Aspen reports Q3 profit
Powered by strong underwriting, Aspen Insurance Holdings has announced third-quarter net income available to ordinary shareholders of $111 million.
Mark Cloutier, executive chairman and the group chief executive, commented: “Aspen delivered strong results for the third quarter of 2025, continuing the positive trend of the past several quarters, reflecting the quality and stability of our franchise.
“With market dynamics shifting, including increased competition across several lines of business, I am pleased that we recorded a significantly improved combined ratio.
“Looking forward, I am confident that the high calibre of our people and our culture means we continue to be well placed to deliver best-in-class solutions and products for our trading partners and customers through the market cycle.
“On August 27, 2025, we announced the acquisition of Aspen by the Sompo Group. The acquisition is a testament to the sustainable performance and value we’ve created, and we continue to work diligently towards its successful completion, and we expect the transaction to close during the first half of 2026, subject to regulatory approval.”
Christian Dunleavy, group president, said: “Aspen continues to be focused on underwriting discipline and robust cycle management. This is reflected in both our excellent underwriting result and our thoughtful approach to new business, which has seen our gross written premiums grow modestly as we prioritise sustainable long-term profitability over growth.
“Our teams continue to dynamically allocate risk in response to customer need and the trading environment and, in this context, we were pleased to see fee income from Aspen Capital Markets increase once again.
“Our strong performance for the quarter means we are on track to deliver a mid-teens operating return on equity for the full year, as Aspen continues to create value for all its stakeholders.”
For the three months ended September 30, 2025, Aspen reports:
Improvement of 8.4 percentage points in the combined ratio of 86.8 per cent compared to September 30, 2024, resulting in underwriting income of $94 million
Adjusted underwriting income of $91 million with an adjusted combined ratio of 87.3 per cent
Aspen Capital Markets fee income of $47 million, growth of 6.4 per cent compared to September 30, 2024
Annualised operating return on average equity of 14.8 per cent
For the nine months ended September 30, 2025, Aspen reports:
Net income available to ordinary shareholders of $166 million, or $1.82 per diluted ordinary share and operating income of $261 million or $2.86 per diluted ordinary share
Underwriting income of $222 million, with a combined ratio of 89.5 per cent
Adjusted underwriting income of $233 million and adjusted combined ratio of 89.0 per cent
Aspen Capital Markets fee income of $146 million, growth of 29.8 per cent compared to September 30, 2024
Book value per ordinary share of $30.21 as at September 30, 2025, an increase of $5.22, or 20.9 per cent, compared to September 30, 2024
• For more on Aspen results, see Related Media
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