Ascot's 2011 Capacity Approved by Lloyd's

LONDON, 19 October 2010 - Ascot Underwriting is pleased to announce that Lloyd's has approved its 2011 capacity of £600m. Ascot has de-empted its stamp from £700m in 2010 in response to current market conditions. 

Andrew Brooks, CEO of Ascot said, "In light of the prevailing market conditions Ascot has taken a key strategic decision in reducing its underwriting capacity from £700m to £600m. We view this as essential in managing our business through the next twelve months, and we remain fully committed to providing the best service to meet the needs of our brokers and clients."