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Stephen Postlewhite, CEO of Aspen Insurance
29 January 2018Insurance

Aspen Insurance CEO departs after Q4 loss

Aspen Insurance's chief executive officer  Stephen Postlewhite is leaving the business with immediate effect, according to a Jan. 26 press release.

The company has appointed David Cohen as president and chief underwriting officer of Aspen Insurance, responsible for leading the day-to-day management of its insurance business, reporting to group CEO, Chris O’Kane.

The announcement comes shortly after the Bermuda-based re/insurer revealed fourth quarter 2017 underwriting losses of around $245 million.

The fourth quarter loss is driven by the impact of natural catastrophes as well as an increased frequency of mid-sized and attritional losses primarily in Aspen’s insurance segment. These include property and fire-related losses in the UK and US and, to a lesser extent, cyber losses and an increase in a previously reported surety loss.

Commenting on Cohen’s appointment, O’Kane remarked: “David joined Aspen in November 2015. Since his arrival, he has upgraded the underwriting talent in our insurance segment, is refocusing our underwriting book and is positioning Aspen Insurance for success in the next stage of its development. David is a strong and well-respected leader and I am confident that as we move forward, he will drive improvements across our Insurance business.”

“Steve has made a significant contribution to Aspen over the last 15 years and I would like to wish him all the best for the future,” O’Kane added.

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More on this story

News
8 August 2018   Bermuda-based Aspen has appointed Emil Issavi, president and chief underwriting officer of Aspen Re, to lead its reinsurance business, succeeding CEO Thomas Lillelund.
Insurance
14 May 2018   Former Aspen Insurance CEO Stephen Postlewhite has been awarded £852,256 as part of his termination package.
Insurance
3 May 2018   Profits fell at Bermuda-based Aspen Insurance Holdings in the first quarter because of net realized investment losses but the company also enjoyed solid growth in its gross written premiums, writing more than $1 billion worth of premium in the quarter for the first time.