Ascot taps ex-AIG/Chubb underwriter for financial lines expansion

Bermuda-based  Ascot Group plans to expand its directors’ & officers’ liability business into the private and non-profit sector with the appointment of a seasoned underwriter with 25 years experienced in the D&O sector.

Salvatore Collura (pictured) will be senior vice president, private and non-profit management liability, and will report to Brian Chiolan, head of management and professional liability.  

Collura previously started up the private and not for profit sub-vertical at Coaction Specialty Insurance Group.  Prior to joining Coaction, he spent five years at Everest, where he established the company’s Private Company/not-for-profit group and led a team of 20 underwriters across seven regions.

He also spent significant time in D&O underwriting and management roles at both Chubb and AIG.

At Ascot, Collura will be responsible for executing the strategic plan for Ascot’s private and non-profit D&O business and driving the expansion and development of products and services in the space., the company said.

“Sal’s expertise and demonstrated track record of building and expanding business units for profitable growth will enable us to capitalise on the market opportunity in the private and non-profit underwriting space,” said Chiolan.

“Additionally, as we continue to expand our bench of management liability talent, Sal’s strong leadership skills and experience in the space will be critical to the growth and development of our team. We are thrilled to welcome him to Ascot.”

Ascot Financial Lines is considered to be a core segment for Ascot US, and one of the company’s largest specialty businesses.

The Ascot US Financial Lines segment now includes more than 50 underwriting professionals across public and private D&O, financial institutions, cyber, E&O and healthcare professional liability, as well as a dedicated in-house claims team who specialize in these business units, the company said.