Ascot launches unified capital management platform

Ascot launches unified capital management platform | Insurance Business Australia

Reinsurance

Ascot launches unified capital management platform

Re/insurer has also partnered to provide collateralized reinsurance for its portfolio

Reinsurance

By
Kenneth Araullo

Bermuda-based global specialty re/insurer Ascot Group has introduced a unified capital management platform named Leadline Capital Partners. This platform is designed to support the company’s growing third-party capital business.

As part of this initiative, Ascot has formed a partnership with institutional investors to provide collateralized reinsurance for its global property portfolio through a Bermuda-based special purpose insurer.

These developments signify a key step in Ascot’s capital partnership business, which has achieved over $225 million in ceded gross premiums since its inception four years ago.

“Through Leadline Capital Partners, we are leveraging Ascot’s strong underwriting foundation and creative risk solutions to offer attractive and innovative options to third-party capital,” said Charles Craigs (pictured above), Ascot Group managing principal for third-party capital.

He also highlighted the significance of the latest collaboration in expanding the business.

Justin Keith, president and CEO of Ascot Bermuda Limited, expressed optimism about the continued growth of their alternative capital business under the new platform.

He noted that the business delivers incremental capacity to insured and reinsured clients, offers an attractive risk-adjusted return for capital partners, and allows Ascot to continue providing its services to both clients and investors.

Aon Securities LLC served as the sole structuring agent and placement agent for this capital partnership transaction, with Willkie Farr & Gallagher LLP providing principal legal counsel.

Earlier this month, Ascot also announced the appointment of Ian Grayson as chief information officer for the UK and Bermuda regions.

In this newly established role, Grayson will be responsible for developing and executing a technology transformation strategy, aiming to enhance technology-based innovation and growth for the company’s UK and Bermuda platforms.

Grayson brings over 30 years of experience in the financial services industry and the London insurance market, with a proven track record in leading global technology teams. His role will focus on leveraging the latest technology solutions to improve underwriting and claims processes and drive the company’s digital transformation initiatives.

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