Bermuda-based Aspen Insurance, the insurance segment of Aspen Insurance Holdings Limited, and Starr Companies announced that they have “signed a memorandum of understanding under which both parties will enter into a joint underwriting initiative to write international property insurance, with a strong focus on European-headquartered industrial companies.
The initiative will be branded Aspen Starr Property and write business under the licenses of Aspen Insurance.”
The announcement also said: “Béat Bertschi has been hired to lead the venture and will report to Heinz Eggenberger, General Manager for Aspen Insurance in Switzerland.” He has 29 years of international corporate property insurance and reinsurance experience gained through senior roles he has held with Zurich Insurance, Swiss Re and most recently, Infrassure.
Aspen Insurance CEO Mario Vitale described the tie-up as “an exciting new venture through which Aspen and Starr Companies will be able to use their extensive underwriting and engineering expertise to serve the insurance needs of European industrial companies with international operations.”
He explained that the initiative would “draw on the considerable experience and technical expertise of two strong partners who have a good understanding of complex global risks.”
Starr Companies CEO Maurice R. Greenberg added: “Starr and Aspen together have substantial experience working with European insurance buyers and the market environment. This joint initiative will serve the partners well.”
Source: Aspen Insurance and Starr Companies
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