Gracechurch Report Names Dipak Kapur Leading Underwriter in Energy

Dipak Kapur, Aspen Insurance Senior Underwriter, Upstream Energy, is based in our London office and has been with Aspen since 2014. Last month he was named a Leading Underwriter in Energy in the Gracechurch 2025 edition of London’s Leading Underwriters. We sat down with Dipak to learn more about his career in insurance, what it means to be recognized as a top performer by your peers, the hard and soft skills you need to be successful underwriter, and more.

Give us a snapshot of your career to date.
I began my career in Insurance in 2005, through a yearlong placement/internship as part of my undergraduate degree course, working in Financial Planning for a Marine and Energy reinsurance unit that is now part of Swiss Re. After returning to university and taking a year off to teach at a rural village in Tanzania, I joined Hiscox to work in Operations and then went to Allianz, where I was promoted to an Underwriting role in Upstream Energy. Prior to joining Aspen in 2014, I worked at Chaucer in their Upstream Energy department in Underwriting.

What are your current responsibilities at Aspen?
I am a Senior Underwriter for Aspen’s Upstream Energy team that is part of our Natural Resources Division. In this role, I am responsible for underwriting primarily offshore risks, both operational and construction, for oil and gas operators, drilling contractors and offshore renewable energy projects. I typically sit three days a week at Aspen’s “box” at the world-famous Lloyd’s of London trading floor to receive brokers and discuss business.

What does it mean to be named in the 2025 Gracechurch Report of London’s Leading Underwriters?
It’s been a real honor to be named a Leading Underwriter in Energy in the Gracechurch Report by my underwriting peer group and market brokers. My long-term ambition has been to develop as an underwriting specialist in my chosen line of business. To achieve this recognition makes me feel very proud to be a part of the Aspen team.

What attracted you to Aspen?
The quality and reputation of our Specialty division in the London Market.

Why is insurance a great industry to have a career?
I could go on about this industry all day…but I love that it remains face-to-face and is built upon the relationships we have with our clients and brokers. Working in Upstream Energy also affords me a holistic view on global geopolitics, innovative technologies, shipping and trade. I enjoy negotiating and crafting a deal that works for all parties and being trusted to take these risks on behalf of Aspen.

What are some of the skills needed to have a successful career as an underwriter?
Curiosity, flexibility, integrity. I would say that integrity is one of the most important but less commonly mentioned qualities in insurance. To be fair and honest and to build a reputation for being true to your word is highly valued and is an enduring trait worth cultivating.

Particularly in the Specialty lines of business, curiosity is an invaluable skill. Understanding your client’s business needs and being able to structure an insurance solution around a risk whose features you might not have seen before is equally important. Additionally, communication is key and having the ability to ask brokers and clients the right questions so you can properly assess potential risks.

Adaptability and flexibility are also important in underwriting – both as we are moving through market cycles and navigating longer-term trends, making greater use of underwriting and pricing tools, and finding ways to incorporate new developments to aid our processes.

Have you had a formal or informal mentor?  If so, can you share your experience on how this relationship was impactful?
I have been very fortunate in my career to have worked with many talented individuals, both within and outside of underwriting roles, all of whom have had different approaches to risk taking and relationship building. I strive to incorporate positive elements of what I’ve learned from people into what I do every day, and that learning process never stops.

Any hobbies, sports, activities or volunteer work you would like to share that you participate outside of work?
Various injuries over the years have largely put an end to most sporting endeavors these days, but I try to stay fit by cycling around London and further afield for some holidays. I enjoy scuba diving and am a keen live music fan, making the most of the fantastic live scene in London, which was what brought me to the city in the first place. And, for the last nine years I have been volunteering and helping to manage a drop-in a local community center for people in need.