Aspen global energy and construction could rise as much as 20%
Aspen believes global marine could rise as much as 15% and global energy and construction up to 20% following the hurricane season hitting insurers on claims.
During its investor day presentation, Aspen gave expected rate rise tables for both insurance and reinsurance (see below).
Aspen told investors it had a ‘strong and diversified’ business. It says its own losses are only 10% of shareholders’ equity - lower than market expectations and lower than peer average.
|Insurance lines of business||Rate Change|
|Global Energy and Construction||10%-20%|
|U.S. Property and Programs||5%-15%|
|Reinsurance Lines of Business||Rate Change|
|U.S. Property Catastrophe||5%-20% (more if loss affected)|
|International Property Catastrophe||2.5%-10%|
|U.S. Risk Excess & Pro Rata||2.5%-10%|
|International Risk Excess & Pro Rata||2.5%-7.5%|