Ascot lays financial foundations for further growth

A statement from the company said the funds would address the foreign exchange movements over the past several months and give Ascot the ability to expand in 2009.

Andrew Brooks, CEO of Ascot Underwriting said: "We are delighted with the unwavering commitment that we received from our capital provider when we asked for additional funds not only to support but also expand our 2009 business plan.

"The underwriting environment is changing on a daily basis, providing Ascot with opportunities,