Aspen Insurance Holdings Ltd. said Thursday that its net losses from the BP oil spill in the Gulf of Mexico should not exceed $25 million, The Associated Press reports.
The Bermuda-based insurance company, which has a reinsurance unit in Rocky Hill said it evaluated multiple insurance liability scenarios that could occur as a result of the Deepwater Horizon disaster.
Most the scenarios would cost Aspen substantially less than $25 million, the company said.
Shares of Aspen gained rose 40 cents to $24.76 in morning trading.
