Brit executive to take reins as Aspen CEO

Mark Cloutier is to become the new chairman and chief executive officer (CEO) of Aspen.

Cloutier is to step down from his role as executive chairman of Brit in December 2018. He will then take up a role with an affiliate of Apollo Global Management working as a consultant with an immediate focus on the previously announced proposed acquisition of Aspen Insurance Holdings by investment funds managed by affiliates of Apollo Global Management, eventually assuming the role of chairman and CEO of Aspen following completion of the transaction.

Cloutier was appointed Brit CEO in 2011, and became executive chairman in January 2017. According to Brit as its CEO he was instrumental in the transformation of Brit into a leading Lloyd’s insurer.

“Mark has played a pivotal role in Brit’s recent history, driving the establishment of Brit as a top-quartile Lloyd’s insurer and leading the business through its return to the public markets and subsequent acquisition by Fairfax,” said Matthew Wilson, CEO of Brit.

“The high esteem with which Mark is held across the business is testament to what he has achieved at the highest levels in our industry.  Both on behalf of the board and personally, I would like to thank Mark for his leadership, wise counsel and most importantly, friendship and wish him the very best in the next stage of his career.”

“Being part of the Brit story has been an exciting and rewarding experience, I am proud of what we achieved and can leave knowing I leave an outstanding team and market leading business under Matthew’s very capable leadership,” said Cloutier.

“The combination of Brit’s many strengths with the resources, support and values of the Fairfax group puts the company in a terrific position to grow and succeed well into the future.”