Tobben to Head Aspen Re’s Newly Formed Capital Markets Division

Bermuda-based Aspen Reinsurance, the reinsurance unit of Aspen Insurance Holdings Limited, announced the formation of a new division, Aspen Capital Markets, with Brian Tobben appointed as its managing director.

Aspen Re said it is establishing the new division to expand its participation in the alternative reinsurance market. Tobben joined Aspen on April 8, 2013, having previously been with PartnerRe. He will be based in New York and report to James Few, Aspen Re’s CEO.

Few said: “Our decision to establish a capital markets division recognizes developments in the reinsurance market over recent years as the influence of the capital markets on the catastrophe segment has steadily increased.

“The focus of the new unit will be to develop alternative reinsurance structures to leverage our existing underwriting franchise, increase our operational flexibility in the capital markets and provide investors direct access to our underwriting expertise. This initiative builds on our successful partnership with Cartesian Capital Group at Iris Re, an investment manager focused on investments in natural catastrophe risk.”

He also noted that Tobben “has a wealth of experience and I look forward to working with him as we develop our proposition in the evolving convergence market.”

Tobben described Aspen Re as a “highly respected reinsurer with a clear vision to diversify further into the capital markets,” adding that he’s excited to be joining the company.

Tobben was at PartnerRe for almost 10 years, most recently as Head of Insurance Linked Securities where he managed a portfolio of catastrophe ILS, life ILS, weather and commodity investments and before that, as Vice President, Weather.

Source: Aspen Reinsurance

Topics Reinsurance