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Aspen Insurance Holdings Limited
AHL.NISIN: BMG053841059SEDOL: 2172372 |
Rating: BUY |
Target Price: 25.24 USD |
Investment Horizon: 6 to 12 months |
1Q 09 News Alert
Aspen Insurance Holdings Limited’s (Aspen) 1Q 09 adjusted1 total revenues exceeded our estimate, reflecting higher-than-expected premiums and net investment income. Bottom-line also exceeded our forecast in 1Q 09 as the impact of higher-than-expected claims and underwriting expenses was more than offset by higher-than-expected top-line. Although we expect to increase our net premiums earned estimates based on 1Q 09 performance…
4Q 08 & FY 2008 Update Report
Going forward, we expect premium rates to improve in some lines of the US insurance and reinsurance market, following the massive losses triggered by hurricane activities and large investment losses. Global reinsurance prices are up for January 2009 renewals and are expected to remain firm through April and July 2009 renewals. The company has indicated that its property reinsurance business in particular has witnessed…
4Q 08 & FY 2008 News Alert
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Aspen Insurance Holdings Limited’s (Aspen) 4Q 08 adjusted1 total revenues were above our expectations. However, the company’s adjusted net income was below our and market expectations. Going forward, we believe that hardening rates and increasing demand for reinsurance services will provide support to the company’s top-line....
Company News Alert
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Aspen Insurance Holdings Limited’s (Aspen) NYSE common stock price achieved our target price on 30 December 2008. The increase in price reflects investor confidence following the rating affirmation of its subsidiary’s rating by A.M. Best. Moreover, the company has also obtained approval to operate in Australia, which we believe has boosted the common stock price. However, at current levels, we believe the company’s fundamental upside…
3Q 08 Update Report
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Aspen Insurance Holdings Limited (Aspen) reported a y-o-y decline in its total revenue due to net realized losses on investments and a significant decline in net investment income, partially offset by y-o-y increase in net premiums earned....
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