The alliance aims to combine the unique strengths and capabilities of both companies to offer superior services tailored to niche markets.

The newly formed partnership will see Ascot initially supporting Paragon’s public entity casualty insurance program, Trident Public Risk Solutions. This collaboration combines Paragon’s expertise in specialized underwriting with Ascot’s diverse global portfolio.

Matt Kramer, chief executive of Ascot US, stated: “Ascot forms strategic partnerships with discerning MGA/MGUs such as Paragon because we understand the value of their specific underwriting technology and capabilities to fill unique coverage needs in the market.

“We look forward to beginning our partnership on Trident’s casualty program as we work together to deliver client solutions.”

Ron Ganiats, CEO of Paragon, expressed enthusiasm about the tie-up, saying: “We are excited to partner with Ascot on the Trident business.

“With Ascot’s breadth of capabilities and strategic approach to trading relationships, we see Trident as our first of what will ultimately become a large and diversified trading partnership.”

Paragon writes all commercial lines of insurance across more than 25 programs, while Ascot operates through an ecosystem of interconnected global platforms.