Ascot, the Bermuda-based global specialty insurer, has launched a unified capital management platform called Leadline Capital Partners to support its expanded third-party capital business.
As part of the Leadline Capital platform, Ascot has entered into a strategic partnership with institutional investors to provide collateralized reinsurance for its global real estate portfolio through a specialist insurer in Bermuda.
Ascot said these developments represent an important development in its capital partnerships business and build on a four-year track record of strong returns, with over $225 million in gross premiums written to date.
Charles Craigs, Group Managing Principal for Third-Party Capital, Ascot, commented: “Through Leadline Capital PartnersTM, we are leveraging Ascot’s experience in excellent underwriting and creative risk solutions to deliver attractive and innovative third-party capital offerings. We are delighted to announce this latest collaboration as we expand this business.”
Justin Keith, President and CEO of Bermuda Limited, Ascot, added: “We look forward to further expanding our alternative capital business under Leadline Capital Partners™.
“This deal represents the best of all worlds for Ascot and its shareholders: additional capacity for our insured and reinsured clients, an attractive risk-adjusted return profile for a leading capital partner and the continued opportunity for the company to offer its world-class capabilities to both clients and investors.”
Aon Securities LLC acted as sole structuring and placement agent for the equity partnership transaction, and Willkie Farr & Gallagher LLP acted as lead legal advisor.
