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Aspen Insurance Holdings Ltd. announced Wednesday that David Schick has been appointed group chief operating officer, effective Dec. 18.
Mr. Schick, who will be based in London, was previously executive vice president of group strategy and transformation and director of strategic operational excellence for Malayan Banking Bhd. (Maybank) in Kuala Lumpur. He replaces Richard Thornton, who is leaving the business after almost four years at Aspen, the Hamilton, Bermuda-based insurer and reinsurer said in a statement.
“David brings with him a wealth of business and strategic leadership as well as extensive experience of large change and transformation programs internationally,” group CEO Chris O’Kane said in the statement. “I would like to thank Richard for the contribution he has made to the business during his time with us and to wish him every success in the future.”
Silverton Re, a Bermuda-domiciled special-purpose insurer, has been renewed with $130 million of capital raised to write a quota share of Aspen Reinsurance’s property catastrophe portfolio for 2017, Aspen Insurance Holdings Ltd. said Monday.