Camargue Underwriting Managers (“Camargue”) have announced that Brit Insurance Holdings Limited (“Brit”), the global specialty insurer and reinsurer, has acquired a further interest in Camargue, taking its ownership to 100% of the business.
Founded in 2001, Camargue Underwriting Managers is a leading managing general underwriter, offering a range of specialised insurance products and specialist liability solutions in South Africa.
Gerhard de Bruin, Camargue CEO, commented: “Camargue celebrated 20 years of successful operation in August this year, and we are delighted to mark this by strengthening our partnership with Brit. This will allow Camargue to continue building on our strong track record, as well as supporting new opportunities with Brit’s reputation, reach and underwriting expertise empowering Camargue to deliver its next phase of growth.”
Camargue’s existing management team will remain, with Mitch Marescia, Camargue’s co-founder, also staying with the business as Non-Executive Chairman.