Aspen Capital Markets

Bermudian insurance and reinsurance group Aspen Insurance Holdings Limited has continued to cede more of its underwritten premiums to third-party capital sources and retrocession, with quota shares playing an important role as the company expands its insurance book.

Bermudian insurance and reinsurance group Aspen Insurance Holdings Limited grew its book at the January 2018 renewals, with CEO Chris O’Kane saying it was the first quarter in the firms history when it underwrote more than $1 billion of premium, but a significant proportion was actually ceded to retrocession and third-party capital it appears.

Bermudian insurance, reinsurance and growing third-party capital manager Aspen Insurance Holdings Limited, is changing the way it deals with sidecar style quota shares, which will see it stop using its Silverton Re sidecar and moving quota share support to cells of its other vehicle Peregrine Re.

Bermudian insurer and reinsurer, Aspen Insurance Holdings Limited, announced during its Q4 2017 earnings call that it grew its third-party capital assets under management (AuM) by more than 20% in 2017, taking the total to $550 million.

Aspen Insurance Holdings has expanded its capital markets activities through its Peregrine Reinsurance Ltd. vehicle recently, utilising it for segregated account re/insurance deals for a broader range of risks, backed by third-party investors.

Aspen Reinsurance has renewed its Silverton Re collateralised reinsurance sidecar at a size of $130 million for the 2017 underwriting year, a slight upsizing from the prior year and with its own $25 million contribution remaining steady.

Insurance and reinsurance group Aspen has shifted more of its property catastrophe reinsurance underwriting over to third-party capital managed in its alternative capital management and insurance-linked securities (ILS) unit, Aspen Capital Markets, according to executives at the firm.

Aspen Reinsurance said that its alternative capital management and insurance-linked securities (ILS) unit, Aspen Capital Markets, has renewed its collateralized reinsurance sidecar Silverton Re with $125 million of capital for the 2016 underwriting year.

Third-party investors in global re/insurance firm Aspen’s collateralized reinsurance sidecar Silverton Re benefited from $8 million of income that flowed through to them from the vehicle thanks to a “relatively benign cat experience” in Q3 of 2015.

Global insurance and reinsurance firm Aspen’s collateralized reinsurance sidecar Silverton Re has seen the value of its long-term debt, which was issued to third-party investors, grow by approximately 11% in Q3 2015, from $76.2 million to $84.5 million.