Aspen attributes significant 2011 losses to natural catastrophe

storm-warning

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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