Aspen reports improved Q3 results
by Richard Kilner
Story link: Aspen reports improved Q3 results
Aspen Insurance Holdings Limited has reported its financial results for the third quarter of 2012, including net income of $115.1m, up from $21.2m in Q3 2011, and diluted earnings per share of $1.45. This is a substantial improvement on the corresponding period last year when the firm made diluted earnings per share of $0.21. Year-on-year, [...]
Aspen appoints chief financial officer
by Richard Kilner
Story link: Aspen appoints chief financial officer
Aspen Insurance Holdings Limited has announced the appointment of John Worth as the firm’s new group chief financial officer. Worth, who assumes his new position with effect from 1 November, subject to regulatory approval, previously worked for Barclays PLC as group financial controller. He will acquire a seat on Aspen’s Group Executive Committee and is [...]
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 [...]
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 [...]
Aspen appoints interim CFO
by Richard Kilner
Story link: Aspen appoints interim CFO
Aspen Insurance Holdings Limited has announced that it is beginning a search for a new chief financial officer to replace Richard Houghton, who is to leave the firm on 29 February. Chief Risk Officer Julian Cusack will assume the position of acting chief financial officer until a permanent successor is appointed. Cusack formerly held the [...]
Aspen reports annual loss in 2011
by Richard Kilner
Story link: Aspen reports annual loss in 2011
Aspen Insurance Holdings Limited has reported its financial results for 2011 and for the fourth quarter of the year. Aspen reported quarterly net income of $13.5m, equating to $0.11 per diluted share. This marks a decline from the $1.12 per diluted share the firm managed in the corresponding period last year and was just under [...]
Aspen Risk Management given Chartered Insurers status
by Richard Kilner
Story link: Aspen Risk Management given Chartered Insurers status
The Chartered Insurance Institute (CII) has granted Aspen Risk Management Limited corporate Chartered Insurers status. The new status enjoyed by Aspen Risk Management is a prestigious designation, given to only those insurance firms that exhibit the highest quality of professional standards and skills and ethical conduct. The CII describes Chartered Insurers status as the gold [...]
Aspen reports third quarter results
by Richard Kilner
Story link: Aspen reports third quarter results
Aspen Insurance Holdings Limited has reported that it made a net income of $22.2m ($0.23 per diluted share) in the third quarter of 2011. This included net losses of $55m related to natural catastrophe events and increased estimates of losses due to severe weather in the US. The quarterly net income is less than a [...]
Aspen and Brownstone form partnership
by Richard Kilner
Story link: Aspen and Brownstone form partnership
Aspen US Insurance has announced that Aspen and Brownstone Insurance Agency have formed a partnership to serve the commercial residential property market with their combined underwriting and claims expertise. The new partnership means that Brownstone Insurance Agency can increase the depth of its coverage and service and affords opportunity for growth and innovation. John Simone, [...]
Aspen Insurance names new co-CEO
by Richard Kilner
Story link: Aspen Insurance names new co-CEO
Aspen Insurance Holdings Limited has announced the appointment of Mario P. Vitale as co-chief executive officer of Aspen Insurance. Vitale’s appointment is effective from 1 January 2012 when John Cavoores will relinquish the position, whilst remaining an Aspen director. Vitale will retain his present responsibilities as president of Aspen US Insurance and collaborate closely with [...]
Aspen appoints UK Distribution Manager
by Richard Kilner
Story link: Aspen appoints UK Distribution Manager
Aspen Insurance has announced the appointment of Jonny Atkinson as the firm’s new UK Distribution and Business Development manager. He brings more than two decades of experience to the position, and was most recently with RK Harrison Group where he helped establish the new ExecPro Division. Six years ago he joined Willis, leading the Bermuda [...]
Aspen US appoints Environmental leader
by Richard Kilner
Story link: Aspen US appoints Environmental leader
Aspen US Insurance has announced the appointment of Executive Vice President Ken Cornell to lead Aspen Specialty’s Environmental Liability team. In his new role with the firm Cornell will be based in New York, and will report directly to Mario P. Vitale, the president of Aspen US Insurance. He brings over a quarter of a [...]
Aspen suffers Q1 losses
by Richard Kilner
Story link: Aspen suffers Q1 losses
Aspen Insurance Holdings Limited has reported that during the first three months of the year, it incurred a net loss of $151.7m, equating to $2.40 per diluted ordinary share. During the same period last year the firm made a net profit of $18.3m. Gross written premiums declined, year-on-year, by 4.5% to $671.3m, with net investment [...]
Aspen creates US Surety Unit
by Richard Kilner
Story link: Aspen creates US Surety Unit
Aspen US Insurance has announced the creation of a Surety insurance unit to be led by Executive Vice President Michael Toppi. Toppi will be supported by Commercial Surety Vice President Matthew Raino and Commercial Surety Assistant Vice President Ryan Field. The Surety team will be based in Rocky Hill, Connecticut and take a niche approach [...]
Aspen appoints US Insurance president
by Richard Kilner
Story link: Aspen appoints US Insurance president
Aspen Insurance Holdings Limited has announced the appointment of Mario Vitale as the firm’s president of US Insurance. Vitale’s appointment comes as the firm seeks to bolster its presence in the United States by leveraging its investment and building its franchise in the US insurance market. He brings more than three decades of global experience [...]
Aspen announces quarterly results
by Richard Kilner
Story link: Aspen announces quarterly results
Aspen Insurance Holdings Limited has reported that in the third quarter it made net income of $92.8m and operating earnings per ordinary diluted share of $0.79. This is a substantial decline on the $145.8m net income ($1.40 per share) that the firm achieved in the corresponding period last year. Gross written premiums declined by $75m [...]
Aspen names new Insurance co-CEO
by Richard Kilner
Story link: Aspen names new Insurance co-CEO
Aspen Insurance Holdings Limited has announced the appointment of John Cavoores as co-chief executive officer of its insurance operations, Aspen Insurance. He joined the firm four years ago and brought almost three decades of experience to Aspen. Cavoores has had a seat on the Board of Directors for the last four years, and will begin [...]
Aspen results hit by catastrophe losses
by David Masters
Story link: Aspen results hit by catastrophe losses
Bermuda-based Aspen Insurance Holdings has posted its third quarter results, with a net loss after tax of $116.7 million, equivalent to an operating loss of $1.02 per share. This is compared to a net profit after tax of $117.2 million in the third quarter of 2007. The loss is being blamed on catastrophe payouts from [...]
