Aspen Re names Australia, Asia-Pacific Senior Underwriters

AUSTRALIA – Aspen Re is further boosting its presence in the Asia-Pacific region by poaching two senior executives from competitors.

The reinsurance unit of Aspen announced that it has appointed Andrew Parker, who joins from Hannover Re, as head of Aspen Re’s Australian branch and as senior underwriter.

Paul Wedlock, who joins from Swiss Re Australia, has also been appointed senior underwriter within the Asia-Pacific region, Aspen Re said in a statement.

- Aspen Re is further boosting its presence in the Asia-Pacific region by poaching two senior executives from competitors.
– Aspen Re is further boosting its presence in the Asia-Pacific region by poaching two senior executives from competitors.

Parker, who was recently head of the Australian facultative branch and head of Inter Hannover Australian branch, will report to Thomas Lillelund, managing director, Asia-Pacific, in his new role.

Parker also worked for Employers Reinsurance Corporation/GE Insurance and before that, Allianz Australia Insurance and MMI Insurance Limited.

Wedlock, meanwhile, is joining from Swiss Re Australia. Paul has been at Swiss Re for over 15 years and his most recent role was head of Client Markets Property & Casualty ANZ prior to which he was head of product management – property, Asia hub.

Before Swiss Re, he worked for Munich Re Australasia and MMI General Insurance.

“Andrew and Paul’s appointments will provide us with a local presence in Australia which will be invaluable as we grow our business across the Asia-Pacific region,” said Lillelund.

Lillelund added that Parker and Wedlock will work closely with colleagues in Aspen Re’s regional office in Singapore servicing existing clients and developing new opportunities across all product lines.

“These appointments reflect not only the strength in depth we have across our reinsurance business but also the continued investment we are making in our franchise,” Lillelund said.

Earlier, Aspen Insurance Holdings Limited reported net income after tax of $128.0 million, or $1.87 diluted net income per share, for the first quarter of 2015.

Its reinsurance business also posted positive results for the quarter ended 31 March 2015.

Gross written premiums of $484.8 million, an increase of 2.7% from $472.2 million in the first quarter of 2014 with combined ratio of 76.7% compared with for 72.6% for the first quarter of 2014.

Stephen Postlewhite, CEO of Reinsurance said reinsurance had another very strong quarter.

“We grew premiums slightly while achieving an impressive accident year ex-cat loss ratio of 44.5%. The January and April renewals have been highly successful, achieved through superior client relationships, nimble underwriting, creative client solutions, and a comprehensive approach to distribution all of which make us a preferred market for our clients,” Postlewhite said. – BusinessNewsAsia.com