ASPEN BEEFS UP BERMUDA PROPERTY REINSURANCE OPERATIONS

Bermuda-based p/c insurer and reinsurer Aspen Insurance Holdings plans to boost the capital of its locally-based Aspen Insurance Ltd subsidiary by $200m to support the expansion of the unit's property reinsurance underwriting activities. The group said that the expansion would be aimed at its existing client base in the US and Japan, and was part of its strategy to build a balanced platform spanning the US, London and Bermuda markets. James Few, head of Aspen's property underwriting operations, has been named chief underwriting officer of the Bermuda subsidiary. Senior property underwriters Kate Vacher, Piers Vacher and Stefan Long join Mr Few in Bermuda. In addition, Aspen said that its London-based property reinsurance operations will focus on serving the UK, European and Canadian markets.