Aspen
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The Bermudian carrier reported GWP of just over $4.3bn in 2022, a 10% increase on the year prior. -
The syndicate also reported an overall profit of £35.1mn for the year, up from a £34.3mn loss in 2021.
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David Altmaier previously served as the commissioner of insurance for the state of Florida, leading the office of insurance regulation for more than six years.
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The number of global, non-life run-off deals dropped to 48 over 2022, compared with 54 in 2021, according to a report from PwC.
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The former Canopius CEO will chair the company’s nominations and governance committees.
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Based in Bermuda, the executive will oversee the firm’s investments in technology and support its growth initiatives.
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Nick Acker joins from Arch Insurance group, where he spent 10 years, most recently as a vice president in its wholesale and distribution management team.
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The new carrier will be backed by Ariel Re owner Pelican Ventures and aims to write $50mn GWP in 2023.
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The firm’s leadership said a pattern of strong results is needed before triggering an IPO process.
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The carrier also reported GWP of just over $2.3bn for the first half of the year.
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The carrier’s withdrawal from certain specialty lines comes as remediation feeds through into improved results.
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The carrier’s former accountant KPMG will now have to respond to EY’s enquiries.
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