Aspen increases retrocession as premiums surge

Posted On: Oct. 26, 2018 5:53 AM CST

Bermuda-based Aspen Insurance Holdings Ltd. ceded about 34% of its gross written premiums to retrocessional and third-party capital providers in the third quarter, up from nearly 29% in the third quarter of 2017, Artemis.bm reports. Aspen's gross written premiums grew 143% year over year to nearly $477 million driven by its financial and professional lines and property/casualty business. Reinsurance premiums declined 8% to $396.4 million due to a reduction in property catastrophe reinsurance business.