Aspen Insurance Names New COO

Aspen Insurance Holdings Ltd., a Bermuda-based insurance and reinsurance provider, on Monday said it named Julian Cusack as its chief operating officer.

Cusack also will remain chairman and chief executive of the company's Aspen Insurance Ltd. unit, Aspen said.

The company also said that Richard Houghton, the company's chief financial officer, will assume responsibility for operational oversight of its human resources, information technology and insurance and reinsurance claims departments.

The promotion of Cusack and the expansion of Houghton's role come after Stuart Sinclair's resignation as the company's president and chief operating office effective April 17.

Aspen shares fell 26 cents to $26.53 in afternoon trading.