Ascot launches management liability and financial institutions group

Ascot has launched a management liability and financial institutions group, with the appointment of Ryan Becker as executive vice president.

The new group will offer a wide range of admitted and non-admitted, primary and excess D&O and FI products. The D&O products will focus on the wholesale channel while the FI products will be distributed to brokers through a proprietary, data driven automated technology platform initially focusing on investment advisor offerings.

With 25 years of experience, Becker will lead the newly-formed group from Ascot’s Atlanta office. Also joining the group, based in New York, Kenny Li has been appointed as senior vice president and head of financial institutions leading the FI product line.

The group is expected to launch in the first quarter of 2020.

Greg Wolyniec, president and chief executive, Ascot Insurance U.S. said: “Continuing the string of successful new business launches this year in Ascot Insurance U.S., we are excited to launch these new and much needed D&O and FI products to our brokers and clients. As with our other lines of business, we will continue to invest in best-in-class underwriting talent under Ryan’s leadership as we grow this group to match the sizeable market opportunity.”

Get all the latest re/insurance industry news with our daily newsletter -  sign up here.

Mapfre shares fall 4.6% and Mapfre Re sees decline  in profit

Argo Group appoints new executive VPs with new reporting structure for Americas

Insurers welcome unanimous vote for bill to extend TRIA

Catastrophe insurance data firm PERILS to include New Zealand in coverage

Ironshore  names Thomas Leahy as president of IronPro

Feature:  10 ways insurers are using insurtech to drive new business