Aspen Insurance Holdings Limited Q1 report card:

Net income: During the first quarter of 2004, Aspen reported net income of $85 million or $1.18 per share.

The company's profit during the first quarter was 460 percent higher than its earnings in the first quarter of 2003 when it posted net income of $15.2 million.*

Gross written premiums: $640.2 million with a combined ratio of 66 percent for the three-month period ended March 31, 2004. The company posted $577.7 million in gross written premiums during the same period last year.*

Of that Aspen's reinsurance division wrote $558.9 million in gross business while its insurance unit posted gross written premiums of $81.3 million in the first quarter. The reinsurance and insurance units posted combined ratios of 61 percent and 81 percent, respectively.

Net investment income: Aspen said its return on investments for the period was was $12 million in comparison to $4.9 million in investment income during the first quarter of 2003.*

Shareholders' equity: The company said investors had seen their equity increase from $1.3 billion at December 31, 2003 to $1.4 billion at March 31, 2004.

*The company opened its doors in May, 2002 and had not yet been in business a full year by the first quarter of last year which is the period being used as a comparison with these results.