Reinsurance News
Ascot
Ascot streamlines reinsurance business with new division
31st August 2021
Bermuda-domiciled specialty re/insurer Ascot has announced the launch of a global platform designed to serve the needs of reinsurance underwriting and client focused ceded risk solutions. Under the leadership of Group Chief Underwriting Officer Mark Pepper, Ascot Re will operate as a single point of entry for all related reinsurance products and capabilities. Executive oversight ... Read the full article
Ascot announces Boston Indemnity Company acquisition
7th July 2021
Bermuda-domiciled specialty re/insurer Ascot reached an agreement to acquire Boston Indemnity Company (BIC) from Great Midwest Insurance Company (GMIC), a subsidiary of Skyward Specialty Insurance Group. The acquisition has been described as an attempt to facilitate Ascot’s entry into the US contract and commercial surety market. It has also been stated that ... Read the full article
Ascot expands US FAC team
25th June 2021
Bermuda-domiciled specialty re/insurer Ascot has expanded its US facultative reinsurance capabilities with the appointment of Anthony Kashuba as Executive Vice President and Steve Robinson as Senior Vice President. Kashuba will help oversee Ascot’s overall North America Casualty FAC product suite and facilitate new and expanded solutions across the Casualty product spectrum. Based ... Read the full article
Ascot bolsters Ethos Specialty exec team with EVP Jeff Canfield
14th June 2021
Bermuda-domiciled specialty re/insurer Ascot has added Jeffrey Canfield as Executive Vice President, Casualty & Product Innovation for its MGU subsidiary Ethos Specialty. Canfield will lead an expansion of Ethos Specialty’s range of solutions as well as underwrite a broad suite of casualty-based products. This includes furthering the underwriting and digital capabilities of ... Read the full article
Ascot partnership to offer US builders risk insurance
4th June 2021
Bermuda-domiciled specialty re/insurer Ascot has formed a partnership with Highland Insurance Solutions to provide a builders risk insurance program for US projects. The partnership will provide Highland, a subsidiary of WNC Insurance Services, with additional capacity to underwrite frame and concrete construction projects on all risks policies. The solution will be available ... Read the full article
Ascot names Lillegard Chief Actuary
27th May 2021
Ascot has announced the appointment of Matthew Lillegard as Group Chief Actuary, a newly created position. Lillegard will be responsible for leading the overall group's actuarial functions and will work in close collaboration with colleagues across Ascot’s underwriting, Risk, ERM, IT, and Data Strategy teams. He will report directly to Jonathan Zaffino, ... Read the full article
Ascot hires Brendan Walsh as EVP, Head of Property for Ethos
19th May 2021
Bermuda-domiciled specialty re/insurer Ascot has appointed Brendan Walsh as Executive Vice President and Head of Property for Ethos Specialty. Walsh will be responsible for the management and development of Ethos Specialty’s Property portfolio, which provides underwriting services to a range of capital partners. Walsh will be based in Chicago and report to ... Read the full article
Ascot and Tierra Underwriting to provide green credit insurance
12th May 2021
Bermuda-domiciled specialty re/insurer Ascot has partnered with Tierra Underwriting Limited (Tierra) to provide credit insurance in support of green project finance transactions. Ascot will provide up to $15m in underwriting capacity, which will be used to support transactions that have carbon abatement at their core, or otherwise provide environmental benefits to ... Read the full article
Ascot hires W.R. Berkley’s Marina Barg as Chief Claims Officer, NA
4th May 2021
Ascot has announced the addition of Marina Barg, formerly of W.R. Berkley, as its new Chief Claims Officer for North America, reporting to Matt Kramer, Chief Executive Officer (CEO), Ascot U.S. In her new role, Barg will work closely with Ascot executives across Bermuda, U.S. insurance and Ethos Specialty operating units, ... Read the full article
Ascot Bermuda joins Ed’s TradEd
14th April 2021
Reinsurance broker Ed has announced that Ascot Bermuda has joined its etrading platform TradEd. The portal was launched in April last year and enables its carriers to view submissions and associated risk details, as well as make queries, see material information updates in real time and edit deal documents online. Chris Bonard, ... Read the full article
Ian Thompson takes Bermuda CEO role at Ascot
26th February 2021
Global specialty insurance and reinsurance underwriter Ascot has announced the appointment of Ian Thompson as Chief Executive Officer (CEO) for Bermuda. In this role, Thompson will assume responsibility for Ascot’s business on the island, which includes specialty insurance, reinsurance and alternative capital capabilities. Thompson joined Ascot in 2017 as Head of Casualty ... Read the full article
Ascot names Arch’s Kramer CEO of US Insurance
12th January 2021
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 ... Read the full article
Ascot appoints AXA XL’s Michael Kerrigan as Group CIO
5th January 2021
Bermuda-domiciled specialty insurer and reinsurer, Ascot, has hired Michael Kerrigan as Group Chief Information Officer (CIO), based in New York and reporting to Yvonne Costello, Group Chief Operating Officer (COO). In his new role, Kerrigan takes on responsibility for all aspects of Ascot's technology portfolio and will be tasked with progressing ... Read the full article
Ascot eyeing $400mn capital raise via senior notes offering
10th December 2020
Bermuda-domiciled specialty re/insurer Ascot is looking to raise $400 million via an offering of senior notes. The company hopes to use the new debt capital to help bolster growth opportunities across all of its insurance markets. The notes, due 2030, have a 10-year maturity and a fixed-rate coupon of 4.25% payable semi-annually. The ... Read the full article
Ascot adds Nick Greggains as CEO of Ethos Specialty
6th October 2020
Ascot Group has announced the addition of Nick Greggains, formerly of Pioneer Underwriters, as the new Chief Executive Officer (CEO) of its wholly owned Managing General Underwriter (MGU), Ethos Specialty. Following its launch in 2017, Ethos has developed eight niche programs across Property, Casualty, and Transaction Liability Insurance. In his new ... Read the full article
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