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, gross written premiums increased by a healthy 12.7% to $558.4m, largely due to a 36.2% increase in the insurance segment.

Net written premiums rose from $486.9m in Q3 2011 to $516.2m in the most recent quarter.

In the first nine months of the year Aspen reported a net income of $278.4m, a welcome return to the black after it suffers a 9M 2011 loss of $122.5m.

Gross written premiums in the first nine months of 2012 were $2,007.1m, up from $1,749.1m, with net written premiums rising from $1,399.1m to $1,525m.

Chief Executive Officer Chris O’Kane said that Aspen entered the final quarter of the year with positive momentum and a strong capital position.

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Category: Financials, Insurance News