Ascot Group, the Bermudian-based global specialty insurance company, has appointed industry veteran Pat Stoik as executive vice-president, head of marine, for Ascot US.

Mr Stoik, who is to join on October 24, will report directly to Matt Kramer, chief executive of Ascot US.

The company said Mr Stoik has more than 35 years of senior management, underwriting and broker experience.

Most recently, Ascot said, he served as chief risk officer for Overhaul Group Inc, a global leader in in-transit supply chain risk management, where he was responsible for the company's insurtech business strategy and played a key role in elevating and consulting on Overhaul’s presence in the insurance market.

Mr Kramer said: "At Ascot we are committed to adding best-in-class talent to our underwriting units while providing a client-centric approach to our service, products and solutions.

"Pat is a seasoned leader in the industry, and his deep knowledge in the marine space will support our continued success and growth in the critically important US marine market."

Mr Stoik will be based in New York.

Founded in 2001, Ascot Group provides a broad range of property and casualty products to customers worldwide through its Lloyd's and Bermuda market platforms.

In the United States, Ascot provides specialised insurance products to small and mid-sized businesses as well as offering underwriting services to high-quality carrier and syndicate partners through its MGU, Ethos Specialty.