Aspen Insurance Holdings Limited (“Aspen”) (NYSE:AHL) today announces that its Chief Executive Officer, Chris O’Kane, has entered into a plan that will authorize an agent to exercise stock options that are near expiration under a pre-arranged stock trading plan under Rule 10b5-1 of the US Securities and Exchange Act of 1934.
The plan, adopted by Chris O’Kane on June 12, 2012, will allow an agent to effect the exercise of Aspen stock options from time to time granted to him in August 2003 due to expire in August 2013. Under this plan, stock sales are intended to be spread over a period of time. Rule 10b5-1 allows corporate executives to adopt pre-arranged stock trading plans to buy or sell shares of company stock when they are not in possession of material, non-public information.
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, 2011, Aspen reported $9.5 billion in total assets, $4.5 billion in gross reserves, $3.2 billion in shareholders’ equity and $2.2 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.
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