Bermuda-domiciled specialty re/insurer Ascot has announced the appointment of Matthew Kramer as Chief Executive Officer of US Insurance.
Kramer will be based in the company’s New York City office and lead all facets of Ascot’s US insurance operations.
He will have direct responsibility for underwriting performance, new product development, and oversight of the further strategic development and growth of the US platform.
Kramer reports directly to Jonathan Zaffino, Group President, and will join Ascot later in Q1 upon the completion of his contractual obligations.
He joins with 24 years’ experience from Arch Insurance Group, where he most recently held the position of Executive Vice President.
Since 2009, Kramer held growing leadership responsibilities within Arch, most recently overseeing their Professional Liability and Healthcare divisions.
“It is my sincere pleasure to welcome Matt to Ascot. I have personally known Matt for over 20 years and can attest to the differentiated leadership and underwriting skills he brings to Ascot,” said Zaffino.
“Matt will lead a talented team of professionals, underwriting a growing and diverse range of products in both the wholesale and retail markets.
“I have full confidence that our US specialty insurance operations will continue on the path of growth and profitability, and will do so in the collaborative and thoughtful Ascot Way under Matt’s leadership.”
Commenting on his appointment, Kramer said, “I am incredibly excited to join Ascot and to lead the US insurance business at this stage in the company’s evolution.
“I have great respect for Ascot’s executive team and underwriting leadership – many of whom I have known as industry colleagues for several years and am thrilled to collaborate with such a talented group of industry professionals.
“I admire Ascot’s underwriting discipline, reputation in the global insurance marketplace, and strong corporate culture.
“I am grateful for the opportunity to partner with Jon Zaffino and the broader Ascot team and I am looking forward to contributing to the profitable expansion of a truly unique platform.”