Aspen

Aspen confirms $125mn ADC and buys more QS and XoL in 2018

Bermudian (re)insurer Aspen has bought a $125mn adverse development cover (ADC) to protect against prior year deterioration and is buying significantly more reinsurance in 2018 that may inhibit its ability to rebound its net earnings.

Aspen’s O’Kane ‘ruling nothing out’ regarding M&A

The CEO of Bermudian (re)insurer Aspen Chris O’Kane has said the (re)insurer is “open minded” to a strategic review that could ultimately lead to a sale process.

Aspen loss better than expected but ‘well below’ acceptable levels

Aspen has delivered a $178.1mn fourth quarter operating loss that was not as bad as analysts had expected but still “well below acceptable levels” according to the Bermudian’s chief exec Chris O’Kane.

Aspen expects $245mn Q4 UW loss as California losses bite

Bermudian carrier Aspen is set to post a $245mn underwriting loss for the fourth quarter including some $135mn of pre-tax losses net of reinsurance due to wildfires in California, the company announced last night.

Aspen insurance CEO steps down after poor Q4 cat performance

Aspen’s CEO of insurance Stephen Postlewhite has left the company with immediate effect, just hours after the Bermudian said it was expecting to post a $245mn underwriting loss for the fourth quarter.

Bermudian (re)insurance shares leap following AIG-Validus deal

Shares in Bermudian (re)insurers have surged in early trading today as investors seek exposure to a further round of consolidation on the island following AIG’s announcement of its mammoth $5.56bn acquisition of Validus.