Ascot swoops on Pioneer for new CEO of MGU Ethos Specialty

Specialty re/insurer Ascot has hired Pioneer Underwriters' Nick Greggains to lead its wholly owned managing general underwriter (MGU) Ethos Specialty as new chief executive officer (CEO), with Rory Cline assuming the role of executive underwriting officer across Ascot’s North America businesses.

Greggains was most recently CEO of Pioneer Underwriters' US operations, and prior to that was CEO of XL Catlin Canada and director of underwriting for XL Catlin Americas. He has over 30 years' experience in the re/insurance industry.

In his new role, Greggains will assume management and oversight responsibility for the specialty underwriting services provided by Ethos. Since launch in 2017, Ethos has developed eight-niche programmes across three divisions – property, casualty and transactional liability insurance. Greggains will work with the Ethos team to expand its range of solutions.

Based in Stamford, Connecticut, Greggains will report to Jonathan Zaffino, group president.

Following Greggains' appointment, Cline will assume the role of executive underwriting officer across Ascot’s North America businesses. Cline joined Ascot in 2009 to launch facultative and programmes solutions before joining Ethos at inception in 2017. He will work closely with the North America leadership team, to help further Ascot’s many strategic business and underwriting initiatives. He will also report directly to Zaffino.

Zaffino said: “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.”