Brit Insurance ends speculation

Brit Insurance has ended months of speculation by announcing that it has sold a 56% stake in risk placement technology provider RI3K to a consortium of investors. The consortium includes investment fund Eton Park; investment banking and broking group Numis Corporation; IPGL Insurance Services, a private holding company, of which Michael Spencer, group chief executive of ICAP, is the major shareholder; and Climate Exchange chief executive Neil Eckert. Brit confirmed it would retain a 19.9% sh

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