Aspen Insurance Holdings Announces $150 million Accelerated Share Repurchase Program

  Aspen Insurance Holdings Announces $150 million Accelerated Share Repurchase
  Program

Business Wire

HAMILTON, Bermuda -- February 26, 2013

Aspen Insurance Holdings Limited (“Aspen” or "the Company") (NYSE: AHL) today
announces that it has entered into an Accelerated Share Repurchase (“ASR”)
agreement with Goldman, Sachs & Co. (“Goldman”) to repurchase an aggregate of
$150 million of Aspen's ordinary shares under an accelerated share repurchase
program. From January 1 through February 26, 2013, Aspen also repurchased
approximately $47 million of its ordinary shares in the open market.

Under the ASR agreement, Aspen will pay $150 million to Goldman in exchange
for Aspen’s ordinary shares. Aspen expects the substantial majority of shares
to be delivered on March 1, 2013. The total number of shares ultimately
repurchased under the agreement will be determined based on a discount to the
average daily volume-weighted average price of Aspen’s ordinary shares during
the ASR period. At settlement, Goldman may be obligated to deliver additional
shares to Aspen, or Aspen may be obligated to make a delivery of shares or a
payment of cash to Goldman, at Aspen's election. Aspen anticipates that all
repurchases under the ASR will be completed no later than October 3, 2013.

Based on Aspen's closing share price on February 26, 2013, the ASR program and
the completed open market share repurchases from January 1, 2013 together
represent approximately 8 per cent of the Company's current total market
capitalization. Aspen will have approximately $335 million remaining under its
current $500 million share repurchase program authorized by the Board of
Directors and announced on February 7, 2013. The ordinary shares will be
retired once repurchased.

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, 2012, Aspen reported
$10.3 billion in total assets, $4.8 billion in gross reserves, $3.5 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 Investors Service.

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
Company's intention to repurchase its ordinary shares from time to time under
the Company’s share repurchase program, the timing and amounts of repurchases,
the intended use of any repurchased shares and the source of funding for the
share repurchase program. 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,
including our ability to consummate the transactions contemplated by the terms
of the accelerated share repurchase agreement, the share price and share
volumes which may impact timing of repurchases, changes in market conditions
and the impact on our business of such factors. 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, 2012, filed
with the U.S. Securities and Exchange Commission on February 26, 2013. Aspen
undertakes no obligation to update or revise publicly any forward-looking
statements, whether as a result of new information, future events or
otherwise.

For further information
Please visit www.aspen.co

Contact:

Investors
Aspen
Kerry Calaiaro, +1 646-502-1076
Senior Vice President, Investor Relations
Kerry.Calaiaro@aspen.co
or
Media
Aspen
Steve Colton, +44 20 7184 8337
Head of Communications
Steve.Colton@aspen.co
or
International – Citigate Dewe Rogerson
Caroline Merrell or Jos Bieneman, +44 20 7638 9571
caroline.merrell@citigatedr.co.uk
jos.bieneman@citigatedr.co.uk
or
North America – Abernathy MacGregor
Allyson Vento, +1 212-371-5999
amv@abmac.com
 
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