Ascot launches reinsurance platform led by Pepper

Ascot has launched Ascot Reinsurance, a global platform dedicated to reinsurance underwriting and client-focused ceded risk solutions that will be led by group chief underwriting officer Mark Pepper.

The newly established platform will provide a single point of entry for all Ascot’s reinsurance products and capabilities. The offering from Ascot Re will continue to be supported by the group’s A rated balance sheet. 

Ascot Re will house all existing reinsurance products, with solutions continuing to be provided through the existing Ascot operating companies of Syndicate 1414 at Lloyd’s, Ascot Bermuda Limited and various US statutory companies.

Pepper will lead Ascot Re with executive oversight from group CEO Andrew Brooks and group president Jonathan Zaffino.

Under Pepper’s stewardship is Rory Cline, president of Ascot Re US, which provides fac solutions throughout the US comprising property led by Libby Ismail, casualty under Tony Kashuba and professional liability under Steve Robinson. 

Through Lloyd’s, Ascot Re will provide property and casualty treaty underwriting led by Amanda Jeffrey and John Pilkington, respectively. In Bermuda, Ian Thompson, Bermuda CEO, oversees Ascot’s treaty operations, spanning the property line led by Sion Kimberley and casualty and specialty lines led by Justin Keith.

“Reinsurance underwriting has been at the very heart of Ascot throughout our 20-year history, and the launch of Ascot Re allows us to work even more closely with our brokers to ensure we provide the right solution for clients, regardless of where it sits within our ecosystem,” Pepper said.

The executive added: “I look forward to offering brokers a single point of entry for all their reinsurance underwriting, claims and service requirements.” 

Pepper commented that the establishment of the platform follows the expansion of the reinsurance solutions offering. 

As previously reported, Ascot in June announced that Kashuba and Robinson had joined the US facultative reinsurance team from Arch Re and TransRe, respectively, with Cline promoted to president of US reinsurance solutions. 

Ascot president Zaffino added that the new alignment of global reinsurance capabilities is in direct response to requests from clients seeking broader reinsurance solutions from the group. He said the single alignment “will help us provide tighter internal cohesion, and the delivery of exceptional product and services to our reinsurance brokers and clients”. 

Zaffino joined Ascot in the summer of 2020, having previously served as president and CEO of Everest Re’s insurance operations. 

In an interview with this publication in May this year, Zaffino noted opportunities to scale Ascot’s business were well diversified across the group’s insurance and reinsurance business.