Aspen gives table of expected rate rises by lines for hurricane-hit market

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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.

It emerged last month that Aspen is to trim London jobs in a cost-cutting drive as it strives to continue remaining competitive.

Insurance lines of business	Rate Change
Global Energy and Construction	10%-20%
Global Marine	7.5%-15%
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%
Marine	5%-15%

The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.

Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.