Aspen expands support for Ryan MGU

21-01-2022

Aspen expands support for Ryan MGU

Mark Cloutier, CEO, Aspen

Bermuda re/insurer Aspen Insurance Holdings has partnered with Ryan Specialty to support an international portfolio of delegated underwriting authority business. 

From 1 January 2022, Aspen has joined an additional seven programs from Ryan Specialty Underwriting Managers’ MGU portfolio, an arrangement that “harnesses the full scope of Aspen’s capabilities, in insurance, reinsurance and capital markets”, according to the company.

Aspen will provide capacity across multiple platforms and geographies, with four programs in the US and three programs in Europe.

“This expanded trading partnership showcases Aspen’s comprehensive capabilities, combining insurance, reinsurance and capital markets to deliver an innovative, risk transfer solution,” said Aspen executive chairman and group chief executive officer Mark Cloutier

“We are grateful to the Ryan Specialty team for their trust and confidence and for the opportunity to bring this creative solution to bear, and in doing so, further build on our strong trading relationship. We believe that this agreement is a blueprint for creative capital deployment, exemplifying our purpose to bring clarity from complexity.”

Pat Ryan, founder, chairman & CEO, Ryan Specialty, added: “We’re excited about our substantially broadened delegated authority relationship with Aspen. Moreover, we are appreciative of their confidence in our underwriting capabilities and of their commitment to progressive solutions.” 

Bruce Eisler, CEO US, and chief underwriting officer, Aspen Insurance, commented: “In conjunction with Ryan Specialty, we contemplated the existing structure of each binder and had to develop a creative solution relative to capital deployment through our US/UK companies and Lloyd’s Syndicate 4711 to bring this to fruition. The trading partnership is a great testament to our technical underwriting capabilities and strong collaboration across our global platforms and products.” 

Ryan Specialty international underwriting business wrote $2 billion of premium in 2020. It now has syndicated support from Aspen across nine of its MGUs.

Aspen, Ryan, Specialty, underwriting, insurance, capabilities, partnership, reinsurance, Europe

Bermuda Re