HAMILTON, Bermuda--(BUSINESS WIRE)--
Aspen Insurance Holdings Limited (“Aspen” or the “Company”)
(NYSE:AHL) today announced that it has initiated a search for a new
Chief Financial Officer to replace Richard Houghton, who will be leaving
the Company effective February 29, 2012 to pursue other opportunities.
Mr. Houghton will remain in his role through the Company’s filing of its
annual report on Form 10-K for the year ended December 31, 2011.
Julian Cusack, currently Chief Risk Officer of Aspen, will assume the
role of acting Chief Financial Officer pending the appointment of a
successor to Mr. Houghton. Prior to assuming his current role, Mr.
Cusack was the Chief Financial Officer of the Company from its inception
until April 2007. Stephen Postlewhite, currently Head of Risk, will
assume the role of acting Chief Risk Officer.
Chris O’Kane, Chief Executive Officer of Aspen, said: “Richard has been
an invaluable member of our Executive Management team for the past five
years. He joined us with a specific mandate to take forward our finance
and investment strategies and has accomplished this with considerable
success. He has also greatly enhanced our operational infrastructure by
overseeing numerous developments in our Human Resources and Information
Technology functions. I have enjoyed working with Richard very much and
thank him for his strong contribution to Aspen’s growth over the years.
We wish him well in his future endeavors.”
He added: “Julian has in-depth knowledge of the Company and has
previously performed this role with great success. We are fortunate to
have him serve as Interim Chief Financial Officer to ensure a seamless
transition, and I look forward to working with Julian again in this
capacity as we complete our search process.”
Ends
About Aspen Insurance Holdings Limited
Aspen provides reinsurance and insurance coverage to clients in various
domestic and global markets through wholly-owned subsidiaries and
offices in Bermuda, France, Germany, Ireland, Singapore, Switzerland,
the United Kingdom and the United States. For the year ended December
31, 2011, Aspen reported gross written premiums of $2,207.8 million, net
loss of $105.8 million and total assets of $9.5 billion. Its operating
subsidiaries have been assigned a rating of “A” (“Strong”) by Standard &
Poor’s, an “A” (“Excellent”) by A.M. Best and an “A2” (“Good”) by
Moody's Investors Service.
Application of the Safe Harbor of the Private Securities Litigation
Reform Act of 1995
This press release contains written, and Aspen's officers may make
related oral, “forward-looking statements” within the meaning of the
U.S. federal securities laws regarding its changes in personnel and
execution of its business plans. These statements are made pursuant to
the safe harbor provisions of the Private Securities Litigation Reform
Act of 1995. Forward-looking statements include all statements that do
not relate solely to historical or current facts, and can be identified
by the use of words such as “expect,” “intend,” “plan,” “believe,”
“project,” “anticipate,” “seek,” “will,” “estimate,” “may,” “continue,”
and similar expressions of a future or forward-looking nature. All
forward-looking statements rely on a number of assumptions, estimates
and data concerning future results and events and are subject to a
number of uncertainties and other factors, many of which are outside
Aspen’s control that could cause actual results to differ materially
from such statements, including changes in market conditions and their
impact on our business. For a detailed description of uncertainties and
other factors that could impact the forward-looking statements in this
release, please see the “Risk Factors” section in Aspen’s Annual Report
on Form 10-K for the year ended December 31, 2010, filed with the U.S.
Securities and Exchange Commission on February 25, 2011.
For further information
Please visit www.aspen.co
or contact:
Investors
Kerry Calaiaro, Senior Vice President, Investor
Relations, Aspen
Kerry.Calaiaro@aspen.co
+1
646 502 1076
or
Media
Tim Dickenson, Global Head
of Communications, Aspen
Tim.Dickenson@aspen.co
+44
20 7184 8034
or
Europe and Asia – Citigate Dewe Rogerson
Justin
Griffiths
Justin.Griffiths@citigatedr.co.uk
+44
20 7638 9571
or
North America – Abernathy MacGregor
Allyson
Morris
amv@abmac.com
+1 212
371 5999
Source: Aspen Insurance Holdings Limited