Ascot Group Announces Executive Promotions

Ian Thompson has been appointed to Chief Executive Officer and Director of Ascot Underwriting Limited and Justin Keith to President and Chief Executive Officer of Ascot Bermuda Limited

New York, NY – June 6, 2024 – Ascot Group Limited, the Bermuda based global specialty insurance company, today announced the appointments of Ian Thompson to Chief Executive Officer and Director of Ascot Underwriting Limited (“AUL”) and Justin Keith to President and Chief Executive Officer of Ascot Bermuda Limited. These promotions represent a major step forward in Ascot’s evolution, organizational maturity, and highlights the bench of industry leaders within the organization.

Ian Thompson has been appointed to the position of CEO Director of AUL (subject to regulatory approval). Ian will replace Jonathan Zaffino as CEO and Director of AUL. He will relocate to London from Bermuda, where he has lived and worked for the past 15 years. In his new role, Thompson will continue to report to Zaffino in his role as Ascot Group President and CEO and will remain a member of the Global Executive Committee.

Thompson joined Ascot Bermuda in 2017, first as Chief Underwriting Officer of Casualty and Specialty, and then as President and CEO of Ascot Bermuda since December 2020, where he has overseen all Ascot business on the Island, including specialty insurance, reinsurance, and alternative capital. He has almost 30 years of experience as an Underwriter, Broker, and Executive in both London and Bermuda, and brings to his new role deep subject matter expertise, extensive relationships in the market, and an abiding passion for leadership and company culture.

Mark Pepper will continue to report to Zaffino in his role as Ascot Group CUO and member of the Group Executive Committee. Thompson’s arrival in London will enable Pepper to amplify his important role and meaningful impact on the underwriting and reinsurance strategies across the Group.

Justin Keith will be promoted to President and CEO Bermudan operations, in succession to Thompson. Justin’s appointment will be subject to board and immigration approval.
Keith joined Ascot in 2017, and has successfully served in roles of increasing responsibility, most recently in his role as Chief Underwriting Officer for Casualty & Specialty. A native of Chicago, IL, Keith has lived and worked in Bermuda since 2012 when he moved to the Island to assume leadership of the Specialty Reinsurance division of a major competitor. Keith began his insurance career 20 years ago and has held insurance and reinsurance leadership positions in the US, London, and Bermuda. Keith will also report to Jonathan Zaffino in his new role overseeing all aspects of Ascot’s Bermuda operations.

“Throughout Ascot’s history, Ascot Underwriting Limited (AUL) has earned a reputation for underwriting excellence and market leadership. Our vision for the Ascot Group’s future, including our multi-year strategic plans, will require increased investment in and continued profitable growth from our leading and flagship syndicate,” said Jonathan Zaffino. “Ascot’s ambitious agenda requires dedicated leaders at the helm of our operations who remain solely focused and dedicated in leading our talented teams of market leading professionals to work with our clients in addressing today’s risk challenges. I am beyond confident that Ian and Justin are the leaders to help lead Ascot through the next phase of our organization’s journey.”

For more information on Ascot’s leadership team and global interconnected platforms, please visit: https://ascotgroup.com/

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ABOUT ASCOT GROUP:

Ascot Group is a global specialty insurance and reinsurance group with a record of underwriting excellence and superior claims service. Founded in 2001, Ascot provides a broad range of property and casualty products to customers worldwide through its Lloyd’s and Bermuda market platforms. In the United States, Ascot provides specialized insurance products to small and mid-sized businesses as well as offering underwriting services to high-quality carrier and syndicate partners through its MGU, Ethos Specialty.
Ascot Group is owned by CPP Investments, a global investment management organization that invests the assets of the Canada Pension Plan. CPP Investments is the largest pension plan in Canada with over C$575 billion in invested assets, representing the retirement contributions of over 21 million Canadians. CPP Investments is rated ‘AAA’ by S&P and Moody’s.
For more information on Ascot, please visit https://www.ascotgroup.com.

MEDIA CONTACT:
Kristina Corso, Prosek Partners. Email: pro-ascot@prosek.com. Phone: 908-278-6225