Bermuda-based Aspen Re said it has opened an office in Zurich and launched Aspen Re in Europe to act as a hub for its European reinsurance activity.
The company announced the new office will be headed by Jacopo D'antonio, president and chief underwriting officer. He has been with Aspen since its inception in 2002. He joined the company from Wellington's Syndicate 2020 at Lloyd's.
The company said it anticipates that the Swiss branch will employ up to 20 people within the next two years.
The move is strategically important for the carrier because Europe is the second largest buyer of insurance in the world after the United States, Aspen Re said.
Zurich was chosen, the company explained, because it is a major financial center in Europe and a key location for many carriers, making it increasingly important to have a physical presence close to clients. The office will write all lines of property-casualty insurance.
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