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Ascot expands to Singapore


SINGAPORE—London-based Ascot Underwriting Ltd. is opening an operation in Singapore.

The new unit will initially write property, cargo, hull, energy and terrorism business, Ascot said in a statement.

Ascot said it hoped the office would be open by early December and be able to accept business from the start of 2007, subject to approval from Lloyd's of London and the Monetary Authority of Singapore.

Scott Stewart will be the operation's principal officer, subject to Lloyd's and MAS approval, Ascot said.

Mr. Stewart, previously, was managing director of energy and industry risks in Singapore for London-based broker Jardine Lloyd Thompson Group P.L.C.