Aspen to Expand Its Insurance Operation into Singapore and New Senior Appointments
09 November 2015 - 11:00PM
Business Wire
Entry on Lloyd’s Asia platform
Aspen Insurance Holdings Limited (“Aspen” or the “Aspen
Group”) (NYSE:AHL) has today announced the entry of its insurance
segment, Aspen Insurance, into Singapore through Aspen’s Lloyd’s
syndicate on the Lloyd’s Asia platform from 1 January 2016, subject
to regulatory approval.
The establishment of Aspen’s insurance presence in Singapore is
consistent with Aspen’s strategy of leveraging its existing
strength and expertise in certain product lines in its target
markets globally. Aspen Insurance’s Singapore operation will
initially focus on the provision of Onshore and Offshore Energy,
Marine Hull, Accident and Health, Terrorism, Financial and
Corporate Risks, Professional Indemnity, Technology, Data
Protection and Cyber and Credit and Political Risk insurance
risks.
Ann Haugh, President, Aspen International Insurance and Chief
Operating Officer, Aspen Insurance, said: “In Singapore we will
continue to deliver the highest standards of underwriting and
customer service for which we are known, offering expertise to
clients and brokers locally.”
She added: “We look forward to engaging with brokers and
focusing on the opportunities created by our closer proximity to
existing and new clients.”
The Singapore insurance operation will be led by Yann Marmonier,
who is joining Aspen as Principal Officer and Managing Director.
Yann was previously Singapore Country Manager at XL Catlin. Prior
to this, he held senior roles with Catlin in Singapore, including
branch Chief Executive Officer.
Paul Hackett has been appointed Head of Marine for the Singapore
office and was most recently at XL Catlin in Singapore. He
previously spent almost 20 years with RSA in underwriting and
management positions.
Ann Haugh commented: “Yann and Paul have proven experience and
strong track-records in developing businesses in Singapore and I am
delighted that they are joining Aspen Insurance at this exciting
time.”
About Aspen Insurance Holdings Limited
Aspen provides reinsurance and insurance coverage to clients in
various domestic and global markets through its subsidiaries and
offices in Australia, Bermuda, France, Germany, Ireland, Singapore,
Switzerland, the United Kingdom and the United States. For the year
ended December 31, 2014, Aspen reported $10.7 billion in total
assets, $4.8 billion in gross reserves, $3.4 billion in total
shareholders’ equity and $2.9 billion in gross written premiums.
Its operating subsidiaries have been assigned a rating of “A”
(“Strong”) by Standard & Poor’s Financial Services, an “A”
(“Excellent”) by A.M. Best Company Inc. and an “A2” (“Good”) by
Moody’s Investor Service, Inc.
Application of the Safe Harbor of the Private Securities
Litigation Reform Act of 1995
This press release contains "forward-looking" statements
regarding future results and events, including, without limitation,
statements regarding its personnel and achievement of Aspen’s
strategies and business plans. Forward-looking statements include
all statements that do not relate solely to historical or current
facts, and can be identified by the use of words such as “expect,”
“intend,” “plan,” “believe,” “do not believe,” “aim,” “project,”
“anticipate,” “seek,” “will,” “likely,” “assume,” “estimate,”
“may,” “continue,” “guidance,” “objective,” “outlook,” “trends,”
“future,” “could,” “would,” “should,” “target” and similar
expressions of a future or forward-looking nature.
All forward-looking statements rely on a number of assumptions,
estimates and data concerning future results and events and are
subject to a number of uncertainties and other factors, many of
which are outside Aspen’s control that could cause actual results
to differ materially from such statements. For a detailed
description of uncertainties and other factors that could impact
the forward-looking statements in this press release, please see
the “Risk Factors” section in Aspen’s Annual Report on Form 10-K
for the year ended December 31, 2014 filed with the U.S. Securities
and Exchange Commission on February 23, 2015. Aspen undertakes no
obligation to update or revise publicly any forward-looking
statements, whether as a result of new information, future events
or otherwise.
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Please visit www.aspen.co or contact:InvestorsAspenMark
Jones, +1 646-289-4945Senior Vice President, Investor
Relationsmark.p.jones@aspen.coorMediaInternational –
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MacGregorCarina Davidson, +1 212-371-5999ccd@abmac.comorAllyson
Vento, +1 212-371-5999amv@abmac.com
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