Aspen
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David Cohen, Dan Vaughn and Tim Kania are understood to have left the company.
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The deal, first announced in March, secures Aspen $770mn in cover for losses in excess of $3.8bn, as well as $250mn in excess $4.8bn.
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The executive was believed to be in line to succeed CEO Mark Cloutier. -
Peter Slot previously led global A&H at the Bermuda company, which exited the class earlier this year.
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Small businesses from the hospitality sector sued the insurers in six states.
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The proportion of loss-makers falls 4 points from 2018 but is three times as high as 2014.
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The executive was head of casualty for North America and London for Axis Reinsurance.
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Change comes on the day the company’s Lloyd’s syndicate posted the worst result of all Lloyd’s syndicates.
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The worst performing Lloyd’s syndicate suffered from adverse development on prior years for both classes in 2019.
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Joint-third-ranked Cincinnati 318 and WRB Syndicate 1967 achieve significant underwriting turnarounds.
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Sources said the retreat of Liberty and Aspen from the class has made placements challenging for brokers
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The carrier has also appointed Kevin Chidwick as group CFO.
