Aspen U.S. Insurance is pleased to announce the establishment of its new Surety insurance unit, led by Michael Toppi, Executive Vice President of Aspen U.S. Insurance. Joining Mr. Toppi will be Mathew Raino, Vice President, Commercial Surety, and Ryan Field, Assistant Vice President, Commercial Surety. The Surety team will based in Rocky Hill, Connecticut, and will adopt a niche approach to the market, with a focus on public and private commercial and non construction surety.

John Cavoores, Co-CEO of Aspen Insurance, said, “I am delighted that Mike has joined Aspen. He is a recognized industry leader with twenty three years of experience. He has great broker and client relationships and all the necessary technical skills to continue his profitable track-record. The formation of this business is another step in the development of Aspen’s U.S. specialty insurance operations.”

Mr. Toppi commented, “I am very pleased to be joining the Aspen team and look forward to working with underwriting professionals that share a common view of the business. I welcome the opportunity to build a first class surety franchise with Aspen’s support.”

John Cavoores added, “Entering this particular market segment is consistent with Aspen’s strategy of selective diversification in businesses that have historically produced great results. I look forward to working with Mike and his team.”

About Michael Toppi

Mr. Toppi joins Aspen from Travelers Bond & Financial Products. His career in the surety business spans over twenty three years with both Travelers where he began in 1987, and The Hartford Insurance Group. Previously, Mr. Toppi worked as a Police Officer in the City of Hartford and served in the United States Air Force. He is a graduate of the University of Connecticut with a degree in Political Science.

About Mathew Raino

Mr. Raino joins Aspen from Travelers Bond & Financial Products where his responsibilities included production, underwriting and portfolio management for the Southern Region of the US with a particular focus on the Energy and Municipal Solid Waste industries. Mr. Raino is a graduate of the University of South Carolina, with a Bachelor of Science degree in Finance.

About Ryan Field

Mr. Field is a specialist in commercial surety and joins Aspen from Travelers Bond & Financial Products, where he was responsible for underwriting and portfolio management in the Southern Region of the US with a focus on the Mining & Mineral Industry. Prior to joining the insurance sector, Mr. Field worked in the Wholesale Mortgage Division at Deutsche Bank. Mr. Field graduated from Mount St. Mary College with a degree in Mathematics.

About Aspen U.S. Insurance

Aspen U.S. writes property, casualty and specialty insurance in the U.S. on both a surplus lines and admitted basis through Aspen Specialty Insurance Company and Aspen American Insurance Company. In the last 18 months a number of teams have been hired with a specialized focus on underwriting opportunities in Inland Marine and Ocean Risks, Professional Liability, Management Liability and Director’s and Officers Insurance which are underwritten in addition to established lines of Property, General Casualty and Environmental Liability.

About Aspen Insurance Holdings Limited

Aspen Insurance Holdings Limited (AHL:NYSE) provides reinsurance and insurance coverage to clients in various domestic and global markets through wholly-owned subsidiaries and offices in Bermuda, France, Ireland, Singapore, the United States, the United Kingdom, Switzerland and Germany. For the twelve months ended December 31, 2010, Aspen reported gross written premiums of $2,076.8 million, net income of $312.7 million and total assets of $8.8 billion. 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. For more information about Aspen, please visit www.aspen.bm.

Application of the Safe Harbor of the Private Securities Litigation Reform Act of 1995:

This press release contains written, and Aspen's officers may make related oral, "forward-looking statements" within the meaning of the U.S. federal securities laws regarding its appointment of personnel and execution of its business plans. 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," "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 changes in market conditions and their impact on our business. For a detailed description of uncertainties and other factors that could impact the forward-looking statements in this release, please see the "Risk Factors" section in Aspen's Annual Report on Form 10-K for the year ended December 31, 2010, filed with the U.S. Securities and Exchange Commission on February 25, 2011.

Aspen Insurance (NYSE:AHL)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more Aspen Insurance Charts.
Aspen Insurance (NYSE:AHL)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Aspen Insurance Charts.