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Home . International Insurance News . Europe . Ascot launches Commercial Motor Line

Ascot launches Commercial Motor Line

Thursday, February 04, 2010

Ascot launches Commercial Motor Line
London, February 4, 2010 – Ascot Underwriting Ltd. is pleased to announce the launch of a new line of business: Commercial Motor. Commencing underwriting from March 1, 2010 and writing commercial motor cover, the account will be serviced by Direct Commercial Ltd. and underwritten by Phil Cunningham, Managing Director of Direct Commercial Ltd.
 
“I am excited about the opportunities in the Commercial Motor market,” said Andrew Brooks, CEO of Ascot. “Direct Commercial has generated underwriting profits in this sector in each year of account since starting operations in 2002. Combining Direct Commercial’s proven track record with Phil Cunningham’s 18 years of experience and Ascot’s bespoke approach, we are confident that we are bringing a compelling offering to this market.”
 
Phil Cunningham said, “I am delighted to work with an organization as strong as Ascot. This new venture will offer our clients good policy wordings and fantastic service backed up by the security of Lloyd’s.”
 
Ascot Underwriting Ltd. – Syndicate 1414 – commenced trading in 2001 and has grown very quickly to become one of the leading businesses operating at Lloyd’s. The underwriting capital for the Syndicate is provided by a member company of American International Group, Inc.
 
Main Syndicate classes are Property, Energy, Specie & Fine Art, Cargo, Terrorism, War & Political Risks, Marine Hull/War/Liabilities and Excess of Loss Reinsurance. Ascot leads in most of these classes and leads over 40% of the slips we write.
 


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