Aspen reports $120.4M profit

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, CEO, said: “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 US insurance lines in 2010. 

“The US 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. n