Bermuda-domiciled specialty insurance and reinsurance group Ascot has appointed its US insurance boss.
In a release, Ascot Group said Matthew Kramer is joining later in the quarter to take on the role of chief executive for the firm’s insurance operations in the US. He is making the switch from Arch Insurance Group where Kramer most recently served as executive vice president.
“I am incredibly excited to join Ascot and to lead the US insurance business at this stage in the company’s evolution,” commented the key hire, who will come onboard after completing his current contractual obligations.
“I have great respect for Ascot’s executive team and underwriting leadership – many of whom I have known as industry colleagues for several years and am thrilled to collaborate with such a talented group of industry professionals. I admire Ascot’s underwriting discipline, reputation in the global insurance marketplace, and strong corporate culture.”
Reporting directly to group president Jonathan Zaffino, Kramer will be based in the New York office and will collaborate closely with Ascot’s North American leadership team. He will be in charge of underwriting performance, new product development, and oversight of the US unit’s further strategic development and growth.
For Zaffino, it is his “sincere pleasure” to welcome the incoming chief. The president stated: “I have personally known Matt for over 20 years and can attest to the differentiated leadership and underwriting skills he brings to Ascot.
“Matt will lead a talented team of professionals, underwriting a growing and diverse range of products in both the wholesale and retail markets. I have full confidence that our US specialty insurance operations will continue on the path of growth and profitability, and will do so in the collaborative and thoughtful Ascot Way under Matt’s leadership.”
Kramer, whose 24-year career also spans time spent at Reliance National and The Hartford, is just as pumped to assume the post.
“I am grateful for the opportunity to partner with Jon Zaffino and the broader Ascot team,” he added, “and I am looking forward to contributing to the profitable expansion of a truly unique platform.”
Earlier this month, Ascot also tapped a group chief information officer in the form of Michael Kerrigan. Leading all aspects of the group’s technology portfolio, the new CIO will drive forward group strategy to create what Ascot described as a tech-centric and agile global organization.