Bermudian insurer and reinsurer Aspen Insurance Holdings Limited has announced that Chairman of Aspen Re and Chief Executive Officer (CEO) of Aspen Re, Americas, Brian Boornazian, is to retire from the company, effective end of April, 2018.
The company has revealed that Boornazian’s role as Chairman of its global reinsurance operation and CEO of its Aspen Re, Americas unit will not be replaced. Adding that Emil Issavi will continue to lead the firm’s reinsurance operation in the Americas in his capacity as President and Chief Underwriting Officer (CUO) of Aspen Re.
Boornazian commented on his departure: “I am immensely proud of what we have achieved during my time at Aspen and to see our reinsurance segment develop into the outstanding business that it is today. I would like to thank my colleagues and friends within Aspen for their huge support over many years and to wish them much success in the future.”
Boornazian was named Chairman of Aspen Re and CEO of Aspen Re, North America in 2012, before being appointed CEO of Aspen Re, Americas, in May 2017.
Aspen Re CEO, Thomas Lillelund said: “I would like to add my thanks to Brian for his valuable advice and wise counsel as we worked together closely to grow our reinsurance business over the last few years.”
While Chris O’Kane, Aspen Group CEO, added: “I would like to thank Brian for his outstanding service to Aspen over the last 14 years. Under his leadership and with his sharp focus on execution, we have grown our reinsurance business significantly and enhanced our highly-respected position in our chosen markets. He has also made a significant contribution to our executive management capabilities and I know that I speak for everyone at Aspen in wishing him every success in the future.
“We have an outstanding team at Aspen Re under the leadership of Thomas Lillelund and Emil Issavi and are well positioned to sustain the long-standing success of the business moving forward.”
