Ascot Underwriting forms consortium to underwrite power, utility risks

LONDON—Ascot Underwriting Ltd. has formed a consortium to underwrite risks for the power and utility industries.

The consortium comprises Ascot—which operates syndicate 1414 at Lloyd’s of London—Brit Insurance Holdings B.V., QBE Insurance Group Ltd., and modeling company Sciemus Ltd.

The consortium, known as the Strategic Power Consortium, will write insurance and facultative reinsurance with limits of up to $100 million and will begin underwriting for risks attaching from Jan. 1, 2012, it said Wednesday.