Mark Cloutier, Group Executive Chairman and Chief Executive Officer, commented: “I am pleased to report an improved half year performance for Aspen, driven by a combination of improved underwriting results and further expense and efficiency gains. Against the backdrop of a global pandemic, to have delivered the progress we have is, ultimately, a reflection of the quality of our people, our platform, and the clarity of our vision.
“We are at heart an underwriting business and I am, therefore, encouraged that we are continuing on the journey to becoming a more disciplined, focused and performance driven global specialty (re)insurer. This is reflected in our underwriting performance, including an ex-catastrophe combined ratio of 89.9% and an overall combined ratio of 98.0%, despite the impact of Winter Storm Uri and an increased COVID-19 provision. Furthermore, we are a simpler business today than we were twelve months ago, and this is reflected by our ongoing focus on expense discipline, with our operating expense ratio improving to 14.8% and our general and administrative expense ratio seeing a 0.9% year-on-year reduction from our H1 2020 results.”
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