Aspen

Under the terms of the deal, Aspen will provide paper across multiple geographies with three programs in the US and four in Europe.

Project Leaf will see environmental, social and governance (ESG) information issues woven into Aspen’s decision making for its credit and political risk portfolio.

The deal is the largest in Enstar’s history and sets Aspen up either for a sale to a strategic buyer or a return to the public markets.

Ashley Bowell was found guilty of defrauding his former employer, and its insurer Aspen, after falsely claiming to have been injured at work.

The carrier said the move reinforces the importance of Lloyd’s as a platform.

In a raft of promotions, Andrew Rippert will become reinsurance CUO and Beatrice Morley head of international reinsurance.

The executive will join the business in early January, replacing Mike Cain.

The significant pre-emption is predominantly driven by the transfer of a reinsurance book from the carrier’s UK platform to Lloyd’s.

Kevin Chidwick, group CFO at Aspen Insurance Holdings, is to retire by year end and will be succeeded by Christopher Coleman.

“If we hit ’21, as I expect, based on most recent forecasts, and in ‘22 we get close to our plan, I think a possibility for this business would be a potential IPO in early ’23,” Cloutier told this publication on Tuesday.

The carrier has non-renewed around $800mn of business in the past 18 months.

Aspen said Mike Cain will still remain with the company through Q1 2022.