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Their next destination remains unknown. -
Sources suggested that the multiple could be as low as the 13x range as valuations reset.
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Insurance Insider revealed earlier this week that the underwriter had resigned from Allianz.
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The CEO said Ascot would deploy capital where it sees opportunities.
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Soft conditions have led to “less acute" underwriting discipline, sources said.
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The headcount at the start-up now stands at around 40.
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The carrier has also added AIG’s Alice Hawkins to its aviation unit.
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The product protects insureds outside of warzones from conflict-related cyberattacks.
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The Willis-brokered coverage also includes the Willis CyXS facility.
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The group said corporations face geopolitical and climate risk.
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New capacity continues to enter the hull market, and rates are falling.
