Posted on 21 Oct 2011
Aspen US Insurance announced that Aspen and Brownstone Insurance Agency have formed a partnership effective September 1st, to bring their combined underwriting and claims expertise to the commercial residential property market.
This new partnership allows Brownstone Insurance Agency to increase the depth of service and coverage that Brownstone offers to its clients and provides opportunity for innovation and expansion. Brownstone has been providing insurance coverage for commercial residential properties since 1973. With offices in New York City, Hoboken and Boston, Brownstone offers coverage throughout New York, New Jersey, Connecticut, Massachusetts and Rhode Island.
"We have been serving the commercial residential property market for nearly 40 years," explained John Simone, Managing Director of Brownstone's New York office. "This has allowed us to develop underwriting, claims and loss control expertise in this class of business. Aspen is the perfect fit for our program as Aspen's focus on the specialty segment delivers risk expertise and service that matches how we deliver our product to the market."
"Our affiliation with Brownstone is a great example of Aspen's new admitted strategy at work," commented Mario P. Vitale, President of Aspen US Insurance. "Our offering to clients is predicated on an integrated approach to underwriting and claims focused on specialty segments of the market where brokers and customers are seeking value added solutions. The Brownstone program is designed to deliver tailored solutions to the commercial residential property market."
For more information about the Brownstone Insurance Agency, call (212) 962-5620 or visit http://www.brownstoneagency.com .
About Aspen U.S. Insurance
Aspen U.S. writes property, casualty and specialty insurance in the U.S. on both a surplus lines and admitted basis through Aspen Specialty Insurance Company and Aspen American Insurance Company. In the last 18 months a number of teams have been hired with a specialized focus on underwriting opportunities in Inland Marine and Ocean Risks, Professional Liability, Management Liability and Director's and Officers Insurance which are underwritten in addition to established lines of Property, General Casualty and Environmental Liability. For more information, please visit http://www.aspen.co .
About Aspen Insurance Holdings Limited
The Company provides reinsurance and insurance coverage to clients in various domestic and global markets through wholly-owned subsidiaries and offices in Bermuda, France, Germany, Ireland, Singapore, Switzerland, the United Kingdom and the United States. For the twelve months ended December 31, 2010, the Company reported gross written premiums of $2,076.8 million, net income of $312.7 million and total assets of $8.8 billion. Its operating subsidiaries have been assigned a financial strength rating of "A" ("Strong") by Standard & Poor's, an "A" ("Excellent") by A.M. Best and an "A2" ("Good") by Moody's Investors Service.