Aspen reports loss for Q4, lower premiums in marine segment

Aspen Insurance Holdings booked GWP of $606.1m in Q4 2016, down 4.5% compared with $634.8m in the Q4 2015. In the insurance sector the $409.0m in GWP represented a decrease of 8.7% compared with $448.0m in Q4 2015, primarily

due to a decrease in the Property and Casualty sub-segment reflecting Aspen’s reduced appetite for Programme business and Primary Casualty, and lower premiums in the Marine, Aviation and Energy Sub-segment. The company booked a net loss of $71.5m for Q4. CEO Chris O’Kane said that 2016 had represented “an important year in positioning Aspen for the future”. During the January 2017 renewal season, Aspen had GWP of $588.2m, up 1.7% compared with the prior year. The renewal data does not include premiums related to AgriLogic. The specialty sector, the smallest sector revealed by Aspen in its figures, saw a 0.1% decrease to $178.6m.