Aspen Insurance reported that its third-quarter net income more than doubled to $122 million, up from $56.7 million in the same period last year due mainly to strong underwriting results and low catastrophe activity.
Net written premiums totaled $705.2 million, up 4.7%.
Aspen’s third-quarter combined ratio improved to 86.8%, from 95.2% a year ago.
“With market dynamics shifting, including increased competition across several lines of business, I am pleased that we recorded a significantly improved combined ratio,” Executive Chairman and Group CEO Mark Cloutier said in a statement.
Capital markets fee income rose 6.4% to $47 million. Net investment income was $81.7 million, up 2.6%.
Mr. Cloutier said that the acquisition of Aspen by Sompo, announced on August 27, is expected to close during the first half of 2026.