Aspen
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The executive says the carrier made strides last year in its underwriting and is well positioned for growth. -
Catastrophe losses more than doubled to $360.8mn, which included $181.2mn of Covid-19 losses.
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The deal including 2019 and prior-year business covers about $500mn of loss reserves.
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Parr, the famed investment banker, had represented Apollo on the board and steps down with immediate effect.
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The appointment reflects a diversification push at the carrier.
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The new arrival at the M&A insurance specialist follows the departure of paper provider AGCS earlier this year.
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The former GL leader takes up a New York and Connecticut role.
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The carrier showed improvement in the underlying profitability of the carrier as the turnaround continues.
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The ratings agency has lowered the carrier’s rating by a notch because of capital adequacy concerns.
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The MDP-backed buyer strikes a simultaneous capacity deal with Crum & Forster.
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Theresa Froelich takes up the role following a restructure of senior leadership at the company.
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Guy Carp, Aon and TigerRisk are among the intermediaries that have submitted bids.
Related
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Q4 earnings roundup February 27: Aspen, HCI Group, American Coastal
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Aspen files F-1 with SEC confirming 2025 IPO optionality
December 11, 2024 -
Aspen Q3 CoR up 2.5 points to 95.2% driven by reinsurance cat losses
November 14, 2024