London-based Ascot Underwriting Ltd. has created new subsidiary in Houston, Texas – Ascot Underwriting Inc. The company said the move is part of Ascot’s plan to establish local underwriting platforms, and follows the launch of a unit Singapore.
In addition to traditional energy business, Ascot Underwriting Inc. will provide a local presence for Ascot Renewco, the company’s new renewable energy operation.
Ascot Underwriting Inc. will be headed by John Flower, who will serve as president and chief underwriting officer. With 20 years experience in the insurance industry, Flower was most recently senior vice president of Insurance Market Solutions (IMS), a majority owned subsidiary of Burnett Holdings Inc.
Ascot Underwriting’s Houston operations commenced effective October 2007.
Ascot Underwriting Ltd – Syndicate 1414 – began trading in 2001 and is backed by AIG. Its main syndicate classes are property, energy, specie and fine art, cargo, terrorism, war and political risks, marine hull/war/liabilities and excess of loss reinsurance.
Source: Ascot Underwriting Ltd.
Topics Underwriting
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