Preservation Capital Partners invests in Ascent Underwriting

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Preservation Capital Partners has bought a “substantial stake” in managing general agent (MGA) Ascent Underwriting.

Insurance Age understands the deal makes the private equity firm the majority shareholder.

Ascent confirmed that the existing management team will also keep a “significant shareholding” and continue to manage the business.

The cyber and specialty lines MGA detailed that the new backers will provide capital to support its growth plans. It listed that this will focus on the

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