Fidelis and former Hiscox Re specialty head launch joint venture

Bermuda-based specialty re/insurance provider Fidelis Insurance has announced a new specialty joint venture with former Hiscox executive Rob Ashton.

The new venture will begin underwriting from January 2018, and will focus on niche specialty excess of loss business, particularly the high growth cyber reinsurance market. Fidelis will provide the working capital and the cornerstone capacity to the venture.

Ashton joins Fidelis as a specialty reinsurance underwriter. He will underwrite on Fidelis’ account while the new venture is being finalised.

Prior to this, Ashton served for over four years as head of specialty at Hiscox Re Specialty.

"This is an exciting new chapter in my career," Ashton said. "Partnering with Fidelis has been a refreshing experience. They have been very receptive to my ideas and we both share the same vision which will enable us to build truly dynamic and profitable business."

Richard Brindle, group chief executive officer of Fidelis Insurance commented: "The creation of this venture, signals the beginning of our strategy to identify and attract specialist underwriting talent with innovative and closely defined products. Our unique market vision and entrepreneurial pedigree will mean that we will be a high value destination for these underwriters."

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