Aspen Re, the reinsurance arm of Bermudian insurer and reinsurer Aspen Insurance Holdings Limited, is to close its offices in Miami, Dubai and Lloyd’s China.
The Bermudian re/insurer has confirmed a restructure of some of its operations, resulting in the closure of its Dubai and Lloyd’s China reinsurance offices, as well as its insurance and reinsurance offices in Miami.
Specifically, Aspen Re’s Latin American reinsurance treaties that are currently underwritten in Miami will be transferred to Rocky Hill, Connecticut, and Bermuda.
The reinsurer’s Middle East and African reinsurance treaty renewals previously underwritten in Dubai are to be transferred to the firm’s Zurich office, which is set to be Aspen Re’s hub for Europe, Middle East and Africa.
At the same time, business that is currently underwritten via the firm’s Lloyd’s China platform will be transferred to Aspen Re’s Singapore office. While crisis management insurance business that is handled in Miami will be transferred to the re/insurer’s London team.
Aspen has confirmed all of the above but has declined to comment any further.