Aspen Reshapes Insurance Segment Leadership
June 25 2012 - 2:38PM
Business Wire
Aspen Insurance Holdings Limited (“Aspen”) (NYSE:AHL) today
announces changes to the management of its Insurance segment.
Effective July 1, 2012, Rupert Villers (co-CEO, Aspen Insurance)
will assume a new position as Chairman of Aspen Insurance and
President of Aspen International Insurance. Mario Vitale (co-CEO
Aspen Insurance) will become CEO of Aspen Insurance globally and
remain President of Aspen US Insurance.
Rupert Villers has agreed to extend his service with Aspen until
the end of 2014. He will serve as Chairman of Aspen Insurance,
advising and supporting the development and execution of Aspen
Insurance’s business strategy. He will also serve as President of
International Insurance, where he will 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.
Mario Vitale will become CEO of Aspen Insurance. In this
capacity he will develop, establish and execute Aspen Insurance’s
business strategy and manage the day-to-day business of Aspen
Insurance globally. He will also continue to serve as President of
US Insurance, managing Aspen Insurance’s US underwriting teams and
its US insurance operating platform.
Commenting on the changes, Aspen’s CEO, Chris O’Kane said:
“Since early 2011, Aspen Insurance has had considerable success in
realizing its strategic objectives under the combined leadership of
Rupert Villers and Mario Vitale. As a result of the changes, Aspen
will continue to benefit from Rupert Villers’ expertise and has put
in place a firm foundation for the future strategic leadership and
direction of our Insurance business under Mario Vitale.”
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, 2011, Aspen reported $9.5 billion
in total assets, $4.5 billion in gross reserves, $3.2 billion in
shareholders’ equity and $2.2 billion in gross written premiums.
Its operating subsidiaries have been assigned a rating of “A”
(“Strong”) by Standard & Poor’s (“S&P”), an “A”
(“Excellent”) by A.M. Best and an “A2” (“Good”) by Moody’s
Investors Service (“Moody’s”).
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