O’Kane: “Aspen Achieved An Excellent Result”
Bermuda-based Aspen Insurance Holdings Limited reported net income after tax of $28.2 million, or $0.30 per diluted share, and operating income after tax of $67.2 million, or $0.93 per diluted share, for the third quarter of 2015.
Chris O’Kane, Chief Executive Officer, commented, “Aspen achieved an excellent result in the third quarter, with a number of important achievements. Our Insurance business delivered the strongest quarterly underwriting performance in its history, and a combined ratio of 88.3%.
“Our U.S. Insurance platform is on track to exceed $600 million of net earned premiums in 2015, together with an expense ratio of less than 16%, while our International Insurance platform demonstrated a significant improvement in underwriting performance.
“At Aspen Re, our teams continued to demonstrate their innovative solutions, deep client relationships and disciplined underwriting. This was reflected in significant gross written premium growth, both from new business opportunities and the large pro-rata deals that we noted last quarter. Across our Insurance and Reinsurance businesses, we remain focused on building value for clients in our chosen areas of expertise.
“We continue to expect to achieve an 11% operating return on equity for 2015.”
