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.
Formation of Euclid Exec
Euclid Exec was formed in 2010 to do what the other management liability markets could not. It provides underwriting knowledge and creativity via personal yet expedient service. This unique and not-easily matched service model is cementing Euclid Exec’s position in the management liability marketplace. Current programs include a full suite of management liability coverages and monoline employment practices liability insurance.
The company is led by Jim Seymour and Paul Bunone as well as claims and support personnel with it’s carrier and reinsurer partners.
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. The Euclid family of program administrators now includes: