Aspen

Aspen delivers adj FY CR of 86.4% as operating income jumps 82%

Aspen has reported fourth quarter operating earnings of $97.6mn which contributed to a total of $367.6mn for the year – up from $202.3mn in the prior year – as the Bermudian generated an adjusted combined ratio of 86.4 percent for 2023.

Coalition enters long-term US capacity agreement with Aspen

Coalition has entered a new multi-year agreement with Aspen Specialty Insurance Company to deploy cyber insurance capacity in the US, expanding the insurtech’s existing relationship with the Bermudian carrier.

Aspen’s Gitig: Faster recovery times leading to more elective surgeries, higher claims

Aspen Insurance’s US head of primary casualty Rebecca Gitig has said the firm is seeing positive rate momentum in “every segment” of its portfolio, but warned that faster recovery times are leading to more elective surgeries and driving loss costs higher.

Cloutier: Aspen remains bullish on US market including E&S

Despite taking a cautious approach to the rock-hard E&S property segment and pulling back in softening financial and professional lines, Aspen is still “very bullish” on the US insurance market, according to the Bermudian’s CEO Mark Cloutier.

Aspen swings to $190mn UW gain and grows GWP 10% in impressive ’22 results

Aspen Insurance Holdings has reported a $190mn underwriting gain for 2022 - after generating a $30mn underwriting loss the year before - and grew gross written premiums by 10 percent on the year to $4.34bn as the Bermudian nears the finish line in its turnaround.

kWh secures Aspen capacity for new renewable energy property program

Renewable energy focused MGA kWh Analytics has unveiled a new non-admitted property program offering policy limits of up to $75mn with capacity being provided by Aspen Insurance which is in-turn backed by a panel of reinsurers, Program Manager has learned.

Skyward Specialty IPO lays marker for slew of privately owned (re)insurers mulling 2023 IPOs

The move by US insurer Skyward Specialty to go forward with its New York IPO after releasing indicative pricing last week will be watched closely by a slew of other carriers based in London and Bermuda that could pursue plans to go public in 2023.

NextEra’s Palms build-out continues with Aspen, Axa XL and Tower Hill hires

NextEra Energy’s Palms Insurance Company has continued to build out its roster with two further hires from Aspen along with senior recruits from Tower Hill Insurance and Axa XL in recent months, The Insurer has learned.

Aspen hires Spain to lead Atlanta E&S property

Aspen has hired Nigel Spain to lead its Atlanta excess and surplus lines (E&S) property team with the new arrival making the move from GuideOne, The Insurer has learned.

Buffer opportunities return to hardening E&S property market

A hardening US excess and surplus lines (E&S) property market where rates on even clean cat-exposed accounts are up 10 percent is seeing the return of opportunities for writers of buffer layers in programmes, The Insurer has learned.