Lloyd’s insurer Ascot unveils new MGA Ethos Specialty
Lloyd’s insurer Ascot has launched a new MGA called Ethos Specialty Insurance Services and hired former Ryan Specialty executive Michael Sillat to run it.
Ascot had announced plans for a new MGA when it hired former AIG executive Greg Wolyniec as head of global strategy in July.
Sillat will join Ethos on 1 December as chief executive. He was previously chief executive of Ryan Specialty-owned MGA WKFC Underwriting Managers.
Sillat said: “I am very much looking forward to joining the team and building what will be the preeminent MGA in the specialty arena.”
Ascot has also hired former WKFC head of audit and programme implementation Justin Meizlik as Ethos’s chief operating officer.
Ethos will be part of the Ascot Group but will operate separately to other Ascot Group companies, which include Lloyd’s Syndicate 1414 and Ascot Underwriting Bermuda.
Ascot chief executive Andrew Brooks said: “Leadership, operations, and controls are key to building any successful business, especially where the strategy is a combination of organic growth and M&A, such as is the case for Ethos.
“Michael and Justin’s multi-year experience in building and executing operating platforms for myriad MGAs and programmes will be invaluable as we begin to execute our strategy.”