Aspen Insurance Holdings Releases Q3 2011 Results (Excerpt)

Hamilton, Bermuda – 28 October, 2011 – Aspen Insurance Holdings Limited (“Aspen” or the “Company”; Ticker: NYSE:AHL; BSX: AHL.BH) reported net income after tax of $22.2 million or $0.23 per diluted share for the third quarter of 2011. Net income included $55 million or $0.75 per diluted share, of net losses resulting from the natural catastrophe events that occurred during the third quarter of 2011 and increases to loss estimates for the U.S. severe weather related events that occurred in the second quarter of 2011 and the Japan earthquake that occurred in the first quarter of 2011.

Operating income was $56.5 million or $0.70 per diluted share in the third quarter of 2011 compared with $72.0 million or $0.79 per diluted share for the same period last year.

Diluted book value per share was $38.27 at September 30, 2011 compared to $38.22 at September 30, 2010.

Chris O’Kane, Chief Executive Officer said, “This was a quarter dominated by macroeconomic issues ranging from the U.S. debt ceiling negotiations in Washington to concerns over European sovereign debt, the Eurozone and the future of the Euro. In addition, 2011 has continued to be a year of exceptional frequency of catastrophe losses, which we now estimate at $95 billion of worldwide industry insured losses year to date. Against this backdrop, we are pleased to have increased book value per share by just over 2% to $38.27 in the quarter. We also achieved an annualized operating return on equity of 8.4%, which we view as further evidence of the robustness of our diversified model and vindication of our measured appetite for underwriting risk.”

The full text of this press release can be found at www.aspen.bm

About Aspen Insurance Holdings Limited

The Company 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 twelve months ended December 31, 2010, The Company reported gross written premiums of $2,076.8 million, net income of $312.7 million and total assets of $8.8 billion. Its operating subsidiaries have been assigned a financial strength rating of “A” (“Strong”) by Standard & Poor's, an “A” (“Excellent”) by A.M. Best and an “A2” (“Good”) by Moody's Investors Service.  

CONTACT:

Investor Contacts:

Aspen Insurance Holdings Limited

Kerry Calaiaro, Senior Vice President, Investor Relations     T: +1 646 502 1076

Kerry.Calaiaro@aspen.bm

European Press Contact:

Citigate Dewe Rogerson

Justin Griffiths/Sarah Gestetner         T: +44 (0) 20 7282 2920

North American Press Contact:

Abernathy MacGregor

Carina Davidson/Allyson Morris         T: +1 212 371 5999