Ascot Group has restructured its operations to create a dedicated consumer solutions division and a new specialty insurance and reinsurance unit, naming Elizabeth Johnson and Christopher Flatt to lead the respective business segments. The reorganization, announced on Tuesday, splits the specialty insurer’s underwriting operations into a newly created division and establish a separate consumer lines business as part of an executive shuffle.
Elizabeth Johnson Leads New Specialty Insurance Unit
Elizabeth Johnson will take over as president of the newly created specialty insurance and reinsurance division effective October 1. The division consolidates Ascot’s global specialty, Bermuda specialty, third-party capital, alternative reinsurance, and U.S. specialty businesses. Johnson currently serves as Ascot’s group chief operating officer. She joined the firm in 2020 as chief underwriting officer for North America following senior roles at Nationwide and American International Group.
Christopher Flatt Takes Charge of Consumer Solutions
Christopher Flatt will join Ascot in early November as president of the consumer solutions division. The newly established unit will focus on consumer-focused classes of business, including high-net-worth personal lines. Flatt most recently served as global chief underwriting officer at American International Group.
Mark Pepper Appointed President of Global Underwriting
Mark Pepper will step into the role of president of global underwriting on October 1, overseeing operations across the United Kingdom, the United States, and Bermuda. Pepper has served as Ascot’s group chief underwriting officer since 2009. In his new capacity, he will collaborate with segment chief executive officers on growth strategies, business development, and cross-divisional coordination. Johnson, Flatt, and Pepper will all report directly to Ascot Group Chief Executive Officer and President Jonathan Zaffino.
Executive Transition Details
- Elizabeth Johnson: Becomes president of specialty insurance and reinsurance on Oct. 1; previously group COO.
- Christopher Flatt: Joins in early November as president of consumer solutions; former global chief underwriting officer at AIG.
- Mark Pepper: Named president of global underwriting on Oct. 1; transitions from group chief underwriting officer.
- Reporting Structure: All three executives report to Ascot Group CEO and President Jonathan Zaffino.
Corporate Reorganization Questions
When do the executive appointments take effect?
Elizabeth Johnson and Mark Pepper assume their new roles on October 1, while Christopher Flatt joins the firm in early November.
What markets will the consumer solutions division target?
The consumer solutions division will offer coverage across consumer-focused classes, specifically targeting high-net-worth personal lines.
Which operations fall under the specialty insurance division?
The specialty division encompasses Ascot’s global specialty, Bermuda specialty, third-party capital, alternative reinsurance, and U.S. specialty businesses.
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