AIG-owned firm makes deposit at Lloyd's

Ascot Underwriting has deposited an additional $100m at Lloyd's to support its 2009 business plan.

The company said the funds "address the foreign exchange movements over the past several months and give Ascot the ability to expand in 2009".

Andrew Brooks, chief executive of Ascot Underwriting, said: "We are delighted with the unwavering commitment that we received from our capital provider when we asked for additional funds not only to support but also expand our 2009 business plan.

"The underwriting environment is changing on a daily basis, providing Ascot with opportunities, particularly in the reinsurance and offshore energy sectors."

Nicholas Walsh, President and chief executive of AIU, said: "Ascot is an important and core part of AIU and will be a key component of the recently announced AIU Holdings."

The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.

Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.

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