AHL Aspen Insurance Holdings Limited Ordinary Shares

Switzerland to be hub of European expansion LONDON, June 14 /PRNewswire/ -- Aspen Re, a subsidiary of Aspen Insurance Holding Limited (NYSE:AHL), today announced the launch of Aspen Re in Europe and its plan to open a major office in continental Europe. The office, to be based in Zurich, will act as the hub for Aspen's European reinsurance activity. This move is strategically important for Aspen Re as Europe is the second largest insurance buyer in the world after the United States. Furthermore, Zurich is one of the major financial centres in Europe and a key location for many insurance companies, making it increasingly important to have a physical presence close to where clients do their business. Aspen Re Europe represents the first time Aspen has established a dedicated operation to pursue all lines of business in continental Europe. In line with Aspen Re's commitment to offer the best possible service to its clients, the new operation will be structured as a one-stop shop, integrating all lines of business such as Property and Casualty reinsurance under a single platform and business plan. Aspen Re's new Europe hub will be headed by Jacopo D'antonio, President and Chief Underwriting Officer. Jacopo has 16 years experience in the insurance and reinsurance industry. He has been with Aspen since its inception in 2002, having joined from Wellington's Syndicate 2020 at Lloyd's in 2001, where he was part of the team that set up Aspen Re and was later appointed Head of Property Reinsurance in London and Head of Reinsurance Business Development in Europe. Prior to this Jacopo was with Generali Group, where he was deputy head of the inwards treaty department with direct responsibility for Northern and Southern Europe, and the Generali branch in Singapore. He also sat on the London Market Legal Committee dealing with European integration and the reinsurance industry. Aspen Re anticipates that the Swiss branch will employ up to 20 people in the next two years. Commenting on the announcement, Chris O'Kane, Chief Executive Officer of Aspen Insurance Holdings said: "The planned launch of Aspen Re in Europe and the opening of our Zurich office are the first steps to Aspen expanding its European footprint and positioning ourselves to take advantage of the numerous opportunities we see on the Continent. This will enable us to provide an enhanced and localised service to our European clients, and a solid base from which we can access countries in Central and Eastern Europe which are experiencing strong economic growth and, as a result, significant demand for insurance." About Aspen Insurance UK Limited ("Aspen Re") Aspen Insurance UK Limited was established in London in June 2002 to serve the needs of the London and wider UK insurance market. It is the largest business in the Aspen Group. The company trades under the names of Aspen Insurance and Aspen Re, writing a range of specialty insurance and reinsurance lines respectively Aspen Insurance UK Limited is a wholly owned subsidiary of Aspen Insurance Holdings Limited. For more information about Aspen Re, please visit http://www.aspen-re.com/. About Aspen Insurance Holdings Limited Aspen Insurance Holdings Limited was established in June 2002. Aspen is a Bermudian holding company that provides property and casualty reinsurance in the global market, property and liability insurance principally in the United Kingdom and the United States and specialty insurance and reinsurance consisting mainly of marine, liability and energy and aviation worldwide. Aspen's operations are conducted through its wholly-owned subsidiaries located in London, Bermuda and the United States: Aspen Insurance UK Limited, Aspen Insurance Limited and Aspen Specialty Insurance Company. Aspen has four operating segments: property reinsurance, casualty reinsurance, specialty insurance and reinsurance and property and casualty insurance. Aspen's principal existing founding shareholders include The Blackstone Group, Candover Partners Limited and Credit Suisse First Boston Private Equity. For more information about Aspen, please visit Aspen's website at http://www.aspen.bm/. 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 the status and implementation of Aspen's growth strategies. 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. 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, 2006, filed with the U.S. Securities and Exchange Commission on February 22, 2007. DATASOURCE: Aspen Re CONTACT: Tania Kerno, Head of Communications of Aspen Re, + 44 (0) 20 7184 8855; or Sarah Gestetner, Justin Griffiths, or Hannah Seward, all of Citigate Dewe Rogerson, +44 (0) 20 7638 9571, for Aspen Re; or Eliza Johnson of Abernathy MacGregor Group, +1-212-371-5999, for Aspen Re Web site: http://www.aspen.bm/

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