Ascot Group swoops for Everest's Jonathan Zaffino

Industry head to move after completing contractual obligations

Ascot Group swoops for Everest's Jonathan Zaffino

Insurance News

By Terry Gangcuangco

As previously reported, Jonathan Zaffino has resigned from Everest Re Group where he served as president and chief executive of the company’s insurance division. Now we know where Zaffino is headed once the insurance leader is done with his garden leave.

It’s been announced that Zaffino is making the switch to Ascot Group, having been appointed as group president of the Bermuda-domiciled specialty insurance and reinsurance enterprise. He will come onboard after completing his contractual obligations with Everest in the middle of June.

“I very much look forward to welcoming Jon to Ascot and working with him as we continue the build-out of our US and Bermuda businesses,” stated group CEO Andrew Brooks. “His appointment demonstrates the strength of Ascot’s franchise, our commitment to building a premier global re/insurance business, and to attracting industry leading talent.

“In a short space of time, we’ve made tremendous progress in the US and Bermuda, with an emphasis on underwriting discipline and the acquiring of high-quality teams. From this very solid foundation, having someone of Jon’s enormous experience and expertise in the insurance space will be hugely beneficial in building upon what we have achieved, helping to take Ascot to the next level.”

Zaffino, whose 26-year career spans both underwriting and brokerage leadership roles, was a managing director at Marsh before becoming president and chief executive of Marsh subsidiary Victor O. Schinnerer. He will be based in Ascot’s New York office, overseeing the US and Bermuda platforms as well as having executive responsibility for managing general underwriter (MGU) Ethos Specialty.

“I am thrilled to join Ascot at this exciting time in its evolution,” commented Zaffino. “I look forward to partnering with Andrew and the executive team, as well as all of the talented Ascot colleagues across the organisation to continue on this path of growth and transformation.”

Aside from its Bermuda, US, and MGU operating divisions, the group also operates in the UK through Ascot Underwriting – the managing agency for Syndicate 1414 at Lloyd’s of London.

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