Entertainment

Fitch Publishes Unrated Issuer Report on Aspen Insurance Holdings Limited

The following is from Fitch Ratings on September 23:

Fitch Ratings has published an Unrated Issuer Report (UIR) on Aspen Insurance Holdings Limited.

UIRs provide analytical perspective and transparency on key issues that impact an organization's creditworthiness but without providing a credit rating or rating-like opinion.

In addition to highlighting what Fitch considers to be Aspen's main credit issues and trends, the report takes a closer look at:

--Business profile;

--Financial performance and earnings.

Aspen and other small to midsize reinsurers are facing increasing market pressures to become larger as a means to survive. This stress can create underwriting and operating risks for companies as they determine how to best adapt to the new world or risk becoming irrelevant. Fitch believes that Aspen may seek to boost operating scale in the future through an acquisition, or become a target for a larger buyer.

Changes in Aspen's business mix, including a shift away from reinsurance and more into insurance should reduce volatility. Expansion into more specialty businesses, Lloyd's of London, and the recent entrance into crop (re)insurance could potentially improve the company's competitive market position and profitability, but also create additional risks in underwriting quality and pricing adequacy on new business.

Aspen's profitability is characterized by combined ratios in the 85 percent-95 percent range and high single-digit to low double-digit returns on equity in most years. However, earnings are exposed to potential volatility and can decline materially in response to large catastrophe-related events. This was the case in 2005 and 2011, when significant insured catastrophe events pushed the company to an underwriting loss and an overall net loss in each year.

A peer analysis and a summary of market-based indicators round out the UIR.

UIRs are not solicited by the issuer, and Fitch receives no compensation from the issuer for the provision of an UIR. While a UIR is typically based primarily on public information, Fitch analysts may ask questions of an issuer's management while preparing the report. The level of management participation, if any, can vary significantly from case to case.

Additional information is available at 'fitchratings.com'.

For more information on Unrated Issuer Reports please go to:

http://fitchratings.com/web_content/product/unrated_reports.pdf.

Related Research

Aspen Insurance Holdings Limited (Challenging Market Conditions Pressure Earnings and Could Force Consolidation)

https://fitchratings.com/site/re/885840

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THE DAILY VIEW

  • Alexandra Scarborough
    Tea Forté Introduces ‘Matcha’ Collection

    Convenience meets tradition in Tea Forté’s new Ceremonial Matcha Bowl Set and the Matcha Single Steeps.

    The company said its spring harvested, shade grown, stone ground, organic matcha tea is best served in a centuries-old Japanese tea ceremony called chanoyu: a preparation technique known for its centering meditative qualities.

    "The launch of Tea Forté's Matcha collection represents our continued commitment to wellness and cultivating all the potential mental and physical health benefits of tea," says Tea Forté CEO Michael Gebrael. "In addition to our high quality Pure Matcha, we've also blended four distinct flavored Matcha varieties. Prepackaged in pouches measured out for a single serving, our Single Steeps Matcha is ideal for the office, travel, or to keep with you for a boost anytime."

    Tea Forté noted its handcrafted ceremonial tea bowl, handmade bamboo whisk and measuring ladle “encourages serene enjoyment of our premium Kosher, gluten-free and vegan matcha blends.” These include: Pure Matcha, Chocolate Matcha, Coconut Matcha, Ginger Matcha, and Chai Matcha.

    According to a release, in addition to its distinctive taste, matcha is prized for its health benefits. Steeped green tea contains only the antioxidants that can be extracted in water, while with matcha, the whole leaf is consumed.

    Available now in select stores and online at teaforte.com.

 

 

QUICK 5


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