Aspen Re Management Change
March 29 2018 - 8:30AM
Business Wire
Aspen Insurance Holdings Limited (“Aspen” or the “Company”)
(NYSE:AHL) announced today that Brian Boornazian has decided to
retire as Chairman of its reinsurance segment, Aspen Re, and as
Chief Executive Officer of Aspen Re, Americas, with effect from the
end of April.
Chris O’Kane, Group Chief Executive Officer, said: “I would like
to thank Brian for his outstanding service to Aspen over the last
14 years. Under his leadership and with his sharp focus on
execution, we have grown our reinsurance business significantly and
enhanced our highly-respected position in our chosen markets. He
has also made a significant contribution to our executive
management capabilities and I know that I speak for everyone at
Aspen in wishing him every success in the future.
“We have an outstanding team at Aspen Re under the leadership of
Thomas Lillelund and Emil Issavi and are well positioned to sustain
the long-standing success of the business moving forward.”
Thomas Lillelund, Chief Executive Officer of Aspen Re, added: “I
would like to add my thanks to Brian for his valuable advice and
wise counsel as we worked together closely to grow our reinsurance
business over the last few years.”
Mr. Boornazian’s role as Chairman of Aspen Re and Chief
Executive Officer of Aspen Re, Americas, will not be replaced. Emil
Issavi will continue to lead Aspen’s reinsurance business in the
Americas in his capacity as President and Chief Underwriting
Officer of Aspen Re.
Brian Boornazian commented: “I am immensely proud of what we
have achieved during my time at Aspen and to see our reinsurance
segment develop into the outstanding business that it is today. I
would like to thank my colleagues and friends within Aspen for
their huge support over many years and to wish them much success in
the future.”
NOTES TO EDITORS:
About Brian Boornazian
Mr. Boornazian was appointed Chairman of Aspen Re and Chief
Executive Officer of Aspen Re, North America, in August 2012. He
was subsequently appointed Chief Executive Officer of Aspen Re,
Americas, in May 2017, in addition to his role as Chairman. Prior
to this, Mr. Boornazian had been the Chief Executive Officer of
Aspen Re from January 2010 to August 2012 and President of Aspen Re
from June 2008 until January 2010. Before that, he had been Head of
Reinsurance from May 2006 until June 2008. Mr. Boornazian joined
Aspen in January 2004.
Before joining Aspen, Mr. Boornazian was at XL Re America, where
he acted in several capacities including Senior Vice President,
Chief Property Officer responsible for property facultative and
treaty, as well as marine, and the Chief Marketing Officer. He
began his career in 1982 at Gen Re and also held senior positions
at NAC Re, Cologne Re of America and Guy Carpenter.
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, Ireland,
Singapore, Switzerland, the United Arab Emirates, the United
Kingdom and the United States. For the year ended December 31,
2017, Aspen reported $12.9 billion in total assets, $6.7 billion in
gross reserves, $2.9 billion in total shareholders’ equity and $3.4
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 Investors 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,” “project,” “anticipate,” “seek,” “will,”
“estimate,” “may,” “likely,” “continue,” “assume,” “objective,”
“aim,” “guidance,” “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, 2017 as filed with the U.S.
Securities and Exchange Commission. 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: https://www.businesswire.com/news/home/20180329005172/en/
AspenInvestorsMark Jones, +1 (646) 289 4945Senior
Vice President, Investor
Relationsmark.p.jones@aspen.coorMediaSteve Colton, +44 20
7184 8337Head of Group CommunicationsSteve.colton@aspen.co
Aspen Insurance (NYSE:AHL)
Historical Stock Chart
From Mar 2024 to Apr 2024
Aspen Insurance (NYSE:AHL)
Historical Stock Chart
From Apr 2023 to Apr 2024