Aspen
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Karlsson was previously head of credit and structured risks.
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The deal adds to Aspen’s existing support of the InsurTech in the UK and Canada.
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Dan Osman will take over as active underwriter for Syndicate 4711.
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Putting together two “show me” stories risks investor skepticism.
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It was announced earlier today that former Aspen UK CEO Richard Milner was set to join Chaucer as group CEO.
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The company also confirmed earlier reports from this publication that Goldman Sachs would be a leading bookrunner, along with Citigroup, Jefferies and Apollo Global Securities for its ~$4bn H1 2024 IPO in New York.
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The announcement comes almost two months after this publication revealed that the carrier had lined up Goldman Sachs, Citibank and Jefferies to run its $4bn H1 IPO in New York.
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The follow-only algorithmic syndicate has stamp capacity of $925mn for next year.
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CEO Mark Cloutier attributed the performance to increased investment income, driven by a higher rate environment, as well as increased fee income from Aspen Capital Markets, which “enhanced” the quality of earnings.
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Ratings could be lowered by one notch depending on regulatory restrictions on cash flow from Bermuda operating entities to non-operating holding companies, the ratings agency said.
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Edward Hart joined Aspen in February and has previously held roles at Brit and Barbican.
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Tim Mardon will become CUO at Aspen Bermuda Limited and a member of Aspen Re’s leadership team.
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