AHL Aspen Insurance Holdings Limited Ordinary Shares

Aspen Insurance Holdings Limited (“Aspen”) (NYSE: AHL) today announced a new corporate structure whereby it will manage its insurance and reinsurance businesses under two separate brands, Aspen Insurance and Aspen Reinsurance, to enhance and better serve its global customer base. This will allow Aspen to place a greater emphasis on client service, with an increased focus on the regional markets in which it operates.

Under the reorganization, Aspen’s Insurance operations will comprise primarily its existing International Insurance and U.S. Insurance divisions. Rupert Villers, Global Head of Financial and Professional Lines Insurance, has been appointed CEO of Aspen Insurance. Bill Murray, President of Aspen’s US Insurance division will continue to lead Aspen’s US Insurance business. Aspen’s Reinsurance business will comprise three divisions, Property Reinsurance, Casualty Reinsurance and Specialty Reinsurance. Brian Boornazian has been appointed CEO of Aspen Reinsurance and James Few has been appointed President of Aspen Reinsurance.

“We are always looking for ways to best serve our clients and we believe creating two distinct identities for our insurance and reinsurance businesses will help to further enhance the excellent service our clients have come to expect from Aspen,” said Chris O’Kane, Aspen’s Chief Executive Officer.

As part of the reorganization, Julian Cusack will assume the role of Group Chief Risk Officer. Mr. Cusack previously served as Chief Operating Officer. Mr. Cusack will remain Chairman and Chief Executive Officer of Aspen Insurance Limited ('Aspen Bermuda'), roles he has held since November 2006 and June 2002, respectively. In addition, Mr. Cusack will continue to chair Aspen's Reserving Committee. As a result of the decentralization of responsibilities, the chief operating officer position at the group level will not be filled.

Commenting on Mr. Cusack’s new role, Chris O’Kane said: “Risk management is key to everything we do at Aspen and I am confident that under Julian’s leadership we will be able to take this to the next level.”

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, Ireland, Singapore, the United States, the United Kingdom, and Switzerland. For the nine months ended September 30, 2009, Aspen reported gross written premiums of $1,661.4 million, net income of $347.6 million and total assets of $8.2 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. For more information about Aspen, please visit 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 changes in personnel, reorganizations and its ability to execute its 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, 2008, filed with the U.S. Securities and Exchange Commission on February 26, 2009.

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