Bermuda-based specialty insurer Ascot Group has named Mark Wilcox as its new group chief financial officer (CFO).

Wilcox, whose appointment is effective 8 November 2023, will report to group CEO and president Jonathan Zaffino. 

To be based out of Ascot’s Stamford office, Wilcox will spearhead the international finance organisation and capital approaches of the company.

He will be responsible for complete financial planning and assessment as well as tax and treasury activities.

Zaffino said: “Mark’s unique and diverse experiences, along with his undisputed track record of success, will help accelerate Ascot’s strategic pursuits and ambitions. 

“As we continue to expand our organisation globally, across both the specialty insurance and reinsurance segments, Mark’s proven financial acumen will be a significant addition to our leadership team, our colleagues and our valued clients.”

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With more than 20 years of experience in the insurance sector, Wilcox most recently served as the CFO of Selective Insurance.

During his stint at Selective, Wilcox was responsible for leading the company’s international finance operations and capital management approaches.

Wilcox also oversaw treasury, accounting, investor relations, investments, internal audit, reinsurance, enterprise risk management, procurement, contracts and tax functions at Selective.

Furthermore, he managed the revamping of the financial reporting process of the company. 

Wilcox said: “I look forward to being a part of Ascot’s exceptional leadership team and working to advance the company’s strategic agenda. 

“In a short time, I have been able to see how dynamic and entrepreneurial Ascot’s culture is, and I look forward to working to elevate its mission of creating the best specialty insurance products and reinsurance solutions for clients across the globe.”

Ascot unveiled a new space practice at Lloyd’s of London in December 2021.