Aspen Announces Preliminary Estimate of Fourth Quarter 2017 Underwriting Loss and Initial Assessment of the Impact of U.S. Tax Reform
ASPEN INSURANCE HOLDINGS (AHL)
Last aspen insurance holdings earnings: 2/6 04:15 pm
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Source: Business Wire
HAMILTON, Bermuda--(BUSINESS WIRE)-- Aspen Insurance Holdings Limited (“Aspen”) (NYSE:AHL) announced today a preliminary estimate of approximately $135 million in pre-tax losses, net of reinsurance and reinstatement premiums, related to wildfires in California in the fourth quarter of 2017. The estimated losses are predominantly attributed to Aspen’s Reinsurance segment. Aspen expects to record an underwriting loss of approximately $245 million in the fourth quarter of 2017. These results reflect the natural catastrophe losses described above as well as an increased frequency of mid-sized and attritional losses primarily in Aspen’s Insurance segment. These include property and fire-related losses in the U.K. and the U.S. and, to a lesser extent, cyber losses and an increase in a previously reported surety loss. Aspen's reserves for losses and loss adjustment expenses remain strong and the expected fourth quar
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