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Aspen Insurance Appoints Head of Political Risk

17 December 2007

Hamilton, Bermuda: December 17, 2007 -- Aspen Insurance Holdings Limited (NYSE:AHL) has appointed Bernard de Haldevang as Head of Political Risk Insurance with immediate effect. In this newly formed role, Bernard reports directly to Matthew Yeldham, Aspen's Head of International Insurance. Aspen anticipates that gross written premium from this new line of business will be in the region of $70 million after three years subject to market conditions.

Bernard has over 20 years of experience of underwriting political risk insurance and joins Aspen from Atrium Underwriting, Lloyd's of London, where he was a member of the Syndicate Management Group and Class Underwriter for Financial and Political Risks.

"I am very pleased to welcome Bernie to Aspen," said Matthew Yeldham, Head of International Insurance for Aspen. "He has a strong underwriting track-record, excellent relationships in the industry and I am looking forward to working with him."

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, the United States, the United Kingdom, and Switzerland. For the nine months ended September 30, 2007, Aspen reported gross written premiums of $1.5 billion, net income of $353.8 million and total assets of $7.3 billion. For more information about Aspen, please visit www.aspen.bm.

Aspen's Ratings

Aspen Insurance UK Limited             Aspen Insurance Limited
A (Strong) Standard & Poor's A (Strong) Standard & Poor's
A (Excellent) A. M. Best                    A (Excellent) A. M. Best
A2 (Good) Moody's                                   A2 (Good) Moody's

Aspen Specialty Insurance Company
A- (Excellent) A. M. Best

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 appointment of new hires and the direction and growth of the Company. 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.