Aspen attributes significant 2011 losses to natural catastrophe
Aspen Insurance Holdings has reported a net loss of $105.8m (£66.9m) producing a combined ratio of 115.6% for the full year 2011.
Premiums were up to just over $2.2bn ($2.076bn: 2010) and an operating loss of $66.1m compared to a $258.9m profit in 2010.
Meanwhile investment income dipped slightly to $225.6 this year from $232m last year.
The combined ratio has deteriorated significantly from its position in 2010 when it came in at 96.7% but this near 19 point shift in the wrong direction has been attributed to natural catastrophies.
Chris O’Kane, chief executive officer commented: “A combination of natural catastrophes and
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