Ascot beefs up Bermuda leadership in expansion move

The Bermuda-based re/insurer has also promoted Jason Pugi to be head of Bermuda excess casualty.

Ascot said Watkins will be “a critical asset to the strategic development, refinement, and expansion of Ascot’s offerings, while providing enhanced structure and cohesion to the greater Bermuda insurance team”.

Watkins, most recently senior vice president, Bermuda excess casualty at Ascot, has spent more than two decades at global specialty insurance companies including Chubb, Liberty Mutual and Allied World, and a proven record of leadership and underwriting acumen in his five-year tenure at Ascot.

Pugi, previously senior vice president, Bermuda excess casualty, will lead all aspects of the Bermuda Excess Casualty business. He has 25 years of underwriting experience, including roles of increasing responsibility at Allied World, AIG, and Chubb.

“Ascot is committed to our Bermuda insurance division as both a valuable and trusted provider of key offerings for our clients, and as a driver of business diversification and profitability,” said Ian Thompson, Ascot Bermuda chief executive officer. “The promotion of both Michael and Jason reflects the deep bench of talented and experienced insurance professionals we have at Ascot. I am certain they will both be critical to our continued strategic relevance in the Bermuda insurance market.”

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