Aspen CEO Chris O’Kane Enters Into 10b5-1 Stock Trading Plan
HAMILTON, Bermuda--(BUSINESS WIRE)-- Aspen Insurance Holdings Limited (AHL) (Aspen) (NYSE:AHL) today announces that its Chief Executive Officer, Chris OKane, has entered into a plan that will authorize an agent to exercise stock options that are near expiration under a pre-arranged stock trading plan under Rule 10b5-1 of the US Securities and Exchange Act of 1934.
The plan, adopted by Chris OKane on June 12, 2012, will allow an agent to effect the exercise of Aspen stock options from time to time granted to him in August 2003 due to expire in August 2013. Under this plan, stock sales are intended to be spread over a period of time. Rule 10b5-1 allows corporate executives to adopt pre-arranged stock trading plans to buy or sell shares of company stock when they are not in possession of material, non-public information.
Aspen provides reinsurance and insurance coverage to clients in various domestic and global markets through wholly-owned subsidiaries and offices in Bermuda, France, Germany, Ireland, Singapore, Switzerland, the United Kingdom and the United States. For the year ended December 31, 2011, Aspen reported $9.5 billion in total assets, $4.5 billion in gross reserves, $3.2 billion in shareholders equity and $2.2 billion in gross written premiums. Its operating subsidiaries have been assigned a rating of A (Strong) by Standard & Poors, an A (Excellent) by A.M. Best and an A2 (Good) by Moodys Investors Service.
Application of the Safe Harbor of the Private Securities Litigation Reform Act of 1995
This press release may contain written forward-looking statements within the meaning of the US 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 results and events and are subject to a number of uncertainties and other factors, many of which are outside Aspens control that could cause actual results to differ materially from such statements, including changes in market conditions. For a detailed description of uncertainties and other factors that could impact the forward-looking statements in this press release, please see the Risk Factors section in Aspen's Annual Report on Form 10-K for the year ended December 31, 2011, filed with the US Securities and Exchange Commission on February 28, 2012. Aspen undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
For further information
Please visit www.aspen.co or contact:
Kerry Calaiaro, +1 646 502 1076
Senior Vice President, Investor Relations
Tim Dickenson, +44 20 7184 8034
Global Head of Communications
Europe and Asia Citigate Dewe Rogerson
Justin Griffiths, +44 20 7638 9571
North America Abernathy MacGregor
Allyson Vento, +1 212 371 5999
Source: Aspen Insurance Holdings LimitedCopyright Business Wire 2012