Aspen projects hurricane losses of $155M

HAMILTON, Bermuda—Aspen Insurance Holdings Ltd. on Friday said preliminary losses from hurricanes Gustav and Ike total about $155 million, net of reinsurance and reinstatement premiums. For Hurricane Ike, Aspen said 78% of its reinsurance segment and 22% of its insurance segment accounted for the losses. The Bermuda-based insurer and reinsurer reported that $103 million was related to onshore losses, while $38 million reflected offshore losses from Ike. Aspen estimated its preliminary losses from Gustav were $14... [read full story]