Profits plunge at Aspen


In the second quarter of 2011 the Bermuda-based company, which recently acquired renewal business from M4, made a profit of $10.2m, a dramatic fall from 2010 when it made $108.9m in the same period.

Aspen's combined ratio for the first six months of 2011 was 126.6% (H1 2010: 98.4%).

The provider also declared a 3.7% fall in net earned premium to $912.2m (H1 2010: $947.5m) while gross written premium rose marginally to $1253.5m (H1 2010: $1,238.2m).

A breakdown of its insurance division

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