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Timeline: 2002-2019

2002

  • Aspen Insurance Holdings Limited is formed.
  • Aspen's UK subsidiary, Wellington Re, starts trading as the largest independent reinsurance company based in the London market, focusing on property and casualty reinsurance and UK commercial insurance. We raise capital of £448 million at launch from an investor group led by Blackstone and Candover.
  • We increase capital to $850 million to take advantage of continuing favourable conditions in the insurance sector. We establish a Bermudian subsidiary soon after.

2003

  • Wellington Re becomes Aspen Insurance UK Limited, trading in the London market as Aspen Re and Aspen Insurance.
  • We establish Aspen Specialty in Boston, Massachusetts to expand into US excess and surplus lines business and write a focused book of property and casualty surplus lines business.
  • Shares in Aspen Insurance Holdings Limited are listed on the New York Stock Exchange.

2004

  • We set up a new property reinsurance team in Connecticut to expand the US property reinsurance underwriting business.
  • Aspen Reinsurance America is launched in Rocky Hill, Connecticut.
  • We grow the London market portfolio by establishing a marine insurance business with a new underwriting team
  • Aspen Specialty expands into Georgia and Arizona.
  • We announce our first full year results as a public company with gross written premiums for the 12 months ended 31 December 2003 at $1.3 billion.

2005

  • We form a new underwriting team to establish an aviation insurance business and further diversify our portfolio.
  • We introduce a new global brand and our London office moves into new premises.

2006

  • We form a new International Property & Direct Facultative team in London and our Bermuda office moves into new premises.
  • We establish a new team in Paris to grow our International Property Facultative team – this is our first office to open in continental Europe.
  • We appoint a US-based team of casualty treaty underwriters to complement the activities of the established US Casualty Reinsurance team in London.

2007

  • Our new major hub office opens in Zurich as part of our European expansion.
  • CATman, our proprietary risk management tool designed to help manage catastrophe exposures, wins 'Best Use of IT in Insurance'.
  • We enter the Professional Liability insurance market through Aspen Insurance UK.
  • Reactions magazine names us 'Best Global Reinsurance Company for Specialty Lines'.
  • We enter the global excess casualty insurance market and establish a dedicated underwriting unit based in Dublin.
  • We begin writing political risk insurance from London.

2008

  • We enter into the financial institutions insurance market with a focus on smaller and medium-sized institutions.
  • Aspen Re opens a branch in Singapore.
  • Lloyd's Syndicate 4711 is established.
  • Reactions magazine names us ‘Best Global Reinsurance Company for Specialty Lines’ for the second consecutive year.
  • The Australian Prudential Regulation Authority authorizes Aspen Insurance UK Limited to operate as a branch insurer to underwrite general insurance business in Australia.

2009

  • We enter the managed fund market for insurance linked securities through investment and partnership with Cartesian Iris Re, a newly formed specialized investment fund focusing on insurance-linked securities and reinsurance.
  • Aspen Insurance establishes a Bermuda-based excess casualty unit to complement our existing operation in Dublin.

2010

  • We announce a new corporate structure to manage our insurance and reinsurance businesses under two separate brands – Aspen Insurance and Aspen Re.
  • John Cavoores appointed co-Chief Executive of Aspen Insurance, sharing executive oversight of our insurance business with Rupert Villers.
  • We make a public offering of $250 million of 6% Senior Notes due 2020.

2011

  • We appoint Mario Vitale as President of our US Insurance business.
  • Our US Insurance business establishes a new surety insurance unit, a new excess casualty team and a new management liability team.
  • Aspen Risk Management becomes fully operational and begins providing UK insurance and risk management services business through a network of regional offices in the UK.

2012

  • Aspen raises $150 million of Perpetual Non-Cumulative Preference Shares.
  • Rupert Villers becomes chairman of Aspen Insurance with Mario Vitale appointed Chief Executive Officer.
  • Aspen Re announces an increased focus on regional leadership.
  • Brian Boornazian appointed Chairman of Aspen Re with James Few becoming CEO.

2013

  • Aspen Re establishes its Capital Markets division to expand our participation in the alternative reinsurance market.
  • A new specialty marine, energy and construction unit is established within our US Insurance business.
  • We make a public offering of £275 million of perpetual non-cumulative preference shares.
  • Aspen Re launches Rock Re, a new dedicated brokered property facultative unit within its US operation.

2014

  • Aspen Insurance expands its presence in Latin America with the opening of a regional hub in Miami.
  • Scott Kirk appointed Group Chief Financial Officer.

2015

  • Aspen announces plans to expand its insurance operation into Singapore on the Lloyd’s Asia platform.
  • David Cohen joins Aspen Insurance as President and Chief Underwriting Officer.
  • Aspen U.S. Insurance launches railroad business line.

2016

  • A new reinsurance hub for the Middle East and Africa opens in Dubai.
  • Aspen Risk Management Limited agrees transfer of Liberty Specialty Market’s UK regional Property and Casualty business.
  • Aspen acquires Puerto Rico-based marine insurance specialist Blue Waters Insurers, Corp.

2017

  • Aspen celebrates its 15th anniversary. The company also marks 10 years of its charitable partnership with the Adara Group
  • Aspen announces a strategic partnership with CGB Diversified Services. 
  • A comprehensive program to drive greater effectiveness and efficiency across the company is launched. 
  • David Schick is appointed Group Chief Operating Officer. 

2018

  • Emil Issavi, President and Chief Underwriting Officer of Aspen Re, is appointed to lead Aspen’s reinsurance business.
  • Aspen announces that David Cohen, President and Chief Underwriting Officer of Aspen Insurance, will lead our insurance business.
  • Aspen Insurance Holdings Limited enters into a definitive agreement to be acquired by certain investment funds affiliated with Apollo Global Management.

2019

  • In February 2019, Aspen was acquired by certain investment funds affiliated with Apollo Global Management.
  • Mark Cloutier appointed Executive Chairman and Group Chief Executive Officer.
  • Aspen's ordinary shares ceased trading on the New York Stock Exchange and the Bermuda Stock Exchange on February 15, 2019.
  • Christian Dunleavy is appointed Chief Underwriting Officer for Aspen Re, and Peter Emblin is appointed Senior Managing Director for Aspen Re.