Aspen appoints Worth to Group CFO
Bermuda-based Aspen Insurance Holdings announced the appointment of John Worth to Group Chief Financial Officer of the company, effective November 1.Mr Worth previously served as Group Financial Controller of Barclays PLC. He will be based in London, reporting directly to Chris O’Kane, Aspen’s CEO, and join Aspen’s Group Executive Committee.Mr Worth succeeds Julian Cusack, interim Aspen Group Chief Financial Officer, who will resume his role as Chief Risk Officer of Aspen.Stephen Postlewhite, who was serving as Acting Group Chief Risk Officer, will similarly resume his previous role as Head of Risk.Mr Worth’s appointment remains subject to relevant regulatory approval.“I am very pleased to welcome John as Group Chief Financial Officer of Aspen,” said Mr O’Kane.“He is an accomplished financial executive with over 25 years of experience in financial services and accounting.“John will be a valuable addition to Aspen and brings significant expertise in banking and capital markets, risk management and a broad understanding of insurance markets, as well as experience in managing global teams and strong familiarity with regulatory and reporting standards.“I look forward to working closely with John as we continue to build on Aspen’s diversified business approach and position the Company to capitalise on an improving rating environment in the commercial P&C markets.”Before joining Barclays, between 2006 and 2009, Mr Worth was a Partner in Banking and Capital Markets for Ernst & Young.From 2002 to 2006 he served in various leadership roles at Prudential UK, including Chief Information Officer and Head of Risk and Compliance as well being seconded to the UK’s Financial Services Authority.He previously worked at Barclays Capital from 1997 to 2002, serving as Program Director, Group Controls Review and prior to that Managing Director and Global Head of Audit.He started his career at Price Waterhouse, where he served in a number of global roles from 1984 to 1997.Aspen provides reinsurance and insurance coverage to clients in various domestic and global markets through wholly-owned subsidiaries and offices in Bermuda, France, Germany, Ireland, Singapore, Switzerland, the United Kingdom and the United States.For the year ended December 31, 2011, Aspen reported $9.5 billion in total assets, $4.5 billion in gross reserves, $3.2 billion in shareholders’ equity and $2.2 billion in gross written premiums.