A.M. Best Increases Rating of Aspen Insurance Limited and Maintains Rating of Aspen Insurance UK Limited with Stable Outlook
11 December 2007 - 12:00AM
Business Wire
Aspen Insurance Holdings Limited (NYSE:AHL) today announced that
A.M. Best has increased the financial strength rating of Aspen�s
Bermuda subsidiary, Aspen Insurance Limited, to �A� with a �Stable�
outlook, and affirmed the �A� rating of Aspen Insurance UK Limited
and upgraded the outlook to �Stable�. These actions harmonise the
ratings of both entities. According to A.M. Best the ratings
reflect the excellent financial strength of the consolidated Aspen
group, the operating performance of the Bermuda and UK companies,
anticipation of continued strong underwriting results, the strength
of the Aspen brand and its well diversified business model. Richard
Houghton, Chief Financial Officer of Aspen said, �We believe that
the �A� ratings from A.M. Best are important endorsements of
Aspen�s strategy and financial strength.� 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 its capital management plans, its
outlook and financial results. 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.
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