Endurance responds to Aspen 'combative position' on exchange offer Endurance Specialty Holdings (ENH) said that Aspen Insurance Holdings' (AHL) "combative response" to the commencement of an exchange offer by Endurance "confirms the importance of the actions it is taking to give Aspen shareholders a voice in order to make their views known, to urge Aspen to come to the negotiating table, and to hold the Aspen board accountable for its actions." Endurance believes that the assertions Aspen made today in its filings with the SEC are "misguided, reflect misstatements in order to further the Aspen board and management's entrenching agenda and are misleading to shareholders." Endurance Chairman and CEO John Charman urged Aspen shareholders to speak forcefully by supporting its two shareholder proposals - calling for a special general meeting to increase the size of the Aspen board and endorsing the pursuit of a court-sanctioned scheme of arrangement.
Aspen Insurance reports Q1 EPS $1.87, consensus $1.38 Gross written premiums increased by 7.4% to $919.2M. Reports diluted book value per share of $46.02 at March 31, up 2.0% from December 31, 2014. Aspen continues to expect to achieve an operating return on equity of 11% in 2015.