Reinsurance News

Aspen warns of $340mn underwriting loss in Q3 on back of hurricanes

17th October 2017 - Author: Staff Writer

Aspen Insurance has revealed pre-tax losses from Hurricanes Harvey, Irma and Maria of $310 million, net of reinsurance and reinstatement premiums.

The Mexican earthquakes and other loss events contributed to an additional $50 million in pre-tax losses, net of reinsurance and reinstatement premiums.

Aspen’s reinsurance segment was hit with the majority of the blow from recent losses, covering about 75% of total losses, with just 25% being attributed to the firm’s insurance lines of business.

The firm states that approximately $110 million of the losses relates to hurricane Harvey, $135 million from hurricane Irma, and $65 million from hurricane Maria.

The re/insurer expects to record a Q3 2017 underwriting loss of approximately $340 million.


Results for the quarter reflect Aspen’s catastrophe losses as well as increased losses in short-tail insurance lines, primarily property insurance.

The carrier’s updated loss estimates will be included in its third-quarter 2017 financial results.

Print Friendly, PDF & Email

Recent Reinsurance News

Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.

  • Only email is mandatory, but the more you tell us about yourself the better we can serve you in future!
  • This field is for validation purposes and should be left unchanged.

By submitting the form you are giving your consent to be emailed by us.

Read previous post:
Willis appoints Neil Irwin to leader of CEEMEA

Willis Towers Watson has appointed industry veteran Neil Irwin to a Dubai-based role as leader of the Central and Eastern...