Ascot Underwriting has received the ‘thumbs up’ as it looks towards its business plan for 2018.
The global specialty insurer, which specialises in such areas as energy, specie and fine art, terrorism and political risk, and marine, has had a revised plan approved by Lloyd’s that includes an increase in gross written premium of 23%. In a release making the announcement, the firm emphasised its achievement given the magnitude of losses that had occurred during the third quarter to an “already stressed industry.” It noted that market conditions will strengthen in 2018 as the true scale of these losses begin to manifest.
“We are delighted that our revised business plan submitted to Lloyd’s for 2018 has secured approval,” said Ascot CEO Andrew Brooks. “Together with strong and committed support from Canada Pension Plan Investment Board, our corporate investor, this robust plan will enable us to continue to proactively service the needs of our brokers and their clients.”
The news comes on the back of Ascot Group announcing a
new chief financial officer and COO less than a month ago.
.jpg)
