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Aspen Insurance Holdings Reports Results For Fourth Quarter And Twelve Months Of 2008
- Diluted book value per share of $28.10, up 3.8% over 2007 and 7.2% over the third quarter of 2008. Full year net income of $103.8 million and fourth quarter net income of $21.8 million, down 78.8% on 2007 and 83.9% over the same quarter last year.
- Total investment return of $117.1 million or a simple 2% yield, including losses from funds of hedge funds, impairment charges and changes in unrealized gains in fixed income portfolio.
- Full year net investment income of $139.2 million and fourth quarter net investment income of $10.3 million, down 53.4% on 2007 and 87.2% over the same quarter last year.
- Operating earnings per share of $1.44 for 2008, down 71.1% on 2007 and $0.17 for the quarter, down 88.4% on the fourth quarter of 2007.
- Operating return on equity of 5.4% for the twelve months, down from 21.1% for 2007, and annualized 2.4% for the quarter, down from 23.2% for the fourth quarter of 2007.
- Combined ratio for the twelve months of 95.6% and 93.4% for the quarter up from 83.0% and 79.4% for the respective periods in 2007.
- Expense ratio for the twelve months of 29.8% and 28.5% for the quarter, down from 29.9% on 2007 and 31.8% over the same quarter last year.
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