Aspen
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Innovation emerged as the critical target for attracting new business to London. -
Aspen's GWP increased 0.9% to $1.13bn, as it focuses on “robust cycle management”.
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The Aspen exec highlighted the London market’s long-standing reputation for innovation.
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The insurer paid tribute to the executive’s lasting contributions to the firm.
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What’s next for the reinsurance market as Monte Carlo approaches?
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The action follows Sompo’s $3.5bn all-cash acquisition of Aspen Insurance.
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The Japanese carrier faces integration challenges to make a success of the deal.
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Ratings agency said the Sompo deal could have positive financial and operational benefits for the Bermudian.
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Group CEO Mikio Okumura cited “solutions that have not been fulfilled”.
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Plus, the latest people moves and all the top news of the week.
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Insight into the state of the insurance M&A market, powered by this publication's deal database.
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Sources see Aspen as the right fit for Sompo, with Apollo getting a full cash exit.
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The lawsuit has been filed as sales talks with Sompo yielded a deal.
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The Japanese company announced the $3.5bn deal today, three months after the Bermudian completed its IPO.
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The Japanese carrier has agreed to buy Aspen for a realization of $3.5bn.
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The all-cash deal values the Bermudian’s stock at a 36% premium.
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This publication first reported deal talks last week.
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Plus, the latest people moves and all the top news of the week.
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Aspen would give Sompo more reinsurance scale, more US premium and a Lloyd’s presence.
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This publication revealed yesterday that the two were in detailed takeover talks.
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Sources said that detailed discussions have taken place, with a clear path to a deal.
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The newly created role consolidates leadership across UK entities.
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Last year, the firm obtained a Class 4 license in Bermuda.
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Emilie Hungenberg joins the carrier from Aspen.
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The executive replaces Mike Warwicker, who left the firm earlier this year.
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The underwriter has held positions at The Hanover, Liberty Mutual and Zurich.
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Plus, the latest people moves and all the top news of the week.
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The company’s upsized public offering priced at $30 per ordinary share.
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The IPO was announced at the end of April, targeting ~$2.6bn-$2.9bn.
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The specialty carrier is braving volatile macroeconomic conditions in a second effort to list.
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We assess the Bermudian’s standing amid waning investor sentiment and economic uncertainty.
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The carrier is targeting an IPO valuation between $2.6bn and $2.9bn.
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The carrier is offering shares priced at $29-$31.
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The syndicate expects £5.8mn-£8.6mn in California wildfire claims.
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Changes in business mix towards specialty and improved reserve development offset higher Q4 cat losses.
