Andrew Brooks, currently Chief Underwriting Officer of Lloyd’s Ascot Underwriting, has been named Chief Executive Officer, effective immediately. He succeeds founder and current CEO, Martin Reith, who will assume a non-executive role.
“Both of these appointments are subject to approval from Lloyd’s and the Financial Services Authority,” said the announcement.
Brooks joined Ascot in 2001 as one of its principal underwriters. Prior to that, he had over 12 years underwriting experience in a number of Lloyd’s syndicates.
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Nicholas Walsh, President and CEO of AIU, a division of AIG, welcomed Brooks to his new post. He indicated that “Ascot has been and continues to be an important and core part of AIU and we expect it to continue to flourish under Andrew’s leadership.”
The bulletin also noted that in the “last seven years Ascot has developed into a very successful company, employing over 100 staff and leading over 40 percent of the business it writes.”
Walsh added: “There is enormous talent within the management and underwriting teams in Ascot, and the syndicate will remain a key part of AIG’s operations in London. We very much look forward to working with Andrew. We are grateful to Martin Reith for all his hard work building Ascot and we are delighted he will continue in a non-executive capacity.”
Source: Ascot – www.ascotuw.com
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