NU Online News Service, Oct. 14, 2:54 p.m. EST
Aspen Insurance Holdings Ltd. has named Mario Vitale, currently president of Aspen U.S. Insurance, as the company' s co-chief executive officer.
Vitale will work with Rupert Villers in the shared CEO role at Aspen U.S., says the Bermuda-based parent company of its insurance division, in a statement.
Current co-CEO John Cavoores is stepping down from the role Jan. 1, 2012—the effective date of Vitale's promotion, Aspen says.
Cavoores will remain a director—a position he has held since 2006. He was named co-CEO in October last year.
Vitale joined Aspen Insurance in March 2011 from Zurich Financial Services, where he was CEO, global corporate.
Chris O'Kane, CEO of the Aspen Insurance Holdings, says Cavoores "strengthened our U.S. insurance operations in particular and provided a firm foundation from which to build our presence in the U.S. market."
Vitale has "made significant progress in executing our U.S. insurance strategy since joining the company earlier this year, and he will make a strong contribution to the continued evolution of our insurance franchise working with Rupert Villers," O'Kane added.
Prior to Zurich, Vitale spent six years at Willis Group Holdings, including four as CEO of Willis North America.
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