The Ascott Group, a global reinsurance company headquartered in Bermuda, has launched a unified capital management platform called Leadline Capital Partners. The platform is designed to support the company’s growing third-party capital business.

As part of this initiative, Ascott has partnered with institutional investors to provide guaranteed reinsurance for its global property portfolio through a Bermuda-based special purpose insurance company.

Get the latest reinsurance news straight to your inbox twice a week. Sign up here

These developments represent a major step forward for Ascott’s capital partnership business, which has generated more than $225 million in gross premiums since its inception four years ago.

“Through Leadline Capital Partners, we are leveraging Ascot’s strong underwriting foundation and creative risk solutions to offer attractive and innovative options for external capital,” said Charles Craigs (pictured above), Ascot Group’s Senior Director of External Capital.

He also stressed the importance of the recent cooperation in expanding the scope of business.

Justin Keith, CEO of Ascott Bermuda Limited, expressed optimism about the continued growth of the alternative capital business under the new platform.

He noted that the business provides additional capacity for insured and reinsurance clients, offers an attractive risk-adjusted return to capital partners, and allows Ascott to continue to provide services to clients and investors alike.

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

Earlier this month, Ascott also announced the appointment of Ian Grayson as Chief Information Officer for the UK and Bermuda regions.

In this newly created role, Grayson will be responsible for developing and executing the technology transformation strategy, with the aim of driving technology-led innovation and growth for the company’s platforms in the UK and Bermuda.

Grayson brings over 30 years of experience in the financial services and insurance market in London, with a proven track record of leading global technology teams. His role will focus on leveraging the latest technology solutions to improve underwriting and claims processes and drive the firm’s digital transformation initiatives.

What do you think of this story? Feel free to share your comments below.

Get the latest reinsurance news straight to your inbox twice a week. Sign up here