Aspen

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.

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.

Edward Hart joined Aspen in February and has previously held roles at Brit and Barbican.

Tim Mardon will become CUO at Aspen Bermuda Limited and a member of Aspen Re’s leadership team.

Ki announced a new multi-year partnership with Aspen and Travelers this morning.

The company said Ki is the first algorithmic underwriter to offer capacity from multiple syndicates.