Nomination of New Chairman (4586A)

TIDMBRE

RNS Number : 4586A

Achilles Netherlands Holdings B.V.

01 February 2011

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION

For Immediate Release

1 February 2011

OFFER

ACHILLES NETHERLANDS HOLDINGS B.V. ("ACHILLES")

for

BRIT INSURANCE HOLDINGS N.V. ("BRIT INSURANCE")

Nomination of New Chairman

Subject to the Offer becoming or being declared unconditional in all respects, and to receipt of confirmation from the Financial Services Authority, Achilles intends to nominate Mr Nicholas Prettejohn for appointment as chairman of the Brit Insurance Board. Mr Prettejohn is the former Chief Executive of Lloyd's of London, a position he held for six years, and is also the former Chief Executive of Prudential PLC in the UK and Europe. Currently, Mr Prettejohn is a non-executive director of Legal & General Group PLC.

Enquiries

 
 Haggie Financial, for Brit Insurance   Tel: +44 (0)207 417 8989 
  Peter Rigby                            Tel: +44 (0) 7803 851 426 
 Rubenstein Associates, for Apollo      Tel: +1 (212) 843 8590 
  Charles Zehren                         Tel: +44 (0)207 404 5959 
  Brunswick Group, for CVC 
  Carole Cable

Further information

Achilles is a company formed on behalf of funds managed by Apollo Management VII, L.P. and funds advised by CVC Capital Partners Limited.

This announcement will be available on Brit Insurance's website vestor.britinsurance.com/phoenix.zhtml?c=133807&p=irol-disclaimer100610) by no later than 12 noon (London time) on 2 February 2011.

Other than as expressly set out in this announcement, capitalised terms used in this announcement shall have the meaning given to them in the offer document issued by Achilles on 23 November 2010.

This announcement does not constitute, and must not be construed as, an offer to sell or an invitation to purchase or subscribe for any securities or the solicitation of an offer to purchase or subscribe for any securities, pursuant to the Offer or otherwise. The full terms and conditions of the Offer, including details of how the Offer may be accepted, are set out in the Offer Document.

The release, publication or distribution of this announcement in certain jurisdictions may be affected by the laws of relevant jurisdictions. Persons who are subject to the laws of any jurisdiction other than the United Kingdom or the Netherlands or are not resident in the United Kingdom or the Netherlands will need to inform themselves about, and observe, any applicable requirements. This announcement has been prepared for the purpose of complying with English and Dutch law and the information disclosed may not be the same as that which would have been prepared in accordance with the laws of jurisdictions outside the United Kingdom and the Netherlands.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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