...Moderate Business Profile: Fitch considers Ascot to have a 'moderate' business profile. The company had net premiums written (NPW) of USD3.75 billion for 2025 and shareholders' equity of USD3.2 billion at June 30, 2026. Ascot has a broad global specialty product portfolio of property and casualty primary insurance and reinsurance business. Its 2025 gross premiums written split was 60% insurance and 40% reinsurance. Fitch views this diversified source of revenues and earnings favorably. Ascot's adjusted Insurer Financial Strength (IFS) rating of 'a' is one notch below its implied IFS rating of 'a+' because its company profile score -- an 'a' IFS credit factor score -- has a stronger impact on Fitch's overall view of Ascot's credit profile than the standard 30% weighting would suggest. Solid Capitalization, Very Strong Coverage: Fitch views Ascot's capitalization and leverage as strong. Ascot scored 'Extremely Strong' in Fitch's Prism Global Model in 2025, compared with 'Very Strong' in 2024...
