Insurer and reinsurer Ascot has appointed Mark Benz as Executive Vice President, Head of Alternative Risk Solutions, based in the New York City area.
Benz joins Ascot from AXA, where he reportedly built out the Group Captive Practice while leading the company’s North American Alternative Risk Structures, overseeing all group captive underwriting and compliance across various product lines within North America.
Before joining AXA, Benz spent 16 years at AIG in roles of increasing responsibility, most recently working as Head of AIG Captive Solutions.
Now, in this newly created role at Ascot, Benz is tasked with building and leading a portfolio focused on Captive Solutions and Fronting opportunities and identifying target capabilities for future growth in alternative risk transfer solutions.
According to the firm, the Alternative Risk Solutions group will consist of new alternative risk capabilities as they are developed, as well as the firm’s existing Captives and Trade Credit business units.
Matt Kramer, CEO of Ascot U.S., and to whom Benz will report, commented, “Ascot is committed to investing in, and responding to, the needs of this dynamic market in support of our mission, to be a perfect partner for a less-than-perfect world.
“Mark brings with him more than two decades of industry expertise and has the tools and knowledge needed to lead the growth and development of nimble, creative solutions for our clients whose risks are not a fit for the traditional commercial insurance market.”
Benz himself added, “Non-traditional risk management solutions will continue to grow in popularity as companies look for flexible ways to address their risk challenges.
“I look forward to developing solutions at Ascot that both position the company to capitalize on this significant market opportunity and support the evolving needs of our clients.”
