NEW YORK--(BUSINESS WIRE)--
Aspen Insurance, the insurance segment of Aspen Insurance Holdings
Limited (“Aspen”) (NYSE:AHL) has announced the formation of a specialty
marine, energy and construction unit within its US Insurance business,
led by Anthony S. Carroll who has been named Executive Vice President.
The unit complements Aspen Insurance’s existing London-based operations
in marine, energy and construction and creates a focused, specialist
offering for our clients and brokers in these sectors in the US.
The US-based marine, energy and construction unit will underwrite a
variety of onshore energy and construction sector classes of business
with a focus on property covers and will distribute its products in the
US primarily through a limited number of retail and wholesale brokers.
This unit will have an integrated team of underwriters, engineers, and
claims professionals focused on providing creative risk management based
solutions for the marine, energy and construction industries. Aspen US
Insurance’s existing marine business will be incorporated into this unit.
Anthony S. Carroll, who will report to Mario P. Vitale, CEO, Aspen
Insurance, joins Aspen with 28 years of insurance experience. Most
recently, he was with Liberty International Underwriters where he spent
11 years in leadership positions in their global marine, energy, fire
and construction business. Prior to Liberty, Carroll worked at Starr
Technical Risks Agency and Cigna in a variety of management positions.
Commenting on the unit, Vitale said, “The formation of a dedicated
marine, energy and construction unit in the US, focused on property and
onshore energy, fits perfectly with our strategy of providing specialty
solutions anchored by an industry focus. The global energy landscape is
growing and evolving, and we are pleased to be in a position to help
energy clients and brokers meet the demands of their business including
their construction protection needs.”
“Tony brings a wealth of experience to Aspen Insurance and he will be
instrumental in helping us to expand our presence in the US and build on
the success we have had to date,” he added.
Carroll commented: “This team will be highly specialized and dedicated
to the marine, energy and construction industry, in line within Aspen
Insurance’s approach to all specialist lines of business. I am excited
to work within the framework of Aspen Insurance’s integrated business
model built on professional underwriting, a strong risk management and
engineering culture, and claims integration.”
About Aspen US Insurance
Aspen US Insurance, which is part of Aspen Insurance Holdings Limited
(“Aspen”), writes property, casualty and specialty insurance in the US
on both a surplus lines and admitted basis through Aspen Specialty
Insurance Company and Aspen American Insurance Company. Our underwriting
teams have a specialized focus on opportunities in Inland Marine and
Ocean Risks, Professional Liability, Management Liability and Directors
and Officers Insurance which are underwritten in addition to established
lines of Property, General Casualty and Environmental Liability. Further
information about Aspen can be found at www.aspen.co
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, 2012, Aspen reported $10.3 billion in total assets, $4.8 billion in
gross reserves, $3.5 billion in shareholders’ equity, and $2.6 billion
in gross written premiums. Its operating subsidiaries have been assigned
a rating of “A” (“Strong”) by Standard & Poor’s, an “A” (“Excellent”) by
A.M. Best and an “A2” (“Good”) by Moody’s Investors Service.
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 the Company's appointment of key personnel and achievement of
its 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,” “project,” “anticipate,” “seek,” “will,” “estimate,” “may,”
“continue,” 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, including our ability to consummate the
transactions contemplated by the terms of the accelerated share
repurchase agreement, the share price and share volumes which may impact
timing of repurchases, changes in market conditions and the impact on
our business of such factors. 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,
2012, filed with the U.S. Securities and Exchange Commission on February
26, 2013. Aspen undertakes no obligation to update or revise publicly
any forward-looking statements, whether as a result of new information,
future events or otherwise.
For further information
Please visit www.aspen.co
or contact:
Investors:
Aspen
Kerry
Calaiaro, 646-502-1076
Senior Vice President, Investor Relations
Kerry.Calaiaro@aspen.co
or
Media:
Aspen
Insurance
Stefanie Frelick, 646-502-1042
Senior Vice
President, Marketing
stefanie.frelick@aspen-insurance.com
or
North
America:
Abernathy MacGregor
Allyson Vento, 212-371-5999
amv@abmac.com
or
International:
Citigate
Dewe Rogerson
Caroline Merrell or Jos Bieneman, +44 20 7638 9571
caroline.merrell@citigatedr.co.uk
jos.bieneman@citigatedr.co.uk
Source: Aspen US Insurance