” During his time at Aspen, Kevin has played an important function in assisting return the business to success, despite a difficult market environment. With the Group now in a position to look towards its longer-term strategic objectives, we appreciate Kevins own time horizon and decision to retire. In Chris we have actually determined the ideal successor, and I am happy that we have actually been able to provide a smooth shift period.
Aspen Insurance Holdings Limited, the Bermuda headquartered insurance coverage and reinsurance underwriter, has revealed the hiring of Chris Coleman from SiriusPoint as its brand-new Group Chief Executive Officer (CFO), a relocation that brings extra capital markets competence to the businesss senior bench.Chris Coleman gained particular capital markets reinsurance experience in his time at hedge fund backed Third Point Re, where he worked as a Chief Accounting Officer and after that the companys Chief Financial Officer, functions that saw him working on the technique of its catastrophe investment fund.
After Third Point Re combined with Sirius Group, to form the new company SiriusPoint, Coleman was expected to be predestined for a new senior function at the company. It appears a more suitable opportunity has been discovered with competing Aspen.
Aspen stated today that current Group CFO Kevin Chidwick will retire at the end of the year therefore it has worked with Christopher (Chris) Coleman, who will take on the Group CFO role from October 19th.
Coleman will be based in Bermuda and will sign up with the Aspen Executive Committee.
Coleman has gotten strong deal and capital markets experience, through acquisitions and likewise Third Point Res IPO, plus other merger, financial obligation and equity deals throughout his profession.
Formerly, he acted as CFO of Alterra Bermuda Limited, was Chief Accounting Officer for Harbor Point Limited and held a senior audit manager role with PwC.
Coleman talked about his new position, “I am thrilled to be signing up with Aspen at such a crucial time in its turn-around journey. Aspen has actually taken a variety of actions to date that have begun to take shape and Im anticipating working with the team to construct on this momentum.
” I look forward to bringing my understanding and experience to make a positive effect on the culture and to assist drive improvement in the underlying outcomes of business.”
Mark Cloutier, Executive Chairman and Group Chief Executive Officer, added “As we continue to accelerate into the next stage of our change, Chris track-record of assisting to drive strong monetary outcomes in high- carrying out insurance companies will be an important addition to our Group executive management group. Chris will partner with each member of the Group Executive Committee, consisting of Mark Pickering, our Group Chief Capital Management Officer and Treasurer, who will continue to successfully lead our capital management strategy and corporate finance initiatives.
” During his time at Aspen, Kevin has played a crucial role in assisting return business to success, regardless of a tough market environment. With the Group now in a position to look towards its longer-term strategic goals, we respect Kevins own time horizon and choice to retire. In Chris we have actually determined the perfect follower, and I am happy that we have been able to deliver a smooth shift period. On behalf of the Board, I would like to thank Kevin and want him well in his retirement.”
Aspens strategy with third-party capital is to bring investors into almost every line of work the business underwrites, which means there is considerable chance for capital markets and institutional structuring of custom cars to assist financiers access danger composed by the business.
Colemans broad capital market experience will assist to drive a culture of institutional quality from the top and his knowledge will be important to Aspens growing ventures in insurance-linked securities (ILS).