Ascot has seen its premium business top $2bn since it was established in November 2001.

The company said it's underwriting capacity for 2005 stands at £410m.

Ascot has also recently expanded its team with the appointment of nine new underwriters, four of whom will be based in London and the others working from its new Paris-based operation.

Standard & Poor's has assigned London-based Ascot Corporate Name Ltd an ‘AAA' financial strength rating.

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