Stephen Postlewhite Appointed Chief Executive
Officer, Aspen Insurance; Thomas Lillelund Appointed Chief
Executive Officer, Aspen Reinsurance
Aspen Insurance Holdings Limited (“Aspen”) (NYSE:AHL) announced
today new leaders for its Insurance and Reinsurance segments.
Stephen Postlewhite, previously Chief Executive Officer, Aspen
Reinsurance, has been appointed Chief Executive Officer, Aspen
Insurance with immediate effect. Thomas Lillelund, previously
Managing Director, Asia Pacific, for Aspen Reinsurance, succeeds
Mr. Postlewhite as Chief Executive Officer, Aspen Reinsurance.
These appointments follow the announcement by Mario Vitale of
his intention to retire from Aspen. Mr. Vitale has been Chief
Executive Officer, Aspen Insurance, since 2012 and he will remain
with Aspen until June 30 to ensure a smooth transition.
Aspen’s Chief Executive Officer, Chris O’Kane, said: “The
leadership changes announced today reflect our strategy of
continuing to build strong, diversified insurance and reinsurance
platforms for the benefit of our clients, business partners and
investors. Since taking over as CEO of Aspen Re in 2014, Stephen
has guided the business through a challenging market, executing on
our strategy and increasing profitability. Stephen is a proven
leader and we look forward to benefitting from his strategic and
operational skills as we continue to align our insurance business
globally and leverage our increased scale to generate growth and
enhanced profitability.”
“Thomas is an extremely gifted leader who established our
Singapore office in 2008 and he has built a highly successful and
profitable business across the Asia-Pacific region. I believe
Thomas is the right person to build on Stephen’s strong track
record, working closely alongside Brian Boornazian, Chairman of
Aspen Re and Emil Issavi, President and Chief Underwriting Officer
of Aspen Re. We are well positioned to sustain the success of our
reinsurance business under Thomas’ leadership.”
Chris O’Kane continued: “I would like to thank Mario for his
tremendous service to Aspen and to wish him all the best for the
future. Under his leadership, we have grown the U.S. platform
significantly and enhanced our highly respected position in the
markets we operate in internationally. With his passion, energy,
commitment and sharp focus on execution, Mario has built Aspen
Insurance into a leading specialty insurer with close to $2 billion
in annual premiums.”
In addition, Robert Rheel, President, Aspen U.S. Insurance, has
announced his intention to retire from Aspen after 35 years in the
industry. The Company is conducting a search for his successor and
Mr. Rheel will remain with Aspen until the end of June to assist
with the transition.
Chris O’Kane commented: “Bob has played a pivotal role in the
successful build-out of our U.S. Insurance brand over the last five
years. I would like to thank him for his considerable contribution
to the business during this time and to wish him well for the
future.”
Notes to Editors:
About Stephen Postlewhite
Stephen Postlewhite was appointed Chief Executive Officer of
Aspen Re, Aspen's reinsurance business, in September 2014. He was
previously the Group Chief Risk Officer, a position he was
appointed to in February 2013. He joined Aspen as Deputy Chief
Actuary in 2003 and became the Head of Risk Capital six years
later.
Before joining Aspen, he spent a year at the UK Financial
Services Authority working on the development of the Individual
Capital Assessment process for non-life insurers. Stephen had
previously spent nine years with KPMG in London and Sydney, working
as a senior general insurance actuarial consultant – predominantly
on the London market, Lloyd's and reinsurance clients. He started
his career as a management consultant at Andersen Consulting and
has been a Fellow of the Institute of Actuaries since 2001.
About Thomas Lillelund
Thomas Lillelund has been the Aspen Re Managing Director for
Asia Pacific since 2012, having joined Aspen in 2008. He began his
career in underwriting and management in 1995 and has previously
worked at General Re, Swiss Re and AIG.
Thomas is originally from Denmark and has lived and worked in
Latin America, North America, Europe, Africa, Middle East and Asia.
He has a BA in economics from the College of William & Mary, an
MBA from the Ivey Business School at the University of Western
Ontario and is an Associate in Reinsurance (ARe).
About Aspen Insurance Holdings Limited
Aspen provides reinsurance and insurance coverage to clients in
various domestic and global markets through wholly-owned
subsidiaries and offices in Australia, Bermuda, Canada, France,
Germany, Ireland, Singapore, Switzerland, the United Arab Emirates,
the United Kingdom and the United States. For the year ended
December 31, 2015, Aspen reported $11.0 billion in total assets,
$4.9 billion in gross reserves, $3.4 billion in total shareholders’
equity and $3.0 billion in gross written premiums. Its operating
subsidiaries have been assigned a rating of “A” by Standard &
Poor’s Financial Services LLC (“S&P”), an “A” (“Excellent”) by
A.M. Best Company Inc. (“A.M. Best”) and an “A2” by Moody’s
Investor Service, Inc. (“Moody’s”).
Application of the Safe Harbor of the Private Securities
Litigation Reform Act of 1995
This press release may contain written “forward-looking
statements” within the meaning of the U.S. federal securities laws.
These statements are made pursuant to the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995.
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,” “on track” 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, 2015 filed with the U.S. Securities
and Exchange Commission on February 19, 2016. 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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For further
information:Please visit www.aspen.co or
contact:InvestorsAspenMark Jones, Senior Vice President,
Investor Relations+1 (646) 289
4945Mark.P.Jones@aspen.coorMediaAspenSteve Colton, Head of
Group Communications+44 20 7184
8337Steve.colton@aspen.coorInternational - Citigate Dewe
RogersonCaroline Merrell or Jos Bieneman+44 20 7638
9571Caroline.Merrell@citigatedr.co.ukJos.Bieneman@citigatedr.co.ukorNorth
America - Sard Verbinnen & CoPaul Scarpetta or Jamie
Tully+1 (212) 687 8080
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