Aspen Bermuda appoints new CEO

Mike Cain, Aspen’s Group general counsel, has been appointed chief executive officer of Aspen Bermuda, in addition to his current role. The appointment is part of a management reshuffle.

Stephen Postlewhite, the chief risk officer of Aspen Insurance, has been appointed to the position of chief executive officer (CEO) of Aspen Re, the company’s reinsurance business. He succeeds James Few who is leaving Aspen to pursue other opportunities.

Emil Issavi has been appointed president of Aspen Re in addition to his existing role as chief underwriting officer for Aspen’s reinsurance business.

Brian Boornazian will remain as chairman of Aspen Re and CEO of Aspen Re, North America.

Richard Thornton, Aspen’s head of strategy, will assume the position of group chief risk officer, in addition to his current role.

Chris O’Kane, Aspen’s CEO, said: “We are delighted to have Steve Postlewhite - one of our brightest and most able leaders - at the helm of Aspen Re, particularly at a time of continuing change in the reinsurance market. Steve is the architect of Aspen’s capital modelling capability and played an integral role in building the strong risk management framework which underpins our business today.

“We have a very strong senior management team within Aspen Re and Steve Postlewhite is the right leader to continue to drive our reinsurance strategy forward, to adapt to fast changing market conditions and to take Aspen Re to the next level.

“I would like to thank James for the significant contribution he has made to Aspen over the last 12 years, most recently in terms of growing Aspen Re and in developing our Bermuda platform. We wish him every success in his future endeavours.”