Aspen has posted a net profit of $101.8m for the second quarter.

The Bermuda-based reinsurer's gross written premiums totalled $522.4m and net investment income was $49.9m.

Aspen's combined ratio was 81.6%.

Chris O'Kane, Aspen's chief executive, said: "I am pleased with our second quarter results, which provide us with a strong basis from which to approach the second half of the year.

"We have significantly strengthened our risk management capabilities and further improvement in this area remains a core focus for us.

"Our strategy of holding back our capacity for North Atlantic hurricane risk earlier in the year in anticipation of improved pricing in the second quarter has been borne out by the increases we were able to achieve for renewals during the second quarter."

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