Aspen Insurance names Mike Cain Group COO
Aspen Insurance Holdings Limited announced several changes to its executive leadership team to support continued operational improvement in the business. Mike Cain, previously Group General Counsel, has been appointed Group Chief Operating Officer and will remain Chief Executive Officer of Aspen UK for a transition period, subject to regulatory approval. Meanwhile, Tim Aman, in addition to his current role as Group Chief Risk Officer, will assume lead responsibility for outward reinsurance/Retro analysis, structuring and placement. Group CIO Bryan Astwood has been named to the Group Executive Committee while Jonny Atkinson, in addition to his current role as Global Head of Insurance Marketing and Distribution, has been appointed Head of Insurance London. Zahir Petiwalla, Performance Officer and Chief Operating Officer, Aspen Re, has been appointed Deputy Group Chief Operating Officer. Aspen also announced today that Aspen Insurance UK Limited has served notice of termination of the agency agreement between AIUK and Aspen Risk Management Limited. As a result, Aspen expects the business will be placed into runoff. Aspen is working with the management of ARML to ensure all policyholder obligations and service requirements are fully supported and consistent with Aspen's standards of policyholder and broker service. This decision has no impact on Aspen's mainstream UK Property and Casualty business. Additionally, Aspen announced that it has begun the process of closing its Dublin office as a result of the proposed move of its Dublin Excess Casualty underwriting business to London.