Aspen to Establish Excess Casualty Insurance Unit

Business Wire, Oct 10, 2007

HAMILTON, Bermuda -- Aspen Insurance Holdings Limited (NYSE:AHL), announced today it is entering the Global Excess Casualty insurance market and is establishing a dedicated underwriting unit based in Dublin. The unit will focus on construction and global risk managed programmes. A notification has been made to the UK Financial Services Authority under a European passport, to establish a branch in Dublin. Aspen anticipates commencing underwriting by late November, subject to meeting the necessary regulatory requirements.

The team will be led by Bob Patten, who has more than 15 years of experience underwriting Excess Casualty. Bob joins Aspen on November 15, 2007.

Aspen anticipates that within three years the Dublin branch will generate gross written premiums of around $70 million and employ up to 10 staff.

Commenting on the announcement, Chris O'Kane, Chief Executive Officer of Aspen Insurance Holdings said: "The opening of the Dublin office reflects Aspen's strategy of continuing to selectively diversify our business portfolio and complements our existing operations in specialty casualty insurance within our Specialty Lines segment. I am delighted to welcome Bob and our new underwriting colleagues to Aspen."

About Aspen Insurance UK Limited ("Aspen Re")

Aspen Insurance UK Limited trades under the names of Aspen Insurance and Aspen Re, writing a range of specialty insurance and reinsurance lines. Aspen Re is a wholly owned subsidiary of Aspen Insurance Holdings Limited. For more information about Aspen Re, please visit www.aspen-re.com.

About Aspen Insurance Holdings Limited ("Aspen")

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 six months ended June 30, 2007, Aspen reported gross written premiums of $1.1 billion, net income of $236.6 million and total assets of $7.1 billion. 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 strategic growth. 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.

In the UK, ASPEN is a registered trade mark of Aspen (Actuaries & Pensions Consultants) plc of the UK and is used by Aspen Re under license. Aspen Re is a subsidiary of the Bermuda-based Aspen Insurance Holdings Limited ("AIHL"). AIHL and its subsidiaries are not affiliated in any way with Aspen (Actuaries & Pensions Consultants) plc of the UK.