Aspen Insurance Holdings has reshaped the management of its insurance segment in order to hold a firm grip in the underwriting industry.

The company has appointed its current co-CEO Rupert Villers as chairman of Aspen Insurance and president of Aspen International Insurance, with effect from 1 July 2012.

Mario Vitale, co-CEO of Aspen Insurance, has been roped into CEO of Aspen Insurance globally and will remain president of Aspen US Insurance.

Rupert Villers will spearhead the development and execution of Aspen Insurance’s business strategy as well as support the development of strategy for Aspen’s International Insurance business and continue to be responsible for the day-to-day management of Aspen Insurance’s International underwriting teams, the firm said.

After taking charge as CEO of Aspen Insurance, Vitale will develop, establish and execute Aspen Insurance’s business strategy and manage the day-to-day business of Aspen Insurance globally.

He will also remain as president of US Insurance, to manage Aspen Insurance’s US underwriting teams and its US insurance operating platform.

Aspen offers 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 UK and the US.