Aspen News

Aspen Appoints Schick from Maybank as Group Chief Operating Officer

Aspen Insurance Holdings Ltd. announced that David Schick has been appointed group chief operating officer. Schick joins Aspen from Maybank where he was executive vice president, Group Strategy and Transformation, and director of Strategic Operational Excellence. At Maybank, he was …

XL Catlin Invests $4M in Insurtech Microinsurance Startup, Stonestep

XL Catlin’s venture fund, XL Innovate, committed $4 million in first-round financing to Stonestep, a property/casualty insurtech startup looking to streamline how microinsurance is sold in emerging markets. The Series A funding is designed to help Stonestep grow in the …

Aspen Appoints Thornton as Group Chief Operating Officer

Aspen Insurance Holdings Ltd. announced that Richard Thornton has been appointed to the newly created position of group chief operating officer. Thornton will undertake this new role in addition to his responsibilities as group head of strategy, said the company, …

Aspen Insurance Appoints Global Product Heads

Aspen Insurance, the insurance segment of Bermuda-based Aspen Insurance Holdings Ltd., announced the appointment of new global product heads as part of its strategy to leverage its global platform and better align product capabilities and distribution. These appointments are: Oliver …

Group of UK Insurers Win BOE Approval for Solvency II Capital Requirements

Prudential Plc, Aviva Plc and Legal & General Group Plc are among large U.K. insurers to win Bank of England approval of the models they use to calculate capital requirements under the European Union law known as Solvency II. The …

A.M. Best Revises Outlook to Positive for Aspen and Its Subsidiaries

A.M. Besthas revised the outlook for the issuer credit ratings (ICR) to positive from stable and affirmed the financial strength rating (FSR) of “A” (Excellent) and the ICRs of “a” of Aspen Insurance UK Ltd., Aspen Bermuda Ltd., Aspen American …

Aspen Insurance Appoints McElroy as Global Head of Environmental

Aspen Insurance, the insurance segment of Aspen Insurance Holdings Ltd., announced that William McElroy will be appointed global head of environmental, effective Nov. 16, 2015. McElroy will lead Aspen Insurance’s global environmental practice, establishing a new global platform around product …

Aspen Launches Singapore Operation via Lloyd’s Platform; 2 Senior Execs Hired

Aspen Insurance Holdings Limited announced the entry of its insurance segment, Aspen Insurance, into Singapore through Aspen’s Lloyd’s syndicate on the Lloyd’s Asia platform, effective Jan. 1, 2016. The launch, which is subject to regulatory approval, is consistent with Aspen’s …

Aspen Insurance Appoints Cohen as President and Chief Underwriting Officer

Bermuda-headquartered Aspen Insurance Holdings Limited announced the appointment of David Cohen as president and chief underwriting officer of its insurance segment, Aspen Insurance. With over 35 years of insurance industry experience, Cohen was most recently at Liberty International Underwriters (LIU) …

Aspen Estimates Tianjin Explosion to Cost $30 Million; Nat Cats Total $20 Million

Bermuda-based Aspen Insurance Holdings Limited estimates its Aspen Re subsidiary lost approximately $50 million from the August 12 explosion in the Port of Tianjin, China, and from natural catastrophes during the third quarter of 2015. Approximately $30 million of these …