Bermuda-based specialty insurance and reinsurance company Ascot Group has established a US division known as Ascot Insurance US.

The company named Greg Wolyniec as the president and CEO of the US unit. Based in New York City, Wolyniec will report to Ascot US businesses executive chairman Jerry Tegan.

Wolyniec has been serving Ascot since June 2017 in the role of group head of strategy.

He previously served as the CEO of a technology firm developing wearables-based products for the insurance industry and also held management positions at AIG.

Additionally, Ascot concluded the takeover of US-based insurer Greyhawk Insurance Company and its subsidiary Greyhawk Specialty Insurance Company.

The acquired entities will now operate under the new Ascot Insurance US brand.

Ascot group CEO Andrew Brooks 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.

“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.”