Aspen Launches Efficiency Program Post Q3 Financial Results

Aspen recently launched a “comprehensive program to drive greater effectiveness and efficiency across the company and enhance its market position” . “Aspen is a diversified, global company with a strong balance sheet and specialty underwriters across many lines of business. Over the past 15 years, we have developed an underwriting-focused culture that provides creative solutions to our clients and brokers. Today we are announcing a program that will elevate the effectiveness and efficiency of our operating platform and position us for continued success in the future” – CEO Chris O’Kane. This Chris:

The program is expected to deliver cumulative total expense savings of approximately $160 million over the next three years. “As a result of this program, we believe Aspen will be a more nimble organization with faster decision-making ability, a competitive expense ratio and the ability to serve our clients even better than we do today” – Chris O’Kane.

The news follows a troubling third quarter, in which the company reported a net loss after tax of $(253.8) million and an operating loss after tax of $(276.6) million for Q3, 2017.

PS. Last 3 Glassdoor reviews below: