Ascot Group has announced the addition of Nick Greggains, formerly of Pioneer Underwriters, as the new Chief Executive Officer (CEO) of its wholly owned Managing General Underwriter (MGU), Ethos Specialty.
Following its launch in 2017, Ethos has developed eight niche programs across Property, Casualty, and Transaction Liability Insurance. In his new role, Greggains will work with the team of professionals to continue this growth, built around the expansion of products that combine superior underwriting with top-tier capacity.
Greggains brings more than three decades of industry experience to the role, and joins from Pioneer where he served as CEO of its U.S. operations. Previously, he served as CEO of XL Catlin Canada and Director of Underwriting XL Catlin Americas.
In his new role, Greggains will be based in Stamford, CT, reporting to Jonathan Zaffino, Group President.
In light of Greggains’ appointment, Rory Cline will take on the role of Executive Underwriting Officer across Ascot’s North America business. Cline joined the firm in 2009 to launch Facultative and Programs solutions before joining Ethos at its inception. He will work closely with the North America leadership team, and will also report directly to Zaffino.
Zaffino commented: “At Ascot, we have a culture of world class underwriting, paired with first class claims, operational and technological solutions. We are therefore a highly attractive risk partner for syndicates and carriers offering who are seeking to partner with leading specialty firms such as Ethos. I’m delighted to welcome Nick to our business, his broad based underwriting experience, coupled with his intimate knowledge across the MGA/MGU market means that he’s an excellent individual to lead Ethos.
“I am confident that under his leadership our pursuit to provide leading solutions to our broker partners, while profitably deploying capacity on behalf of our insurance partners will gain momentum. I also want to thank Rory for his successful tenure running the Ethos business, and I’m particularly excited that we can now utilize his skills across the whole of Ascot’s North America operations.”
Greggains added: “Ascot Group’s vision focuses on a core set of attributes, which I believe are vital for a successful MGU. These include being a nimble business that is able to offer specialty products, combined with leading underwriting and distribution strategies, all of which are underpinned by modern technology and digital solutions. This platform is ideally positioned to provide successful and innovative programs to our industry partners. I look forward to working closely with Jon, Rory and the underwriting team at Ethos to deliver continued success.”
