Aspen’s Journey: From Apollo to Sompo
Aspen remains majority-owned by Apollo Global Management, which purchased the company in 2019 for $2.6 billion. Earlier this year, Aspen re-listed on the New York Stock Exchange, raising $397.5 million through the sale of 13.25 million shares at $30 each.
For Sompo, the acquisition not only enhances its property and casualty footprint but also deepens its specialty and reinsurance capabilities in cyber, credit and political risk, inland marine, U.K. property and construction, and U.S. management liability.
The deal also secures Sompo entry into Aspen Capital Markets, which manages more than $2 billion in third-party capital.
Leadership Praise and Strategic Alignment
“Aspen is a highly regarded brand, and through this process it has become clear that they represent a long-term owner for Aspen that respects our business and shares our values and ethos,” said Mark Cloutier, Aspen Group executive chair and Group CEO.
The Advisors Behind the Deal
Legal advisers for the deal include:
