HAMILTON, Bermuda--(BUSINESS WIRE)--
Aspen Insurance Holdings Limited (“Aspen”) (NYSE:AHL) announced today
that Scott Kirk has been promoted to the position of Group Chief
Financial Officer of the Company, effective immediately. His appointment
is subject to receipt of customary regulatory approvals. Scott Kirk
succeeds John Worth, who will be leaving Aspen.
Aspen’s Chief Executive Officer, Chris O’Kane, said: “I’m pleased to
announce Scott’s promotion to the position of Group CFO. Over the course
of the seven years that Scott has been at Aspen, he has proven to be a
highly talented strategic thinker and key financial leader, both in his
Group roles as Group Financial Controller and Group Head of Finance, and
most recently as CFO of Aspen’s insurance business. As CFO of Aspen
Insurance, he has played an integral role in a number of value-creating
initiatives, including the successful growth of Aspen’s U.S. Insurance
operation. We are excited that Scott is taking on this new role at Aspen.
“Aspen continues to perform well and we remain on track to achieve an
operating return on equity comfortably in excess of 10% in 2014,
assuming normal loss experience, as well as our longer-term outlook of
operating return on equity of 11% in 2015 and between 11% and 12% in
2016 (1). Scott is a strong financial leader and will play a key role as
we continue to execute on our strategic plan and build value for
shareholders.”
Chris O’Kane added: “John Worth has made a valuable contribution to
Aspen and in particular strengthened the operational side of our Finance
function and enhanced our expense discipline. We would like to thank him
for what he has done for Aspen and we wish him all the best in his
future endeavors.”
Notes to Editors:
About Scott Kirk
Scott Kirk joined Aspen as the Group Financial Controller in 2007 and
then assumed the role of Group Head of Finance in 2009, until becoming
the CFO of Aspen's insurance business, Aspen Insurance, in 2011. Before
joining Aspen, Scott spent seven years in senior finance positions in
various insurance companies. He started his career as an auditor at
KPMG, Brisbane, and is a member of the Institute of Chartered
Accountants in both England and Wales and Australia.
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, 2013, Aspen reported $10.2 billion in total assets, $4.7 billion in
gross reserves, $3.3 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.
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 appointment of personnel and achievement of Aspen’s
business plans and strategies. 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,” “do not believe,” “aim,” “project,” “anticipate,”
“seek,” “will,” “likely,” “assume,” “estimate,” “may,” “continue,”
“guidance,” “objective,” “outlook,” “trends,” “future,” “could,”
“would,” “should,” “target” 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. 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,
2013 filed with the U.S. Securities and Exchange Commission on February
20, 2014. Aspen undertakes no obligation to update or revise publicly
any forward-looking statements, whether as a result of new information,
future events or otherwise.
(1) The outlook for 2015 and 2016 assumes normal loss experience and the
current insurance rate environment. Our outlook in 2015 and 2016 in
particular is necessarily subject to heightened sensitivity in relation
to assumptions which are likely to be the subject of future change,
amendment, update and review, as necessary. For example, our assumptions
for rising interest rates in 2015 and 2016 are subject to and dependent
upon the anticipated and actual monetary policy decisions taken by the
central banks in the jurisdictions in which we operate. Our assumptions
are also based on the retention of our senior underwriters and client
relationships. In addition, the models underlying our normal loss
experience assumptions will produce different illustrative loss patterns
if the modeling assumptions are changed. While recent decreases in
pricing in certain business lines, if sustained, are expected to have an
adverse effect on operating return on equity, Aspen continues to
identify actions in each of its three operating return on equity levers
- optimization of the business portfolio, capital efficiency and
enhancing investment returns - to help mitigate the impact of pricing
declines on operating return on equity.
Please visit www.aspen.co
or contact:
Investors
Aspen
Kerry Calaiaro,
+1-646-502-1076
Senior Vice President, Investor Relations
Kerry.Calaiaro@aspen.co
or
Kathleen
de Guzman, +1-646-289-4912
Vice President, Investor Relations
kathleen.deguzman@aspen.co
or
Media
Steve
Colton, +44 20 7184 8337
Head of Communications
Steve.Colton@aspen.co
or
International
– Citigate Dewe Rogerson
Caroline Merrell or Jos Bieneman
+44
20 7638 9571
caroline.merrell@citigatedr.co.uk
jos.bieneman@citigatedr.co.uk
or
North
America – Abernathy MacGregor
Carina Davidson or Allyson Vento
+1-212-371-5999
ccd@abmac.com
amv@abmac.com
Source: Aspen Insurance Holdings Limited