Sompo to Acquire Aspen Insurance for $3.5 Billion to Expand Global Presence
Originally Published 4 months ago — by TipRanks
Aspen Insurance Holdings (AHL) saw its shares jump 14% after Japan’s Sompo Group agreed to acquire it for $3.5 billion, aiming to expand its global insurance footprint. The deal, valued at a 35.6% premium, is expected to close by mid-2024 and will integrate Aspen’s specialty insurance operations with Sompo’s overseas business, reflecting Japanese firms' interest in Western markets amid domestic growth challenges. Aspen, recently reporting strong Q2 results, is rated a Moderate Buy with an expected 8.5% upside.