Ascension Insurance Names Key Executive Appointments in Kansas City

May 8, 2008

Ascension Insurance, Inc., based in Kansas City, Mo., has announced the appointments of three new executives: Calvin J. Stolle to the position of executive vice president, chief financial officer; John D. Doak to the position of senior vice president, Acquisitions; and Sydney Shaw to the position of senior vice president, Controller.

Founded in August 2007, Ascension has garnered an initial $50 million in private equity funds to pursue a consolidation strategy focused on acquiring recognized regional agencies with $7 to $40 million in revenue. The company is expected to grow to $200 million with a nationwide footprint within five years.

In his new position as executive vice president, chief financial officer, Calvin Stolle will direct all of Ascension’s finance, accounting, and strategic acquisition support. Stolle brings 30 years of executive level leadership and experience to Ascension, including extensive financial and risk management accomplishments as well as a successful record of identifying and completing numerous strategic acquisitions. Prior to joining Ascension, he held senior financial management positions at Black & Veatch Corporation, where he was responsible for acquisitions and divestitures, including $125 million in corporate acquisitions in the U.S. and abroad.

As senior vice president, Acquisitions, Doak will be responsible for identifying high-quality insurance agencies and employee benefits firms for acquisition. His experience includes 18 years of executive and operations management experience prior to joining Ascension. Most recently, he held the position of resident managing director at Aon Risk Services, where he was responsible for Oklahoma agency management and business development. Prior to that, he served as an officer at Marsh USA Inc.

In his new position as senior vice president, Controller, Shaw will manage Ascension’s financial and accounting functions. His financial management experience includes high-level finance and accounting management at Hallmark Cards, Sprint, Motorola and Aventis Pharmaceuticals. Most recently, he was the CEO of S&S Financial Services.

Ascension Insurance, Inc. is headquartered in Kansas City, Mo. For more information about Ascension Insurance, Inc. or a profile of Leonard P. Kline, Jr., visit http://www.ascensionins.com

Source: Ascension Insurance, Inc.

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