Aspen Insurance (NYSE:AHL)
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Aspen Insurance Holdings Comments on Impact of Hurricane Charley
HAMILTON, Bermuda, Aug. 16 /PRNewswire-FirstCall/ -- Aspen Insurance Holdings
Limited (NYSE:AHL)(BSX:AHLBSX:BH) today commented on the impact of Hurricane
Charley, a Category 4 hurricane that struck portions of Florida and other areas
of the eastern seaboard of the United States, commencing Friday, August 13,
2004.
As the storm has only recently occurred, the Company cannot determine at this
time the impact of Hurricane Charley on it and its subsidiaries. However, based
on a preliminary analysis, the potential losses from the storm are not expected
to have a material impact on the financial condition of the Company, but could
be material to its current results of operations.
About Aspen Insurance Holdings Limited
Aspen Insurance Holdings Limited (Aspen) was established in June 2002. Aspen is
a Bermudian holding company that provides property and casualty reinsurance in
the global market, property and liability insurance principally in the United
Kingdom and surplus lines insurance in the United States. Aspen's operations
are conducted through its wholly owned subsidiaries located in London, Bermuda
and the United States: Aspen Insurance UK Limited (Aspen Re), Aspen Insurance
Limited (Aspen), Aspen Specialty Insurance Company (Aspen Specialty) and Aspen
Re America Inc (Aspen Re America). Aspen's reinsurance segment consists of
property reinsurance, casualty reinsurance and specialty reinsurance lines of
business. Aspen's insurance segment consists of commercial property, commercial
liability and U.S. surplus insurance lines of business. Aspen's principal
existing shareholders include The Blackstone Group, Candover Partners Limited,
Wellington Underwriting plc and Credit Suisse First Boston Private Equity.
Application of the Safe Harbor of the Private Securities Litigation Reform
Act of 1995:
This press release contains forward-looking statements about the effect of
claims resulting from Hurricane Charley on the Company's results of operations
and financial position. These statements are subject to the Private Securities
Litigation Reform Act of 1995 and are based on management's current estimates,
assumptions and projections. Actual results may differ materially from those
projected in the forward-looking statements for a variety of reasons. Among
other things, these forward-looking statements could be affected by the number
of insureds affected by the hurricane, the information provided by Aspen's
cedents to Aspen, the amount and timing of losses actually incurred and
reported by insureds to insurers and subsequently to reinsurers such as Aspen,
the preliminary nature of reports and estimates of loss to date, and the amount
and timing of reinsurance recoverables and reimbursements actually received. We
undertake no obligation to publicly correct or update any forward-looking
statements.
DATASOURCE: Aspen Insurance Holdings Limited
CONTACT: Investors, Noah Fields, Head of Investor Relations, or Julian
Cusack, Chief Financial Officer, both of Aspen Insurance Holdings Limited,
+441-297-9382; or US, Carina Thate or Jason Thompson, both of The Abernathy
MacGregor Group, +1-212-371-5999, or UK, Emma Burdett or Brian Hudspith, both
of The Maitland Consultancy, +44-20-7379-5151, all for Aspen Insurance
Holdings Limited