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Monday 3 Jul 2017

Fidelis and Ashton create Speciality Joint Venture

HAMILTON, BERMUDA—03 July, 2017—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.”