Stephen Postlewhite Appointed Chief Executive Officer, Aspen
Insurance;
Thomas Lillelund Appointed Chief Executive
Officer, Aspen Reinsurance
HAMILTON, Bermuda--(BUSINESS WIRE)--
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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160518005739/en/
For further information:
Please
visit www.aspen.co
or contact:
Investors
Aspen
Mark Jones, Senior
Vice President, Investor Relations
+1 (646) 289 4945
Mark.P.Jones@aspen.co
or
Media
Aspen
Steve
Colton, Head of Group Communications
+44 20 7184 8337
Steve.colton@aspen.co
or
International
- Citigate Dewe Rogerson
Caroline Merrell or Jos Bieneman
+44
20 7638 9571
Caroline.Merrell@citigatedr.co.uk
Jos.Bieneman@citigatedr.co.uk
or
North
America - Sard Verbinnen & Co
Paul Scarpetta or Jamie Tully
+1
(212) 687 8080
Source: Aspen Insurance Holdings Limited