Aspen Insurance (AHL) Guides Q2 Operating EPS Ahead of Expectations

(Updated - July 10, 2014 4:50 PM EDT)

Aspen Insurance Holdings Limited (NYSE: AHL) announced its preliminary financial results for the quarter ended June 30, 2014. Aspen will report final results for the quarter on July 23, 2014.

For the second quarter of 2014 Aspen expects the following results:

• Diluted Book Value per Share at June 30, 2014 between $44.60 and $44.80; up 4.4-4.9% from March 31, 2014
• Diluted Operating Earnings per Share between $1.30 and $1.35. (The Street sees EPS of $1.22.)
• Diluted Earnings per Share between $1.70 and $1.75
• Gross Written Premiums between $775 and $780 million
• Combined Ratio between 90.0% and 91.0% or 89.0% to 90.0% excluding bid defense costs1
• Net favorable reserve development equating to between 4.5 and 5.5 combined ratio points
• Annualized Operating Return on Equity between 12.0% and 12.8%
• Annualized Net Income ROE between 16.0% and 16.8%

Chris O’Kane, Chief Executive Officer, commented,

“Our results this quarter reinforce the strong momentum evidenced by Aspen in the first quarter. The continued excellent performance across our businesses gives us confidence in the diversity, growth, quality and profitability of our platforms. We remain intensely focused on the achievement of our strategic and financial objectives for 2014 and beyond and are excited about seeing our shareholders benefit from the investments we have made in our business.”

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