Ascot Group has hired Jonathan Legge from wholesale giant RT Specialty as executive vice president for strategic operations at its Ethos Specialty platform as it looks to deliver the most efficient capital to the MGU and its clients, The Insurer can reveal.
Legge has been given the remit to focus on managing and developing strategic capital relationships by working closely with third party capital, reinsurance panels, fronting and single carrier arrangements.
The move comes as Ethos continues to build out its platform under CEO Nick Greggains, the former Catlin and Axa XL executive who joined the MGU last October from Pioneer Underwriters, where he had been CEO of its US operations.
It also continues parent Ascot’s push to add executive strength as it executes a strategy across its carrier and MGU platforms to grow profitably while efficiently matching risk with capital.
Legge will report to Greggains and will additionally work across the MGU business to enhance distribution, service quality and brand presence, Ascot confirmed in a statement.
The company has also hired Anju Arora from Axa XL as senior vice president of portfolio performance. With an actuarial background she will focus on the MGU’s capabilities in data analytics and performance management.
Legge was most recently senior vice president at RT Specialty working across a range of transactional risk and alternative asset insurance classes, after holding a position at Vanbridge.
He spent 12 years at Marsh, latterly as managing director and head of the broker’s global transactional risk insurance practice.
Commenting on the hire, Greggains said the MGU is seeing “demand for quality” where clients want long term resilience, underpinned by “exceptional underwriting, operations and service”.
“Ethos Specialty is able to provide this quality, and we’re delighted to welcome Jon to the business with his unique skill set and diverse understanding of capital structures,” Greggains said.
He added that the MGU is focused on using the most effective forms of capital that offer adequate risk profile and returns for providers while providing stability and security for clients.
“I know Jon has an exceptional understanding of insurance capital dynamics, and I look forward to him joining our talented team as we continue to expand our coverage and capacity for clients, providing them with enhanced solutions over multiple cycles,” said the executive.
Legge described Ethos as an MGU fusing the “technical and diligent underwriting” of its parent Ascot with leading technology, digital operations and service.
“This combination makes for an excellent proposition for capital providers who can count on thoughtful allocation and long-term sustainable returns.
“I look forward to working with Nick and the Ethos Specialty underwriting team as we continue to provide a market-leading proposition for our partners, while delivering resilience and long-term relationship value to clients,” he continued.