Aspen Insurance (NYSE:AHL)
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Aspen Insurance Holdings Limited Announces Offering of Ordinary
Shares by Certain Shareholders
HAMILTON, Bermuda, March 14 /PRNewswire-FirstCall/ -- Aspen Insurance Holdings
Limited ("Aspen") (NYSE:AHL)(BSX:AHLBSX:BH) today announced the commencement of
an offering of its ordinary shares by certain of its founding shareholders. The
offering follows receipt of a registration request dated March 7, 2005.
The selling shareholders have informed Aspen that they intend to offer for sale
up to 5,800,000 ordinary shares, with an additional 870,000 ordinary shares
available for purchase by the underwriters to cover over-allotments. All the
ordinary shares being sold in this offering are being sold by the selling
shareholders. Aspen will not receive any proceeds from this offering.
Credit Suisse First Boston and Deutsche Bank Securities are acting as joint
book-running managers for the offering. Morgan Stanley is acting as joint lead
manager, and Goldman, Sachs & Co., Dowling & Partners Securities, Fox-Pitt,
Kelton and Keefe, Bruyette & Wood are acting as co-managers for the offering.
A registration statement relating to these securities has been filed with the
Securities and Exchange Commission and became effective on March 3, 2005. This
press release shall not constitute an offer to sell or the solicitation of an
offer to buy nor shall there be any sale of these securities in any state in
which such offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state.
A written prospectus meeting the requirements of Section 10 of the Securities
Act of 1933 may be obtained from by contacting Credit Suisse First Boston LLC,
Prospectus Department, One Madison Avenue, Level 1B, New York, NY 10010 or by
faxing a request to 212-325-8057 or Deutsche Bank Securities, 60 Wall Street,
New York, NY 10005.
About Aspen Insurance Holdings Limited
Aspen Insurance Holdings Limited commenced operations 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, marine and aviation, 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, and Aspen's earnings conference call may contain,
written or oral "forward-looking statements" within the meaning of the U.S.
federal securities laws. 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 concerning
future events and are subject to a number of uncertainties and other factors,
many of which are outside the Company's control that could cause actual results
to differ materially from such statements. For a more detailed description of
these uncertainties and other factors, please see the "Risk Factors" section in
Aspen's Annual Report on Form 10-K for the year ended December 31, 2004, filed
with the U.S. Securities and Exchange Commission on March 14, 2005.
DATASOURCE: Aspen Insurance Holdings Limited
CONTACT: Noah Fields, Head of Investor Relations, Aspen Insurance
Holdings Limited, +1-441-297-9382; or UK: Emma Burdett, Brian Hudspith, both
of The Maitland Consultancy, +44-20-7379-5151; or US: Carina Thate, Jason
Thompson, both of The Abernathy MacGregor Group, +1-212-371-5999, all for
Aspen Insurance Holdings Limited