Ascot today announces the retirement of Homi Mullan as Non-Executive Director (NED) of Ascot Underwriting Limited (AUL), the Managing Agent for Syndicate 1414 at Lloyd’s. Homi has relinquished his chairmanship of the Audit and Investment Committees and will formally step down from the Board before the end of the year.

Homi is the longest serving member of the AUL Board, having been appointed to AUL’s first Board of Directors at Ascot’s inception in October 2001. During a career spanning more than forty years in financial services, he has held a number of senior executive and non-executive roles including eighteen years at JP Morgan, rising to be Vice Chairman of Investment Banking in London.  Homi currently provides corporate finance advice to selected international clients through Peregrine Partners which he established in Dubai in 2007. 

Ascot also announces the appointment of Andrew Birrell to the Board of AUL as NED and Chair of its Audit Committee and Investment Committee with immediate effect.

Andrew joins the AUL board after a distinguished career in risk management and financial services organisations, having previously been Group Chief Risk Officer and Chief Actuary of Old Mutual Plc and Chief Financial Officer of Guardian Financial Services. Andrew also holds other non-executive positions across the insurance sector including at esure, Sun Life of Canada and SANLAM Group. 

Andrew Brooks, Ascot Group CEO commented:

“On behalf of all at Ascot, I wish to thank Homi for all his support during his time at Ascot and all he has done to help grow Ascot to where we are today. Appropriately, as we’ve just celebrated our 20-year anniversary, Homi has decided to use the milestone as the right timing to retire from our Board. I also wish to add a personal note of gratitude for all his guidance and wish him the very best into the future.”

“I would like to extend a warm welcome to Andrew as he joins the AUL Board. He has extensive experience in senior financial services risk positions, and I know his counsel will be greatly appreciated as we continue to manage one of the leading Syndicates at Lloyd’s.”

ENDS