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Member, Beacon International Group, Ltd.
Aspen Insurance Holdings Ltd. on Wednesday said it has named Bob Rheel to the newly created role of president of its Aspen U.S. Insurance unit, effective Aug. 1.
Based in New York, Mr. Rheel currently serves as head of U.S. property/casualty insurance and programs for Aspen U.S. Insurance.
Mr. Rheel will report to Aspen Insurance CEO Mario Vitale, the company said in a statement.
Hamilton, Bermuda-based Aspen Insurance Holdings has also named Atlanta-based Cliff Hope as head of U.S. property/casualty insurance, effective Aug. 1, in addition to his current role as executive vice president and chief property insurance underwriter. He will take over from Mr. Rheel, a spokesman for Aspen Insurance said Wednesday.
“Bob has played a pivotal role in the build-out of our U.S. platform, and I am delighted that he has agreed to head up our U.S. insurance business,” Chris O'Kane, Aspen's group CEO, said in a statement. “He is a proven leader, and his considerable industry experience and expertise will be invaluable as we take the business forward to the next stage of its continued profitable growth.”
Aspen Insurance Holdings Ltd. reported fourth-quarter net income of $67.2 million, down 25.3% from the same period last year on higher expenses related to incentive compensation and severance payments.