The reinsurance segment of Aspen Insurance Holdings Ltd. says it has formed a new division, Aspen Capital Markets.
Aspen Reinsurance is establishing the new division, based in New York and led by Brian Tobben, to expand its participation in the alternative reinsurance market.
"Our decision to establish a capital markets division recognizes developments in the reinsurance market over recent years, as the influence of the capital markets on the catastrophe segment has steadily increased," says James Few, CEO of Aspen Re.
Few says Aspen Capital's focus "will be to develop alternative reinsurance structures to leverage our existing underwriting franchise, increase our operational flexibility in the capital markets and provide investors direct access to our underwriting expertise."
Tobben joined Aspen on April 8, having previously been with PartnerRe for about 10 years. He was most recently Head of Insurance-Linked Securities, where he managed a portfolio of catastrophe ILS, life ILS, weather and commodity investments. Prior to that, Tobben was Vice President, Weather for PartnerRe.
Before PartnerRe, Tobben was at Aquila, where he held a number of roles including Vice President, Business Development, Weather.
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