D
ASPEN SPECIALTY INS CO
Rating Date
December 2023
NAIC
Classification
Risk Adjusted
Capital Ratio #1
Risk Adjusted
Capital Ratio #2
Loss
Ratio
Total
Assets
Capital
Net
Premiums
Net
Income
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Major Rating Factors: Weak overall results on stability tests (2.2 on a scale of 0 to 10) including weak risk adjusted capital in prior years and weak results on operational trends. The largest net exposure for one risk is high at 3.3% of capital. Strengths include potentially strong support from affiliation with Aspen Insurance Holdings Ltd. Poor long-term capitalization index (1.3) based on weak current risk adjusted capital (severe and moderate loss scenarios).
Other Rating Factors: Fair reserve development (4.1) as reserves have generally been sufficient to cover claims. In 2018, the two year reserve development was 56% deficient. Fair profitability index (4.5) with operating losses during 2018, 2019 and 2020. Average return on equity over the last five years has been poor at -7.1%. Good liquidity (5.4) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Stability Factors: C - Past results on our Risk-Adjusted Capital tests. R - Concerns about the financial strength of its reinsurers. T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business: Fire (12.1%), med mal (4.2%), comm multi (2.3%), other (81.4%)
Licensed in: All states, the District of Columbia and Puerto Rico
Principal Investments: Investment grade bonds (75.5%), non investment grade bonds (3.5%), cash (0.6%), other (20.4%)
Ratios
Premium to Surplus
Reserve to Surplus
1-Year Reserve Development
2-Year Reserve Development
Expense Ratio
Combined Ratio
Cash From Underwriting
Net Premium Growth
Investments in Affiliates
Corporate Info
Group Affiliation
Aspen Insurance Holdings Ltd
Investment Rating
APO
Company Address
1709 North 19th Street Suite
BISMARCK, ND 58501
Phone Number
(860) 760-7741
NAIC Number
10717
Largest Affiliates
C
WEST DES MOINES, IA - L&A
C
WILMINGTON, DE - L&A
C
DES MOINES, IA - L&A
C
Weiss Ratings