Aspen US Insurance, part of the insurance arm of Aspen Holdings, will open a new office in Houston to capitalise on the shale energy boom and evolving regional environmental exposures.
Mario Vitale, CEO of Aspen, said: “the shale energy boom is in full swing as US oil and gas production is soaring. The estimated $100 billion investment in the petrochemical industry creates new opportunities and risks for the insurance industry."
The new office will serve as a regional hub for Aspen.
Vitale continued: “we are proud to be in a position to help clients and brokers in the region meet the demands of their business, especially as energy and environmental risks gain complexity, and the associated need for innovative risk management grows.”
Danny Saenz, deputy commissioner of the Texas Department of Insurance, added: “we are pleased to have a well-capitalised insurer open an office in Houston with plans for growth and contributions to the state economy.”
Aspen, Aspen US Insurance, energy, Texas