Ascot
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The moves follow years of market malaise in the property sector.
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Deals are still a major driver for growth, insurance and broker executives told delegates at the Insider US event.
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The tie-up will use technology from InsurTech firm Parsyl to cut the cost of managing claims.
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Carriers hope the new technology will cut the cost of administering claims.
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Other significant reductions in this publication’s running SBF approval tally include Aspen 4711, Markel 3000 and Hiscox 33.
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The executive joins from Liberty Mutual-owned specialty (re)insurer Ironshore.
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Axa XL, MS Amlin and Miller are among the companies trialling the PPL rival. -
Azur’s technology platform is also being used to underwrite commercial insurance in the US.
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The Ascot CEO will work alongside Sheila Cameron, who replaces David Gittings as head of the organisation in January.
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Ascot has also completed the acquisition of admitted carrier Greyhawk Insurance Company and its surplus lines subsidiary Greyhawk Specialty Insurance Company.
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The association has also launched a broker advisory cabinet.
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The carrier makes its first venture into whole turnover trade credit.
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