Ascot
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Binding insurers include Chubb and AIG, with reinsurance from Munich Re. -
Berger to retire as Ascot promotes Thompson to Bermuda CEOAscot has promoted casualty and specialty CUO Ian Thompson to CEO of its Bermuda operation.
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The CEO said there is still some way to go on pricing as he revealed $2.4bn premium expectations for the group in 2021.
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The hire reflects Ascot’s push to build capabilities on the island.
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Ben Wallace will lead the team as the syndicate continues to expand in the casualty space.
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Syndicate 1796 is looking to unlock "billions of dollars" of insurance coverage for low-income countries.
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The new Syndicate 1796 is the conduit for the initiative and is backed by 14 global (re)insurers.
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The carrier is targeting growth in all key lines of business.
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The syndicate will have a £900mn stamp for 2021 as it leverages its light-touch status.
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The executive says he is optimistic about the prospects for Bermuda.
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A $49mn marine liability policy held by supply ship operator Rodi Marine is expected to be one of the first in the market to receive a Covid-19-related claim.
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