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Aspen swings to a net loss in 2011

07 February 2012

The Bermudian firm said that catastrophe costs have reached $534m for the year, straining profitability at the re/insurer.

Read more: Aspen Financial Results Q4 Chris O'Kane

Aspen has slumped to a net loss of $105.8m for the full year of 2011, with a net income of $13.5m for the final three months of the year.

By contrast, the Bermudian re/insurer reported net profits of $312.7m for 2010, and $92.7m for the final quarter of the year.

Aspen attributed the damage to catastrophe costs, which it estimates reached $534.3m over...


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