Chief exec will move to part-time role in 2011 and exit once replacement is found

Aspen Insurance chief executive Rupert Villers is stepping down from his position after only nine months in the job.

Insurance Times understands that Villers will retain responsibility for Aspen’s financial institutions and professional lines in a new role. Before becoming chief executive in January, Villers was global head of professional and financial lines.

It is also understood that Villers is stepping down for personal reasons and is hoping to achieve a better work-life balance.

Villers co-founded SVB Holdings (now Novae Holdings) in 1986, and was chief executive from 1991 to 2002. He joined Aspen in April last year.

Aspen said: “Rupert Villers will move to a part-time role at Aspen in 2011, and will step down as chief executive of the insurance division once a successor is appointed.”