The chief executive of Aspen Insurance Holdings cautioned against trumpeting the end of the soft market during an earnings conference call this morning, also reporting a quarterly net loss figure of $116.7 million for Aspen.
Aspen's net loss for the quarter, amounting to $1.02 per share, was largely attributable to $155 million in net losses from Hurricanes Ike and Gustav, and negative performance on an investment in a fund of hedge funds.
In third-quarter 2007, Aspen reported nearly the same magnitude of income on its bottom line–$117.2 million, or $1.12 per share.
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