Aspen Insurance Holdings has appointed a new group chief financial officer in the wake of the previous postholder’s departure.

Scott Kirk, who was Aspen’s chief financial officer for the firm’s insurance business, takes over from John Worth, who is leaving the company.

Aspen CEO Chris O’Kane said: “Over the course of seven years that Scott has been at Aspen, he has proven to be a highly talented strategic thinker and key financial leader, both in his group roles as group financial controller and group head of finance and most recently as CFO of Aspen’s insurance business.

“As CFO of Aspen insurance, he has played an integral role in a number of value-creating initiatives, including the successful growth of Aspen’s US insurance operation. We’re excited that Scott is taking on this new role at Aspen.”

Mr O’Kane said Aspen “continues to perform well” and was on track to achieve an operating return on equity above ten per cent this year, assuming normal loss experience, with targets of 11 per cent next year and between 11 and 12 per cent in 2016.

Mr Kirk joined the firm in 2007 and has been in charge of insurance finance for the past three years.

Thanking Mr Worth for his services, Mr O’Kane said: “John Worth has made a valuable contribution to Aspen and in particular strengthened the operational side of our finance function and enhanced our expense discipline.

“We would like to thank him for what he has done for Aspen and wish him all the best in his future endeavours.”

Aspen provides reinsurance and insurance coverage to clients worldwide through offices in Bermuda, Europe, Singapore and the US.