Aspen Insurance CEO O’Kane Issues Statement That He Will Step Down in 2019

Article 0 Comments Chris O’Kane, group chief executive of Aspen Insurance Holdings, issued the following statement to employees that he will step down from his position when Apollo Global Management completes its purchase of Aspen in the first half of 2019. The statement was filed on Oct. 1 with the […]

Cloutier to Step Down as Brit’s Exec. Chairman, with Plans to Become CEO of Aspen

Article 0 Comments Brit Ltd. announced that Mark Cloutier will step down from his role as executive chairman of Brit in December 2018. Following his departure, Cloutier will take up a role with an affiliate of Apollo Global Management, LLC, working as a consultant with an immediate focus on the […]

Private Equity Firm Apollo to Buy Aspen Insurance for $2.6 Billion

Article 0 Comments Apollo Global Management LLC, the investment firm led by Leon Black, agreed to acquire Aspen Insurance Holdings Ltd. for $2.6 billion, in the latest example of private equity investors expanding their insurance assets. Apollo will pay $42.75 a share in cash for the Hamilton, Bermuda-based insurer, 6.6 […]

A Tale of Two Floridas: Hurricane Irma’s Belated Impact on Reinsurers

Article 0 Comments Everest Re was among those negatively impacted, with a preannounced net reserve charge of $250 million after taxes pushing net income down to $69.9 million, a figure more than 70 percent lower than last year’s second-quarter income of $245.7 million. During an earnings conference call, Dom Addesso, […]

Aspen Promotes Issavi to Lead Its Reinsurance Business, Succeeding Lillelund

Article 0 Comments Bermuda-based Aspen Insurance Holdings Ltd. announced that Emil Issavi, president and chief underwriting officer of Aspen Re, has been appointed to lead its reinsurance business with immediate effect. Issavi succeeds Thomas Lillelund who is leaving Aspen to become chief executive officer of Luxembourg-based AIG Europe. AIG Europe […]

Aspen’s Restructuring Continues – To Improve Results, Preserve Shareholder Value

Article 0 Comments The chief executive of Aspen Insurance Holdings Limited described business changes to Aspen’s Lloyd’s insurance book last week, while neither unequivocally confirming or denying rumors that a deal to sell the entire company is imminent. “We have a very good business with significant upside potential and we […]

As Underwriting Pain Increases, Insurers Pull Back from Underperforming Lines

Article 0 Comments News that Lloyd’s is undergoing a strategic review of its operations may be part of a larger industrywide phenomenon—reality is setting in and underwriting pain is increasing, an industry executive said last week. Markel Corp. Co-Chief Executive Officer Richie Whitt made the observation during his company’s earnings […]

Boornazian to Retire as Chairman of Aspen Re and CEO of Aspen Re, Americas

Article 0 Comments Aspen Insurance Holdings Ltd. announced that Brian Boornazian has decided to retire as chairman of its reinsurance segment, Aspen Re, and as chief executive officer of Aspen Re, Americas, with effect from the end of April. “I would like to thank Brian for his outstanding service to […]