22 March 2018Insurance

Ascent appoints former Arch Europe CEO as non-exec chair

Managing general agent (MGA) Ascent Underwriting has appointed James Weatherstone as non-executive chairman.

Weatherstone joins Ascent from Arch where he was responsible for building the UK & international direct underwriting operations as CEO of Arch Insurance Company Europe (AICE) and Arch Underwriting at Lloyd’s (AUAL). Prior to this, Weatherstone was chief underwriting officer of AICE, with responsibility for developing underwriting strategy and diversifying the portfolio. Weatherstone has also previously held positions with XL Group, Brockbank Syndicate Management and Merrett Underwriting Agency Management.

Weatherstone’s experience in scaling international businesses will provide additional capability to Ascent to expand its global distribution base, broaden its product offering and attract high-quality talent as the business grows, according to the company.

David Umbers, CEO of Ascent, said: “James is a highly regarded market practitioner with a successful track record of operating in challenging and highly regulated environments. I’ve no doubt that his extensive, senior-level expertise will be invaluable as we look to grow our existing proposition and expand into other lines where we see synergies and value as an MGA.”

Weatherstone added: “There is enormous opportunity for further development within cyber and other emerging risk and specialty business lines. Ascent, with its innovative distribution platform and exceptional underwriting performance, has quickly established itself as a leading MGA and with the backing of Preservation Capital Partners, it is very well placed for future expansion. I very much look forward to working with the management team.”

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