Aspen Insurance appoints new group CFO as firm report ‘disappointing’ results

Insurance company Aspen has announced the appointment of Kevin Chidwick as its new group chief financial officer, effective 1 May 2020, amid reporting a net loss after tax of $241.7m (£197m) last year.

In the year ended December 31, the company reported operating loss after tax to $48.4m (£39m) in the previous year.

Kevin Chidwick was previously chief financial officer at financial advisory network Openwork Limited, a position he was appointed to in March 2018. From September 2005 to August 2014, he was chief financial officer of Admiral Group, and was also appointed to the board in 2006.

He also held senior roles within the Admiral Group Plc including chief executive officer of Elephant Auto Insurance in the U.S. from January 2012 to March 2017, and chief executive officer of from November 2010 to December 2011.

Chidwick, who will report to Mark Cloutier, executive chairman and group chief executive officer, succeeds Scott Kirk, who will leave Aspen on April 30, 2020, to pursue opportunities outside of the company. 

Cloutier said: “Kevin is an extremely accomplished financial services executive who has held a number of senior roles within diverse and successful companies. His proven track record of growing businesses through his strategic insights and strong financial acumen make him an exciting hire for Aspen at this time in our evolution.

“Kevin joins an industry-leading executive team with significant strength and expertise and I look forward to working closely with him as we unlock the potential within our business and focus on total value creation.”

He added: “I would like to thank Scott Kirk for his significant contribution to Aspen over a number of years and to wish him well with his future endeavors.”

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