Ascent Underwriting has appointed former Arch Insurance Europe CEO James Weatherstone as non-executive chairman.
At Arch, he was responsible for building the UK and international direct underwriting operations, stepping down as CEO of Arch Insurance Europe and Arch Underwriting at Lloyd's in December 2016. Prior to Arch, Weatherstone held senior leadership positions at the likes of XL Group, Brockbank Syndicate Management and Merrett Underwriting Agency Management.
Ascent said that Weatherstone's previous experience in scaling international businesses will provide it with additional capability to expand its global distribution base, broaden its product offering and attract high-quality talent as the business grows.
Commenting on the appointment, Ascent CEO David Umbers 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 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."