The re/insurer has also contributed to provide collateralized reinsurance for its portfolio.
Reinsurance
By Kenneth Araulo
Bermuda-based global specialty re/insurer Ascot Group has introduced a unified capital management platform called Leadline Capital Partners. The platform is designed to support the company’s growing third-party capital business.
As part of this initiative, Ascot has partnered with institutional investors to provide collateralized reinsurance for its global property portfolio through a Bermuda-based special purpose insurer.
The development marks a significant step forward in Ascot’s Capital Partnerships business, which has generated gross premiums of more than $225 million since its inception four years ago.
“Through Leadline Capital Partners, we are leveraging Ascot’s strong underwriting foundation and creative risk solutions to offer attractive and innovative options for third-party capital,” said Charles Craigs (pictured above), Ascot Group. said the managing principal of Third Party Capital.
He also highlighted the importance of the latest collaboration in expanding the business.
Justin Keith, President and CEO of Ascot Bermuda Limited, expressed optimism about the continued growth of its alternative capital business under the new platform.
He noted that the business provides additional capacity to insured and reinsured clients, offers an attractive risk-adjusted return for capital partners, and allows Ascot to continue to serve both clients and investors. allows
Aon Securities LLC acted as sole structuring agent and placement agent for this capital partnership transaction, with Wilkie Farr & Gallagher LLP providing principal legal counsel.
Earlier this month, Ascot also announced the appointment of Ian Grayson as Chief Information Officer for the UK and Bermuda regions.
In this newly established role, Grayson will be responsible for developing and implementing a technology transformation strategy, aimed at driving technology-driven innovation and growth for the company’s UK and Bermuda platforms.
Grayson brings over 30 years of experience in the financial services industry and the London insurance market, with a proven track record in leading global technology teams. His role will focus on leveraging the latest technology solutions to improve underwriting and claims processes and drive the company’s digital transformation initiatives.
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