Aspen Insurance Holdings Limited has reported solid financial results for the fourth quarter and full year ending December 31, 2024.
For the fourth quarter of 2024, Aspen recorded a net income available to ordinary shareholders of US$235 million, with an operating income of US$145 million. The company reported an annualised operating return on average equity of 24.8% and an adjusted combined ratio of 83.4% for the quarter.
For the full year 2024, net income available to ordinary shareholders reached US$431 million, while operating income totalled US$433 million. The company’s operating return on average equity stood at 19.4%, with an adjusted combined ratio of 86.8%.
Aspen’s gross written premiums increased by 16.2% year-on-year to US$4.6 billion, while net investment income rose by 15.3% to US$318 million. Additionally, Aspen Capital Markets reported a 24.8% increase in fee income, reaching US$169 million. Adjusted underwriting income for the year grew by 7.2% to US$381 million.
Group president Christian Dunleavy credited Aspen’s portfolio management and risk allocation strategies for the company’s robust underwriting performance. “All of these results reinforce our core strategies and underscore the relevance and importance of our platforms, products, and service offerings in their respective markets,” he said.
The company secured an adjusted combined ratio of 86.8%.
The company acknowledged its exposure to the California wildfires, estimating claims in the range of US$50 to US$75 million, which remains within expectations.
Looking ahead to 2025, Aspen expects to continue delivering strong financial performance.
“2024 has seen Aspen deliver yet another excellent set of results driven by healthy performance from each of our powerful earnings engines, underwriting, investments, and capital markets,” said executive chairman and group CEO Mark Cloutier. “2025 is set to be an important year for Aspen, and one we enter with confidence with the business now demonstrating sustained strong performance.”
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