Aspen Insurance acquires marine insurance agency

Hamilton, Bermuda-based Aspen Insurance said Tuesday that it had acquired San Juan, Puerto Rico-based Blue Waters Insurers Corp., a specialist marine managing general agency. 

Terms of the deal were not disclosed.

Blue Waters, which has nine full-time employees, will form part of Aspen Insurance’s global marine operation and support the continued expansion of Aspen's marine business by opening access to the Puerto Rican and Caribbean markets, Aspen said in a statement.

Blue Waters’ founder and president, Eugenio M. Rosas, will continue in his role, reporting to Patrick Hickey, executive vice president and head of U.S. marine for Aspen Insurance.