and New Brit is expected to replace Brit as a member of the FTSE 250 Index.

Therefore, Brit Insurance Holdings N.V. is a continous company from Brit Insurance Holdings plc.

Business Line
Engaged in the provision of day-to-day management and administrative services to its subsidiaries and affiliates
Subsidiary
BRIT CAPITAL MARKETS LIMITED
Advisor
ERNST & YOUNG
IPO date
12/21/2009
US SIC Code
6331
Company Address

City province or state postal code

Phone:
Fax:
Country address: NETHERLANDS
Website url: www.britinsurance.com