LONDON, UK, 22 August 2017: Ascot Group Limited (AGL) today announced the creation of Ethos Specialty Insurance Services, LLC, a standalone managing general agent (MGA) under AGL. Michael Sillat has been appointed as Chief Executive Officer of Ethos, effective 1 December 2017. The formation of Ethos represents an important step in AGL’s long term strategy to invest and build a global property and casualty insurance and reinsurance platform.
Prior to Ethos, Michael Sillat spent 15 years at WKFC Underwriting Managers, where he initially started as Chief Financial Officer, took on the role of Chief Operations Officer in 2008, and became President and Chief Executive Officer in 2011.
“I am very much looking forward to joining the team and building what will be the preeminent MGA in the specialty arena,” said Sillat.
Justin Meizlik has joined Ethos as Chief Operating Officer. Prior to joining, Justin served as Head of Audit and Programme Implementation at WKFC Underwriting Managers.
Andrew Brooks, Chief Executive Officer of Ascot 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. We look forward to having them both on the Ethos team.”
Ethos will operate as a separate entity to the other AGL businesses: Ascot Underwriting Ltd. (Syndicate 1414 at Lloyd’s) and Ascot Underwriting Bermuda Limited.