Aspen Insurance Holdings Limited, the Bermuda headquartered insurance and reinsurance group, has made a key hire for its mortgage re/insurance business, taking Arch Capital’s Andrew Rippert as EVP and Head of Mortgage.
Rippert will join Aspen from June 7th 2021 and will report to Christian Dunleavy, Chief Underwriting Officer Aspen Reinsurance and also become a member of the Reinsurance Executive Committee.
In his time at Arch Capital, Rippert had driven forward the development of the companies mortgage insurance-linked securities (ILS) program, which has become a key capital markets backed source of reinsurance to support that firms expansive mortgage insurance underwriting.
He has more than 20 years’ of experience in shaping and building global mortgage insurance and reinsurance businesses and portfolios, having led Arch’s mortgage credit business to become pre-eminent in the market.
The Bellemeade Re mortgage ILS program was a critical factor in that, delivering efficient access to institutional capital that helped in providing reinsurance, but also expanding capacity available to Arch for mortgage risk underwriting.
During his time at Arch Rippert had said that the mortgage ILS issuance program was “a critical part of running a sustainable mortgage guaranty business,” providing the company with important reinsurance protection and also flexibility in managing its portfolio and an enhanced ability to manage regulatory capital.
Aspen said that the arrival of Rippert coincides with the firms continued focus on strategic and profitable growth opportunities, of which mortgage could be a considerable one.
Rippert commented on his hire, “I am excited to join Aspen and work with Christian and the wider underwriting team. I look forward to using my experience, industry knowledge and network to further develop Aspen’s capabilities in the mortgage sector.”
Dunleavy added, “I’m delighted to have Andrew join the team as we continue to focus on areas where expert underwriting and specific product expertise can deliver real value to our clients. Andrew’s market reputation and extensive experience in mortgage and credit risk across insurance and reinsurance products will help us continue to deliver clarity from complexity to our clients. I look forward to working together to enhance our product offering and client solutions.”