James Weatherstone, who served as chief executive of Arch Insurance London (AICE) and Arch Underwriting at Lloyd’s (AUAL), has been appointed as non-executive chair at Ascent Underwriting.
Making the switch from Arch, where he was in charge of building the UK & international direct underwriting operations, Weatherstone brings with him extensive experience in scaling international businesses. He will help the newly acquired cyber and specialty lines managing general agent (MGA) expand its global distribution base, broaden its product offering, and attract high-quality talent.
“There is enormous opportunity for further development within cyber and other emerging risk and specialty business lines,” said Weatherstone, who also worked at XL Group, Brockbank Syndicate Management, and Merrett Underwriting Agency Management. “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 chief executive David Umbers described Weatherstone as 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,” said Umbers. “I am delighted to welcome him to the team.”