Peregrine Re

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.

Insurance and reinsurance group Aspen Insurance Holdings Limited has reported a $245 million underwriting loss for the fourth-quarter of 2017, the majority of which is made up of a $135 million hit, after reinsurance, from the California wildfires, while the rest is due to mid-sized and attritional losses.

Aspen Insurance Holdings Limited has published its estimate of third-quarter 2017 catastrophe losses, with $360 million of impact expected from events including hurricanes Harvey, Irma and Maria. The majority of these losses come from Aspen’s reinsurance business segment.

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.