Aspen Appoints Albert Beer to Board of Directors
05 November 2010 - 5:00AM
Business Wire
Aspen Insurance Holdings Limited (“Aspen”) (NYSE: AHL) today
announced that the Company’s Board of Directors (“the Board”) has
appointed Mr. Albert J. Beer to the Board in a non-executive
capacity with effect from February 1, 2011. Mr. Beer has also been
appointed to the Risk Committee and the Audit Committee, where he
will serve as an additional financial expert.
Mr. Glyn Jones, Chairman of the Board commented: “I am delighted
that Al has agreed to join Aspen’s board of directors. Al is a
seasoned industry executive with an impressive track record built
up over many years. In addition, as Chair of the Actuarial
Standards Board and a board member of the Casualty Actuary Society,
Al brings extensive technical knowledge to an important area of
focus for our Audit and Risk Committees. I am sure that Al
will add greatly to Aspen’s board discussions and we
look forward to working with him.”
Mr. Beer is a former Executive Vice President of American
Re-Insurance Corporation (Munich Re America). During his time at
American Re, Mr. Beer also served as President, Strategic Business
Units of American Re-Insurance Company, Chairman, President and CEO
of American Alternative Insurance Company and Chairman, President
and CEO of Princeton Excess and Surplus Lines Insurance Company.
Mr. Beer is the current Chair of the Actuarial Standards Board and
the Michael J. Kevany/XL Professor of Insurance and Actuarial
Science at St. John’s University, New York.
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 States and the United Kingdom.
For the twelve months ended December 31, 2009, Aspen reported gross
written premiums of $2,067.1 million, net income of $473.9 million
and total assets of $8.3 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. For more information about Aspen, please visit
www.aspen.bm.
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 appointment of
personnel, establishment of new offices and its ability to execute
its business lines and grow certain lines. 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, 2009, filed with the U.S. Securities
and Exchange Commission on February 26, 2010.
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