Ascot taps former Chubb talent to expand in US marine market

Specialist re/insurer  Ascot Group has hired a seasoned marine insurance executive with a background at Chubb, Great American to lead its US portfolio.

Pat Stoik (pictured) will join the company as executive vice president, head of marine, Ascot US. He will be based in New York and will report directly to Matt Kramer, chief executive officer, Ascot US.

An experienced executive in the marine industry, Stoik has more than 35 years of senior management, underwriting, and broker experience. Most recently, Stoik served as chief risk officer for Overhaul Group, an in-transit supply chain risk management company, where he was responsible for the company's insurtech business strategy and played a key role in elevating and consulting on Overhauls' presence in the insurance market.

Stoik has also spent time at major P&C insurance companies including Great American Insurance Group, where he oversaw four underwriting divisions – including ocean and inland marine, in the US and Europe. He began his insurance career at Chubb, where he spent more than 25 years in roles of increasing responsibility, most recently as senior vice president, worldwide marine, overseeing their ocean marine, inland marine, asset affinity, and entertainment portfolios.

He is also a longtime member of the Inland Marine Underwriters Association, having previously served as vice chair on the board of directors and chairman of the Education Committee.

Kramer said: "At Ascot we are committed to adding best-in-class talent to our underwriting units while providing a client-centric approach to our service, products, and solutions. Pat is a seasoned leader in the industry, and his deep knowledge in the Marine space will support our continued success and growth in the critically important U.S. Marine market."

Did you get value from this story?  Sign up to our free daily newsletters and get stories like this sent straight to your inbox.