Ascent Underwriting announce that Preservation Capital Partners received FCA approval to complete acquisition
Ascent Underwriting has today announced the completion of its acquisition by Preservation Capital Partners, having obtained FCA approval.
The existing Ascent management team will retain a significant shareholding in the company, and continue to manage the business during its next stages of growth.
Preservation Capital Partners will provide significant additional capital to support Ascent’s ambitions to grow through the development of new business lines and complementary products.
Ascent chief executive, David Umbers said: “Since launching, Ascent has built a market-leading distribution platform to deliver cyber and specialty line products to customers globally.
“Our independence is important, and we are pleased it will be maintained through this deal with Preservation Capital, who are providing investment to support our strategic expansion plans.”