Aspen Insurance Holdings (Aspen) has new leaders for its insurance and reinsurance segments.
Stephen Postlewhite, previously chief executive officer, Aspen Reinsurance, has been appointed CEO, Aspen Insurance.
Postlewhite was appointed CEO of Aspen Re, Aspen's reinsurance business, in September 2014. He was previously the group chief risk officer, a position he was appointed to in February 2013. He joined Aspen as deputy chief actuary in 2003 and became the head of risk capital six years later.
Thomas Lillelund, previously managing director, Asia Pacific, for Aspen Reinsurance, succeeds Postlewhite as CEO, Aspen Reinsurance.
Lillelund has been the Aspen Re managing director for Asia Pacific since 2012, having joined Aspen in 2008. He began his career in underwriting and management in 1995 and has previously worked at General Re, Swiss Re and AIG.
These appointments follow the announcement by Mario Vitale of his intention to retire from Aspen. Vitale has been CEO, Aspen Insurance, since 2012 and he will remain with Aspen until June 30 to ensure a smooth transition.
In addition, Robert Rheel, president, Aspen US Insurance, has announced his intention to retire from Aspen after 35 years in the industry. The company is conducting a search for his successor and Rheel will remain with Aspen until the end of June to assist with the transition.
Chris O’Kane, Aspen’s CEO, said: “The leadership changes announced today reflect our strategy of continuing to build strong, diversified insurance and reinsurance platforms for the benefit of our clients, business partners and investors.
“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 strategic and operational skills as we continue to align our insurance business globally and leverage our increased scale to generate growth and enhanced profitability.”
He added: “Thomas is an extremely gifted leader who established our Singapore office in 2008 and he has built a highly successful 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.”
Aspen, Insurance, Reinsurance, Appointment, Stephen Postlewhite, Thomas Lillelund, Robert Rheel, Bermuda, North America