Aspen Insurance Clarifies Situation In South Pacific, Wunderlich Maintains Buy Rating (AHL)

Wunderlich Securities has published a research report on Aspen Insurance Holdings AHL after the company elicited some clarity on catastrophes in the South Pacific region.

In the report, Wunderlich writes "On March 15, Aspen Insurance Holdings Ltd. (AHL) provided an update on the recent catastrophes in Australia, New Zealand and Japan. Total losses from Australian floods and the New Zealand (NZ) earthquake are estimated at $90 million, or $1.15 per share, net of retrocession and reinstatement premiums. AHL stated that due to the event's severity, estimating the loss from the Japan earthquake (Tohoku) and tsunami will be delayed. Our 1Q11 EPS estimate of $0.55 incorporated losses from Australia and NZ. However, we are revising our 1Q11 estimate to break even to reflect a higher loss estimate provided by AHL."

Wunderlich maintains its Buy rating and $37 price target.

Aspen Insurance closed yesterday at $26.79.