Bermuda domiciled specialty insurer and reinsurer, Ascot Group, has announced two senior hires within in its North American operation, including the addition of Elizabeth Johnson as North America Chief Underwriting Officer (CUO).
In her new role, Johnson will work with the firm’s North America executive leadership team to develop and execute Ascot’s underwriting strategy across its Bermuda, U.S. insurance and MGU businesses.
She takes responsibility for all matters of underwriting governance frameworks and performance monitoring across the range of business units. Johnson will serve as a key cultural pillar, tasked with leading, inspiring and motivating a diverse team of underwriters. She will be based in the firm’s New York office, reporting to Group President, Jonathan Zaffino.
Johnson joins the firm from Nationwide where she was most recently Managing Director. Previously, she served at AIG for nearly 20 years in numerous senior underwriting and management positions, including Head of Excess Casualty, North America and Global Head of Excess Casualty.
Zaffino said: “Underwriting excellence remains at the core of Ascot’s culture. I’m delighted that we have Elizabeth joining our business as Chief Underwriting Officer, where she can build on this culture of excellence, creativity and diversity by further developing our world-class team of underwriters.
“In addition, she has exceptional underwriting judgement, deep understanding of P&C insurance dynamics and first-class risk management skills. Having a true insurance practitioner, relentlessly focused on risk and possessing cross-product knowledge will certainly be a great benefit to Ascot.”
Johnson added: “I’m delighted to join Ascot and have the opportunity to work with leading industry figures and underwriters. The Group’s history and track-record of underwriting quality, and consistent market outperformance, means it’s the kind of organization any professional underwriter would want to be a part of. I’m excited by the vision of Jonathan Zaffino and to have the opportunity to work closely with him to build a technology driven, modern era company with its interconnected global operating platforms.”
Additionally, Ascot has announced the appointment of Andy Stirk as Chief Commercial Officer, a role which sees him take responsibility for distribution, marketing, and sales strategy across the company’s North American operations.
In his new role, Stirk will work closely with the leadership team in both the development and implementation of a comprehensive distribution strategy across Ascot’s Bermuda, U.S. insurance and MGU platforms.
Stirk also takes on responsibility for client and broker development strategy, enhancing relationships the firm holds with key trading partners and insureds, alongside developing new distribution channels and business opportunities. He will be based in New York, reporting to Zaffino.
He joins Ascot from insurance and reinsurance brokerage Marsh, where as Managing Director he was responsible for executing the company’s North American growth strategy for its FINPRO Risk Practice. He brings extensive experience in developing global client portfolios to the role, and in leading high-impact sales teams throughout his 20 year career with Marsh and Aon.
Zaffino commented: “As Ascot continues to expand, notably through increased product capabilities, Andy will provide excellent depth to our management team while promoting a seamless and efficient interface with our valued trading partners. His technical proficiency, market knowledge and extensive industry relationships, cultivated during time spent at leading brokerage organizations in New York and San Francisco, means he’ll be a significant asset in driving forward our client management and distribution strategies. I welcome Andy to Ascot and look forward to working closely with him.”
Stirk added: “Ascot Group is a world class risk partner that I came to know trading in the London marketplace. Its diverse ecosystem of interconnected global insurance platforms, in conjunction with our exceptionally talented team of risk professionals, provides a solid foundation for the North American distribution strategy to accelerate in a market where capital choice is desired.
“I am grateful for the opportunity to partner with Jonathan Zaffino and Andrew Brooks to build a preeminent specialty risk assumption organization unified in mission and strategy.”
