Aspen sets $30mn reserve increase on Ogden rate

Aspen joined the lengthening roster of (re)insurers - many of
them US-based - in reducing first-quarter earnings expectations
after the UK Ministry of Justice cut the Ogden discount rate,
announcing late today that it will have a $30mn pre-tax impact.
The amount will take the form of increased reserves for a number
of its insurance and reinsurance segments, primarily UK employer
and public liability, the Bermudian said.
But about half relates to lines that the company has either
exited and...