Fidelis Insurance (“Fidelis”) today announced that it has initiated a new venture with Rob Ashton. The new venture, which will begin underwriting on 01 January 2018, will focus on niche specialty excess of loss business; particularly the high growth Cyber Reinsurance market. Fidelis will provide the working capital and the cornerstone capacity to the venture.
Ashton has an excellent track record for providing innovative reinsurance solutions in niche markets, and has joined Fidelis as a specialty reinsurance underwriter. He will underwrite on Fidelis’ account while the new venture is being finalised. Prior to this he served for over four years as head of specialty at Hiscox Re Specialty.
Rob Ashton said: “This is an exciting new chapter in my career. Partnering with Fidelis has been a refreshing experience. They have been very receptive to my ideas and we both share the same vision which will enable us to build truly dynamic and profitable business.”
Richard Brindle, Group Chief Executive Officer of Fidelis Insurance said: “The creation of this venture, signals the beginning of our strategy to identify and attract specialist underwriting talent with innovative and closely defined products. Our unique market vision and entrepreneurial pedigree will mean that we will be a high value destination for these underwriters.”
About Fidelis Insurance
Fidelis Insurance Holdings Limited is a privately owned Bermuda-based holding company, which, through its wholly-owned subsidiaries, is a global provider of specialty insurance and reinsurance products for property, energy, and marine risk classes. Fidelis employs a total return strategy by tactically shifting capital and risk between insurance and investments to maximize the return on equity across market cycles. Fidelis is rated A- (Excellent) by A.M. Best Company, Inc. Additional information regarding Fidelis may be found at www.fidelisinsurance.com.