Ascot Group has established a U.S. division and has promoted an executive from within to lead it.
The Bermuda-based specialty insurer and reinsurer appointed Greg Wolyniec as president and CEO of Ascot Insurance U.S. He and the division will be based in New York City, and Wolyniec will report in to Jerry Tegan, executive chairman of Ascot’s U.S. businesses.
Wolyniec has been with Ascot since June 2017 as group head of Strategy. Before that he held a number of senior leadership roles at AIG before being appointed as CEO of a technology startup developing wearables-based risk management products for the insurance industry.
Andrew Brooks, group CEO, said the new U.S. division satisfies a key demand of clients and brokers in the country.
“Many of our clients and brokers in the U.S. have wanted multiple paper options for accessing the underwriting expertise of Ascot,” Brooks said in prepared remarks. “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.”
In a related matter, Ascot disclosed it has completed the acquisition of Greyhawk Insurance Company, a Colorado-domiciled admitted carrier, and its wholly owned subsidiary Greyhawk Specialty Insurance Company, a Rhode Island-domiciled surplus lines carrier. Both companies will be renamed as part of the new Ascot Insurance U.S. brand.
In November 2017, Ascot launched Ascot Reinsurance Co. Ltd. in Bermuda and appointed John Berger as CEO of Ascot Re. Berger previously ran Third Point Re and has been a senior executive at companies including Chubb Re and Harbour Point. Ascot Group is owned by Canada Pension Plan Investment Board, the largest pension plan in Canada with more than $300 billion in invested assets.
Source: Ascot Group