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Aspen hires JP Morgan amid M&A speculation

Aspen has added a second investment bank, JP Morgan, to advise it on its alternatives after reporting losses in the fourth quarter of 2017, The Insurance Insider reported, citing "four banking sources."

Goldman Sachs already advises the company, which recently closed its U.S. property insurance unit in Bermuda.

The report said the move is not necessarily a prelude to the company's sale.