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Jonathan Zaffino, former head of Everest Re Group Ltd.’s insurance operations, will join Ascot Group Ltd. as group president, the Bermuda-based insurer and reinsurer announced Monday.
Earlier in the day, Everest had announced that Mr. Zaffino, who had run its expanding insurance operations for a little over two years, had resigned.
Ascot, which was founded in 2001, operates Syndicate 1414 at Lloyd’s of London, insurance and reinsurance operations in Bermuda, a middle-market insurer in the United States and a New York-based managing general underwriter. It is owned by Canada Pension Plan Investment Board.
In a statement, Andrew Brooks, group CEO of Ascot said, “I very much look forward to welcoming Jon to Ascot and working with him as we continue the build out of our U.S. and Bermuda businesses.”
Mr. Zaffino will join Ascot “after completing his contractual obligations with Everest,” the statement said.
Ascot Group Ltd. on Monday said it has launched Bermuda reinsurer Ascot Reinsurance Co. Ltd. and named John Berger as its chief executive, effective in January.