Ascent moves into political risk with Hedley hire
Specialty MGA Ascent Underwriting has expanded into political risk with the recruitment of Nick Hedley, the former head of credit and political risk at Allied World Europe, The Insurance Insider understands.
At Ascent, he will write political risk, structured trade credit and contract frustration business, starting on 1 January 2019.
Hedley began his career in the trade credit market in the early 1980s as an underwriter at Trade Indemnity. He joined AIG in 1985, working at different points in both trade credit excess of loss and political risk and structured trade credit.
He was a broker at JLT from 1995 to 2009, according to details on his LinkedIn profile. In 2010, Hedley set up Latin American Underwriters, an MGA that devoted half its political risk and credit book to Latin America.