Aspen repurchase $100m shares from Candover

by David Masters

Story link: Aspen repurchase $100m shares from Candover

Bermuda-based Aspen Insurance Holdings Ltd. has announced that it has agreed to repurchase 4.1 million of its ordinary shares from management fund Candover Partners Ltd.

The repurchase, worth around $100 million, is part of Aspen’s $300 million share repurchase program. All shares repurchased will be retired.

Candover, one of Aspen’s founding shareholders, is to sell its 2 million remaining shares in an underwritten public offering.

Aspen’s CEO Chris O’Kane said Candover had been a ‘great owner’ and thanked them for all the support they had given.

Aspen provides property and casualty insurance among other services.