On Wednesday, Shares of Aspen Insurance Holdings Ltd. (NYSE:AHL) inclined 1.04% to $46.81. The stock attained the volume of 248,088 shares. Aspen Insurance Holdings Limited declared new leaders for its Insurance and Reinsurance segments. Stephen Postlewhite, formerly Chief Executive Officer, Aspen Reinsurance, has been designated Chief Executive Officer, Aspen Insurance with immediate effect. Thomas Lillelund, formerly Managing Director, Asia Pacific, for Aspen Reinsurance, succeeds Mr. Postlewhite as Chief Executive Officer, Aspen Reinsurance.
Aspen Insurance Holdings Ltd. (NYSE:AHL), as of current trade, has shown weekly downbeat performance of 1.95 percent which was maintained at -2.06 percent in 1-month period. These appointments follow the declaration by Mario Vitale of his intention to retire from Aspen. Mr. Vitale has been Chief Executive Officer, Aspen Insurance, since 2012 and he will remain with Aspen until June 30 to ensure a smooth transition.
The year-to-date (YTD) performance reflected a -3.16 percent below last year. During the past three months the stock gains 5.41 percent, bringing six-month performance to -5.45 percent. The stock holds the market capitalization of $2.82B. Aspen’s Chief Executive Officer, Chris O’Kane, said: “The leadership changes declared recently reflect our strategy of continuing to build strong, diversified insurance and reinsurance platforms for the benefit of our clients, business partners and shareholders. Since taking over as CEO of Aspen Re in 2014, Stephen has guided the business through a challenging market, executing on our strategy and increasing profitability. Stephen is a proven leader and we look forward to benefitting from his planned and operational skills as we continue to align our insurance business globally and leverage our raised scale to generate growth and improved profitability.”
“Thomas is an exceptionally gifted leader who established our Singapore office in 2008 and he has built a highly unbeaten and profitable business across the Asia-Pacific region. I believe Thomas is the right person to build on Stephen’s strong track record, working closely alongside Brian Boornazian, Chairman of Aspen Re and Emil Issavi, President and Chief Underwriting Officer of Aspen Re. We are well positioned to sustain the success of our reinsurance business under Thomas’ leadership.”
Chris O’Kane continued: “I would like to thank Mario for his marvelous service to Aspen and to wish him all the best for the future. Under his management, we have grown the U.S. platform significantly and improved our highly respected position in the markets we operate in internationally. With his passion, energy, commitment and sharp focus on execution, Mario has built Aspen Insurance into a leading specialty insurer with close to $2 billion in annual premiums.”
For Aspen Insurance Holdings Ltd. (NYSE:AHL), ATR value is at 0.72. If we take a look on its volatility, 1.64 percent was seen in a week and for the month it was 1.55 percent. In addition, Robert Rheel, President, Aspen U.S. Insurance, has declared his plan to retire from Aspen after 35 years in the industry. The Company is carrying out a search for his successor and Mr. Rheel will remain with Aspen until the end of June to assist with the transition.
Chris O’Kane commented: “Bob has played a key role in an unbeaten build-out of our U.S. Insurance brand over the last five years. I would like to thank him for his considerable contribution to the business during this time and to wish him well for the future.”
