Daily Insurance Industry News
Daily Insurance Industry News
Saturday 20th of January 2018
April 26, 2012

Aspen returns to the black in Q1

by Richard Kilner

Story link: Aspen returns to the black in Q1

Aspen Insurance Holdings Limited has reported that in the first quarter of 2012 it made a net income of $78.7m, equating to $0.99 per diluted share.

This compares well with the corresponding period last year when the firm incurred a net loss of over $150m.

Aspen reported operated earnings per diluted share of $0.88, contrasting with an operating loss of $2.38 per diluted share in Q1 2011.

Gross written premiums rose year-on-year from $671.3m to $782.1m in Q1 2012, and net earned premiums rose from $452.4m to $495.4m.

Chief Executive Officer Chris O’Kane said that the overall results for the first quarter were encouraging, adding that the reinsurance performance was strong but that the insurance result was affected by the Costa Concordia event.


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