Aspen Insurance Holding Limited, the specialty insurance and reinsurance underwriter, is aligning its outwards reinsurance operations with its third-party capital unit Aspen Capital Markets, in a renamed unit Aspen Capital Partners, and has hired Laurie Shane as Group Head of Outwards Reinsurance.
Shane joins Aspen from Markel, where she managed global ceded reinsurance for the company. She will join Aspen from June 1st and report to Brian Tobben, CEO Aspen Capital Partners.
At Markel, Shane developed the firms outward reinsurance strategy, with a specific focus on reducing group earnings volatility, enhancing balance sheet protection and managing third party credit risk.
Brian Tobben commented on the hire, “We are excited to have Laurie join the Aspen team. Laurie brings a wealth of experience and is held in high regard in the market. I am looking forward to working with her, our brokers and our reinsurers as we continue to transform our outwards reinsurance program.”
Shane added, “It is tremendously exciting to be joining Aspen at this unique time in its journey and I look forward to helping build an outwards reinsurance programme that moves from strong to powerful.”
Aspen has also announced that it is aligning the work of its Outwards Reinsurance team with the Aspen Capital Markets team, all under the leadership of Brian Tobben.
The new team will now be known as Aspen Capital Partners, the company explained.
Tobben commented, “Bringing outwards reinsurance together with Aspen Capital Markets will help us deliver on our growth strategy while increasing collaboration and optimising our capital position. The combined team will capture efficiencies from overlapping process and benefit from leveraged expertise.”
Bringing together its reinsurance buying operations with its third-party reinsurance capital and insurance-linked securities (ILS) operations makes sense for Aspen, enabling it to realise synergies when it comes to alternative capital markets and make the most of capital efficiencies this can provide.
Shane joins Aspen with a wealth of reinsurance buying experience, having managed ceded reinsurance for Markel, prior to which she served as Vice President, Corporate Insurance, at QBE for the Americas region, setting up its Corporate Insurance Department.
Shane has also held senior roles at Delos Insurance Group, as Senior Vice President, Capital Management and Reinsurance, and Praetorian Financial Group / Clarendon, as Vice President, Reinsurance Placements and Operations.