People Moves: Ascot Underwriting Names Thompson as CEO, Keith Named Head of Ascot Bermuda; Geneva Assn. Appoints AIA’s Top Executive as Chair

This edition of International People Moves details appointments at Ascot Underwriting Ltd. and Ascot Bermuda, along with The Geneva Association.

A summary of these new hires follows here.

Ascot Group Ltd., the Bermuda-based global specialty insurance company, announced the appointments of Ian Thompson to chief executive officer and director of Ascot Underwriting Ltd. (AUL) and Justin Keith to president and chief executive officer of Ascot Bermuda Ltd.

Thompson has been appointed to the position of CEO director of AUL (subject to regulatory approval). Thompson will replace Jonathan Zaffino as CEO and director of AUL. He will relocate to London from Bermuda, where he has lived and worked for the past 15 years. In his new role, Thompson will continue to report to Zaffino in his role as Ascot Group president and CEO and will remain a member of the Global Executive Committee.

Thompson joined Ascot Bermuda in 2017, first as chief underwriting officer of Casualty and Specialty, and then as president and CEO of Ascot Bermuda since December 2020, where he has overseen all Ascot business on the island, including specialty insurance, reinsurance, and alternative capital. He has almost 30 years of experience as an underwriter, broker, and executive in both London and Bermuda.

Mark Pepper will continue to report to Zaffino in his role as Ascot Group CUO and member of the Group Executive Committee. Thompson’s arrival in London will enable Pepper to amplify his role and impact on the underwriting and reinsurance strategies across the group, the company said.

Keith will be promoted to president and CEO Bermudian operations, succeeding Thompson. Justin’s appointment will be subject to board and immigration approval.

Keith joined Ascot in 2017, and has successfully served in roles of increasing responsibility, most recently in his role as chief underwriting officer for Casualty & Specialty. A native of Chicago, Illinois, Keith has lived and worked in Bermuda since 2012 when he moved to the Island to assume leadership of the specialty reinsurance division of a major competitor.

Keith began his insurance career 20 years ago and has held insurance and reinsurance leadership positions in the US, London, and Bermuda. Keith will also report to Zaffino in his new role overseeing all aspects of Ascot’s Bermuda operations.

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Group Chief Executive and President of AIA Named Chair of Geneva Association

The Geneva Association announced that Lee Yuan Siong, group chief executive and president of the Hong Kong-based life insurer AIA, was appointed chairman of the organization at its spring 2024 board meeting on June 5.

Lee, who has been vice chairman of The Geneva Association since November 2021, succeeds outgoing Chairman Christian Mumenthaler, CEO of Swiss Re.

Three members of the Association were also elected to the board of directors at the 2024 General Assembly on June 6: Satoru Komiya, CEO, Tokio Marine; Pauline Leclerc-Glorieux, CEO, BNP Paribas Cardif; and Bianca Tetteroo, CEO and chair of the Executive Board, Achmea.

“It has been a great privilege to work with Christian Mumenthaler. He took over as chairman at a difficult time, with the pandemic still in full swing, and he navigated The Geneva Association through a geopolitical and geo-economic sea change with wars, higher inflation and supply-chain bottlenecks. His focus on impact has led us to significantly increase our reach and global profile,” according to Jad Ariss, managing director of The Geneva Association.

Ariss noted that Lee is the first Geneva Association chairman to be based in Asia in the organization’s 50-year history.

“I also warmly welcome new board members Satoru Komiya, Pauline Leclerc-Glorieux and Bianca Tetteroo,” Ariss said. “With the rest of the board, we will ensure The Geneva Association continues to address the most relevant issues for the industry and demonstrate the role insurance plays in making the world a safer and better place.”

As the only global association of insurance companies, The Geneva Association’s members are insurance and reinsurance CEOs. The Geneva Association investigates key risk areas that are likely to affect the insurance industry, develops recommendations and provides a platform for stakeholders to discuss them.

Topics Underwriting