Aspen swoops for M4 renewal business
Aspen Insurance has announced that its regional platform, Aspen Risk Management, has agreed to purchase certain commercial insurance renewal rights and other related assets from M4 Underwriting.
The move followed Allianz's decision to review its relationship with M4, as revealed by Insurance Age in May.
As part of the deal, Aspen Risk Management said it would be offering renewal terms to the commercial combined policyholders for all policies due for renewal on or after 1 August 2011.
Both firms confirmed that the arrangement involved the transfer of a number of staff although the exact number was not divulged.
Kevin Pallett, managing director of Aspen Risk Management, commented: "We
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