Aspen’s Postlewhite receives £852K on departure
Former Aspen Insurance CEO Stephen Postlewhite has been awarded £852,256 as part of his termination package.
In January 2018 it emerged that Postlewhite was leaving the company with immediate effect.
The announcement came shortly after the Bermuda-based re/insurer revealed fourth quarter 2017 underwriting losses of around $245 million.
Postlewhite ceased to perform his duties for Aspen Insurance effective Jan. 26, 2018. Under the terms of the settlement agreement, Postlewhite’s employment with the company ended on April 30, 2018.
As part of the settlement agreement, Postlewhite will receive £85,500 for his entitlement to an annual incentive award for the year in which the termination date occurred and £766,756 as a severance payment.
Following Postlewhite’s departure, the company has appointed David Cohen as president and chief underwriting officer of Aspen Insurance, responsible for leading the day-to-day management of its insurance business, reporting to group CEO, Chris O’Kane.
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