All Ascot articles
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NewsAscot’s Johnson promoted to COO for North America
Ascot has promoted its North America CUO Elizabeth Johnson to chief operating officer for the region, a newly created role in which she will also retain oversight of underwriting operations across the region.
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Analysis
Lloyd’s insurers for sale – what do they reveal about appetite and the cycle?
A raft of Lloyd’s insurers are either formally for sale or are discreetly testing buyer appetite. The Insurer looks at the various processes taking place and examines what the outcomes might reveal about investor enthusiasm for Lloyd’s market exposure, performance “turnaround” management and where we sit in the cycle…
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News
Ascot set to launch UK MGA platform with Leathem at helm
Ascot is poised to launch a dedicated UK MGA platform targeting ~$250mn in annual premium by year three with up to five cells earmarked for a 1 January 2023 underwriting launch, The Insurer can reveal.
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News
Ascot hires Arch’s Chiolan to oversee US management/professional liability
Ascot has appointed Brian Chiolan from Arch in a newly created role in which he will oversee the carrier’s US management liability, financial institutions, professional liability and cyber portfolios.
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News
Ascot US inland marine head Vetter leaves
Jeff Vetter has resigned from his position as head of inland marine at Ascot’s US insurance platform, with the carrier reaffirming its commitment to the business line despite the departure, The Insurer can reveal.
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Comment
If Evercore is correct, Ascot’s owners may be mad to sell now…
Lloyd’s/US/Bermuda carrier Ascot is a high-class operation and has been ever since Hank Greenberg was persuaded to back its launch 20 years ago – a move that saw an AIG at its omnipotent pomp enter Lloyd’s for the first time.
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News
Tango Specialty hires Ascot trio to spearhead marine push
Start-up MGA platform Tango Specialty is making a play in the marine market with the hires of Chris Piazza, Dana Piazza and Jim Gehrke from Ascot, The Insurer can reveal.
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Analysis
Up-for-sale Ascot eyes $6bn premium and sixfold operating income increase by 2026
Ascot is being marketed to potential bidders as a business “spring-loaded for continued profitable growth” by CPP Investments’ advisor Evercore, with managed premium forecast to grow to $6bn in the next four years, The Insurer can reveal.
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News
CVC and Cinven emerge as Ascot PE bidders as bid deadline looms
Up-for-sale Ascot is understood to have garnered interest from a significant number of private equity firms – including powerhouses CVC and Cinven – ahead of tomorrow’s deadline for first round bids for the specialty (re)insurer to be submitted, The Insurer can reveal.
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News
Ascot hires Argo’s Quigley to head up US surety division
Ascot has announced the appointment of Tara Quigley as executive vice president, head of surety.
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News
Coalition lands multi-year cyber capacity deal with Ascot US
Coalition has struck a multi-year non-admitted capacity deal with Ascot’s US platform, a move aimed at fuelling the next phase of the insurtech’s growth.
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News
Ascot promotes Keith to Bermuda casualty/specialty CUO
Ascot has promoted Justin Keith to the role of chief underwriting officer for its casualty/specialty offering in Bermuda.
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News
Ascot bullish on outlook for 2022 as Syndicate 1414 profits dip
Ascot Syndicate 1414 outperformed the Lloyd’s market in 2021 with a combined ratio of 89.6 percent while management at the up-for-sale carrier provided a bullish outlook on the prospects for 2022.
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News
Ascot sales process moves forward amid strong NA growth
The full information memorandum for the Ascot sale has been distributed to potential bidders in the last fortnight by CPP Investments’ advisor Evercore and is likely to further highlight strong growth momentum driven by its North American business as the specialty (re)insurance group attracts wide interest from financial and trade ...
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News
Ascot sees significant growth opportunity in US programs and MGA space
Ascot’s expansive US insurance operations are targeting continued growth in the programs and MGA space, with management also telling this publication they welcome the introduction of AM Best’s Performance Assessments (PAs) to help differentiate the group’s own platform and assist in the due diligence process.
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Analysis
Ascot sale offers potential valuation litmus test for a top-quartile performer
If Canadian pension fund manager CPP Investments proceeds with the auction of its speciality (re)insurer Ascot it would mark the first time a top-quartile Lloyd’s carrier has been sold for a number of years, analysis by The Insurer shows.
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News
Ascot owner CPP mulls sale of insurance investments: reports
Canada Pension Plan Investment Board (CPP Investments), the owner of London-Bermuda specialty carrier Ascot and life reinsurance legacy specialist Wilton Re, is mulling a sale of its insurance units, according to reports.
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News
Ascot hires AIG’s Aitchinson to lead new space launch
Ascot has unveiled plans for a space consortium at Lloyd’s following a trio of senior hires from AIG to lead a new space practice.
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News
Ascot’s Brooks to continue as LMA chair
Ascot Underwriting CEO Andrew Brooks will serve a consecutive term as chair of the Lloyd’s Market Association (LMA) following a unanimous vote by the board for his reappointment.
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News
Ascot names WTW’s McBain head of management liability Bermuda
Ascot has named Mitch McBain as senior vice president, head of management liability in Bermuda, with the new hire joining from Willis Towers Watson where he was head of UK & International for Finex D&O.
