Justin Keith has succeeded Ian Thompson as the president and chief executive of Ascot Bermuda Ltd, overseeing all aspects of Ascot's Bermuda operations, subject to board and immigration approval.

Mr Thompson heads to London to take up the post of chief executive and director of Ascot Underwriting Ltd and will remain a member of the global executive committee.

The Bermudian-based global specialty insurance company said these promotions represented a major step forward in Ascot's evolution, organisational maturity, and highlights the bench of industry leaders within the organisation.

Mr Keith joined Ascot in 2017, and has served in roles of increasing responsibility, most recently as chief underwriting officer for casualty & specialty. He has lived and worked in Bermuda since 2012 when he joined Hiscox.

Jonathan Zaffino, the Ascot group chief executive and president, said: "Throughout Ascot's history, Ascot Underwriting Limited has earned a reputation for underwriting excellence and market leadership.

“Our vision for the Ascot Group's future, including our multiyear strategic plans, will require increased investment in, and continued profitable growth from, our leading and flagship syndicate.

"Ascot's ambitious agenda requires dedicated leaders at the helm of our operations who remain solely focused and dedicated in leading our talented teams of market leading professionals to work with our clients in addressing today's risk challenges.

“I am beyond confident that Ian and Justin are the leaders to help lead Ascot through the next phase of our organisation's journey."