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Aspen Re Management Change

29th March

Aspen announced today that Brian Boornazian has decided to retire as Chairman of its reinsurance segment, Aspen Re, and as Chief Executive Officer of Aspen Re, Americas, with effect from the end of April.

Chris O’Kane, Group Chief Executive Officer, said: “I would like to thank Brian for his outstanding service to Aspen over the last 14 years. Under his leadership and with his sharp focus on execution, we have grown our reinsurance business significantly and enhanced our highly-respected position in our chosen markets. He has also made a significant contribution to our executive management capabilities and I know that I speak for everyone at Aspen in wishing him every success in the future.

“We have an outstanding team at Aspen Re under the leadership of Thomas Lillelund and Emil Issavi and are well positioned to sustain the long-standing success of the business moving forward.”

Thomas Lillelund, Chief Executive Officer of Aspen Re, added: “I would like to add my thanks to Brian for his valuable advice and wise counsel as we worked together closely to grow our reinsurance business over the last few years.”

Mr. Boornazian’s role as Chairman of Aspen Re and Chief Executive Officer of Aspen Re, Americas, will not be replaced. Emil Issavi will continue to lead Aspen’s reinsurance business in the Americas in his capacity as President and Chief Underwriting Officer of Aspen Re.

Brian Boornazian commented: “I am immensely proud of what we have achieved during my time at Aspen and to see our reinsurance segment develop into the outstanding business that it is today. I would like to thank my colleagues and friends within Aspen for their huge support over many years and to wish them much success in the future.”