Aspen Insurance CEO O’Kane Issues Statement That He Will Step Down in 2019


Chris O’Kane, general manager of Aspen Sigorta Holding, gave the following statement to his employees that Apollo Global Management will resign in the first half of 2019 with the acquisition of Aspen. The description is filed in October. With the Stock Exchange Commission 1.

Dear colleague,
After more than 16 extremely enjoyable years leading Aspen, I will resign shortly after the CEO’s position or the purchase of mutual funds managed by Apollo Global Management, LLC’s subsidiaries. This is, of course, subject to closure of the transaction that we believe will take place in the first half of 2019, depending on the approval of regulators and shareholders of Aspen and other closing conditions.

Apollo predicts that Mark Cloutier will serve as the CEO of Aspen following the closure of the transaction. Mark has been Brit’s CEO since 2011 and is a highly successful insurance manager with a superior track record and a collaborative style of work. Apollo [Waiting] Mark marks mark on February 1, 2019 as a consultant to Apollo.

Apollo is impressed by Aspen’s people and is important for the business plan and investment in the company. Apollo has no plans to replace the other members of the Aspen senior management team after the closing.

In the next few months, there will be many opportunities for us to remember and look back on everything we do together, but I want to focus on a few forward-looking messages today.

First of all, we have to complete the process, which is an important business, among other things, to have a successful shareholder vote and to take all necessary regulatory approvals.

Second, we have a big “business-like mak business agenda to achieve. This includes continuing to the highest standards and increasing overall profitability. We are now at the point where a series of insurance and reinsurance conferences are held and we have to convey to our brokers and customers a message of assurance that Aspen will continue to serve them in the future, as in the past: by offering creative risk solutions and by promptly and responsibly seeking compensation. as a reliable, responsive and helpful partner.
Third, we need to develop our own business plans for 2019. In doing so, we will work with Apollo to review our investments and the initiatives they think of outside our reinsurance strategy. These areas were determined in the merger agreement with the SEC and would ultimately be implemented under the ownership of Apollo.

I plan to work as a very active CEO to ensure that the Company is healthy, vigorous and well positioned in all these areas and until our agreement is complete, fully respecting our ongoing commitments to our public stakeholders and other stakeholders. as can be. I would like each of you to join me in this regard and work with the same commitment to Aspen’s exciting future as you did this year.

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