We are unencumbered by broad-brush strategy edicts that many large insurers tend to have, so we have the freedom to underwrite each risk on its own merits.
About Euclid Life Science Specialty
Euclid Life Science Specialty, LLC is a boutique managing general underwriting team focused on Life Science industry. Our underwriters provide a proactive, competitive approach to innovative coverage solutions for the Life Science industry of today and tomorrow.
Dedicated. Passionate. Innovatively driven.
A Different Angle
Euclid Life Science Specialty is structured so that underwriting is the sole focus. Because we are unencumbered by broad-brush strategy edicts that many large insurers tend to have, we have the freedom to underwrite each risk on its own merits. Our underwriting philosophy is built on taking a different approach, or, a different angle, to risks which present challenges to the market. By utilizing a collaborative underwriting process and leveraging our experience, we can produce alternative solutions, both creative and practical, to our brokers and clients.
Euclid Programs Partner Model
Within the Euclid organization are a number of program managers who underwrite specialty property casualty business. Most of these operations are separate corporations that are jointly owned by Euclid and the insurance professionals that run the business.
Under this unique model, Euclid partners with best-in-class underwriters who invest their money and talent and become equity owners in their own program. Euclid will take them to market to find an insurance carrier and will assist in negotiating a program administrator agreement. Euclid then wraps its well-oiled administrative services – accounting, information technology, human resource, underwriting support services – around the company, allowing the owner underwriter to run the company with focus and efficiency.
Launched in 2019, today Euclid Life Science Specialty, LLC continues to be proudly, jointly owned by Ryann Elliott and Euclid.
HISTORY OF EUCLID
Euclid Insurance Services, Inc. was founded by Peter G. Colis in 1952. The firm began as a retail insurance agency—selling all types of property casualty, and health and life products. Today, Euclid operates as a program administrator for specialty property casualty insurance programs, and as a general agency and third party administrator for employee benefit products. The firm remains family-owned and employs more than 90 people in locations across the U.S. While Euclid’s business model has evolved over the years, its core values remain unchanged. The company strives to deliver large company capabilities in a privately-owned, responsive environment for the benefit of its brokers, employees and policyholders.
A strong cornerstone
Born in 1926, Peter Colis was the son of Greek immigrants who settled in Chicago in search of a better life. Peter came of age during the Great Depression, worked 30 hours a week while attending high school and immediately enlisted in the U.S. Navy upon graduation in 1944.
When the war ended in 1945, Peter followed the course of the Greatest Generation and entered college courtesy of the GI Bill. He graduated Northwestern University in 1949—the first college graduate in his family.
Euclid Insurance Services, Inc. is founded
1952 was a remarkable year in Peter’s life. In April, he married Nancy Rantis, who would be his wife for 60 years. A few months later, he founded Euclid Insurance Agencies.
Euclid began as a retail insurance agency selling all types of insurance products. Over the years, Peter grew the firm to be one of the larger retail insurance brokers in the Chicago market.
The next generation comes on board
After receiving a BA from Northwestern University and a MBA from Northwestern’s Kellogg Graduate School of Management—and building a ten year career in the corporate insurance world—Peter’s son, John, joined Euclid. John’s experience included time at General Reinsurance Corporation and Aon Risk Services learning the reinsurance and program insurance business.
Over the next 20 years, Euclid built both its program administrator and its employee benefit general agency business. As part of this evolution, the original retail insurance agency was sold in 2012.
We continue to grow together
Euclid remains owned by the Colis family today. Management for many of the Euclid operating companies have an equity interest in the operations they lead.