Bermudian-based specialty re/insurer Ascot Group has announced two executive promotions and a new hire.

Mark “Sarge” Pepper has been appointed president, global underwriting, effective October 1. In this expanded executive role, Mark will lead Ascot's efforts to elevate its underwriting capabilities and position the company for long-term success.

He will work closely with Jonathan Zaffino, group chief executive officer and president, and Ascot's segment CEOs “to develop growth strategies, pursue business development opportunities and strengthen coordination across the company's UK, US and Bermuda businesses”, the company said.

His remit will also include promoting product innovation and recruiting and retaining top underwriting talent in pursuit of Ascot's longer-term goals.

Mr Pepper has nearly four decades of industry experience and joined Ascot at its inception in 2001 to lead the company's treaty reinsurance team. He currently serves as Ascot Group chief underwriting officer, a role he has held since 2009.

Elizabeth Johnson has been appointed president, specialty insurance and reinsurance, effective October 1. In this role, she will oversee a newly created division encompassing all of Ascot's global insurance and reinsurance underwriting operations, including global specialty, Bermuda specialty/Leadline Capital Partners and US specialty.

Ascot stated: “The new structure will align these businesses and create greater connectivity across the organisation. It will also promote more responsive and aligned underwriting and distribution strategies in response to the increasingly dynamic risk landscape in which Ascot operates.”

Ms Johnson will continue to report to Mr Zaffino. She joined Ascot in 2020 as CUO, North America, was appointed chief operating officer, North America, in 2022 and was named group chief operating officer in 2024.

Before joining Ascot, she was a managing director at Nationwide and spent nearly two decades at AIG, where she held senior underwriting and management roles, including global head of excess casualty.

Christopher “Chris” Flatt will join Ascot from AIG to become president, consumer solutions. Ascot said it was forming this new division to focus on consumer lines.

Mr Flatt will lead the development of this business, which will offer insurance solutions across consumer-focused classes, including high-net-worth personal lines insurance.

Mr Flatt will become a member of the Global Executive Committee, reporting to Mr Zaffino. He will join Ascot in early November.

Mr Flatt brings more than 30 years of experience across underwriting, risk management and reinsurance. Most recently, he was global CUO at AIG and a member of the company's executive leadership team.

He previously led AIG North America Alternative Channels, with responsibilities spanning programmes, captive solutions and private client insurance. Before joining AIG in 2017, Chris spent more than 15 years in leadership roles at Marsh McLennan and held senior underwriting positions at GE Capital and ITT Hartford.

“Ascot is building on considerable momentum, with exceptional talent, strong businesses and exciting opportunities ahead,” said Mr Zaffino.