Aspen, Starr Companies Joint Underwriting MOU
Aspen Insurance and Starr Companies have signed a memorandum of understanding under which both parties will enter into a joint underwriting initiative to write international property insurance, with a strong focus on Europeanheadquartered industrial companies.
The initiative will be branded Aspen Starr Property and write business under the licenses of Aspen Insurance. Béat Bertschi has been hired to lead the venture and will report to Heinz Eggenberger, General Manager for Aspen Insurance in Switzerland.
Béat brings 29 years of international corporate property insurance and reinsurance experience gained through senior roles he has held with Zurich Insurance, Swiss Re and most recently, Infrassure.
Mario Vitale, Chief Executive Officer of Aspen Insurance, said: “This is an exciting new venture through which Aspen and Starr Companies will be able to use their extensive underwriting and engineering expertise to serve the insurance needs of European industrial companies with international operations. The initiative will draw on the considerable experience and technical expertise of two strong partners who have a good understanding of complex global risks.”
Maurice R. Greenberg, Chief Executive Officer of the Starr Companies, added: “Starr and Aspen together have substantial experience working with European insurance buyers and the market environment. This joint initiative will serve the partners well.”
