Starr Companies and Aspen Insurance launch joint underwriting initiative

Starr Companies and Aspen Insurance, the insurance segment of Aspen Insurance Holdings Limited, announced on April 17 that they have signed a memorandum of understanding to enter into a joint underwriting initiative to write international property insurance with a strong focus on European-headquartered industrial companies.

To be known as Aspen Starr Property, the initiative will write business under the licenses of Aspen Insurance and will be led by Béat Bertschi, who will report to Heinz Eggenberger, general manager for Aspen Insurance in Switzerland. Bertschi has more than 29 years of international corporate property insurance and reinsurance experience gained through senior roles he has held with Zurich Insurance, Swiss Re and Infrassure.

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

Mario Vitale, CEO of Aspen Insurance, said: “This is an exciting new venture through which Aspen and Starr Companies will be able to use their extensive underwriting and engineering expertise to serve the insurance needs of European industrial companies with international operations. The initiative will draw on the considerable experience and technical expertise of two strong partners who have a good understanding of complex global risks.”