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Ascot Group is a specialist global re/insurance insurer owned by Canadian pension provider CPP Investments. It has developed a global capability for parametric risk transfers to complement its property insurance and Reinsurance offerings.
Ascot is among the companies who have formalised its offering of parametric risk transfers in recent months. The market wants to take advantage of the growing interest shown in this developing sector.
The concept of parametric re/insurance is more than thirty years old, but it still represents a tiny fraction of the global re/insurance market. With growth predicted to continue, it is a segment of the market that all players need to be involved in.
Ascot, for example, had been able to quote parametric deals before, but the company has now formalised its parametric capabilities and placed them under the supervision of Mark Pepper, its Group Chief underwriting officer (CUO).
With Pepper as the parametric lead, supported by Ascot’s London property underwriting team, the company believes the enhanced capability will “complement the company’s current global…
