Ascot launches capital management platform for third-party Capital Biz

Ascot Group Ltd., the Bermuda-based global specialty insurance company, has announced the launch of a unified capital management platform, Leadline Capital Partners, to support its expanding third-party capital business.

As part of this newly formed platform, Ascot also announced that the company has partnered with institutional investors to provide guaranteed reinsurance for its global property portfolio through a special purpose insurer in Bermuda.

These developments represent an important evolution in Ascot’s capital partnership business, building on a four-year track record of strong returns, with over $225 million in gross ceded premiums to date, Ascot said in a statement.

“Through Leadline Capital Partners, we build on Ascot’s legacy of excellent underwriting and creative risk solutions to deliver attractive and innovative third-party capital offerings,” said Charles Craigs, Ascot Group’s Managing Director of Third-Party Capital. “We are very excited to announce our latest collaboration as we expand this business.”

“We look forward to the continued expansion of our alternative capital business within Leadline Capital Partners,” according to Justin Keith, President and CEO of Ascot Bermuda Ltd. “This deal represents the best of all worlds for Ascot and its stakeholders: the incremental capacity provided . for our insured and reinsured clients, an attractive risk-adjusted return profile for a leading capital partner and the continued opportunity for the company to deliver its world-class capabilities to clients and investors alike.”

Aon Securities LLC acted as sole structuring agent and placement agent for the equity partnership transaction with Willkie Farr & Gallagher LLP providing lead legal counsel.

Established in 2001, Ascot offers a wide range of property and casualty products to clients worldwide through its Lloyd’s and Bermuda market platforms. In the United States, Ascot offers specialty insurance products to small and medium-sized businesses, as well as underwriting services to carriers and high-quality syndicate partners through MGU, Ethos Specialty.

Ascot Group is owned by CPP Investments, a global investment management organization that invests Canada Pension Plan assets.

Source: Ascot Group

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