Aspen Wins Award for ‘Best Use of IT in Insurance’ for ‘CATman’

Aspen Wins Award for ‘Best Use of IT in Insurance’ for ‘CATman’

Aspen Insurance Holdings Limited (”the Company”) (NYSE:AHL – News; BSX:AHL BH) is pleased to announce that “CATman”, Aspen’s innovative and proprietary catastrophe risk management tool designed to help manage exposures to catastrophes, won the award for “Best Use of Information Technology in Insurance” from Financial Sector Technology (”FST”) Magazine at their 2007 awards program in London.

The FST Awards recognize excellence and innovation in the field of IT within the UK and European financial services sector. In winning the award, Aspen demonstrated to the judges that the strategic use of CATman has brought the Company cost benefits, improved internal processes, enhanced customer service and helped further opportunities of future business success.

CATman is an efficient, robust and transparent web based-platform designed to manage catastrophe exposures and automate processes.

Upon receiving the Award, Lisa Gibbard, Head of IT said, “The catastrophes of 2004 and 2005 highlighted the critical need to thoroughly understand exposure and potential loss for any single catastrophe or a multiple of events. CATman demonstrates how Aspen continues to drive its internal processes forward through technology innovations that underpin the business.”

Oliver Peterken, Chief Risk Officer of Aspen added that, “What was once a very manual process is now a web-based application, reducing manual steps from 25 to two. The result is that the time to process Aspen’s catastrophe exposure in a reinsurance contract has been reduced nearly 90%, to just 30 minutes. This means that our staff spends less time processing data and more time analyzing it.”

“We operate in a very dynamic market which requires relentless innovation,” said Chris O’Kane, Chief Executive Officer of Aspen. “Aspen’s recognition from FST Magazine for our use of technology as a means of developing ongoing competitive advantages is very gratifying. Our award winning partnership between solutions-based technology and underwriting excellence will remain at the forefront of how Aspen approaches its business.”

About Aspen Insurance Holdings Limited

Aspen Insurance Holdings Limited 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 the United States and specialty insurance and reinsurance consisting mainly of marine and energy and aviation worldwide. Aspen’s operations are conducted through its wholly-owned subsidiaries located in London, Bermuda and the United States: Aspen Insurance UK Limited, Aspen Insurance Limited and Aspen Specialty Insurance Company. Aspen has four operating segments: property reinsurance, casualty reinsurance, specialty insurance and reinsurance and property and casualty insurance. For more information about Aspen, please visit the Company’s website at www.aspen.bm.

Contact:
Aspen Insurance Holdings Limited, Hamilton
Investor Contact:
Noah Fields, Head of Investor Relations, 441-297-9382
or
Tania Kerno, Head of Communications, 44 (0) 20 7184 8855
or
European Press Contact:
The Maitland Consultancy
Peter Ogden or Brian Hudspith, 44 (0) 20 7379 5151
or
North American Press Contact:
Abernathy MacGregor or Eliza Johnson, 212-371-5999