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Sources said MarshBerry was retained earlier this year to run the sale. -
The moves come as the company said it will "double down" on US E&S.
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The company has settled, or is in the settlement stage, for 80% of the exposure.
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The Bermudian's first quarter cat losses totalled $333.3mn, compared to $103mn a year ago.
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Sources suggested that the multiple could be as low as the 13x range as valuations reset.
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The CEO said Ascot would deploy capital where it sees opportunities.
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The former leader, Kirby Hill, will assume the role of chairman, captives and specialty programs.
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Strong underwriting performance and aggressive repricing of risks in most lines has aided stability.
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The result has been a sharp increase in the use of captives.
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They cover environment, political violence, equipment and cannabis.
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The medical CPI is up 3.1% for the last 12 months.
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“Models aren't going to tell you what the emergent risks today are,” Dolan said.
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