Aspen CEO shakes up top leadership as he ‘refines’ growth strategy

Bermuda-based re/insurer  Aspen has made a raft of new appointments, including a recent key hire from rival Arch Capital, as part of its strategy to bolster market-facing leadership and capital markets capabilities as it looks to take advantage of the market conditions.

Christian Dunleavy has been promoted to the newly created position of group chief underwriting officer (CUO).

“[Dunleavy] will lead our efforts to deliver against our strategy, leveraging our excellent Underwriting and Market facing teams with the strong capabilities of our Capital Partners business,” said Mark Cloutier (pictured), executive chairman and group chief executive officer of Aspen Insurance Holdings, while announcing several other promotions and changes in reporting lines.

Andrew Rippert will take on the role of CUO for the reinsurance segment. He joined Aspen in June with over 20 years’ experience in shaping and building global mortgage insurance and reinsurance businesses and portfolios. “His experience at Arch Capital saw him establish and lead a multi-billion dollar mortgage credit business that was preeminent in the market,” noted Cloutier. “I am looking forward to working with Andrew in his new role and he also will now join me on the Group ExCo.”

Furthermore, Beatrice Morley will step into the role of head of international reinsurance. Morley has been with Aspen since 2011 when she joined to develop Aspen’s Asian casualty portfolio. She was appointed global product head of casualty reinsurance in 2017 and is also currently head of APAC. This role will add Zurich to her Singapore and Australia/New Zealand oversight.

Finally, Mark Pickering will now take on the role of CEO of Aspen Bermuda, while retaining his current responsibilities as group chief capital management officer and treasurer. Pickering joined Aspen in 2015 as group treasurer and later became CFO and director of Aspen Bermuda in 2018. Cloutier praised Pickering for his “invaluable” contribution in improving relationships with regulators and rating agencies.

Cloutier stated: “ Aspen remains well positioned to take advantage of the market conditions as we continue to refine and retool our support functions to match our underwriting and capital markets capabilities.”

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