Aspen US Forms New Marine, Energy, Construction Unit

Aspen US Forms New Marine, Energy, Construction Unit

Source: Insurance Journal, April 10, 2013

Aspen Insurance, the insurance segment of Aspen Insurance Holdings Ltd., has formed a specialty marine, energy and construction unit within its US Insurance business, led by Anthony S. Carroll who has been named executive vice president. The unit complements Aspen Insurance’s existing London-based operations in marine, energy and construction and creates a specialist offering for Aspen’s U.S. clients and brokers in these sectors.

The U.S.-based marine, energy and construction unit will underwrite a variety of onshore energy and construction sector classes of business with a focus on property covers and will distribute its products in the U.S. primarily through a limited number of retail and wholesale brokers. Aspen U.S. Insurance’s existing marine business will be incorporated into this unit.

Carroll, who will report to Mario P. Vitale, CEO, Aspen Insurance, joins Aspen with 28 years of insurance experience. Most recently, he was with Liberty International Underwriters where he spent 11 years in leadership positions in their global marine, energy, fire and construction business. Prior to Liberty, Carroll worked at Starr Technical Risks Agency and Cigna in a variety of management positions.

Aspen U.S. Insurance writes property, casualty and specialty insurance in the U.S. on both a surplus lines and admitted basis through Aspen Specialty Insurance Co. and Aspen American Insurance Co. The underwriting teams focus on inland marine and ocean risks, professional liability, management liability and directors and officers insurance, which are underwritten in addition to property, general casualty and environmental liability.

 

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