Ascot Opens U.S. Unit, Names Wolyniec CEO, Completes Greyhawk Acquisition
Bermuda specialty insurer Ascot Group has launched Ascot Insurance U.S. and appointed Greg Wolyniec as its president and chief executive officer.
Ascot also announced the completion of the acquisition of Greyhawk Insurance Co., an inactive Colorado domiciled admitted carrier, and its wholly owned subsidiary Greyhawk Specialty Insurance Co., a Rhode Island domiciled surplus lines carrier. Both companies will be renamed as part of the new Ascot Insurance U.S. brand.
Wolyniec has been with Ascot since June 2017 as group head of Strategy. Prior to this he held a number of senior leadership roles at American International Group including before being appointed in 2016 as CEO of a technology start-up developing wearables called Human Condition Safety.
He will be based in New York City and report in to Jerry Tegan, executive chairman of Ascot’s U.S. businesses.
“Many of our clients and brokers in the U.S. have wanted multiple paper options for accessing the underwriting expertise of Ascot. This new part of the Group allows us to be closer to our end clients and will help the wider Group with access to admitted products,’ said Andrew Brooks, Group CEO.
Ascot Group comprises four divisions: Ascot Underwriting, a managing agent for Syndicate 1414 at Lloyd’s ;Ascot Reinsurance Co., a Bermuda based specialty reinsurer; Ethos Specialty Insurance Services, a New York based managing general underwriter; and now, Ascot Insurance U.S., an admitted and surplus lines insurance business.
Ascot Group is owned by Canada Pension Plan Investment Board, the largest pension plan in Canada.