Bermuda-based Aspen Insurance Holdings Ltd. announced on Tuesday a series of key management changes, including several seniors, and said its UK-based management agency Aspen Risk Management Ltd. will be placed in runoff.
The changes come just months after Mark Cloutier was appointed President of Aspen's Board of Directors and CEO, after Apollo Global Management LLC acquired $ 2.6 billion.
Aspen works with the management of Aspen Risk Management "to ensure all policyholders' obligations and service The requirements are fully supported and consistent with Aspen's policyholder and broker standards," the company said in a statement.
The decision has no impact on Aspen's general British
As Part of the shakeup, Kate Vacher, most recently CEO of the insurance and managing director of Aspen Bermuda Ltd., is le David Schick, former CEO and Donald Harrell, formerly international insurance consultant and global
A spokesman for Aspen refused to comment on where Schick or Mr. Harrell goes.
With immediate effect, Aspen has made the following meetings:
- Mike Cain, former group director, has appointed Chief Executive Officer and will be Chief Executive Officer of Aspen UK during a transitional period, subject to governmental approval
- In addition to his current role as Chief Risk Officer, Tim Aman will assume primary responsibility for outward reinsurance / retrospective analysis, structuring and placement
- Bryan Astwood, Chief Executive Officer of the Investment Manager, has been appointed Executive Management Team,
- Johnny Atkinson, in addition to his current role as Global Head of Insurance Marketing and Distribution, has been appointed Head of Insurance London,
- Christian Dunleavy, currently CEO of Aspen Re and the manager's insurance manager for Aspen Bermuda Ltd. has also been appointed CEO of Aspen Bermuda Ltd,
- Marcus Foley, former CEO of asset management, has been appointed Chief Strategy Officer and to Group Management,
- Paul Frydas, President and CEO, has been appointed Group Management,
- Silvia Martinez, previously associated Director-General, has been appointed Director-General and Corporate Secretary, and to Group Executive Team
- Zahir Petiwalla, Officer and Chief Operating Officer, Aspen Re, has been appointed Deputy CEO; and
- Sarah Stanford, International Head of Finance, will also be named Lloyd's Active Author of Syndicate 471
Mr. Cain, Mr Aman, Mr Atkinson, Mr Frydas, Martinez, Petiwalla and Ms. Stanford will be based in London, while Mr. Astwood, Mr. Dunleavy, Mr Foley will be based in Bermuda, spokesman.
"As we continue to focus on operational improvements and strengthen Aspen's competitiveness, it is important that we have the right talent to implement our strategy, serve brokers and customers, and drive to improve the long-term value of our business," says Cloutier. President and CEO of the statement.
Aspen has also begun to close its Dublin office because of the proposed flight from the Dublin relocation industry to London, according to the statement.