Aspen Insurance Holdings has unveiled a new corporate structure, whereby it will manage its insurance and reinsurance businesses under two separate brands Aspen Insurance and Aspen Reinsurance, to enhance and better serve its global customer base.
The company said that the new corporate structure will allow it to place a greater emphasis on client service, with an increased focus on the regional markets in which it operates.
Under the reorganization, the company’s insurance operations will comprise its existing international insurance and the US insurance divisions. Rupert Villers, global head of financial and professional lines insurance, has been appointed as CEO of Aspen Insurance.
The company said that its reinsurance business will comprise three divisions property reinsurance, casualty reinsurance and specialty reinsurance. Brian Boornazian has been appointed as CEO of Aspen Reinsurance and James Few has been appointed as president of Aspen Reinsurance. Bill Murray, president of the company’s US insurance division will continue to lead its US insurance business.
As part of the reorganization, Julian Cusack will assume the role of group chief risk officer. He previously served as chief operating officer and will remain as chairman and CEO of Aspen Insurance, roles he has held since November 2006 and June 2002, respectively. In addition, Mr Cusack will continue to chair the company’s reserving committee. As a result of the decentralization of responsibilities, the chief operating officer position at the group level will not be filled.
Chris O’Kane, CEO of Aspen, said: “We are always looking for ways to best serve our clients and we believe creating two distinct identities for our insurance and reinsurance businesses will help to further enhance the excellent service our clients have come to expect from Aspen.”