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Report: Aspen Insurance to put UK regional MGA unit up for sale

Aspen Insurance Holdings Ltd. will divest its U.K. regional managing general agency, Aspen Risk Management Ltd., according to a report by Insurance Insider.

Aon Securities was appointed to manage the process, the report stated, citing market sources. The decision reportedly came as part of a review of Aspen Insurance's U.K. portfolio, which already exited some noncore lines in 2018.

Aspen Risk Management, which was acquired by Aspen Insurance in 2010, writes a portfolio of U.K. regional property and casualty business worth £80 million in the region.

A spokesperson for the company reportedly told Insurance Insider that it does not comment on rumor or speculation.

Aspen Insurance is being acquired by Apollo Global Management LLC for $42.75 per share in a deal announced in August 2018.