Aspen Insurance Posts Higher Q1 Profit; Boosts Dividend

(RTTNews) - Aspen Insurance Holdings Ltd. (AHL) reported net income for the first quarter of $120.4 million or $1.66 per share, compared to $91.8 million or $1.15 per share for the year-ago quarter.

Operating earnings for the quarter increased to $1.55 per share from $1.06 per share for the first quarter of 2013.

Analysts polled by Thomson Reuters expected the company to earn $1.07 per share for the first quarter. Analysts' estimates typically exclude special items.

Gross written premiums increased overall by 10.6% to $855.5 million in the first quarter of 2014 from the first quarter of 2013. Gross written premiums in Reinsurance and Insurance increased by 7.4% and 14.8% respectively from the first quarter of 2013.

The company said its Board of Directors has declared a quarterly cash dividend of $0.20 per share. The amount payable increased by 11.1% from Aspen's previous quarterly dividend of $0.18 per share.