Aspen Announces Organizational Changes
January 14, 2010 01:40 PM Eastern Time
HAMILTON, Bermuda--(EON: Enhanced Online News)--Aspen Insurance Holdings Limited (“Aspen”) (NYSE: AHL) today ann
corporate structure whereby it will manage its insurance and reinsurance businesses under two separate brands, Aspen Insurance an
Reinsurance, to enhance and better serve its global customer base. This will allow Aspen to place a greater emphasis on client servi
increased focus on the regional markets in which it operates.
Under the reorganization, Aspen’s Insurance operations will comprise primarily its existing International Insurance and U.S. Insuran
Rupert Villers, Global Head of Financial and Professional Lines Insurance, has been appointed CEO of Aspen Insurance. Bill Murr
Aspen’s US Insurance division will continue to lead Aspen’s US Insurance business. Aspen’s Reinsurance business will comprise th
Property Reinsurance, Casualty Reinsurance and Specialty Reinsurance. Brian Boornazian has been appointed CEO of Aspen Rein
James Few has been appointed President of Aspen Reinsurance.
“We are always looking for ways to best serve our clients and we believe creating two distinct identities for our insurance and reinsu
will help to further enhance the excellent service our clients have come to expect from Aspen,” said Chris O’Kane, Aspen’s Chief E
As part of the reorganization, Julian Cusack will assume the role of Group Chief Risk Officer. Mr. Cusack previously served as Chi
Officer. Mr. Cusack will remain Chairman and Chief Executive Officer of Aspen Insurance Limited ('Aspen Bermuda'), roles he has
November 2006 and June 2002, respectively. In addition, Mr. Cusack will continue to chair Aspen's Reserving Committee. As a re
decentralization of responsibilities, the chief operating officer position at the group level will not be filled.
Commenting on Mr. Cusack’s new role, Chris O’Kane said: “Risk management is key to everything we do at Aspen and I am confi
Julian’s leadership we will be able to take this to