Aspen targets Europe with new initiative

Bermuda-based Aspen Insurance has partnered with Starr Companies in a joint underwriting initiative aimed at European-headquartered industrial companies.

The initiative, branded Aspen Starr Property, will write international property insurance. Business will be written under the licenses of Aspen Insurance.

Béat Bertschi, who joins from Infrassure, will lead the initiative and will report to Heinz Eggenberger, general manager for Aspen Insurance in Switzerland. Bertschi has previously held senior roles at Zurich Insurance and Swiss Re.

Mario Vitale, chief executive officer (CEO) of Aspen Insurance, said: “This is an exciting new venture through which Aspen and Starr Companies will be able to use their extensive underwriting and engineering expertise to serve the insurance needs of European industrial companies with international operations.

“The initiative will draw on the considerable experience and technical expertise of two strong partners who have a good understanding of complex global risks.”

Maurice Greenberg, CEO of the Starr Companies, added: “Starr and Aspen together have substantial experience working with European insurance buyers and the market environment. This joint initiative will serve the partners well.”