The three-strong team of healthcare reinsurance transferring from Hiscox Re to Ascot in Bermuda are looking to “develop innovative and high-quality products for clients and brokers”.

As reported by The Royal Gazette earlier today, the team is transferring following an agreement between the two companies.

Ian Thompson, Nick Williamson and Justin Keith will join Ascot on March 1, subject to regulatory and immigration approval. They will underwrite healthcare, casualty treaty, and specialty reinsurance business, based in Ascot’s office in Bermuda.

Mr Thompson is the global healthcare practice leader for Hiscox Group and head of casualty for Hiscox Re. He has 22 years of insurance experience and began his insurance career as a professional lines broker before moving to underwriting 20 years ago.

Mr Williamson is vice-president healthcare for Hiscox Re (Bermuda). He has 20 years of insurance experience and began his career as an actuarial analyst.

While Justin Keith is vice-president underwriting for Hiscox Re (Bermuda), and has 18 years of insurance experience. He began his career underwriting hospital professional liability before moving to healthcare.

In a statement, Andrew Brooks, chief executive officer of Ascot Underwriting Ltd, said: “I am delighted to welcome Ian, Nick, and Justin to Ascot. Their extensive experience in healthcare insurance will enable Ascot to offer our clients valuable expertise in this class of business.”

Mr Thompson said: “The team is very excited to be joining Ascot, where we will look to develop innovative and high-quality products for clients and brokers that know us well.”

In an earlier statement, Hiscox said: “We have been in discussions with the healthcare team about how healthcare would fit into the longer term plans for Hiscox Re.

“The team has found a good opportunity at Ascot in Bermuda and we have entered into an agreement to effect this transfer. This transfer gives us the opportunity to focus on core reinsurance business.

“Although we are no longer writing healthcare from Bermuda, this transfer does not impact our other healthcare insurance lines. We are open for business in the London market and have a growing appetite for retail healthcare business in Hiscox USA and Hiscox UK.”