Ascot hires former Axa XL exec as head of alternative risks

Ascot Group Monday named former Axa XL executive Mark Benz to the newly created role of executive vice president, head of alternative risk solutions.

He will be based in the New York City area and report to Matt Kramer, CEO of Ascot U.S., Ascot said in a statement.

Mr. Benz will focus on captive solutions and fronting opportunities. The alternative risk solutions group will also consist of the company’s existing captives and trade credit business units.

He most recently built out Axa’s group captive practice while leading its North American Alternative Risk Structures, the Ascot statement said.

Prior to joining Axa XL, a division of Axa SA, he was with American International Group Inc. for 16 years, most recently as head of AIG captive solutions.