Corporate and Regulatory Information - Aspen We aim to achieve the highest standards of accountability, transparency and probity, to ensure that the rights of shareholders and all other stakeholders are protected, and to be the best company we can. We entered the year with a well-positioned and diversified portfolio that enabled us to capitalize on positive trading conditions to grow GWP by 16.5% to $2,351.3 million. As a family-run business, our commitment is to make our clients feel like family, all while offering them advice, access to top-notch agents, unparalleled service, and protection for all that they value. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the 'unsubscribe' section below. Together Marc and Hailey enjoy playing with their fur baby Lola. You are ultimately responsible for payment on your account. Registered office: 30 Fenchurch Street, London, EC3M 3BD, UK. However, these measures should not be viewed as a substitute for those determined in accordance with GAAP. We invest in . Whatever the challenges, as a leading specialty insurance and reinsurance company, we have the insight, expertise and confidence to bring clarity from complexity. Send Email. Aspen Insurance :: Aspen Managing General Agency In presenting Aspens results, management has included and discussed certain non-GAAP financial measures. Management believes these non-GAAP financial measures, which may be defined differently by other companies, better explain Aspens results of operations in a manner that allows for a more complete understanding of the underlying trends in Aspens business. Actions after 5 p.m. We utilize technology to deliver the Personal Auto Coverage you need with a streamlined process. She has worked in the insurance industry since 2009 and holds her property & casualty, life and health licenses. The ratings of the members reflect their balance sheet strength, which A.M. Best categorizes as very strong, as well as their adequate operating performance, neutral business profile and appropriate enterprise risk management. Net favorable development on prior year loss reserves of $7.3 million decreased the loss ratio by 0.6 percentage points in the six months ended June 30, 2022, compared with net unfavorable development of $(7.3) million which increased the loss ratio by 0.6 percentage points in the six months ended June 30, 2021. (1) Non-operating expenses in the six months ended June 30, 2022 includes expenses in relation to amortization of intangible asset and other non-recurring costs. Find top employees, contact details and business statistics at RocketReach. How are you measuring your sustainability progress? Aspen American Insurance serves customers worldwide. Combined ratios differ from U.S. statutory combined ratios primarily due to the deferral of certain third-party acquisition expenses for GAAP reporting purposes and the use of net premiums earned rather than net premiums written in the denominator when calculating the acquisition expense and the general and administrative expense ratios. esgSubNav, Discover more about S&P Globals offerings, Health Insurance Plan of Greater New York, The negative outlook reflects the negative impact of. Company Description: Aspen Insurance Holdings is a leading specialty insurance and reinsurance company. Operating income includes an adjustment for the change in deferred gain on retroactive reinsurance contracts in order to economically match the loss recoveries under the adverse development cover (ADC)/ loss portfolio transfer (LPT) contracts with the underlying loss development of the assumed net loss reserves for the subject business of 2019 and prior accident years. Net realized and unrealized investment gains. Yasmin.Saleh@aspen.co Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC acted as financial advisors to Aspen and Willkie Farr & Gallagher LLP served as its legal counsel on this transaction. Her experience comes from working within the captive and independent agency world along with a unique background in the public sector/special districts realm. In revising the outlook, the agency took into account the possible deterioration of the company's adjusted leverage if the current economic fallout and the subsequent impact to light-vehicle sales, consumer warranty pressures, and reduction in payrolls continue for the next two to three months. Atlanta, GA 30326-4232. Operating income is an internal performance measure used by Aspen in the management of its operations and represents after-tax operating results. This compares to $3.0 million net realized and unrealized investment gains in the six months ended June 30, 2021, which includes net unrealized gains of $16.1 million. The CreditWatch placement also reflects the agency's view that the impact of COVID-19 on auto warranty administration sales could last until June. Consequently, Aspen has concluded that USD is now the functional currency for all its branches and overseas entities. The negative outlook reflects the negative impact of the COVID-19 pandemic on the auto and consumer warranty segments, which will erode Amynta's 2020 EBITDA. Aspen Appoints Tay Boon Chuan as Head of Singapore. (1) Reinsurance recoverables and reinsurance premiums, included in other payables, have increased by $2.4 billion and $1.9 billion due to the ceded reserves recoverable and reinsurance premiums payables on the LPT. At Aspen, Celinas primary focus is to provide our team with the necessary support to make certain that each client receives the proper amount of time and attention needed to ensure that they are well protected. Great-West Lifeco, Inc. insurance-centered financial holding company. Amynta Group Partners with Crum & Forster on Surety Business. Net written premiums of $722.4 million, in the six months ended June 30, 2022, an increase of 16.8% compared with $618.5 million in the six months ended June 30, 2021, primarily due to growth in gross written premiums. Aspen Insurance Company Profile - Office Locations, Competitors - Craft Crypto Market Is Celebrating SECs Setback in Ripple Suit. The ratings also take into account Accelerant Intermediate's consolidated balance sheet strength, which A.M. Best categorizes as very strong, as well as the group's adequate operating performance, limited business profile and appropriate enterprise risk management. DeeDee spent several years teaching but was drawn to the insurance industry after realizing she knew very little about her own insurance coverage needs. Established in 1967, Aspen Insurance Agency is an Independent Insurance Brokerage firm offering a variety of insurance policies and risk management services to operate as your all-in-one insurance firm across the U.S. Each year we compare products across a broad network of 30+ highly rated, financially strong . A Colorado native, Lara is from a rural town in Northeastern Colorado. The agency also downgraded the insurer financial strength and issuer credit ratings of the group's core subsidiaries, Aspen Bermuda Ltd. and Aspen Insurance UK Ltd., to A- from A. Segment highlights for six months ended June 30, 2022. Head of Corporate Communications The average duration of the fixed income portfolio was 3.06 years as at June 30, 2022. (2) Interest expense includes interest on deferred premium payments for the ADC contract. Jon launched his career in Pittsburgh, PA where he worked for Dicks Sporting Goods Corporate Headquarters. Literally, we have everything you need to access your policy and make a payment. Josh takes pride being able to help protect individuals, families, and businesses from unforeseen circumstances. $ in millions, Total liabilities and shareholders equity. Josh earned his bachelor's degree in business management and his master's degree in management. At Aspen Insurance, we promise to treat your data with respect and will not share your information with any third party. Non-GAAP financial measures are used throughout this release. February 19, 2019. Josh was born in Wyoming but grew up in Broomfield Colorado. The change in the Companys functional currency determination has been applied on a prospective basis in accordance with ASC 830. Net income available to ordinary shareholders, Change in deferred gain on retroactive reinsurance contracts, net of the cost of the LPT, Net realized and unrealized investment losses/(gains), Tax (expense)/benefit on non-operating income. This rating has decreased by -1% over the last 12 months. The retention ratio in the six months ended June 30, 2022, was 55.3% compared with 55.1% in the six months ended June 30, 2021. Aspen Holdings 8 - 1155 North Service Road West, Oakville, ON, L6M 3E3 1 (844) 330-1213 He has built an impressive franchise over the past 17 years and we wish him well in his future endeavors.. Canada Life. After graduating college, Harris headed out west to California where he gained experience in both marketing and sales. Call one of our licensed agents at 866-966-9868. Life at Aspen is fast-paced and challenging but above all we treasure and actively foster an environment of integrity, mutual respect, and trust. The rating represents the overall financial status of Evanston Insurance Company and Aspen Specialty Insurance Company, and is not a recommendation of the specific policy provisions, rates or practices of the issuing insurance company. If you experience any issues with this process, please contact us for further assistance. A sustainable tomorrow starts with actionable intelligence today. When not helping clients navigate all things insurance, you can almost certainly find Colleen outdoors- She may be found downhill skiing or mountain biking with her hubby, Tom. Lara currently specializes in Commercial Lines risks including artisan contractors, habitational, small to mid-size businesses, farm/ranch, and equine exposures with an array of other specialty lines products. Insurance ratings actions: S&P acts on Aspen American, Willis Towers Sign up for a free account. The agency also revised its outlook on the companies to negative from stable, reflecting the expectation that the companies will be pressured to maintain capital redundancy at the A level based on expectations for higher-than-normal credit losses and possible downgrades of corporate bonds in the investment portfolio. Established in 1967, Aspen Insurance Agency is an Independent Insurance Brokerage firm offering a variety of insurance policies and risk management services to operate as your all-in-one insurance firm across the U.S. Each year we compare products across a broad network of 30+ highly rated, financially strong insurance carriers, allowing us to bring you the best coverage at the most competitive prices. Over the past year, Aspen has been in the midst of a restructuring after reporting losses. Marc's expertise includes insurance analysis, financial security and protection, and business consulting. Harris made the choice to enter into the insurance business in hopes of furthering his lifelong passion for helping others and he could not be happier with his decision. Hours: Mon-Fri: 8am - 5pm Hailey was born and raised in the suburbs of Houston, TX with strong family ties to the East Coast. Descriptions in this news article were not prepared by S&P Global Ratings. The negative outlook takes into account the economic uncertainty and the impact on the companies' loss experience and risk-adjusted capitalization over the next 12 months due to the uncertainty related to the new coronavirus pandemic. Aspen Capital Partners, our capital markets franchise, is the third important pillar of our business, and we were pleased to report total fee income of $47.0 million for the six months ended June 30, 2022, an increase of $16.5 million over the prior year. This material is intended for licensed insurance agency . Aspen Insurance Holdings Limited Company Profile - Dun & Bradstreet Contact Information. Complete this form to receive your FREE, NO OBLIGATION medical malpractice insurance quote. List of Canadian insurance companies - Wikipedia Get Free Insurance Industry News Updates Delivered to Your Email! Get contact details including emails and phone numbers Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Catastrophe losses of $84.5 million for the six months ended June 30, 2021, included losses associated with Texas winter storms and other weather-related events. Claims - Aspen Insurance - Aspen Managing General Agency Net income of $48.4 million and an operating income of $130.0 million in the six months ended June 30, 2022, compared to a net income of $87.4 million and an operating income of $66.7 million in the six months ended June 30, 2021. Effective January 1, 2022, management reassessed its functional currency determination as required by ASC 830, Foreign Currency Matters, as a result of significant changes in the groups economic facts and circumstances, and concluded that the functional currency of certain of its foreign operations had changed. Insurance ratings actions: S&P downgrades Aspen Insurance, APCO That's why we've put everything you need in the palm of your hand. They maintain an A (Excellent) rating by AM Best (as of July-2013). $ in millions, except ratios, Amortization of deferred policy acquisition expenses, Net realized and unrealized investment (loss), Net realized and unrealized foreign exchange gains (3), General and administrative expense ratio (4). Family's wealth estimated at $10.2 billion. The ratings of Trustmark Life Insurance Co. reflect its balance sheet strength, which A.M. Best categorizes as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management. In addition to presenting net income determined in accordance with GAAP, Aspen believes that showing operating income enables investors, analysts, rating agencies and other users of its financial information to more easily analyze Aspens results of operations in a manner similar to how management analyzes Aspens underlying business performance. At Aspen Insurance, we promise to treat your data with respect and will not share your information with any third party. The expense ratio is calculated by dividing the sum of amortization and deferred policy acquisition costs and general and administrative expenses, by net earned premiums. Links are current as of publication time; S&P Global Market Intelligence is not responsible if those links are unavailable later. Aspen Insurance is led by Bruce Eisler, who serves as Chief Executive Officer U.S. and Chief Underwriting Officer, Aspen Insurance.
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