Aspen on hunt for new UK chief as Milner sails to lead Chaucer
The current CEO of Aspen Insurance Holdings UK is set to depart the company to take on the role of group CEO at global specialty re/insurer Chaucer.
Richard Milner (pictured left), subject to local regulatory approval, will join Chaucer as its new group chief executive officer. He will be responsible for the general oversight, management, and strategic development of the business which includes composite Syndicate 1084, specialty nuclear Syndicate 1176, and Chaucer's insurance company in Dublin.
Milner has held several executive roles at Aspen and Axis Re, most recently as CEO of Aspen UK. Sarah Stanford (pictured right), the active underwriter of Aspen's Lloyd's syndicate 4711, will replace Milner in this role on an interim basis while the company conducts a search for a permanent replacement.
Paul Jardine, chairman of Chaucer Group, said: "I am delighted Richard has accepted the role and I look forward to working with him. Over the course of his career Richard has distinguished himself as an exceptional leader, earning the respect of his peers and across the industry. I am confident that we will all benefit from his tremendous leadership skills, strong underwriting background, and deep understanding of international markets as we continue our development as a leading global underwriting group.”
He Chunlei, chairman of Chaucer owner China Re Group, added: “Chaucer is in a prime position for further growth and success. Together with the leadership team and Chaucer’s deep bench of underwriting, risk and claims expertise, Richard will be immensely valuable in leading Chaucer into a bright future.”
Milner commented: "I am delighted to be appointed Group CEO of Chaucer. Chaucer’s reputation, which is built on the experience and expertise of its talented people, innovation and a disciplined approach to risk management, makes it a natural next step for me. I am excited about the opportunities ahead and the chance to be part of something special.”
Milner became UK CEO of Aspen in 2020 and was previously CEO at Vibe Re. Prior to that, he was at Axis Capital for more than 12 years, ending up as UK chief underwriting officer for Axis Re after holding other roles in London and Bermuda.
Aspen's Lloyd’s Syndicate 4711 represents approximately 75% of Aspen’s UK business. Under Stanford's leadership, Aspen said the syndicate has seen substantial progress, reporting significant growth to £838.6 million in GWP and delivering a 75.4% COR in 2022, while becoming one of Lloyd’s best performing Syndicates of the year.
Mark Cloutier, executive chairman and group CEO, said: “I am pleased that Sarah is stepping in as interim UK CEO. As Active Underwriter of Syndicate 4711, Aspen’s core platform in the UK, she brings an impressive track record and credentials in the form of a robust performance, innovative progress, and a solid market reputation for the Syndicate.”
“Sarah’s interim appointment into the role showcases the depth of talent we have within our team at Aspen and the strength of our succession planning.
“I would like to thank Richard Milner for his many contributions to Aspen over the past four years and wish him well in his future endeavours.”
Did you get value from this story? Sign up to our free daily newsletters and get stories like this sent straight to your inbox.
