[bkopto]

If I read the greek letters clockwise beginning with the letter "pi", you get:

PI IOTA LAMBDA ALPHA TAU OMEGA

which, in english, is (I think):

Pilato

This is how I think about it but I don' t know greek nor am I a scholar.

[Mr Ramsbotham]

I believe you’re right. I know just a little bit of Greek, and my first thought was that it should read PILATOU. I’ll take the scholars’ word on their translation.

[Pelham]

Yep, that's it. PILATO. Or in Greek capital letters, ΠΙΛΑΤΟ

Took me awhile to figure out that you read it clockwise, starting from the Pi at around 3 o'clock.

Of course as a signet ring, the wax imprint would be counter-clockwise.