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Ascot Announces Bermuda Insurance Leadership Appointments

HAMILTON, Bermuda – May 2, 2024 – Ascot Group today announced that Michael Watkins has been appointed to the newly created role of Head of Bermuda Insurance, pending immigration approval. Jason Pugi has been named Head of Bermuda Excess Casualty.

In this new role, Mike, supported by the Bermuda platform’s talented segment leaders, will be a critical asset to the strategic development, refinement, and expansion of Ascot’s offerings, while providing enhanced structure and cohesion to the greater Bermuda insurance team. He will be tasked with driving the company’s mission to be a perfect partner for a less-than-perfect world by delivering specialty insurance offerings to solve clients’ evolving risks in Bermuda.

Mike, most recently Senior Vice President, Bermuda Excess Casualty at Ascot, has more than two decades of industry experience at global specialty insurance companies including Chubb, Liberty Mutual and Allied World, and a proven record of leadership and underwriting acumen in his five-year tenure at Ascot.

Jason, previously Ascot Senior Vice President, Bermuda Excess Casualty, will lead all aspects of the Bermuda Excess Casualty business. He has 25 years of underwriting experience, including roles of increasing responsibility at Allied World, AIG, and Chubb.

“Ascot is committed to our Bermuda insurance division as both a valuable and trusted provider of key offerings for our clients, and as a driver of business diversification and profitability,” said Ian Thompson, Ascot Bermuda Chief Executive Officer. “The promotion of both Michael and Jason reflects the deep bench of talented and experienced insurance professionals we have at Ascot. I am certain they will both be critical to our continued strategic relevance in the Bermuda insurance market.”

This communication is intended for informational purposes only. Statements of coverage availability and scope are general in nature, subject to change and underwriting of any individual risk, and provide no guaranty or warranty of coverage, express or implied. Products and services are offered through insurance company affiliates within the Ascot Group. Not all products and services are available in every jurisdiction, and some may be available in the United States only on a surplus line basis through licensed surplus line brokers. The precise coverage afforded by any insurer is subject to the actual terms and conditions of the policies as issued. The publication and delivery of the information contained herein is not intended as a solicitation for the purchase of insurance on any US risk. California Surplus Lines License: Ascot General Insurance Agency, Inc. License #: 0K61371.