Aspen Insurance Holdings Provides Initial Estimate of Third Quarter 2011 Catastrophe Losses of $10M for Irene and $14M Other Events
Aspen Insurance Holdings Limited (NYSE: AHL) today announced an initial estimate of losses of $10 million for Hurricane Irene and $14 million for other natural catastrophe events which occurred in the third quarter of 2011 (comprising US, Scandinavia and Asia weather-related events). In addition, there was an increase in the second quarter 2011 US severe weather-related losses of $17 million, from $65 million at June 30, 2011 to $82 million; this increase is consistent with the increase in estimated market losses from these events to $20 billion from $15 billion. Aspen's aggregate estimated losses from other 2011 catastrophe events (Australia floods, New Zealand earthquakes, and Japan earthquake and tsunami) are unchanged. Aspen's losses are net of applicable reinsurance, reinstatement premiums and tax.
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