Aspen Names Scott Kirk Chief Financial Officer
December 05 2014 - 8:38AM
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:InvestorsAspenKerry
Calaiaro, +1-646-502-1076Senior Vice President, Investor
RelationsKerry.Calaiaro@aspen.coorKathleen de Guzman,
+1-646-289-4912Vice President, Investor
Relationskathleen.deguzman@aspen.coorMediaSteve Colton, +44
20 7184 8337Head of
CommunicationsSteve.Colton@aspen.coorInternational – Citigate Dewe
RogersonCaroline Merrell or Jos Bieneman+44 20 7638
9571caroline.merrell@citigatedr.co.ukjos.bieneman@citigatedr.co.ukorNorth
America – Abernathy MacGregorCarina Davidson or Allyson
Vento+1-212-371-5999ccd@abmac.comamv@abmac.com
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