Ascot launches Leadline Capital Partners to support expanded third-party capital business

Ascot, the Bermuda-domiciled global specialty insurer, has launched a unified capital management platform, Leadline Capital Partners, to support its expanded third-party capital business.

Under the Leadline Capital platform, Ascot has strategically partnered with institutional investors to provide collateralized reinsurance for its global property portfolio through a Bermuda special purpose insurer.

Ascot says that these developments represent an important evolution in its capital partnership business, building on the back of a four-year track record of strong returns, with to date ceded gross premiums above $225 million.

Charles Craigs, Group Managing Principal for Third-Party Capital, Ascot, commented, “Through Leadline Capital PartnersTM, we are drawing on Ascot’s heritage of excellent underwriting and creative risk solutions to provide attractive and innovative offerings to third-party capital. We are very pleased to announce the latest collaboration as we expand this business.”

Justin Keith, Bermuda Limited President and Chief Executive Officer, Ascot, added: “We look forward to the continued expansion of our alternative capital business under Leadline Capital Partners™.

“This business represents the best of all worlds for Ascot and its stakeholders: incremental capacity delivered to our insured and reinsured clients, an attractive risk-adjusted return profile to a leading capital partner, and the continued opportunity for the company to deliver its world-class capabilities to both clients and investors.”

Aon Securities LLC acted as the sole structuring agent and placement agent for the capital partnership transaction, Willkie Farr & Gallagher LLP provided principal legal counsel.

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