Aspen Insurance Holdings has announced that its reinsurance segment, Aspen Re, has opened a new hub for the Middle East and Africa (MEA) in Dubai.
The company said that the establishment of a reinsurance hub in Dubai is consistent with its strategy of maximising opportunities in markets with profitable growth potential.
In addition, three senior underwriting managers have been appointed and will report to Abdallah Balbeisi, senior executive officer – head of Middle East and Africa.
Peter Thompson has more than 30 years’ experience in the industry and joins Aspen Re from Generali. Thompson specialises in complex property risks with a focus on risk management and innovative structured solutions.
Houcine Zouaoui joins Aspen Re from Gulf Re, where he was senior underwriter. He specialises in underwriting and managing a treaty portfolio across the Middle East and North Africa.
Attilio Tornetta specialises in underwriting and developing a facultative and treaty portfolio across Sub-Saharan Africa. He joins Aspen Re from Swiss Re and has previously worked as a site engineer before moving into the reinsurance industry with a focus on complex engineering risks.
Aspen was granted a license from the Dubai Financial Services Authority to operate in December 2015.
Stephen Postlewhite, chief executive officer, Aspen Re, said: “We are delighted to have opened a reinsurance hub in Dubai. Aspen Re’s strategy is to enhance growth in regional areas and to build on our ability to identify and respond swiftly to emerging opportunities.
“We operate across a wide range of geographies and lines and this new hub will allow us to ensure that we remain close to our clients and continue to understand their needs. The Middle East and Africa region offer significant opportunities for profitable growth and we look forward to serving our clients in Dubai and beyond.”
Postlewhite added: “Peter, Houcine and Attilio have extensive experience working in the region and we are pleased that they are joining Aspen Re at this exciting time as we build our presence from Dubai.”
Aspen Re, Reinsurance, Appointment, Peter Thompson, Houcine Zouaoui, Attilio Tornetta, Stephen Postlewhite, Bermuda, Dubai, MEA