Ascot

Michael Sevi served as general counsel and chief compliance officer at Guy Carpenter.

Ex Ascot colleagues Gavin Wall, Chris McGill, Matthew Eve and Parth Patel are reuniting at the new unit.

Thompson takes over as Ascot Underwriting CEO from Group CEO Zaffino.

The carrier also appointed Pugi head of Bermuda excess casualty.

Charles Craigs will oversee Ascot’s sidecar and other third-party capital vehicles.

The syndicate’s GWP reached £1.44bn in 2023, a 7% increase on 2022.

The business will be led by Alex Kirkby, new head of marine and energy.

The CEO emphasised that while trading conditions are favourable for the specialty segment, the company would make the decision to go public based on its own merit rather than market timing.

Ratings could be lowered by one notch depending on regulatory restrictions on cash flow from Bermuda operating entities to non-operating holding companies, the ratings agency said.

The appointments follow the retirement of CEO Andrew Brooks and the consequent resignation of former directors on the Lloyd’s board.

The underwriter spent more than two decades at Ascot, holding several roles in the property, political violence and marine hull teams.

Andrew Moulton becomes executive underwriter for marine, and Jessica Pearson is now cargo class underwriter.