Professional indemnity

This publication understands Aspen will either look to strike renewal rights deals on the aviation, marine hull and international professional indemnity books, or put them into run-off.

The start-up will initially focus on management liability lines in the UK and Ireland.

The seller’s board has also refused to grant exclusivity to the investment firm as hopes of a 1 August deal fade.

Senior underwriter Fergus Fergusson will take over following the departure of Donnacha Smyth to XL Catlin.

Aspen has lost more underwriters as members of its Bermuda FinPro team jump ship.

The Bermudian lost six underwriters and a claims specialist last week.

California, Florida, Texas and New York account for more than three quarters of premiums, which rise over 9 percent.

The team will be led by David Doe, formerly a director at the London market broker.

Ed Beckwith has held the role since August 2015.

Survey shows 80 percent identify breaches as top concern.

Axis was most recently professional lines unit leader for that nation at Axis.

The consortium has £10mn of primary capacity.