Aspen Insurance Holdings, a Bermuda-based global provider of specialty P&C insurance and reinsurance, announced terms for its IPO on Tuesday.
The company plans to raise $330 million by offering 11 million shares (100% secondary) at a price range of $29 to $31. At the midpoint of the proposed range, Aspen Insurance Holdings would command a fully diluted market value of $2.8 billion.
Aspen Insurance Holdings is a specialty (re)insurer with a diverse product mix balanced across its primary specialty insurance and opportunistic reinsurance franchises. Its primary specialty insurance product set is centered around niche "specialty" lines, such as professional liability, credit and political risk, cyber, and environmental. Its opportunistic reinsurance business is centered around both specialty and traditional reinsurance lines where it applies risk selection criteria to create unique risk profiles.
Aspen Insurance Holdings was founded in 2002 and booked $3.3 billion in revenue for the 12 months ended December 31, 2024. It plans to list on the NYSE under the symbol AHL. Goldman Sachs, Citi, Jefferies, Apollo Global Securities, BMO Capital Markets, Deutsche Bank, Morgan Stanley, RBC Capital Markets, Wells Fargo Securities, Citizens JMP, Dowling & Partners, Natixis, Piper Sandler, and Raymond James are the joint bookrunners on the deal. It is expected to price during the week of May 5, 2025.
