Aspen hires Spain to lead Atlanta E&S propertyAspen has hired Nigel Spain to lead its Atlanta excess and surplus lines (E&S) property team with the new arrival making the move from GuideOne, The Insurer has learned.
Aspen Capital Markets adds Bernina Re’s von Reitzenstein as portfolio managerAspen has strengthened its newly formed Capital Markets platform with the hire of Bermuda-based Andy von Reitzenstein as a portfolio manager.
Aspen looks to KPMG for group chief actuarial officer MillerBermudian carrier Aspen has named William (Bill) Miller as its group chief actuarial officer, replacing Andrew Kudera, who has departed the (re)insurer to pursue other opportunities.
Cloutier: new Aspen branding represents “what we do and who we are”Bermudian (re)insurer Aspen has unveiled new branding that the company said emphasises its mission to bring “clarity from complexity” and which executive chairman and group CEO Mark Cloutier said represents “what we do and who we are today”.
Aspen hires Markel’s Shane as outwards re MD and launches Aspen Capital PartnersAspen has hired Markel’s managing director of global ceded reinsurance Laurie Shane and handed Brian Tobben a new role as the Bermudian (re)insurer restructures its outwards reinsurance and Capital Markets units under a new platform called Aspen Capital Partners.
Lloyd’s and Bermuda to benefit from Aspen UK’s new streamlining initiativeBermuda and Lloyd’s will be the beneficiaries of a new Aspen initiative as CEO Mark Cloutier continues to simplify the group’s operating structure as part of his turnaround drive.
AM Best revises Aspen outlook from negative to stable on UW actionsAM Best has revised the outlook on the A financial strength and “a” long-term issuer credit ratings of Aspen’s insurance subsidiaries from negative to stable as it pointed to actions taken to improve underwriting results at the Bermudian carrier under management led by group CEO Mark Cloutier.
Aspen pays Enstar heavy RI premium for $1.1bn ADC coverApollo Global’s Bermudian (re)insurer Aspen paid a large reinsurance premium for the 2020 adverse development cover (ADC) provided by legacy specialist Enstar Group.
Cloutier: Capital markets key to Aspen’s specialty (re)insurance strategyAspen Capital Markets (ACM) is playing an increasingly important role as a vehicle to transform cat and non-cat risk in its Bermudian parent’s continued drive to improve its performance as a specialty insurer and reinsurer, according to group CEO Mark Cloutier.
Aspen underlying CR improves by 7.8 points in 2020Aspen Insurance Holdings reported an underlying – or operating – combined ratio that improved by 7.8 points to 91.8 percent in 2020 as evidence that its turnaround efforts are beginning to bear fruit.
GuideOne recruits Aspen US exec Cadematori as CFOGuideOne has hired former Aspen US Insurance and Endurance executive Ken Cadematori as senior vice president and chief financial officer, the latest move the expansive insurer has made to support the build out of its operations.
Aspen’s group CIO Astwood to retireBermudian Aspen’s group chief investment officer Bryan Astwood is to retire in June.
Argo hires former Aspen CFO Kirk to replace departing BullockArgo has appointed former Aspen executive Scott Kirk as its new CFO to replace Jay Bullock who will leave as part of the management overhaul led by CEO Kevin Rehnberg.
Aspen adds Lightowler to board as non-execAspen Insurance Holdings has added Richard Lightowler to its board as a non-executive director with effect from 10 December.
Aspen Re America names Axis’ Cifuentes as head of professional linesAspen Re, the reinsurance segment of Aspen Insurance Holdings, has named Ana Cifuentes as head of professional lines for Aspen Re America.
Crum & Forster acquires Aspen’s US food and beverage recall renewal rightsFairfax Financial-owned Crum & Forster has built out its product recall business after agreeing a deal to acquire the renewal rights to Aspen’s book of US food and beverage-focused business.
Aspen to restart writing professional liability at Lloyd’s following 2018 retrenchmentAspen is to re-enter the Lloyd’s professional liability market two years after its decision to withdraw, citing the improvement in conditions seen in the line of business.
Aspen fuels up for growth opportunities after $500mn bond issueAspen’s underwriting operations will benefit from a capital injection to target growth opportunities in the hardening market from a portion of proceeds raised in a $500mn public bond issuance in partnership with its backer private equity giant Apollo.
Aspen to receive $237.5mn of Apollo funds’ PIK toggle notes offeringIssuers controlled by Apollo Global Management are to sell $500mn in senior secured payment-in-kind (PIK) toggle notes, with $237.5mn of the proceeds to be contributed to Aspen and its direct parent and $237.5mn to be distributed to equity holders.
Aspen’s long-serving board member Cavoores resignsAspen board member John Cavoores has relinquished his seat on the Bermudian (re)insurer’s board of directors with immediate effect after 14 years.