Aspen Promotes Cusack, Houghton

Bermuda’s Aspen Insurance Holdings Limited announced the promotion of Julian Cusack to the role of Chief Operating Officer. He assumes responsibility for Aspen’ s Actuarial, Risk Management, Compliance and Legal departments. He will also continue as Chairman and CEO of Aspen Insurance Limited (Aspen Bermuda), posts he has held since November 2006 and June 2002 respectively, and will continue to chair Aspen’ s Reserving Committee and maintain responsibility for certain special projects.

The Company also announced that CFO Richard Houghton will assume additional responsibilities for operational oversight of Aspen’s Human Resources, Information Technology and Insurance/Reinsurance Claims departments.

Both men will continue to report to Aspen CEO Chris O’Kane.

Aspen’s bulletin explained that Cusack’s and Houghton’s promotions “follow the decision by Mr. Stuart Sinclair, President and Chief Operating Office of Aspen, to resign effective as of April 17, 2008 in order to pursue other business and personal opportunities.”

O’Kane congratulated Cusack on his new appointment, adding that he has been an “instrumental figure in Aspen’s development since the Company’s inception.” O’Kane also noted his confidence in Houghton’s experience to do well in his expanded role. He also lauded Sinclair’s achievements on behalf of the Company, notably for his work in putting in place the “necessary infrastructure to support our expansion in Europe and reorganization in the United States.” He wished Sinclair “all the very best in his future endeavors.”

Source: Aspen Insurance Holdings – www.aspen.bm