Keefe, Bruyette & Woods Maintains Rating On AHL After Japan Tragedy Losses

Keefe, Bruyette & Woods are maintaining a Market Perform rating and a price target of $29.50 on Aspen Insurance Holdings AHL after the company released its losses from the Japan tragedy. According to Keefe, Bruyette & Woods, “Aspen announced Japan earthquake/tsunami losses of $160 mm AT ($2.18/sh) or 5.5% of 4Q10 common equity, modestly below our expectations for the company from this event of $170 mm AT. 1Q11 cats now total $250 mm AT ($3.41/sh) or 8.7% of common equity. We are raising 1Q11/2011 EPS on the lower-than-expected losses from Japan events, but maintain our $29.50 PT and Market Perform rating.” AHL closed yesterday at $27.93.