Aspen Insurance Holdings Limited made an after-tax loss of $15 million, or 38 cents per share, in the third quarter.

Operating income was $36.9 million, or 49 cents per share, which missed analysts’ estimates of 79 cents.

The Bermudian-based company is being acquired by investment funds affiliated with Apollo Global Management, in a $2.6 billion deal.

Chris O’Kane, chief executive officer, said: “Aspen delivered solid results in the third quarter. Our priority is to continue to enhance our financial and operational performance and maintain our sharp focus on providing our clients and business partners with outstanding service.

“We are excited about the next chapter in our history with a partner that understands our strengths, culture and customer-centric philosophy. The transaction remains on track to close in the first half of 2019.”

Aspen’s gross written premiums for the quarter were $873.2 million, up 2.4 per cent year-on-year. The diluted book value per share was $37.46, a decrease of 6.6 per cent from the end of last year.

Aspen’s combined ratio for the quarter was 111.1 per cent, compared with 152.2 per cent for the same period in 2017.