Aspen reports 4.8 percent growth

Aspen Insurance Holdings Limited reported net income after tax of USD114.4 million and operating income after tax of USD89.9 million for the first quarter of 2016.

Chris O’Kane, chief executive officer, commented, “Aspen has started the year well, with solid first quarter underwriting results from our insurance and reinsurance businesses contributing to an annualised operating return on equity of 11.2 percent and 4.8 percent growth in diluted book value per share.

“In addition, we continue to move closer to our clients, recently announcing the opening of our Dubai office to serve as our hub for the Middle East and Africa. As we move forward, we remain focused on consistently delivering value for our shareholders.”

Mario Vitale, CEO of Insurance, commented, “Aspen Insurance started the year with a solid quarter of profitable growth. The growth in the quarter was largely driven from businesses in which we have selectively chosen to expand, including contributions from Global Accident and Health, Management Liability, and our new European Property business.