Aspen has reported a net profit of $95m for the three months ended 30 September 2006.
This compares to a loss of ($362m) for the same period last year.
Net investment income grew 60.9% to $47.3m compared to the third quarter 2005. Third quarter combined ratio was 81.0%.
Chris O'Kane, chief executive officer, said: "Our diversified business model has performed very well again in this quarter. While property results are good, reflecting the absence of major catastrophe losses in the quarter, we are particularly pleased with the strong contributions from our casualty reinsurance and specialty lines segments.
"Investment returns are also an increasingly important contributor to our earnings. Notwithstanding the approximately 50% reduction in our peak zone catastrophe exposures, we are well placed to produce attractive returns in 2006 and beyond."
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