Ascot
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It is understood that Ascot will continue to write worldwide retro business. -
Even without the uncertainty of an imminent takeover, the path ahead will not be easy for Ascot.
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Management are now likely to focus on growing the business given the turn in market conditions, rather than rebooting the process immediately, sources said.
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Plus the latest executive moves and all the top stories of the week.
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The two sides have been in bilateral discussions since June, with a view to CPPIB achieving liquidity on its investment.
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The insurer resumed underwriting on the grain corridor after Russia announced it would resume participation in a UN shipping agreement.
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The insurer is hopeful it can recommence quoting once it has clarity on the situation in the Black Sea.
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The entrepreneur will help shape and execute the strategic direction for the algorithmic underwriting specialist.
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The deal follows a decision to withdraw from some direct Irish business.
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The perishable cargo specialist led coverage for the global distribution of Covid-19 vaccines.
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The move follows the establishment of safe corridors through a treaty signed by Russia and Ukraine.
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Three weeks past what was billed as the final bid deadline, the PE house and owner CPPIB are still engaged in work to get a transaction to the finish line.
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