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Ascot to head up new power and utilities consortium

4 January 2012

Chartis-backed Lloyd's (re)insurer Ascot Underwriting has formed a new consortium in association with Brit Insurance, QBE Insurance Group and model developer Sciemus to underwrite power and utilities business.

The Strategic Power Consortium, a dedicated technical underwriting vehicle for thermal power generation risks, will write insurance and facultative reinsurance with an underwriting capacity of up to $100mn on any one risk.

The Ascot-led vehicle has the ability to write the standard perils covered under a power property placement, including machinery breakdown...

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