Ascot

Bishop Street closes in on Ethos TL deal with support from Skyward and Topsail Re

Bishop Street Underwriters is close to agreeing a clean lift of the circa $140mn-premium Ethos Specialty transactional liability business from Ascot, with the Navine Aggarwal-led team expected to hold a meaningful equity position in the unit, Program Manager understands.

Program Plus and IRM switch preferred hab program capacity provider to Ascot

One80 Intermediaries’ Programs Plus and Innovative Risk Management have switched the capacity provider supporting their preferred habitational program from Argo’s Colony Insurance Company to Ascot Specialty Insurance Company.

Ryan Specialty agrees deal to buy Ethos P&C MGUs from Ascot

Ryan Specialty has signed a definitive agreement to buy the P&C MGUs owned by Ethos Specialty Insurance from Ascot, with the exception of the platform’s transactional liability MGU, in a move first revealed by The Insurer and its sister publication Program Manager.

Ascot forms strategic partnership with Galway-owned MGA Paragon

Ascot Group has partnered with US national multiline managing general agent Paragon Insurance Holdings, with the first program partnership supporting public entity casualty insurance program Trident Public Risk Solutions.

Ascot US excess casualty head Vanderbeck resigns for new MGA

Ascot’s US head of excess casualty Brandon Vanderbeck has resigned from the carrier along with deputies Geoff O’Callaghan and Christopher Dacchille, with the trio expected to join a new MGA being set up by former colleague Pat Kenahan, The Insurer can reveal.

Ascot working with Evercore to assess strategic options for Ethos Specialty

Ascot and its owner CPP Investments are working with advisor Evercore to assess strategic options for MGU platform Ethos Specialty that could lead to a full sale, Program Manager can reveal.

Starfish launches community association program with Ascot

At the end of its first full year of operations program administrator Starfish Specialty Insurance has launched a trio of coverages as part of a community association offering with paper from Ascot and is preparing to launch a pipeline of other products in 2023, Program Manager can reveal.

Ascot sees significant growth opportunity in US programs and MGA space

Ascot’s expansive US insurance operations are targeting continued growth in the programs and MGA space, with management also telling this publication they welcome the introduction of AM Best’s Performance Assessments (PAs) to help differentiate the group’s own platform and assist in the due diligence process.

Ethos Specialty adds casualty exec Canfield

Ascot’s MGU platform Ethos Specialty has hired former Argo, AIG and Aspen executive Jeff Canfield as executive vice president for casualty and product innovation.

Ascot launches builders’ risk program with Highland

Ascot’s expansive US insurance platform has partnered with WNC Insurance Services’ MGA Highland Insurance Solutions to launch a builders’ risk insurance program for projects in the US on its non-admitted paper.

Ethos hires Legge from RT to grow strategic capital relationships

Ascot Group has hired Jonathan Legge from wholesale giant RT Specialty as executive vice president for strategic operations at its Ethos Specialty platform as it looks to deliver the most efficient capital to the MGU and its clients, The Insurer can reveal.

AM Best move validates Ethos Specialty’s “virtual insurer” model: Zaffino

In an interview with this publication, Ascot group president Jonathan Zaffino said that AM Best’s move to initiate performance assessments for delegated underwriting authority enterprises (DUAEs) validates the group’s efforts in the expansive build out of its MGU Ethos Specialty.

Ascot US adds Lyons to head new portfolio solutions unit

Ascot has hired former AIG executive Anthony Lyons to head up a new portfolio solutions underwriting division of its US insurance platform that will focus on MGA/MGU and tech partnerships.