Aspen amends IPO filing

Re/insurer Aspen Insurance Group has filed a new Initial public offering prospectus, signalling it may sell its shares to the public in 2025. 

Bermuda-based Aspen, which was taken private by Apollo Global Management in 2019, filed for an IPO in late 2023 but later paused the process due to market conditions. 

The company, headed by executive chairman and chief executive officer Mark Cloutier (pictured),  amended its F-1 registration form with the Securities and Exchange Commission. 

The filing said it still plans to list its shares on the New York Stock Exchange. 

For the three months ended September 30, 2024, Aspen recorded net income of $56.7 million compared to $86.3 million in the same period in 2023. 

For the first three quarters of 2024, the company earned $237.5 million compared to $305.2 million. 

Apollo took Aspen private in 2019 for $2.4 billion, and was reported to be hoping to take the company public for $4 billion. At September 30, it had shareholders' equity of $3.02 billion. 

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