Aspen Report 2014 Q1 Net Income: $120.4M
Bermuda-based Aspen Insurance Holdings Limited reported net income after tax of $120.4 million, or $1.66 diluted net income per share, for the quarter ended March 31, 2014.
Chris O’Kane, Chief Executive Officer, commented, “We are very pleased with our strong results this quarter, which reflect the successful execution and growing impact of our three strategic levers: capital management, enhanced investment returns and optimization of our business portfolio.
“Our annualized operating return on average equity was 14.8%, the highest quarterly ROE since we began significant investments in our U.S. insurance lines in 2010. The U.S. Insurance teams continued their trajectory of profitable growth and International Insurance achieved a solid quarter. Our Reinsurance business had yet another strong quarter and remains a preferred trading partner for our clients.
“We continue to execute on targeted growth opportunities building off of our prior investments and the strength of our teams. Historically, we invested in both Insurance and Reinsurance to position our businesses for profitable growth. Those investments are paying dividends and driving meaningful improvements in our results.
” We expect the benefits garnered from those investments to continue to increase in the coming years and to drive premium growth faster than both expenses and allocated risk capital, which will result in continued improvement in ROE.”
