Aspen hire Chris Coleman from SiriusPoint as Group CFO

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Aspen Insurance Holdings Limited, the Bermuda headquartered insurance and reinsurance underwriter, has announced the hiring of Chris Coleman from SiriusPoint as its new Group Chief Executive Officer (CFO), a move that brings additional capital markets expertise to the company’s senior bench.

christopher-coleman-aspen-cfoChris Coleman gained specific capital markets reinsurance experience in his time at hedge fund backed Third Point Re, where he worked as a Chief Accounting Officer and then the firm’s Chief Financial Officer, roles that saw him working on the strategy of its catastrophe investment fund.

After Third Point Re merged with Sirius Group, to form the new company SiriusPoint, Coleman was supposed to be destined for a new senior role at the firm. But it seems a more suitable opportunity has been found with rival Aspen.

Aspen said today that current Group CFO Kevin Chidwick will retire at the end of the year and so it has hired Christopher (Chris) Coleman, who will take on the Group CFO role from October 19th.

Coleman will be based in Bermuda and will join the Aspen Executive Committee.

Coleman has gained strong transaction and capital markets experience, through acquisitions and also Third Point Re’s IPO, plus other merger, debt and equity transactions during his career.

Previously, he served as CFO of Alterra Bermuda Limited, was Chief Accounting Officer for Harbor Point Limited and held a senior audit manager role with PwC.

Coleman commented on his new position, “I am excited to be joining Aspen at such a key time in its turnaround journey. Aspen has taken a number of actions to date that have begun to take shape and I’m looking forward to working with the team to build on this momentum.

“I look forward to bringing my knowledge and experience to make a positive impact on the culture and to help drive improvement in the underlying results of the business.”

Mark Cloutier, Executive Chairman and Group Chief Executive Officer, added “As we continue to accelerate into the next phase of our transformation, Chris’ track-record of helping to drive strong financial outcomes in high- performing insurance businesses will be a valuable addition to our Group executive leadership team. Chris will partner with each member of the Group Executive Committee, including Mark Pickering, our Group Chief Capital Management Officer and Treasurer, who will continue to successfully lead our capital management strategy and corporate finance initiatives.

“During his time at Aspen, Kevin has played an important role in helping return the business to profitability, despite a challenging market environment. With the Group now in a position to look towards its longer-term strategic objectives, we respect Kevin’s own time horizon and decision to retire. In Chris we have identified the ideal successor, and I am pleased that we have been able to deliver a smooth transition period. On behalf of the Board, I would like to thank Kevin and wish him well in his retirement.”

Aspen’s strategy with third-party capital is to bring investors into almost every line of business the company underwrites, which means there is significant opportunity for capital markets and institutional structuring of bespoke vehicles to help investors access risk written by the company.

Coleman’s broad capital market experience will help to drive a culture of institutional excellence from the top and his expertise will be valuable to Aspen’s growing ventures in insurance-linked securities (ILS).

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