Aspen Insurance Holdings Limited has entered into an accelerated share repurchase program with Goldman, Sachs & Co. to buy back $50 million of Aspen's ordinary shares, completing the $300 million share repurchase program authorised by the Board of Directors and announced in November 2006.

In a statement, the company said the agreement includes collar provisions that establish the minimum and maximum numbers of shares to be repurchased.

Based on Aspen's closing share price last Friday the $50 million share repurchase represents approximately two percent of the company's total issued ordinary shares.

Richard Houghton, Aspen's chief financial officer, said: "Aspen is committed to actively managing its capital throughout the insurance cycle to finance the business and deliver attractive investor returns. We are confident about our outlook, which is reflected by our completion of this substantial repurchase program."