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Aspen Reports Results for the Fourth Quarter and Twelve Months Ended December 31, 2017

Hamilton, Bermuda – February 8, 2018 – In a filing with the Bermuda Stock Exchange (“BSX”), Aspen Insurance Holdings Limited (“Aspen” or the “Company”; Ticker: NYSE: AHL; BSX: AHL.BH) ) reported a net loss after tax of $(184.9) million, or $(3.25) per diluted ordinary share, and an operating loss after tax of $(178.1) million, or $(3.14) per diluted ordinary share, for the fourth quarter of 2017. The excerpt of the filing stated:

Aspen Insurance Holdings Limited (“Aspen”) (NYSE: AHL) reported today a net loss after tax of $(184.9) million, or $(3.25) per diluted ordinary share, and an operating loss after tax of $(178.1) million, or $(3.14) per diluted ordinary share, for the fourth quarter of 2017.

Chris O’Kane, Chief Executive Officer, commented: “Aspen's fourth quarter 2017 results were well below acceptable levels. While some of the losses we reported arose from abnormally high natural catastrophe activity, we recognize that despite prior actions to strengthen our Insurance book, we need to take further actions to deliver substantially better results.

“We are redoubling our efforts to reduce volatility and improve Aspen’s profitability. Most of our non-natural catastrophe losses were concentrated in a limited number of lines within Aspen Insurance. We are actively reviewing these lines, and our focus is on taking all actions necessary to mitigate our residual exposure and deliver value to our shareholders. Our loss reserves are strong, and we continue to focus on achieving appropriate loss ratios and realizing the benefits to our expense ratio from the successful implementation of our operational effectiveness and efficiency program.”(1)

____________________

Non-GAAP financial measures are used throughout this release as defined at the end of this press release.

(1) Refer to "Forward-looking Statements Safe Harbor" at the end of this press release.

 

Operating highlights for the quarter ended December 31, 2017

Operating highlights for the twelve months ended December 31, 2017

Investment performance

Capital

Operational Effectiveness and Improvement Program

 

The full filing can be found unsing the following link: https://www.aspen.co/About-Aspen/Aspen-News/?pgid=12477

View source version on businesswire.com: http://www.businesswire.com/news/home/20180207006268/en/

Contacts

Aspen
Investors
Mark Jones, +1-646-289 4945
Senior Vice President, Investor Relations
mark.p.jones@aspen.co
or
Media
Steve Colton, +44 20 7184 8337
Group Head of Communications
steve.colton@aspen.co

 

Source: Aspen Insurance Holdings Limited

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