Aspen Insurance Holdings Limited reported 2007fourth quarter net income of $135.2 million, an increase of 20 percent over the same quarter last year. Full year net income was $489 million, up 29.3 percent from 2006.

The Hamilton, Bermuda-based company reported $1.44 per diluted ordinary share. Diluted operating income per share is $1.47 compared to $1.22 in the fourth quarter of 2006.

Aspen's combined ratio deteriorated by 2.6 points to 79.4, compared to 76.8 in the prior year period. Annualized operating return on average equity increased to 23.2 percent from 22.8 percent in the fourth quarter of 2006. Book value per share increased 25.1 percent, to $27.95.

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