Lloyd’s insurer Ascot Underwriting Ltd. announced that it has increased its capacity from £600 million [$958 million] to £650 million [$1.038 billion] “to support its 2011 business plan.”
Andrew Brooks, CEO of Ascot Underwriting explained: “Market conditions are changing, providing Ascot with opportunities, particularly in the reinsurance sector. We have increased our capacity for the remainder of 2011 to allow us to maximise these opportunities and expand our business where appropriate.”
Ascot established Syndicate 1414 in 2001. It is backed by AIG, and has grown quickly. The Syndicate writes coverage for “Property, Energy, Specie & Fine Art, Cargo, Terrorism, War & Political Risks, Marine Hull/War/Liabilities, Natural Resources and Excess of Loss Reinsurance. Ascot leads in most of these classes and leads over 40 percent of the slips we write.”
Source: Ascot Underwriting
Topics Trends
Was this article valuable?
Here are more articles you may enjoy.
Illinois USPS Employee Indicted for Alleged Workers’ Comp Fraud 
20,000 AI Users at Travelers Prep for Innovation 2.0; Claims Call Centers Cut 
Howden-Driven Talent War Has Cost Brown & Brown $23M in Revenue, CEO Says 
LA Fire Survivors Got a Rude Surprise That Could Hit More Americans 
