Aspen names Michael Cain group COO; UK unit terminates ARML agency agreement
Aspen Insurance Holdings named Michael Cain Group Chief Operating Officer effective May 14, 2019, succeeding David Schick, who left the company that day. The company also said Aspen Insurance UK has served notice to terminate its agency agreement with Aspen Risk Management, and that the business will be placed into runoff, which Aspen says has no impact on its mainstream UK Property and Casualty business.
- Michael (Mike) Cain appointed Group Chief Operating Officer effective May 14, 2019; he will remain CEO of Aspen UK for a transition period, subject to regulatory approval
- David Schick, former Group Chief Operating Officer, and Kate Vacher, former CEO of Aspen Bermuda, left the company effective May 14, 2019
- Aspen Insurance UK served notice to terminate its agency agreement with Aspen Risk Management Limited; the business will be placed into runoff
- The filing says the Dublin office closure process has begun, tied to the proposed move of Dublin Excess Casualty underwriting to London