Aspen To Develop London-Based Aviation Market

Bermuda-based Aspen Insurance Holdings Limited announced that it intends to further expand its London market insurance portfolio by recruiting a new team to develop an aviation insurance account from 2005.

Aspen Insurance UK Limited, a wholly owned subsidiary, will expand its insurance underwriting under the leadership of Nick Bonnar, who is responsible for Aspen’s London Market Specialty lines. Aspen’s aviation team will join the recently recruited marine underwriting team, headed by liability specialist John Henderson.

Chief Executive, Chris O’Kane commented: “The move into aviation insurance is part of our strategy to grow our insurance business in complex technical lines and help balance our overall portfolio. Because of its excellent broker distribution network and strong infrastructure, London is the global center for large-risk aviation insurance. We are recruiting a team with a strong underwriting track record and a reputation for excellent levels of service that will match Aspen’s philosophy.”