Aspen buys Puerto Rican MGA

Aspen Insurance has acquired Puerto Rico-based specialist Marine Managing General Agency Blue Waters Insurers, Corp. Blue Waters, which is headquartered in San Juan, was founded in 2007 . It will form part of Aspen Insurance’s global marine operation and will support the continued expansion of Aspen’s marine business by opening access to the Puerto Rican and Caribbean markets.

Blue Waters President Eugenio M Rosas will continue in his role, reporting to Patrick Hickey, Executive Vice President and Head of US Marine, Aspen Insurance.

David Cohen, President and Chief Underwriting Officer, Aspen Insurance, said: “Blue Waters has an excellent reputation and is a recognized industry leader in the Puerto Rico Marine market, reflecting the intellectual capital, technical and deep marine risk engineering expertise within the company. It is a successful business with strong prospects and is an excellent fit with our marine business in the US as it adds local, technical expertise to support Aspen Insurance’s expansion by delivering localized service to a new geography.”