Aspen

Aspen Group is a specialty insurance and reinsurance company known for underwriting complex global risks. Its reinsurance arm, Aspen Re, earned $1.8 billion in premiums and $196 million in reinsurance underwriting income in 2024.

History of Aspen Group

Aspen Insurance Holdings began in 2002 as a specialty insurance and reinsurance business with global goals. It quickly expanded into the US and Bermuda with strong capital backing. By 2003, Aspen was writing over $1 billion in gross written premiums.

Since then, Aspen has marked several important moments in its growth and strategy:

• 2003: Aspen Specialty launched in Boston to grow US surplus lines business
• 2004: listed on the New York Stock Exchange to access broader investor base
• 2005: entered the aviation insurance market to diversify underwriting portfolio
• 2017: marked 15 years of operations with continued global expansion and risk solutions
• 2019: Apollo Global Management acquired Aspen in a $2.6 billion private equity deal
• 2021: Mark Cloutier became executive chairperson and CEO to lead Aspen’s next phase
• 2024: partnered with Coalition to boost cyber insurance capacity through Aspen Specialty

Aspen Group has continued to expand with strategic partnerships and a focus on new reinsurance lines. It aims at long-term value and smart capital use across platforms.

Reinsurance products and services

Aspen Group builds custom reinsurance solutions to help clients manage property, casualty, and specialty risks:

Property reinsurance

• property catastrophe: covers large natural disasters with strict controls and trusted client relationships
• other property: offers long-term reinsurance backed by market insight and deep client understanding
• property facultative: delivers excess of loss cover for high-value, complex global property risks

Casualty reinsurance

• casualty treaty: supports risk-sharing for clients across multiple regions including UK, US, and Asia
• casualty facultative: provides tailored excess solutions directly or through brokers in many territories

Specialty reinsurance

• marine and energy: protects offshore and transport-related assets from operational and weather risks
• terrorism: insures against attacks that disrupt physical infrastructure or business operations
• agriculture: helps cover losses caused by droughts, floods, or plant disease outbreaks
• mortgage: supports lenders by reducing exposure to residential and commercial mortgage defaults
• tech lines: insures advanced sectors like semiconductors, data centers, and specialized manufacturing

Aspen Group solves complex reinsurance problems with smart thinking and careful client-focused design.

Culture and core values

Aspen Group builds a healthy culture from the top, where leadership connects values with long-term success. Its people help shape behaviors that drive trust and teamwork every day.

Mission and mindset

Aspen’s mission is to turn complex risks into opportunities through clarity, confidence, and strong insight. This people-first mindset is reflected in Aspen’s core values:

• Own it: reminds employees that everyone plays a part in Aspen’s success and future
• Open-minded: encourages fresh thinking and openness to potential in every person and idea
• Do the right thing: promotes fairness, strong ethics, and a focus on doing what’s good
• In it together: values working as one team to overcome challenges and share wins
• Innovate: supports trying new approaches and never settling for what’s already known

These values guide how Aspen Group works and how it empowers its people to grow with purpose.

Work environment and benefits

It brings together skilled people with shared goals, no matter where they are based. Its teams care deeply—about each other, their clients, and the role they play in Aspen’s journey. Staff are provided with:

• health support: covers medical needs and confidential well-being advice
• flexible work: hybrid schedules and outcome-focused hours
• learning tools: access to TED talks, e-learning, and top training courses
• community growth: D&I and charity programs for skill-building and connection
• income protection: support for illness or injury-related work absences
• retirement plans: structured pension or savings options
• life coverage: company-paid life insurance policies
• commuter help: ticket loans and transport assistance
• fitness benefits: gym and sports fee reimbursement

Aspen gives people a voice, space to lead, and the chance to grow careers with confidence.

Diversity, equity, and inclusion (DEI)

Aspen Group backs real change through action, not just talk or good intentions. Its ExCo sponsors women leaders and runs a reverse mentoring scheme for managers. Internships, graduate programs, and local resource groups support future talent from all backgrounds.

The future at Aspen Group

A new chapter in risk and capital may signal what's ahead for the firm. Its launch of a new casualty reinsurance vehicle deepens its reach into cyber and casualty reinsurance with long-term partners. Leaders at Aspen Capital Markets aligned this deal with the company’s capital strategy.

A recent board expansion points to wider ambitions in specialty and capital strategy. New leadership appointments at Aspen Group bring added depth in underwriting, investments, and long-term growth planning.