AspenInsurance Holdings Ltd.'s regional U.K. P&C business, AspenRisk Management Ltd., entered into a renewal rights agreement with LibertySpecialty Markets, a part of Liberty Mutual Insurance Group, effective Nov. 1.
Liberty Specialty Markets' U.K. regional P&C businesswill transfer to Aspen Risk Management, which will manage the existing book andoffer renewal terms for policies falling due for renewal on or after Nov. 1.
About 40 of Liberty Specialty Markets' regional P&Cemployees in five U.K. offices outside of London will transfer to Aspen RiskManagement. They will continue working from their existing locations andcontinue to service the existing Liberty Specialty Markets U.K. regionalP&C book with renewal continuity provided by Aspen Risk Management.
Liberty Specialty Markets will continue to handle claims onits existing policies.