Ascot appoints new CEO of US insurance from rival Arch

Specialist re/insurer Ascot has hired a new chief executive officer (CEO) of its US insurance operations from rival Arch. Group president Jonathan Zaffino has personally known the executive for over two decades and has "full confidence" in his leadership.

Based in New York, Matthew Kramer will lead all facets of Ascot’s US insurance operations, with direct responsibility for underwriting performance, new product development, and oversight of the further strategic development and growth of the US platform. He will lead a team of professionals, underwriting a diverse range of products in both the wholesale and retail markets.

He will report directly to Zaffino, and will join Ascot later in Q1 upon the completion of his contractual obligations with Insurance Group where he most recently held the position of executive vice president.

Since 2009, Kramer held growing leadership responsibilities within Arch, most recently overseeing its professional liability and healthcare divisions. Additionally, over the course of his 24-year career, he has held senior positions at Reliance National and The Hartford, underwriting a variety of executive lines, professional lines and property and casualty specialty coverages.

Zaffino said he has personally known Kramer for over 20 years and can attest to the "differentiated leadership and underwriting skills" he brings to Ascot. “I have full confidence that our US specialty insurance operations will continue on the path of growth and profitability, and will do so in the collaborative and thoughtful Ascot Way under Matt’s leadership,” he said.

Kramer commented: “I am incredibly excited to join Ascot and to lead the US insurance business at this stage in the company’s evolution. I have great respect for Ascot’s executive team and underwriting leadership – many of whom I have known as industry colleagues for several years and am thrilled to collaborate with such a talented group of industry professionals. I admire Ascot’s underwriting discipline, reputation in the global insurance marketplace, and strong corporate culture.

“I am grateful for the opportunity to partner with Jon Zaffino and the broader Ascot team and I am looking forward to contributing to the profitable expansion of a truly unique platform.”