Aspen Insurance Holdings Ltd. said in a filing with the US Securities and Exchange Commission on Monday that it has replaced its auditor after identifying material weaknesses in internal control over financial reporting.
Those errors are “immaterial to Aspen’s previous financial statements,” the Bermuda-based insurer and reinsurer said in the filing.
As of July 6, Aspen has appointed Ernst & Young LLP to replace KPMG LLP as its independent registered public accounting firm for fiscal year 2022. KPMG had resigned on June 8.
“The audit committee and the board of directors of the company discussed the subject of such material weaknesses and related remediation plans with KPMG and have authorized KPMG to respond fully to EY̵7;s inquiries regarding such matters,” Aspen said in the filing.
Aspen reported that it had discovered weaknesses in its internal controls in its annual report for the fiscal year ending December 31, 2021, released on May 16.