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Ascent taps Brit for cyber head

October 02, 2018

Specialist managing general agent (MGA) Ascent Underwriting has appointed Caspar Stops as head of cyber.

Stops moves over from Brit where he served as an underwriter in the global cyber, privacy and technology team. During his (re)insurance career, he has also held cyber underwriting positions at Aegis and Hiscox.

He will begin his new role at the end of November and will report to Ascent’s chief underwriting officer Gareth Tungatt.

The firm said that Stops will be responsible for spearheading the development of further innovative products, including focusing on Ascent’s increased appetite for large risks, while contributing to the continued profitable growth of the existing portfolio.

Commenting on the appointment, Tungatt said: “It is great to welcome Caspar at such an exciting and important time for Ascent. Caspar is well-respected and an exceptionally talented underwriter, highly regarded by brokers.”

“He will be a significant addition to the team as we look to capitalise on our market-leading proposition and further extend our product base.”

Stops’ hire follows a number of senior appointments at Ascent since the beginning of the year, including James Weatherstone as non-executive chairman in March and Rob Harden as CFO in June.

This comes after the MGA received significant investment from private equity firm Preservation Capital in January to support its growth ambitions. As such, Ascent teased that further appointments and product announcements are expected this year.