A major executive at Aspen Insurance Holdings is stepping down later this year.

Rupert Villers, chairman of Aspen Insurance and president of Aspen International Insurance, said he will leave the company at the end of October.

His departure will take place in phases. Villers plans to vacate his position as president of International Insurance at the end of July. He’ll keep his chairman slot until his final departure date hits later this year.

Ann Haugh, global chief operating officer of Aspen Insurance, will become president of International Insurance when Villers leaves that position at the end of July. She’s been with Aspen since November 2013 and previously held various executive positions with Zurich Insurance Group.

Villers said in prepared remarks that his is “happy to be leaving Aspen on an extended timetable” to allow for a smooth transition. He added his departure comes at a time where “the business is well positioned in a new and exciting stage of its development.”

Source: Aspen Insurance Holdings