Zurich Financial alumnus Mario Vitale took a spot on Aspen U.S. Insurance’s leaderboard as president last week, bearing battle scars of past cycles that give Aspen an edge as it positions for a turn, the group’s chief executive said.
John Cavoores, co-CEO of the insurance division of Bermuda-based Aspen Insurance Holdings Limited known as Aspen U.S. Insurance, said Mr. Vitale has “been through a number of market cycles” in 34 years in the business. “He has made profits through those cycles, and that’s exactly the kind of guidance we need to give our team in the United States as they develop their plans going forward,” Mr. Cavoores said.
Mr. Cavoores, who like Mr. Vitale has more than 30 years under his belt with prior stints at OneBeacon, American International Group and Chubb, spoke to NU’s Specialty Markets Insights a day after Aspen announced Mr. Vitale’s hiring and a day before a new team of surety experts came on board—describing the historical changes in the E&S/specialty business written at Aspen U.S. and the vision for the future.
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