Reinsurance News
Ascent Underwriting
Ascent Underwriting adds Moir as senior underwriter within W&I
20th May 2020
Cyber and specialty lines MGA Ascent Underwriting has announced the appointment of Richard Moir as senior underwriter, warranty and indemnity (W&I), effective immediately. Reporting to Alex Smith, head of W&I, Moir will support the development of the specialist niche line. He joins from CMS Cameron McKenna Nabarro Olswang LLP, where he served ... Read the full article
Ascent integrates AI tech across transactional liability portfolio
26th February 2020
Specialty MGA Ascent Underwriting has integrated Luminance’s machine learning technology in an effort to expose potential risks across its transactional liability portfolio. Luminance is an artificial intelligence platform leveraging a pattern-detection approach and its proprietary technology LITE, or, Legal Inference Transformation Engine. This integration is hoped to enhance underwriter decision-making processes and ... Read the full article
Ascent appoints cyber underwriters from Beazley & Equinox
8th October 2019
Ascent Underwriting, the cyber and specialty lines MGA and a founding partner of Optio, has announced the appointment of cyber underwriters Kieran Shiret and Henry Rydon. Shiret and Rydon previously held underwriting roles at Beazley and Equinox, respectively. They are expected to bring additional cyber expertise and experience to Optio, particularly in ... Read the full article
Ascent-Cove rebrands to Optio, adds Ian Beaton as Non-Exec Director
23rd September 2019
Cyber and specialty lines managing general agent Ascent Underwriting and US construction-focused MGA Cove Programs are to be rebranded under the single name Optio. The rebrand aligns with a move to larger premises later this month as Optio looks to build a tech-focused business and set new standards in the insurance ... Read the full article
Ascent targets silent cyber with backing of Munich Re
27th February 2019
Specialist managing general agent, Ascent Underwriting has added physical damage cover to its CyberPro product, with additional capacity being provided by reinsurance giant Munich Re. CyberPro forms part of Ascent's professional and non-tangible risks portfolio, and with the backing of Munich Re, now covers physical and property damage plus debris removal ... Read the full article
Preservation Capital follows up Ascent deal with investment in U.S MGA Cove
19th February 2019
Preservation Capital Partners, the private equity firm that purchased cyber and specialty lines managing general agent (MGA) Ascent Underwriting last year, has announced a strategic investment in Cove Programs, a U.S construction-focused MGA. Alongside an undisclosed financial investment, the agreement will see executives from Ascent and Cove come together to drive ... Read the full article
Ascent Underwriting adds Alex Smith as head of transactional risk
13th December 2018
Cyber and specialty lines managing general agent (MGA), Ascent Underwriting, has announced the appointment of Alex Smith as head of transactional risk, effective February 2019. He joins from Capital Risks where he served as Underwriting Director and was previously an underwriter at AIG within the mergers and acquisition (M&A) insurance group. Smith ... Read the full article
Ascent appoints Brit’s Caspar Stops to Head of Cyber
3rd October 2018
Cyber and specialty lines Managing General Agent, Ascent Underwriting, has announced the appointment of Caspar Stops as Head of Cyber. Stops joins from Brit where he served as Global Cyber, Privacy and Technology Underwriter. He previously served at Aegis and Hiscox, also in underwriting roles. Effective at the end of November, Stops ... Read the full article
CFO appointment bolsters Ascent Underwriting’s senior team
5th June 2018
London-headquartered Ascent Underwriting has announced the appointment of Rob Harden as its new Chief Financial Officer (CFO), subject to regulatory approval. Harden has over 20 years experience in the industry - including senior finance and corporate development roles at Liberty Specialty Markets, Beazley, QBE and Close Brothers - and joins from ... Read the full article
Ascent Underwriting names James Weatherstone as non-executive chairman
23rd March 2018
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 ... Read the full article
Preservation Capital completes Ascent Underwriting acquisition
25th January 2018
Preservation Capital Partners has completed its acquisition of cyber and specialty lines managing general agent (MGA), Ascent Underwriting, having received approval from the Financial Conduct Authority (FCA). Under the transaction, the existing Ascent management team will retain a substantial shareholding in the company, and will continue to manage the business through ... Read the full article
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