Aspen reports improved Q2 and H1 results
by Richard Kilner
Story link: Aspen reports improved Q2 and H1 results
Aspen Insurance Holdings Limited has reported its financial results for the second quarter and first half of 2012.
Net income after tax increased dramatically for the quarter, rising from $9.1m in Q2 2011 to $84.6m in Q2 2012 (equating to a rise in diluted net income per share from $0.05 to $1.03).
Quarterly gross written premiums rose from $582.2m to $666.6m with net earned premiums rising from $459.8m to $513.4m.
The firm also reported a biannual net profit after tax of $163.3m, a welcome return to the black after it incurred a net loss of $143.7m during the first six months of 2011.
Gross written premiums for H1 2012 were $1,448.7m, up from $1,253.5m in the previous year.
Chief Executive Officer Chris O’Kane welcomed the firm’s strong underwriting results in both reinsurance and insurance and said that he was very pleased with Aspen’s quarterly results.