Ascot has appointed Mark Benz as executive vice president and the newly created role of head of alternative risk solutions.
The unit will consist of new alternative risk capabilities as they are developed, as well as the company’s existing captives and trade credit business divisions.
Benz will be based in New York, reporting to Matt Kramer, CEO of Ascot US. In his new role, he will build and lead a portfolio focused on captive solutions and fronting opportunities.
He joins Ascot from AXA, where he helped build out its group captive practice while leading its North American alternative risk structures, overseeing all group captive underwriting and compliance across various product lines in the region.
Prior to that, Benz spent 16 years at AIG, most recently working as head of captive solutions.
Commenting on the new hire, Kramer states: “Mark brings with him more than two decades of industry expertise and has the tools and knowledge needed to lead the growth and development of nimble, creative solutions for our clients whose risks are not a fit for the traditional commercial insurance market.”
Benz comments: “Non-traditional risk management solutions will continue to grow in popularity as companies look for flexible ways to address their risk challenges.
“I look forward to developing solutions at Ascot that both position the company to capitalise on this significant market opportunity and support the evolving needs of our clients.”
