Aspen

Insurance's GWP decline was driven by a couple of programs that were underperforming, while reinsurance's deceleration was driven by a deliberate slowdown in the mortgage book.

Net income increased to $219mn over the period, up from $48mn in the same period last year, while underwriting income increased by 33% to $208mn.

In her expanded role, she will work with trading partners to represent Aspen in the US for all business segments and build out existing distribution strategies.

The executive joins from Crum and Forster, with 20 years’ cyber experience.

John Welch left his role as CEO of domestic markets at Axa XL Re last year in a leadership reshuffle.

Trium cyber is the first monoline cyber vehicle to be approved by Lloyd’s, and began writing business in January.

Aspen’s global head of casualty and head of international reinsurance Beatrice Morley is set to relocate to London as of 1 August.

The company did not provide prior-year period figures as it usually discloses its results on a semiannual basis.

Mark Cloutier set out Aspen’s plans for top-line 2023 growth in the range of 10%, and a continued strategy of pursuing rate rather than exposure growth in property cat.

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.

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.