Ascot builds up US network with new offices in two states

AIG-owned Lloyd’s managing agent Ascot Underwriting is opening two offices in the US.

The underwriting offices in Chicago, Illinois, and Hartford, Connecticut, will focus largely on property facultative reinsurance. This will give Ascot access to US business that does not typically get placed in Lloyd’s.

The two new offices will also enable the company to establish a presence in the north-east of the country, building on the business it already operates in Houston, Texas.

Ascot has hired Rory Cline as executive vice-president to run the Chicago office. He was most recently the founding chief executive of reinsurance firm DirectFac.

Paul Amrose will lead Ascot’s Hartford office as senior vice-president after also joining from DirectFac, where he was chief underwriting officer.

Andrew Brooks, Ascot’s chief executive, said the company was confident that the two new US offices would lead to growth.

“We are very excited by the addition of Rory and Paul to drive Ascot’s US expansion,” he said. “We have known and worked with them for several years and they bring to Ascot a wealth of experience and expertise, with a well established following and a history of profitable underwriting.”

Cline added: “Joining Ascot is an exceptional opportunity for Paul and me and we are very excited to be a part of Ascot’s US expansion.”