Bermuda-based Aspen Insurance Holdings Ltd. has announced that its subsidiary, Aspen Insurance UK Ltd., is set to underwrite insurance in Australia after being authorised by the Australian Prudential Regulation Authority.

Aspen's Australian branch is headquartered in Sydney and will carry out business under the name "Aspen Insurance UK Limited - Australia Branch". Aspen has appointed Ross Littlewood of Littlewood Services Pty. Ltd. (The ReCentre) as its agent in Australia.

Chris O'Kane, CEO of Aspen, said: "We have been writing business in Australia since the inception of the company as a direct offshore foreign insurer and we are delighted to confirm our commitment to the territory with the establishment of a branch office.

"This new office is indicative of Aspen's continuing efforts to deliver superior services and products to clients worldwide."

In Australia, Aspen currently underwrites property and casualty reinsurance and professional liability, financial institutions, energy physical damage, marine, energy and specialty liability, and aviation hull and liability insurance.