Aspen Insurance reported pretax profits of $115.1m for the first quarter of 2004, up from $22.3m for the first quarter of 2003.
For the company as a whole, profit after tax grew to $85m, up from $15.2m for the previous year. Gross written premiums increased from $577.7m to $640.2m for 2004.
Aspen also reported a combined ratio of 66% for the first quarter.
The company, which reports separately on its insurance and reinsurance operations, said gross written premiums for its reinsurance business were $558.9m for the first quarter, and a combined ratio of 61%.
For Aspen's insurance operations, gross written premiums grew to $81.3m, with a combined ratio of 81%.
Chief executive Chris O'Kane, said: “We had an outstanding quarter. Our well-rated portfolio continues to deliver strong returns and cash flow, starting us off on an excellent footing for 2004.
“I am confident that through our diversified portfolio, strong infrastructure and excellent people we can continue to extract the best possible returns.”
