Aspen Announces Increased Emphasis on Regional Leadership in Its Reinsurance Segment
08 August 2012 - 12:24AM
Business Wire
Aspen Insurance Holdings Limited (“Aspen”) (NYSE:AHL) today
announces changes to the management of its reinsurance segment
(Aspen Re). Effective today, Brian Boornazian (CEO, Aspen Re) will
assume the position of Chairman of Aspen Re. James Few
(President, Aspen Re) will become CEO of Aspen Re. Emil
Issavi will become CUO of Aspen Re.
Aspen has made a number of management changes in its reinsurance
segment, which reinforces Aspen Re’s commitment to serving its
clients by combining its global product expertise with local
deployment of underwriting capabilities.
Brian Boornazian has been appointed as Chairman and Performance
Director of Aspen Re and CEO of North America for Aspen Re. In this
role he will oversee the development and execution of Aspen’s
global reinsurance business strategy and will also leverage his
extensive market experience and client knowledge to further enhance
Aspen Re’s approach to client service and relationship management
globally. He will also be responsible for managing business
performance.
James Few, will become CEO of Aspen Re and will develop,
establish and execute Aspen Re’s global business strategy, with
responsibility for its successful implementation.
Emil Issavi has been appointed as Chief Underwriting Officer of
Aspen Re. In addition, Managing Directors have been appointed for
Europe, North America, Asia Pacific, Latin America, Middle East and
Africa and Global Accounts.
Commenting on the changes, Aspen’s CEO, Chris O’Kane said “Aspen
Re has grown to be an established market leader since our formation
10 years ago. A cornerstone of our success has been a rigorous
focus on our clients and client service. Over this period, however,
the reinsurance market has continued to evolve with increased
emphasis on business being placed locally. The changes announced
today reflect this trend and our reinsurance business will be
managed on an increasingly regionalized and client facing
basis.”
About Aspen Insurance Holdings Limited (“Aspen”)
Aspen provides reinsurance and insurance coverage to clients in
various domestic and global markets through wholly-owned
subsidiaries and offices in Bermuda, France, Germany, Ireland,
Singapore, Switzerland, the United Kingdom and the United States.
For the year ended December 31, 2011, Aspen reported $9.5 billion
in total assets, $4.5 billion in gross reserves, $3.2 billion in
shareholders’ equity and $2.2 billion in gross written premiums.
Its operating subsidiaries have been assigned a rating of “A”
(“Strong”) by Standard & Poor’s (“S&P”), an “A”
(“Excellent”) by A.M. Best and an “A2” (“Good”) by Moody’s
Investors Service (“Moody’s”).
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