Alcor Group enters US E&S market

Alcor Group, a property insurer backed by a unit of Ambac Financial Group Inc., announced Monday it has opened an office in Atlanta and hired Sophie DeCouto as CEO of its U.S. operation.

Ms. DeCouto, an excess and surplus lines specialist, most recently was vice president at Paragon Specialty Property, part of managing general agency platform Paragon Insurance Holdings.

Before that she held various management and underwriting roles at Ironshore Inc., IFG Cos., Axis Capital Holdings Ltd. and Allied World Assurance Co. Holdings Ltd.

Alcor, with offices in London and Bermuda, writes property insurance globally and is backed by Standard & Poor’s A+-rated Lloyd’s capacity.

Alcor also announced it has appointed Joshua Graham head of Alcor Group, succeeding Chris Fisher, who has moved to an advisory role.

Mr. Graham and Mr. Fisher co-founded London-based Alcor in 2020, backed by Beat Capital Partners Ltd. Ambac acquired Beat last year.