“I additionally look ahead to partnering with the board, administration, and your complete Ascot group to additional execute on the good success of the corporate. The way forward for the enterprise could be very brilliant, and I imagine we’ve the appropriate technique, tradition, and colleagues throughout the globe to ship main options and capabilities to our purchasers.”

Brooks, in the meantime, is “extremely proud” of Ascot’s power and glorious group, having seen the corporate’s progress and success from when he got here onboard in 2001.

“I really feel that now’s the appropriate time for me to take a step again,” mentioned Brooks. “I’m assured that the corporate is in the very best place attainable beneath Jon’s stewardship, which was an necessary consider his becoming a member of Ascot practically three years in the past.

“I do know that along with his management, alongside the continued and unwavering assist of CPP Investments, Ascot is able to capitalize on the alternatives forward. I look ahead to persevering with to contribute to progress of the corporate as a member of the board.”

Government chair Neill Currie had nothing however good phrases for the duo.

“On behalf of the board of administrators, I’d wish to congratulate Jon on this well-deserved appointment and look ahead to working with him and Ascot’s administration to proceed Ascot’s success as one of many world’s pre-eminent specialty insurance coverage and reinsurance organizations,” said Currie.

“We’d additionally like to increase our gratitude to Andrew Brooks. He joined the corporate at its inception and has led the group with distinction. He has been crucial to the agency’s success, overseeing the expansion of Ascot from a Lloyd’s of London enterprise to a worldwide platform with operations within the US and Bermuda.

“He has additionally been a massively influential determine within the London insurance coverage business, at the moment serving as chairman of the Lloyd’s Market Affiliation and member of the boards of the Council of Lloyd’s and London Market Group. We look ahead to persevering with to work with him in an advisory capability as he stays on the board of administrators.”