Ascent Underwriting has announced the appointment of James Weatherstone as non-executive chairman, subject to regulatory approval.
Weatherstone joins Ascent from Arch where he was responsible for building the UK & international direct underwriting operations as Chief Executive Officer (CEO) of Arch Insurance London (AICE) and Arch Underwriting at Lloyd’s (AUAL).
Prior to this, Weatherstone was chief underwriting officer of AICE, where he developed underwriting strategy and portfolio diversification.
David Umbers, CEO at 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. I am delighted to welcome him to the team.”
Weatherstone has also previously held positions with XL Group, Brockbank Syndicate Management and Merrett Underwriting Agency Management.
Weatherstone said: “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.”
Ascent said Weatherstone’s experience in scaling international businesses will provide additional capability to expand its global distribution base, broaden its product offering and attract high-quality talent as the business grows.
