Ascot Renewco News

Ascot Drives Growth Through US Expansion

Posted 19 April 2009

LONDON, 20 April 2009 - Ascot Underwriting Ltd. today announced its further expansion in the US with the opening of underwriting offices in Chicago, IL and Hartford, CT, subject to regulatory approval. These offices will focus primarily on property facultative reinsurance for clients and brokers in the US, supporting the existing Houston TX office and giving Ascot a critical North Eastern presence. This move will also allow Ascot to access US business that does not typically get placed in Lloyd's.

To spearhead the launch of Ascot in Chicago, Rory Cline is joining Ascot as Executive Vice President. He has 27 years of underwriting experience in the insurance industry, with the last 23 years in reinsurance. Rory was most recently the founding CEO of DirectFac, Inc.

Paul Amrose will head up the Ascot Hartford office as Senior Vice President. Paul has 23 years of underwriting experience in property reinsurance and was also a founding member of DirectFac, Inc., serving as Chief Underwriting Officer.

Andrew Brooks, CEO of Ascot Underwriting said, "We are very excited by the addition of Rory and Paul to drive Ascot's US expansion. We have known and worked with them for several years and they bring to Ascot a wealth of experience and expertise with a well established following and a history of profitable underwriting. We are very confident that the opening of two more offices in the US will mark another key milestone in the Ascot story."

Rory Cline added, "Joining Ascot is an exceptional opportunity for Paul and me and we are very excited to be part of Ascot's US expansion. We look forward to working with their team of first class and very successful insurance and reinsurance professionals and responding to the needs of our existing and new customers."