Former MI6 Head Sir Richard Dearlove named as new Chairman of Ascot Underwriting

2006-11-22

Ascot Underwriting is delighted to announce that Sir Richard Dearlove, the former head of the British Secret Intelligence Service (MI6), is to become its next Chairman.

Sir Richard will be formally appointed at Ascot’s next board meeting on November 28. He will take over from current Chairman Lord Prior who has been in the role since Ascot commenced trading in 2001.

“We are delighted Sir Richard has agreed to join us as chairman and I am very much looking forward to working closely with him,” said Ascot Chief Executive Martin Reith.

“He is a remarkable communicator and brings with him an enviable network of contacts and vast management experience from his time in the intelligence service during which time he rose to the very top.

“I would also like to extend my thanks to Lord Prior who has been with us from the very start. He has been a tremendous source of help and guidance both to the business and to me, personally.”

Sir Richard has links with the insurance industry through his membership of the International Advisory Board of AIG. Ascot is backed by AIG, the US insurance and financial services group.

Sir Richard was born in Cornwall in 1945 and began his MI6 career in 1966, serving in Nairobi, Prague, Paris, Geneva and Washington as well as key London-based posts. He was promoted to Director of Operations in 1994 and became Chief in 1999 until his retirement in 2004. Later that year he took up the Mastership of Pembroke College, Cambridge.

For further information please contact:

Martin Reith, CEO: 020 7743 9602

Jenny Love, Corporate Communications: 020 7743 9599