Ascot, a Bermuda-based global specialty insurance company, has appointed Ian Thompson as Chief Executive Officer and Director of Ascot Underwriting Limited (AUL) and Justin Keith as President and Chief Executive Officer of Ascot Bermuda Limited.
Thompson is taking over the London-based role from Jonathan Zaffino. As CEO and Director of AUL he will continue to report to Zaffino in his role as Ascot Group President and CEO and will remain a member of the Global Executive Committee.
He has almost 30 years of experience as an Underwriter, Broker, and Executive in both London and Bermuda, and brings to his new role deep subject matter expertise and extensive relationships in the market.
The executive joined the Group in 2017 Chief Underwriting Officer of Casualty and Specialty for Ascot Bermuda, before becoming President and CEO of Ascot Bermuda in 2020.
In this role, Thompson was in charge of overseeing all Ascot business on the Island, including specialty insurance, reinsurance, and alternative capital.
Ascot Group CUO, Mark Pepper. will continue to report to Zaffino. Thompson’s arrival in London will enable Pepper to amplify his role and meaningful impact on the underwriting and reinsurance strategies across the Group, the company stated.
Keith was promoted to President and CEO Bermudan operations, in succession to Thompson. His appointment will be subject to board and immigration approval.
He joined Ascot in 2017, and has successfully served in roles of increasing responsibility, most recently in his role as Chief Underwriting Officer for Casualty & Specialty.
The executive began his insurance career two decades ago and has held insurance and reinsurance leadership positions in the US, London, and Bermuda. Keith will also report to Jonathan Zaffino in his new role overseeing all aspects of Ascot’s Bermuda operations.
“Throughout Ascot’s history, Ascot Underwriting Limited (AUL) has earned a reputation for underwriting excellence and market leadership. Our vision for the Ascot Group’s future, including our multi-year strategic plans, will require increased investment in and continued profitable growth from our leading and flagship syndicate,” said Jonathan Zaffino.
Adding: “Ascot’s ambitious agenda requires dedicated leaders at the helm of our operations who remain solely focused and dedicated in leading our talented teams of market leading professionals to work with our clients in addressing today’s risk challenges.
“I am beyond confident that Ian and Justin are the leaders to help lead Ascot through the next phase of our organization’s journey.”
