News

BMS, one of the leading specialty lines focused insurance brokers globally, today announces an agreement for a significant investment by affiliates of Preservation Capital Partners (“PCP”) and British Columbia Investment Management Corporation (“BCI”). The investment, which values BMS at £500m, is subject to regulatory approvals and is expected to close in the third quarter. The...

Preservation Capital Partners (“Preservation Capital”), the financial services-focused private equity firm which last year acquired an interest in the insurTech-driven cyber and specialty lines MGA Ascent Underwriting (“Ascent”), has made a strategic investment in US construction-focused MGA Cove Programs (“Cove”). Together the business will manage in excess of $200 million GWP, making it one of...

Ascent Underwriting (“Ascent”), the cyber and specialty lines MGA, 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. Further terms of the transaction were...

Preservation Capital Partners (“Preservation Capital”), a financial services focused private equity firm, will take a substantial stake in Ascent Underwriting (“Ascent”), a leading cyber and specialty lines MGA. Preservation Capital will provide significant growth capital to support Ascent’s growth ambitions through the development of new business lines and complementary products via the acquisition of emerging...