HAMILTON, Bermuda--(BUSINESS WIRE)--
Aspen Insurance Holdings Limited (“Aspen”) (NYSE: AHL) announced today
an adjustment to the conversion rate on its 5.625% Perpetual Preferred
Income Equity Replacement Securities (Perpetual PIERS) in connection
with its previously announced dividends payable on May 25, 2012, August
28, 2012, November 26, 2012 and March 7, 2013. As a result of these
dividends, the conversion rate was adjusted to 1.7121 shares of Aspen’s
ordinary shares per $50 liquidation preference of the Perpetual PIERS.
The adjusted conversion rate is equivalent to an adjusted conversion
price of $29.20 per share. The original conversion rate was 1.7077 of
Aspen’s ordinary shares, equivalent to an original conversion price of
$29.28.
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, 2012, Aspen reported $10.3 billion in total assets, $4.8 billion in
gross reserves, $3.5 billion in shareholders’ equity, and $2.6 billion
in gross written premiums. 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 "forward-looking" statements regarding
future results and events, including, without limitation, statements
regarding the Company's securities and their conversion into ordinary
shares. 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 our ability to consummate the
transactions contemplated by the terms of the accelerated share
repurchase agreement, the share price and share volumes which may impact
timing of repurchases, changes in market conditions and the impact on
our business of such factors. For a detailed description of
uncertainties and other factors that could impact the forward-looking
statements in this press release, please see the “Risk Factors” section
in Aspen’s Annual Report on Form 10-K for the year ended December 31,
2012, filed with the U.S. Securities and Exchange Commission on February
26, 2013. Aspen undertakes no obligation to update or revise publicly
any forward-looking statements, whether as a result of new information,
future events or otherwise.
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
Steve Colton, Head of
Communications, Aspen
Steve.Colton@aspen.co
+44
20 7184 8337
or
International – Citigate Dewe Rogerson
Caroline
Merrell or Jos Bieneman
caroline.merrell@citigatedr.co.uk
jos.bieneman@citigatedr.co.uk
+44
20 7638 9571
or
North America – Abernathy MacGregor
Allyson
Vento
amv@abmac.com
+1 212
371 5999
Source: Aspen Insurance Holdings Limited