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Aspen to underwrite professional liability


HAMILTON, Bermuda--Aspen Insurance Holdings Ltd. will begin writing professional liability risks effective September 2007.

Hamilton, Bermuda-based Aspen will underwrite the new business--which will consist mainly of indemnity-based coverage for professional firms--through the company's U.K. offices.

Aspen plans to specifically target midsize to large clients in the United Kingdom and Australia, and expects to write $100 million of gross written premiums within three years, according to a company statement.

Nick Evans has been tapped to lead the new unit.

"We were attracted to Nick by his strong market reputation and his thoughtful risk management-led approach to underwriting, which will fit extremely well with Aspen's underwriting philosophy and accords with the diversification strategy we have pursued since the inception of our Company," said Aspen Chief Executive Officer Chris O' Kane in the statement.