Aspen

Andrew Kudera was previously group chief actuary at Validus.

The InsurTech also raised $37mn in a funding round led by Founders Fund.

The move is likely to be interpreted as succession planning for current CEO Cloutier.

The Mark Cloutier-led carrier reported improvement in its underlying underwriting result.

The executive will work alongside head of international catastrophe Andrew Mellor at the Bermuda reinsurer.

Meredith Head will join the reinsurer in September after more than 10 years at TMR.

The popular BBC motoring programme Top Gear’s special editions see a trio of presenters embark to often inhospitable parts of the globe to complete audacious competitive challenges in budget cars.

Shareholders are likely to support the sale, and the possibility of a challenger bid seems remote.