Aspen Initiates Search For A New Chief Financial Officer To Succeed Richard Houghton; Julian Cusack To Serve As Interim

Aspen Insurance Holdings Limited (“Aspen” or the “Company”) (NYSE:AHL) today announced that it has initiated a search for a new Chief Financial Officer to replace Richard Houghton, who will be leaving the Company effective February 29, 2012 to pursue other opportunities. Mr. Houghton will remain in his role through the Company’s filing of its annual report on Form 10-K for the year ended December 31, 2011.

Julian Cusack, currently Chief Risk Officer of Aspen, will assume the role of acting Chief Financial Officer pending the appointment of a successor to Mr. Houghton. Prior to assuming his current role, Mr. Cusack was the Chief Financial Officer of the Company from its inception until April 2007. Stephen Postlewhite, currently Head of Risk, will assume the role of acting Chief Risk Officer.

Chris O’Kane, Chief Executive Officer of Aspen, said: “Richard has been an invaluable member of our Executive Management team for the past five years. He joined us with a specific mandate to take forward our finance and investment strategies and has accomplished this with considerable success. He has also greatly enhanced our operational infrastructure by overseeing numerous developments in our Human Resources and Information Technology functions. I have enjoyed working with Richard very much and thank him for his strong contribution to Aspen’s growth over the years. We wish him well in his future endeavors.”

He added: “Julian has in-depth knowledge of the Company and has previously performed this role with great success. We are fortunate to have him serve as Interim Chief Financial Officer to ensure a seamless transition, and I look forward to working with Julian again in this capacity as we complete our search process.”

Ends

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, 2011, Aspen reported gross written premiums of $2,207.8 million, net loss of $105.8 million and total assets of $9.5 billion. 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 written, and Aspen's officers may make related oral, “forward-looking statements” within the meaning of the U.S. federal securities laws regarding its changes in personnel and execution of its business plans. 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, including changes in market conditions and their impact on our business. 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, 2010, filed with the U.S. Securities and Exchange Commission on February 25, 2011.

For further information

Please visit www.aspen.co or contact:

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