Ascot has announced plans to establish a standalone managing general agent (MGA), hiring former AIG executive Greg Wolyniec to assist with the formation of the platform.

Wolyniec joins Ascot as head of global strategy effective 31 July, having most recently served as senior managing director at AIG where he was responsible for overseeing strategic and innovation efforts for the carrier’s global commercial business.

In his new role Wolyniec will lead strategic and investment initiatives and assist with the formation of a standalone MGA platform.

Ascot said that the MGA platform will trade as a separate entity to the Ascot Underwriting (Syndicate 1414 at Lloyd's) and Ascot Underwriting Bermuda divisions.

Commenting on the announcement, Ascot CEO Andrew Brooks said: “We are delighted to have Greg join Ascot in this critical role.

As head of global strategy he will be invaluable as Ascot expands organically and through acquisitions.”

The MGA plans come seven months after the Canada Pension Plan Investment Board (CPPIB) completed its $1.1bn takeover of Ascot.