Aspen Appoints Richard Houghton Chief Financial Officer
Published April 9th, 2007
Aspen Insurance Holdings Limited (”Aspen”) (NYSE:AHL) (BSX:AHL BH) today announced the appointment of Richard Houghton as Chief Financial Officer, effective April 30th, 2007. Mr. Houghton will report to Chris O’Kane, Aspen’s Chief Executive Officer.
Mr. Houghton joins Aspen from Royal Bank of Scotland Group plc (“RBS”), where he was Chief Operating Officer, RBS Insurance since 2005 responsible for driving operational efficiency and excellence across the finance, IT, risk, HR, claims and actuarial functions of this division, which generated over $1.8 billion in annual profits. Previously, he was Group Finance Director RBS Insurance. Mr. Houghton was also Group Finance Director of Ulster Bank, another subsidiary of RBS. He began his professional career as an accountant at Deloitte & Touche where he spent 10 years working in audit, corporate finance recovery. He is a Fellow of the Institute of Chartered Accountants in England and Wales.
Commenting on the appointment, Chris O’Kane, Aspen’s Chief Executive Officer said: “I am very pleased that Richard is joining Aspen as CFO. Aspen, which is celebrating its fifth anniversary this summer, is moving into the next phase of its development. And the experience Richard brings will complement and broaden our capabilities for the challenges and opportunities ahead.”
“I would also like to thank Julian Cusack for his invaluable contribution as CFO since the creation of Aspen in 2002. Julian has been instrumental in shaping Aspen and ensuring our strong financial footing. I look forward to continuing to work closely with him in his role as Chairman and CEO of AIL.”
Richard Houghton said: “I welcome the opportunity to join Aspen at such a dynamic point in the Company’s evolution and look forward to working with the entire Aspen team as we continue to create value for our shareholders.”
About Aspen Insurance Holdings Limited
Aspen Insurance Holdings Limited 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 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.
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