Pelican unveils new MGA Tango Specialty led by former Ascot US CEO

Pelican Ventures, a private investment firm established by insurance executives including  Jim Stanard, has launched a new business called  Tango Specialty, a commercial lines managing general agency (MGA) that will serve the complex needs of select clients and brokers.

Greg Wolyniec has been named as president and chief executive officer (CEO) of Tango Specialty. Wolyniec was most recently president and CEO of Ascot US, where he led the launch and build of a broad scale US insurance business.

Before joining Ascot Wolyniec spent several years at AIG in senior roles, leading the commercial insurance business strategy, innovation, and mergers and acquisitions functions.

Bob Deutsch also joins the Tango Specialty board as chairman, while Stanard, Allan Cohen and Win Hotchkiss from Pelican also take seats on the board.

Pelican invests intellectual and financial capital in disruptive insurance concepts led by visionary entrepreneurs and has made several major investments in insurance businesses, including the purchase of Ariel Re in November 2020.

Tango has already acquired V3 Insurance Partners, an existing MGA focused on specialty workers’ compensation and commercial property products, ahead of the launch. V3 will continue to operate its underwriting divisions, and will serve as a turn-key shared-services operating platform, supporting the new underwriting units under the broader Tango brand.

Wolyniec said: “We will build our business and reputation based on leading technical underwriting acumen, synchronised partnerships with clients, brokers, and capacity partners, and an entrepreneurial, decisive organisational culture.”

Did you get value from this story?  Sign up to our free daily newsletters and get stories like this sent straight to your inbox.