Aspen Opens New Reinsurance Hub In Dubai

April 11, 2016

Bermuda-based Aspen Insurance Holdings Limited announced today [April 11] that its reinsurance segment has opened a new hub for the Middle East and Africa in Dubai.

The establishment of a reinsurance hub in Dubai is consistent with Aspen Re’s strategy of maximizing opportunities in markets with profitable growth potential, the company said.

Stephen Postlewhite, Chief Executive Officer, Aspen Re, said: “We are delighted to have opened a reinsurance hub in Dubai. Aspen Re’s strategy is to enhance growth in regional areas and to build on our ability to identify and respond swiftly to emerging opportunities.

“We operate across a wide range of geographies and lines and this new hub will allow us to ensure that we remain close to our clients and continue to understand their needs. The Middle East and Africa region offer significant opportunities for profitable growth and we look forward to serving our clients in Dubai and beyond.”

In addition, three Senior Underwriting Managers have been appointed and will report to Abdallah Balbeisi, Senior Executive Officer – Head of Middle East and Africa.

Peter Thompson has more than 30 years’ experience in the industry and joins Aspen Re from Assicurazioni Generali. Peter specializes in complex property risks with a focus on risk management and innovative structured solutions.

Houcine Zouaoui joins Aspen Re from Gulf Re, where he was Senior Underwriter. He specializes in underwriting and managing a treaty portfolio across the Middle East and North Africa.

Attilio Tornetta specializes in underwriting and developing a facultative and treaty portfolio across Sub-Saharan Africa. He joins Aspen Re from Swiss Re and has previously worked as a site engineer before moving into the reinsurance industry with a focus on complex engineering risks.

Mr Postlewhite commented: “Peter, Houcine and Attilio have extensive experience working in the region and we are pleased that they are joining Aspen Re at this exciting time as we build our presence from Dubai.”

Aspen was granted a license from the Dubai Financial Services Authority to operate in December 2015.

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