Aspen Appoints Brian Boornazian to Head of Reinsurance

Hamilton, Bermuda: June 7, 2006 - Aspen Insurance Holdings Limited ("Aspen") (NYSE: AHL) (BSX: AHL.BH) named Brian Boornazian to the newly created position of Head of Reinsurance of Aspen.  Mr. Boornazian will retain his current position as President of Aspen Re America as well as its associated responsibilities.  He will continue to report directly to Aspen's Chief Executive Officer, Chris O'Kane.  

As Head of Reinsurance, Mr. Boornazian will be responsible for the global management of property and casualty product lines across Aspen's reinsurance operations, coordinating business planning, risk management and development of business opportunities.  Mr. Boornazian will bring Aspen's reinsurance businesses together into a streamlined reporting line, enhancing efficiencies across the segments.

Mr. O'Kane commented: "We are fortunate that an executive with Brian's depth of underwriting expertise and management experience is leading Aspen's worldwide reinsurance operations.  I am confident that he will help strengthen our ability to pursue global growth opportunities, leveraging our sophisticated modeling and diverse reinsurance platform."

Mr. Boornazian joined Aspen in January 2004 as President of Aspen Re America, Property Reinsurance.  He has served as President, Aspen Re America since October 2005.  Prior to joining Aspen, Mr. Boornazian acted in several capacities at XL Re America, and most recently was Senior Vice President, Chief Property Officer with responsibility for Property Treaty, Property Facultative, Ocean Marine and Multi-Line.  Mr. Boornazian previously has held positions with General Reinsurance, Guy Carpenter and Cologne Re of America.  He has a B.A. in Economics from Fairfield University.

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 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.

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Contacts:

Aspen Insurance Holdings Limited:                       T  +1 441-297-9382    

Noah Fields, Head of Investor Relations                      

North American Contact:

The Abernathy MacGregor Group              T  +1 212 371 5999

Carina Davidson

Eliza Johnson

European Contact:

The Maitland Consultancy                             T  +44 20 7379 5151

Brian Hudspith

Michelle Jeffrey