Bermudian-based Aspen Insurance Holdings Ltd has appointed Sarah Stanford as interim CEO of Aspen UK.

She takes over from Richard Milner, who will be leaving Aspen on March 31 to become group chief executive of Chaucer Group.

The company said Ms Stanford is at present active underwriter, Lloyd’s Syndicate 4711, which represents approximately 75 per cent of Aspen’s UK business.

Under her leadership, the syndicate has seen substantial progress, reporting significant growth to £838.6 million (approximately $1.06 billion) in gross written premiums and delivering a 75.4 per cent COR (combined operating ratio) in 2022, while becoming one of Lloyd’s best-performing syndicates of the year.

In 2023, the company said, Ms Stanford led the creation of Aspen Digital, which provides additional, digital-only follow capacity, in an industry-first partnership with Ki.

Ms Stanford has more than 25 years’ experience in the industry.

She joined Aspen in 2007 and has held several senior roles, including head of international management liability and professional lines, before being appointed active underwriter of Aspen’s Lloyd’s Syndicate 4711 in 2019. Before Aspen, she worked in underwriting positions at Limit MJ Harrington Syndicate 2000/QBE.

Ms Stanford will continue to report to Mark Cloutier, executive chairman and group CEO, and to be a member of the group executive committee.

Aspen said a formal selection process is under way to confirm a permanent CEO, subject to board and regulatory approval, which will be announced in due course.

In the meantime, and in addition to her interim UK CEO responsibility, Ms Stanford will continue in her position as active underwriter.

Mr Cloutier 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.”