Ascot Group, a Bermuda headquartered insurance and reinsurance firm, has announced the completion of its acquisition of two U.S insurance entities from Greyhawk Insurance, which have been renamed under the brand of its newly launched unit, Ascot Insurance U.S.
Ascot also revealed that it has appointed Greg Wolyniec as President and Chief Executive Officer (CEO) of Ascot Insurance U.S, based in New York City.
Wolyniec has served as Group Head of Strategy at Ascot since June 2017, before which he was CEO of a technology start-up developing wearables-based risk management solutions for the insurance industry.
He has also held a number of senior leadership roles at AIG and will report to Jerry Tegan, Executive Chairman of Ascot’s US businesses, in his new role, Ascot said.
Ascot announced the acquisition of Greyhawk Insurance Company, a Colarado domiciled admitted carrier, and its wholly owned subsidiary Greyhawk Specialty Insurance Company, a Rhode Island domiciled surplus lines carrier, in May 2018.
The company said at the time that it would look to utilise the two vehicle as new underwriting arms dedicated to expanding its access to the U.S insurance market.
Commenting on the launch and appointment, Andrew Brooks, Group CEO of Ascot, said: “Many of our clients and brokers in the US 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.
He continued: “Greg has been heavily involved in our U.S. strategy since joining Ascot and will be instrumental in helping us grow our presence in the U.S. market.”