Aspen Insurance has formed a specialty marine, energy and construction unit within its US business, which will underwrite various onshore energy and construction sector businesses.
Based in the US, the new operation will focus on property covers of marine, energy and construction companies and will distribute its products mainly through a limited number of retail and wholesale brokers.
Launch of the new unit complements Aspen's existing London-based operations in the same area and its US Insurance's existing marine business will be integrated with this newly formed operation.
This unit, which will be managed by executive vice president Anthony Carroll, includes an integrated team of underwriters, engineers, and claims professionals concentrated on offering creative risk management based services.
With 28 years of insurance experience, Carroll will report to Mario Vitale, CEO, Aspen Insurance and prior to this, he worked with Liberty International Underwriters serving the company for 11 years in various management roles.
Before joining Liberty, Carroll held various senior positions with Starr Technical Risks Agency and Cigna.
Commenting on the unit, Vitale said, "The global energy landscape is growing and evolving, and we are pleased to be in a position to help energy clients and brokers meet the demands of their business including their construction protection needs."
Aspen US Insurance writes property, casualty and specialty insurance in the US on both surplus lines and admitted basis through Aspen Specialty Insurance and Aspen American Insurance.
The firm offers reinsurance and insurance coverage to clients through wholly-owned subsidiaries and offices in Bermuda, France, Germany, Ireland, Singapore, Switzerland, the UK and the US.
For the year ended 31 December 2012, Aspen had $10.3bn in total assets, $4.8bn in gross reserves, $3.5bn in shareholders' equity, and $2.6bn in gross written premiums.
