Berger to lead new Ascot Re
New reinsurance platform chooses Bermuda
The Association of Bermuda Insurers & Reinsurers (ABIR) has announced that John Berger, chief executive officer (CEO) of Ascot Re, is to join the ABIR Board of Directors.
The Ascot Reinsurance Company membership application was approved at the ABIR Board meeting in July. Headquartered in Bermuda, Ascot Group has offices in London, Houston, New York, Chicago, Dallas, and Singapore with expertise spanning a wide range of lines of business.
“Ascot Re is an excellent addition to the ABIR Board,” said Kevin O’Donnell, president and CEO of RenaissanceRe Holdings and current chair of ABIR. “We are confident that Ascot Re will contribute significantly to our collective efforts of continuing to build Bermuda’s global insurance market.”
ABIR has also created a re/insurance broker membership program, the ABIR Broker Advisory Cabinet. This special advisory body allows for a simultaneous relationship and collaborative efforts among Bermuda’s leading (re)insurers and now brokers to sustain Bermuda’s international re/insurance market. Bermuda is recognised as a US qualified jurisdiction and is deemed EU Solvency II equivalent with market participants conducting business around the globe.
The inaugural members of the ABIR Broker Advisory Cabinet will be Lara Mowery of Guy Carpenter; Tony Fox of AON and Chris McDowell of Willis Towers Watson.
“As ABIR marks its 25 years of innovation and leadership, we continue to grow and expand the successful model of ABIR,” said John Huff, president & CEO of ABIR. “The establishment of the ABIR Broker Advisory Cabinet – and these three leading brokerages – help cement the future of Bermuda as the World’s Risk Capital.”
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