Keefe, Bruyette & Woods Maintains Market Perform Rating On Aspen Insurance Holdings

According to Keefe, Bruyette & Woods, Aspen Insurance Holdings AHL announced losses from April and May U.S. tornadoes and storms of $60 mm after-tax ($0.81/sh) or 2.2% of 1Q11 equity, with the majority of the losses from the company's reinsurance book. Keefe, Bruyette & Woods said that losses are net of reinsurance and reinstatements and are based off an industry loss estimate of $15 billion. “We are lowering 2Q11/2011 EPS and our PT to $30, but maintain our Market Perform rating.” Aspen Insurance Holdings closed yesterday at $25.48.