Ascot Renewco News

Ascot's funds lodged at Lloyd's

Posted 19 November 2008

Ascot Underwriting is pleased to announce that AIG has lodged the funds at Lloyd's to support our 2009 business plan. With our capacity in place we are ready to support our clients in their 1/1 renewals and welcome new clients to work with us.

Ascot's 2009 stamp is £470m, up from £450m in 2008. We have raised our capacity in anticipation of hardening rates after hurricanes Gustav and Ike. In 2009 we will continue to focus on our core lines of business through our offices in London, Houston, Singapore and Bilbao.

Ascot remains committed to providing the best service to meet the needs of our brokers and clients. We are part of the Lloyd's Chain of Security and all policies written by Ascot are backed by the security of the Central Fund.

Andrew Brooks, CEO of Ascot Underwriting said, "I am delighted that AIG has provided the funds for our 2009 business plan at Lloyd's. I believe that the combination of trading on the Lloyd's platform and the continued and unwavering support of AIG makes working with Ascot a very compelling proposition."

Lloyd's Financial Strength rating is A (Excellent) from AM Best and A+ (Strong) from S&P and Fitch.*

*As at 19 November 2008