Aspen's 2020 loss shrinks to $40.1mn after expenses fall
Aspen reported a net loss of $40.1mn in 2020 due to above-average catastrophe losses and Covid-19 losses, but the deficit was a sixth of the size of the 2019 loss after expenses fell.
In 2019 the business fell to a loss of $241.7m, driven by an underwriting loss of $195.1mn and major non-operating expenses, as the business began a turnaround effort under new CEO Mark Cloutier.
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