AHL Aspen Insurance Holdings Limited Ordinary Shares

Aspen Appoints Adrian Ballardie as Chief Risk Officer HAMILTON, Bermuda, March 15 /PRNewswire/ -- Aspen Insurance Holdings (NYSE: AHL) today announced that it has appointed Adrian Ballardie to the position of Chief Risk Officer. He will be based in London and report to Chris O'Kane, Chief Executive Officer. Mr. Ballardie will be responsible for managing underwriting risk at both the strategic and operational level. Mr. Ballardie brings close to 30 years of experience in underwriting and managing insurance and re-insurance lines of business in the London market. He most recently served as joint CEO of Axa Re UK's Corporate Solutions Services, where he was responsible for redefining and redirecting the underwriting philosophy and strategy. Chris O'Kane, Chief Executive Officer of Aspen said: "We are delighted to add such a talented and well respected industry executive to our team. Adrian's proven underwriting track record and extensive industry experience make him exceptionally suited for this position. We look forward to benefiting from his risk management expertise." Adrian Ballardie, Chief Risk Officer, said: "I am proud and excited to be joining Aspen during this important stage of growth for the company. In a short time period, Aspen has already established itself as a leader in key insurance and reinsurance lines and I look forward to working with the management team to build and strengthen its industry position." Mr. Ballardiejoined Axa Reinsurance UK Plc. in November 1991 as Director, Facultative Property Manager. He was promoted to General Manager in January 1997 and to Chief Executive Officer and Managing Director in July 1998. Prior to his career at Axa, he spent over 15 years in several senior underwriting positions in the UK insurance market, including St. Paul Fire and Marine Insurance, London Guarantee and Reinsurance Company Ltd. and Prudential Assurance Company Ltd About Aspen Insurance HoldingsLimited Aspen Insurance Holdings Limited (Aspen) 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 surplus lines insurance in the United States. 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's reinsurance segment consists of property reinsurance, casualty reinsurance and specialty reinsurance lines of business. Aspen's insurance segment consists of commercial property insurance and commercial liability insurance lines of business. Aspen's principal existing shareholders include The Blackstone Group, Candover Partners Limited, Credit Suisse First Boston Private Equity and Wellington Underwriting plc. This press release contains, and Aspen may from time to time make, written or oral "forward-looking statements" within the meaning of the U.S. federal securities laws. All forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties and other factors, many of which are outside of Aspen's control that could cause actual results to differ materially from such statements. For a detailed description of these uncertainties and other factors that could cause the actual results to differ, please see the "Risk Factors" section in Aspen's Registration Statement on Form F-1 with respect to the ordinary shares, filed with the U.S. Securities and Exchange Commission. DATASOURCE: Aspen Insurance Holdings Limited CONTACT: U.S. - Carina Thate or Erin Moore, both of The Abernathy MacGregor Group, +1-212-371-5999, for Aspen Insurance Holdings; or U.K. - Brian Hudspith of The Maitland Consultancy, +44-20-7379-5151; or Investor - Julian Cusack, Chief Financial Officer of Aspen Insurance Holdings Limited, +441-295-8201

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