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Report: Aspen Insurance in deal talks, preparing bid process

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Report: Aspen Insurance in deal talks, preparing bid process

Aspen Insurance Holdings Ltd. is in takeover talks with several parties and is preparing to begin a bid process, The Insurance Insider reported, citing sources.

According to the report, at least one strategic bidder and two private equity houses have approached Aspen, which is being advised by Goldman Sachs and JP Morgan. The purchase price being offered is in the range of $47.50 to $50 per share, the report said.

Aspen did not immediately respond to S&P Global Market Intelligence's request for comment.

The company recently closed its U.S. property insurance unit in Bermuda after Aspen Insurance posted an operating loss of $178.1 million for the fourth quarter of 2017. The company suffered heavy catastrophe losses that year.