Aspen reveals $160mn Japan hit and 5% renewal rates rise
Bermudian (re)insurer Aspen Insurance Holdings has estimated it will take $160mn in losses from the Japanese earthquake and tsunami and said it secured a 5 percent premium increase on its book at the 1 April renewals.
Aspen's Japan estimate is in line with an industry insured loss of $30bn and represents 5 percent of year-end 2010 shareholders' equity.
Together with $90mn in Australian and New Zealand losses, cat losses in the first quarter have now cost Aspen 7.8 percent of...
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