Ascot reveals new Bermuda CEO as Berger departs
Bermuda re/insurer Ascot has promoted Ian Thompson to chief executive officer (CEO) of its Bermuda operations following the departure of John Berger.
Berger is set to retire at the beginning of March 2021 after three years helping to establish the company's presence in Bermuda. He will continue to advise and provide consultation to Ascot.
Thompson will assume leadership of Ascot’s business on the island, which includes specialty insurance, reinsurance and alternative capital capabilities underwritten from the Group’s ‘A’ rated Bermudian platform.
He joined Ascot in 2017 as head of casualty & specialty, before being promoted to executive vice president and chief underwriting officer for casualty & specialty in 2020. He joined Ascot after almost a decade at Hiscox Re as head of casualty & specialty. Prior to moving to Bermuda, Thompson worked at Catlin, heading the healthcare and professional lines practice in London.
In his new role, Thompson will report to Jonathan Zaffino, group president, who said: “Ian’s been instrumental in our efforts to thoughtfully expand our Bermuda operations, which now includes leading solutions across several major insurance and reinsurance classes. The impressive evolution of our capabilities and growing portfolio over the past few years is testament to the work of our talented colleagues on the island. Ian is an excellent choice to now take the helm and oversee all of our underwriting capabilities as we continue to push our unique risk, tech and client-centric approach and deliver superior long-term risk adjusted returns.”
Zaffino added: “I also want to take the opportunity to extend my sincere gratitude to John Berger for all he has done for Ascot. He’s had an impactful role in developing our Bermuda business and I wish him a very happy retirement after a storied reinsurance career. We look forward to his continued advice and counsel in his new advisory capacity.”
Thompson commented: “It’s a great privilege to succeed John Berger as Chief Executive at one of Bermuda’s leading (re)insurance businesses. Since joining in 2017, we’ve worked hard to develop a wide offering of solutions for our clients, focusing on superior underwriting underpinned by world class service and infrastructure. Our strong ratings, and enhanced corporate and strategic depth across Ascot, puts us in an excellent position to continue on our journey of growth and profitability. I look forward to working closely with Jon and the excellent team here in Bermuda in pursuit of our goals.”
Did you get value from this story? Sign up to our free daily newsletters and get stories like this sent straight to your inbox.
