Aspen Insurance Report Six Month Results
Bermuda-based Aspen Insurance Holdings Limited reported operating income of $101.8 million, and a net loss of $[37.3] million, for the six months ended June 30, 2019.
Mark Cloutier, Chief Executive Officer, commented: “We continue to see improvement in our underwriting performance as a result of our focus on underwriting discipline and active management of the underwriting portfolio, which have been underpinned by improving market conditions.
“We have seen good results across both our insurance and reinsurance businesses and we are particularly encouraged by the strong improvement in the ex-cat accident year loss ratio from our continuing insurance lines at 55.4% compared to 64.5% from our total insurance book during the six months ended June 30, 2018.
“While we are seeing rate and terms improving in some classes, particularly where there has been substantial withdrawal of capacity, we will continue to approach a number of the specialty classes cautiously as evidenced in the 5.9% reduction in gross written premium year on year.
“In my short period of time with Aspen I have come to appreciate the depth of talent and experience in the group and firmly believe we can show the right combination of entrepreneurialism and discipline the current market conditions and trends demand of us in order to build a successful business into the future.”
