Bermuda-based Aspen Reinsurance, the reinsurance segment of Aspen Insurance Holdings Limited has formed Rock Re, a new dedicated brokered property facultative unit within its US operation.
Rock Re “builds on Aspen Re’s existing direct property facultative offering in the United States and will focus on the North American brokered property facultative marketplace,” said the announcement.
The new unit will be led by Russ Wagner, Senior Vice President and Manager of Rock Re, with Jim Connors and Andrew Lombardo joining the team from Montpelier Re as Vice President, Assistant Manager and Assistant Vice President respectively. The team will be located in Rocky Hill, Connecticut, and report to Mike Sowa, Managing Director, North America for Aspen Re.
Brian Boornazian, Chairman of Aspen Re, commented: “Aspen Re has primarily written property facultative business on a direct basis and while this will continue to be a key focus for us, we are establishing Rock Re with a dedicated team to better serve the needs of the broker marketplace.”
Connors was previously Vice President, Underwriter (US Brokered Property Facultative) at Montpelier where he worked for six years and before that, he was at Guy Carpenter (US Facultative Property). Prior to this, he was with CNA Financial Corporation and previously with Travelers Property Casualty.
Andrew Lombardo was formerly at Montpelier as Vice President, Underwriter (US Brokered and Direct Property Facultative) where he also worked for six years. He had previously undertaken roles at Travelers, Watkins Syndicate and Wellington Underwriting.
Source: Aspen Re