In a Press release, Aspen revealed that a formal selection process is underway to confirm a permanent CEO – subject to board and regulatory approval – as Stanford takes over from Richard Milner who will be leaving Aspen on March 31 to pursue other opportunities. A Press release from Chaucer Group has confirmed that Milner will be stepping up as the firm’s group CEO, subject to regulatory approval.
Aspen noted that in her new role, Stanford will continue to report to Mark Cloutier, executive chairman and group CEO and remain a member of the group executive committee. In addition to her interim UK CEO role, she will also continue in her position as active underwriter, Lloyd’s Syndicate 4711 - which represents approximately 75% of Aspen’s UK business.
Under Stanford’s leadership, the Syndicate has seen substantial progress, Aspen said, reporting significant growth to £838.6 million in GWP and delivering a 75.4% COR in 2022. Stanford, who has over 25 years of insurance experience, joined Aspen in 2007 and has served in several senior roles including as head of international management liability and professional lines. Before she joined Aspen, she worked in underwriting positions at Limit MJ Harrington Syndicate 2000/QBE.
Commenting on Stanford’s appointment, Mark Cloutier, executive chairman and group CEO said: “I am pleased that Sarah is stepping in as interim UK CEO. As Active Underwriter of Syndicate 4711, Aspen’s core platform in the UK, she brings an impressive track record and credentials in the form of a robust performance, innovative progress, and a solid market reputation for the Syndicate.”
“Sarah’s interim appointment into the role showcases the depth of talent we have within our team at Aspen and the strength of our succession planning. I would like to thank Richard Milner for his many contributions to Aspen over the past four years and wish him well in his future endeavours.”
