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Aspen Insurance estimates $59M catastrophe losses in Q2

Aspen Insurance announced an initial loss estimate of approximately $59M, or $54M after tax, and net of reinsurance and reinstatement premiums, related to natural catastrophes in Q2. This estimate is split approximately 85% and 15% respectively between the Reinsurance and Insurance segments. Losses contributing to this estimate include flooding in Central Europe, Canada and India, and tornadoes and hailstorms in the United States. The largest of these events, Central European flooding, accounts for approximately $31M, or $28M after tax, of the total preliminary loss estimate. Aspen has estimated the industry losses from this event to be between $4B-$4.5B.