Specialty insurer and reinsurer Ascot Group has announced the appointment of Peter Trochev as Senior Vice President and Head of Financial Institutions (FI).
Trochev will lead Ascot’s FI strategy with a focus on expanding the range of FI products offered by Ascot throughout the US.
He joins Ascot from Nationwide, where he has been since 2008, most recently as leader for the Financial Institutions and Fidelity divisions, overseeing Management and Professional Liability products across the country.
His expertise is expected to complement Ascot’s Financial Lines underwriting segment which currently includes Management Liability, Cyber/E&O, Lawyers Professional Liability, Trade Credit and Surety.
Trochev assumes the management of Ascot’s FI portfolio, which includes Management and Professional Liability products for asset managers, investment advisors and financial institutions of various sizes.
Based in New York, he will report to Matthew C. Kramer, Chief Executive Officer (CEO) of Ascot US.
“I’m delighted to welcome Peter to Ascot as the leader of our Financial Institutions practice,” said Kramer. “We continue to add underwriting talent across our organization, who bring to us the technical depth and expertise to offer leading products to our valued broking partners.”
“Peter’s track record and significant experience in managing and thoughtfully expanding FI business throughout the U.S. will significantly advance our Financial Institutions portfolio and I look forward to partnering with him in delivering new initiatives for our clients.”
Trochev added: “As an underwriter, it’s an honor to join a company like Ascot which places underwriting at the very center of its culture. I know that the FI market has a need for risk solutions that utilize excellent capital strength alongside a first-rate claims service. Working alongside Matt, and the other talented colleagues, we at Ascot are well positioned to offer these solutions to financial institutions.”