Starr Companies and Aspen Insurance, the insurance segment ofAspen Insurance Holdings Limited, announced on April 17 that theyhave signed a memorandum of understanding to enter into a jointunderwriting initiative to write international property insurancewith a strong focus on European-headquartered industrialcompanies.

To be known as Aspen Starr Property, the initiative will writebusiness under the licenses of Aspen Insurance and will be led byBéat Bertschi, who will report to Heinz Eggenberger, generalmanager for Aspen Insurance in Switzerland. Bertschi has more than29 years of international corporate property insurance andreinsurance experience gained through senior roles he has held withZurich Insurance, Swiss Re and Infrassure.

Maurice R. Greenberg, CEO of the Starr Companies, added, “Starrand Aspen together have substantial experience working withEuropean insurance buyers and the market environment. This jointinitiative will serve the partners well.”

Mario Vitale, CEO of Aspen Insurance, said: “This is an excitingnew venture through which Aspen and Starr Companies will be able touse their extensive underwriting and engineering expertise to servethe insurance needs of European industrial companies withinternational operations. The initiative will draw on theconsiderable experience and technical expertise of two strongpartners who have a good understanding of complex globalrisks.”