Ascot Launches Specialty MGA, Vertical Underwriting Managers

Ascot Group Ltd. (AGL) announced the creation of Vertical Underwriting Managers, its first specialty managing general agency (MGA) cell under Ethos Specialty Insurance Services, AGL’s standalone MGA

Vertical will underwrite both standard and specialty P/C business as well as target under-served market segments, London-based AGL said in a statement.

Core lines of business will include: property, casualty, specialty lines, professional liability and insurtech.

Joe Calise has been appointed chief executive officer of Vertical. Calise previously served as managing director at Guy Carpenter, leading the nationwide programs practice.

“I am excited to be joining Vertical to build out one of the preeminent underwriting platforms in the industry. It’s through Vertical’s holistic approach to managing risk where we will differentiate ourselves from most underwriting platforms and provide a stable environment for our capital providers,” said Calise.

In addition to Calise, AGL announced appointments to the Vertical team: Adam Schell as chief casualty officer and John Casella as senior vice president.

Schnell was previously EVP and head of casualty at WKFC Underwriting Managers. Prior to WKFC, he held senior roles at Aspen Insurance and ACE Westchester with a primary concentration in specialty casualty.

Casella was the chief inderwriting officer of Chubb Custom Insurance Co. from 2001-2015, responsible for the underwriting strategy of the company’s Program Division. Prior to joining Vertical, Casella spent his entire 35-year career with Chubb holding various management and leadership roles.

“Adam and John will be instrumental in the build-out of Vertical’s underwriting platform, which will drive profitability for our carrier partners,” said Vertical’s CEO Calise.

Ethos Specialty operates as a separate entity to the other AGL businesses: Ascot Underwriting Ltd. (Syndicate 1414 at Lloyd’s) and Ascot Underwriting (Bermuda) Ltd.

Source: Ascot Group Ltd.

Topics Excess Surplus Underwriting New Markets Insurance Wholesale