Aspen names Co-chief executive to replace Cavoores

Aspen has appointed Mario Vitale as co-chief executive of Aspen Insurance to replace the departing John Cavoores in January.

Vitale will work jointly with fellow co-chief executive Rupert Villers. Cavoores will remain as a director of Aspen.

Vitale’s new role is in addition to his current responsibility as president of Aspen US Insurance.

Chief executive Chris O’Kane, said: “I would like to thank John for his very considerable achievements since taking on an executive role at Aspen as co-chief executive of Aspen Insurance in October last year.

“He has strengthened our US insurance operations in particular and provided a firm foundation from which to build our presence in the US market.

“He has also made a significant contribution to the company’s overall development both as a director since October 2006 and during his executive tenure. I am very pleased that John will remain as a director on the Aspen board and I look forward to his continued contribution.”

He added: “Mario has made significant progress in executing our US 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.”