C
ASPEN AMERICAN 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: Fair reserve development (4.7 on a scale of 0 to 10) as reserves have generally been sufficient to cover claims. In 2018, the two year reserve development was 17% deficient. Fair profitability index (3.7) with operating losses during 2018, 2019 and 2022. Average return on equity over the last five years has been poor at -1.4%.
Other Rating Factors: Fair overall results on stability tests (4.5) including excessive premium growth and weak results on operational trends. The largest net exposure for one risk is conservative at 1.3% of capital. Good overall long-term capitalization (6.4) based on good current risk adjusted capital (moderate loss scenario). However, capital levels have fluctuated somewhat during past years. Good liquidity (6.4) with resources (cash flows and marketable investments) to handle claims.
Stability Factors: G - Fast asset or premium growth. R - Concerns about the financial strength of its reinsurers. T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business: Med mal (10.8%), fire (6.0%), comm multi (4.6%), homeowners (0.5%), fin guar/surety (0.3%), other (77.7%)
Licensed in: All states, the District of Columbia and Puerto Rico
Principal Investments: Investment grade bonds (50.2%), common stock (23.2%), cash (5.5%), non investment grade bonds (3.1%), other (18.1%)
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
211 East 7th Street Suite 620
AUSTIN, TX 78701
Phone Number
(414) 369-5033
NAIC Number
43460
Largest Affiliates
C
WEST DES MOINES, IA - L&A
C
WILMINGTON, DE - L&A
C
DES MOINES, IA - L&A
C
Weiss Ratings