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Aspen Insurance Holdings Limited

Aspen seeing mid-year rate increases of up to 7.5%: CEO, O’Kane

8th May 2018

Aspen Re, the reinsurance segment of Bermudian re/insurance group Aspen Insurance Holdings Limited, saw rate increases of 5.3% in the first-quarter of 2018, and while rates moderated at the April renewals, the firm's already seeing increases of up to 7.5% for loss-affected accounts incepting in June. Aspen's first-quarter results commentary is ... Read the full article

Aspen Re Chairman Boornazian to retire

29th March 2018

Bermudian insurer and reinsurer Aspen Insurance Holdings Limited has announced that Chairman of Aspen Re and Chief Executive Officer (CEO) of Aspen Re, Americas, Brian Boornazian, is to retire from the company, effective end of April, 2018. The company has revealed that Boornazian's role as Chairman of its global reinsurance operation and ... Read the full article

Aspen under analyst scrutiny following exec compensation hikes

20th March 2018

The future of Aspen Insurance Holdings Limited, the Bermudian insurance and reinsurance group, has come under increasing levels of scrutiny in recent days, in particular after the firm filed details of a hike in the severance compensation plans for the CEO and CFO. Aspen has been under scrutiny from analysts for ... Read the full article

Aspen taking steps to improve U.S. property insurance results

20th February 2018

Aspen Insurance Holdings Limited, the Bermudian insurance and reinsurance group, is taking steps to improve the performance of its property insurance book, beginning with the shuttering of its Bermuda-based U.S. property underwriting unit. Aspen's 2017 results were deeply disappointing, according to CEO Chris O’Kane, who said that the company was taking ... Read the full article

SafeWaters grows marine offer with range of Aspen-backed products

16th February 2018

SafeWaters Underwriting Managers has expanded its marine offering to include Aspen Insurance-backed cargo, hull, machinery and marine liabilities cover. Jorge Pecci, President and Chief Executive Officer (CEO) of SafeWaters, said; “with the support of Pat Hickey and his team at Aspen, we are bringing the capacity and strong security of one ... Read the full article

Aspen names David Cohen to lead Insurance, as CEO Postlewhite departs

26th January 2018

Aspen Insurance Holdings Limited, the Bermudian insurance and reinsurance group, has named David Cohen, President and Chief Underwriting Officer of Aspen Insurance, to lead the insurance business on a day-to-day basis, as Stephen Postlewhite is departing the firm. With the new responsibility of leading insurance at Aspen, Cohen will now report directly ... Read the full article

Aspen CEO “deeply disappointed” with 2017 performance

26th January 2018

Chris O’Kane, Chief Executive Officer, Aspen Insurance (CEO) said the firm is "deeply disappointed" with its financial performance in 2017 after the firm reported a pre-tax loss estimate of $135 million from California wildfires, net of reinsurance and reinstatement premiums,and a $245 million underwriting loss in Q4. Aspen's Q4 losses from ... Read the full article

Aspen in strategic partnership with CBG DS, includes stake in Crop Re

19th December 2017

Aspen Insurance Holdings Limited has entered into a new strategic partnership with CGB Diversified Services, Inc. (CBG DS), under which Aspen has acquired a 23.2% stake in newly established firm, Crop Re Services LLC (Crop Re). Crop Re is responsible for directing the reinsurance placement on behalf of CGB DS, and after Aspen ... Read the full article

Aspen Insurance Holdings appoints David Schick to Group Chief Operating Officer

6th December 2017

Aspen Insurance Holdings has named David Schick, who joins from Mayback, as Group Chief Operating Officer, set to succeed Richard Thornton who is leaving the business after nearly four years. Chris O’Kane, Group Chief Executive Officer, said; “David brings with him a wealth of business and strategic leadership as well as ... Read the full article

Aspen expects significant rate increases, 20%+ in loss-affected lines

20th November 2017

Aspen Insurance Holdings Limited (Aspen) has said that it expects to see rate increases of up to 20% and higher in reinsurance lines and up to 20% in primary lines of business, following market dislocation after high levels of catastrophe losses in the third-quarter of this year. Insurer and reinsurer Read the full article

Aspen launches efficiency and cost-cutting drive

26th October 2017

Hot on the heels of reporting a net loss for the third-quarter of -$253.8 million due to the major catastrophe activity and hurricanes, insurance and reinsurance player Aspen Insurance Holdings Limited has announced an efficiency and cost-cutting drive. Clearly Aspen recognises that cost-of-capital is now key in the ... Read the full article

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

17th October 2017

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 ... Read the full article

Aspen appoints new Chief Risk Officer

26th May 2017

Aspen Insurance Holdings, the Bermudian, Lloyd's of London and U.S. platformed insurance and reinsurance specialist, has appointed Tim Aman as its new Chief Risk Officer. Aman joined Aspen earlier this year, but was formally appointed as the new Chief Risk Officer just last week. Prior to joining Aspen in February 2017, Aman ... Read the full article

Aspen’s O’Kane underlines importance of discipline, efficiency and diversification

8th May 2017

During insurer and reinsurer Aspen's first-quarter 2017 earnings release call, Group Chief Executive Officer (CEO), Chris O'Kane, discussed the challenging reinsurance market landscape, which continues to drive a need for discipline and efficiency. Despite the challenging, softening reinsurance market landscape, Aspen Re, the reinsurance arm of Aspen, recorded a combined ratio ... Read the full article

Aspen raises reserves by $30 million after Ogden rate cut

30th March 2017

Aspen Insurance Holdings announced an Ogden rate change impact at $30 million pre-tax in the shape of increased carried reserves for affected lines of business. The estimated figure for the financial impact on the firm’s 2017 first-quarter results is based on a review of its open claims from relevant segments, Aspen ... Read the full article

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