Aspen
-
The carrier has also announced a brace of promotions in its first-party and specialty teams. -
The existing $770mn adverse development cover between the two parties has been absorbed as part of the deal.
-
A substantial rise in the value of liabilities transacted during Q1 to $4.2bn was driven largely by Aspen’s $3.6bn LPT with Enstar.
-
The business performance is on track for an eventual flotation, but the date will depend on stock market conditions, the CEO said.
-
The reinsurance segment swung back to underwriting profits as its CoR declined 8.5 points to 93.6% and its LR improved 11.4 points to 63%.
-
The carrier strengthened reserves by $41mn due to uncertainty around financial and professional lines claims development.
-
Under the terms of the deal, Aspen will provide paper across multiple geographies with three programs in the US and four in Europe.
-
Project Leaf will see environmental, social and governance (ESG) information issues woven into Aspen’s decision making for its credit and political risk portfolio.
-
The deal is the largest in Enstar’s history and sets Aspen up either for a sale to a strategic buyer or a return to the public markets.
-
Ashley Bowell was found guilty of defrauding his former employer, and its insurer Aspen, after falsely claiming to have been injured at work.
-
The carrier said the move reinforces the importance of Lloyd’s as a platform.
-
In a raft of promotions, Andrew Rippert will become reinsurance CUO and Beatrice Morley head of international reinsurance.
Most Recent
-
GWP for P&C captives up 12.5% last year: Marsh
30 June 2025 -
Howden Re names Richardson exec chair as Fox exits
30 June 2025 -
Ardonagh completes $2.5bn Stone Point-led investment
30 June 2025