Bermudian-based Ascot Group has established a dedicated global parametric capability to provide insurance and reinsurance solutions across a broad base of property exposures.

Led by chief underwriting officer Mark Pepper, and supported by the London property underwriting team, the company said this enhanced capability will complement the company’s current global property offering, providing innovative alternative solutions to support the evolving needs of clients in the space.

Ascot’s parametric solutions – available across perils and a range of industries – are designed to provide critical, accessible coverage to clients in an increasingly volatile risk landscape.

As natural catastrophes continue to increase in both frequency and severity, Ascot’s experienced property underwriters and climate risk specialists can offer bespoke parametric policies to help protect clients against the occurrence of a specific, trigger-based event, the company said.

Mr Pepper said: “Ascot remains a leading property [insurance and reinsurance] underwriter and is committed to the class across both the traditional and alternative markets.

“We recognise that today’s Nat Cat clients are increasingly looking for new and flexible coverage offerings to help reduce protection gaps, support resiliency plans, and manage volatility in their businesses, and alternative solutions like parametric products enable them to access coverage for risks that may not be optimal for the traditional property market.

“In an uncertain world, we are committed to providing stability, diversity, and creativity in our property solutions over the long term.”