Ascot
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The executive has worked for the company in London, New York and Dublin. -
Elliott Management, the other key suitor for the business, is understood to have dropped out of the auction.
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The move is part of a wider Ascot strategy that will see the imminent launch of an MGA platform headed up by David Leathem.
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The MGA’s gross written premium now surpasses $650mn.
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The executive will oversee management liability, healthcare and casualty/specialty reinsurance.
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Although the syndicate’s loss ratio improved, it booked an investment loss for 2021.
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NDAs have been sent out to global insurance groups and heavyweight PE firms, it is understood.
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Former head of D&F at Geo Specialty David Leathem and his colleagues first joined the Ardonagh-backed MGA in 2017 to establish its international property book.
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The appointment comes after marine liability underwriter Ellie Barr resigned to join Convex.
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The unwinding of the pandemic, inflation and specialty pricing are set to be some of the areas of focus for the market.
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Evercore has been retained to advise the vast Canadian pension fund on its efforts to divest the specialty carrier.
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The Bermuda-based executive ran a global book of business including cyber, mortgage impairment, surety, wildfire liability, terrorism, and nuclear among others.
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