Aspen lines up former Third Point Re CFO to succeed Chidwick
Kevin Chidwick, group CFO at Aspen Insurance Holdings, is to retire by year end and will be succeeded by Christopher Coleman, who will start in his new role on 19 October.
Coleman, who will be based in Bermuda, will also join Aspen’s executive committee.
He was most recently CFO at Third Point Re until its merger with Sirius Group.
Aspen touted Coleman’s transaction and capital markets experience, citing the recent acquisition of Sirius Group by Third Point Re, Third Point Re’s IPO and his participation in other merger, debt and equity transactions over the course of his career.
Coleman also served as CFO of Alterra Bermuda, was chief accounting officer for Harbor Point and held a senior audit manager role with PwC.
Mark Cloutier, executive chairman and group CEO, said: “As we continue to accelerate into the next phase of our transformation, Chris’s track-record of helping to drive strong financial outcomes in high-performing insurance businesses will be a valuable addition to our group executive leadership team.”
On the announcement of Chidwick’s retirement, he added: “During his time at Aspen, Kevin has played an important role in helping return the business to profitability, despite a challenging market environment.
“With the group now in a position to look towards its longer-term strategic objectives, we respect Kevin’s own time horizon and decision to retire.”
In September, in an interview shortly after Aspen posted its first-half results – which marked a turnaround from its $49mn operating loss last year – CEO Cloutier said the progress his company made in turning around its underwriting operations could set the company up for a public listing by the end of next year.
“If we hit 2021 as I expect, based on most recent forecasts, and in 2022 we get close to our plan, I think a possibility for this business would be a potential IPO in early 2023,” he said.