Aspen

The carrier will reassess the market in the fourth quarter, or early in 2025.

Aspen said reduced reinsurance appetite made it a good time to seek alternative capacity.

The group-level CoR worsened 4.7-points in the quarter, coming in at 89.4%.

Karlsson was previously head of credit and structured risks.

The deal adds to Aspen’s existing support of the InsurTech in the UK and Canada.

Dan Osman will take over as active underwriter for Syndicate 4711.

Putting together two “show me” stories risks investor skepticism.

It was announced earlier today that former Aspen UK CEO Richard Milner was set to join Chaucer as group CEO.

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.

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.

The follow-only algorithmic syndicate has stamp capacity of $925mn for next year.

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.