Ascot Group Ltd. has launched Ascot Reinsurance Co. Ltd. after securing approval from the Bermuda Monetary Authority.
Ascot Reinsurance has received an additional $1 billion in funding and has been given an A rating by A.M. Best, the company said.
Ascot Group appointed John Berger as CEO of Ascot Reinsurance, effective in January 2018 pending immigration approval. He most recently served as the chairman at Third Point Re.
Ascot Group is Canada Pension Plan Investment Board's global property and casualty insurance platform.
