[December 15, 2010] : Algorithmics Signs Aspen Insurance To Algo First Database Of Risk, Compliance And Corporate Governance Events Tweet (M2 PressWIRE Via Acquire Media NewsEdge) RDATE:15122010 Toronto, London -- Algorithmics, the leading provider of enterprise risk management solutions, today announced that Aspen Insurance UK Ltd has signed a subscription agreement for access to the Algo FIRST database of case studies, covering more than 9,600 operational risk events. After evaluating content sources and databases available in the market, Aspen, a global provider of insurance and reinsurance, selected Algo FIRST. Aspen will use knowledge gained from Algo FIRST's loss and risk content to inform its financial institutions underwriting and operational risk management. Rupert Villers, Chief Executive Officer at Aspen Insurance, commented: Algo FIRST is a valuable source of intelligence on a financial institutions exposure to losses. We will use the database to develop our underwriting expertise further, which we believe will be beneficial to our insureds and brokers. Julian Cusack, Group Chief Risk Officer at Aspen Insurance also commented on the FIRST subscription decision: We decided to subscribe to Algo FIRST to expand our knowledge and understanding of particular categories of operational risk. We will incorporate the database in our management of operational risk across the Group." Laura Polak, Director and head of business and product development operations for operational risk content at Algorithmics, added: "I am delighted to welcome Aspen to our community of Algo FIRST users. I believe that Algo FIRST, with its broad coverage across risk categories, will provide Aspen with the content it needs to be able to make informed underwriting decisions as well as broaden their own internal operational risk program through scenario analysis, risk identification and awareness, and change management initiatives." For more information about Algorithmics operational risk management solutions, please visit: http://www.algorithmics.com/EN/solutions/myinterests/operationalrisk.cfm For more information about Algo FIRST, please visit: http://www.algorithmics.com/EN/services/23-prodserv.cfm For more information about Algorithmics' award winning and patented solutions, visit: www.algorithmics.com For further information please contact: Heather Smith, Senior Communications Manager, Algorithmics (UK) Ltd Direct line +44 (0) 20 7392 5820 Mobile +44 (0) 7515 974223 E-mail [email protected] Notes to Editors: Aspen Insurance Holdings Limited (Aspen or AHL) a NYSE listed company. 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 States and the United Kingdom. For the twelve months ended December 31, 2009, Aspen reported gross written premiums of $2,067.1 million, net income of $473.9 million and total assets of $8.3 billion. 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. For more information about Aspen, please visit www.aspen.bm. Algorithmics is the world's leading provider of risk solutions. Financial organizations from around the world use Algorithmics' software, analytics and advisory services to help them make risk-aware business decisions, maximize shareholder value, and meet regulatory requirements. Supported by a global team of risk experts based in all major financial centers, Algorithmics offers proven, award-winning solutions for market, credit and operational risk, as well as collateral and capital management. Algorithmics is a member of the Fitch Group. www.algorithmics.com Algo FIRST, utilizing a unique real-life case study approach, is designed to assist institutions with their analysis of risk, governance and compliance events. The Algo FIRST database is used as a qualitative tool, providing information on control breakdowns, event triggers, insight into why the losses occurred and lessons learned. Algo FIRST contains case studies on more than 9,600 loss events and is unrivalled in its depth of analysis and coverage of the industry. Algo OpVar is a fully integrated, pre-configured software solution for identifying, managing, measuring, and mitigating operational risk, which helps institutions successfully meet their regulatory, governance, and compliance goals. Designed to capture a virtually unlimited number of operational risk and compliance factors, Algo OpVar Standard Edition provides a transparent system that helps business units and risk officers enhance operational risk management. Individual users can analyze, monitor, and report any of these factors, individually or in context of their associated relationships. The software integrates proven methodologies through a flexible, user-friendly interface. As an 'out-of-the-box' offering, Algo OpVar Standard Edition enables firms to bypass lengthy customization phases and quickly provide management with a comprehensive, enterprise-wide operational risk framework. Fitch Group is the parent company of Fitch Ratings, a global ratings agency committed to providing the world's markets with independent, timely and prospective credit opinions. With 49 offices worldwide, Fitch Ratings global expertise spans across capital markets in over 150 countries. Fitch Ratings is headquartered in New York and London. The Fitch Group also includes Fitch Solutions, a distribution channel for Fitch Ratings products and a provider of data, analytics and related services; and Algorithmics, the world's leading provider of enterprise risk solutions. The Fitch Group is a majority-owned subsidiary of Fimalac, S.A., headquartered in Paris, France. For additional information, please visit www.fitchratings.com www.algorithmics.com and www.fimalac.com 2010 Algorithmics Software LLC. All rights reserved. ALGORITHMICS, Ai Logo, ALGORITHMICS & Ai Logo, ALGO, MARK-TO-FUTURE, RISKWATCH, KNOW YOUR RISK, ALGO RISK, ALGO MARKET, ALGO CREDIT, ALGO COLLATERAL, ALGO FIRST, ALGO ONE, ALGO FOUNDATION, ALGO FINANCIAL MODELER, ALGO OPVAR and TH!NK Logo are trademarks of Algorithmics Trademarks LLC. ((M2 Communications disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. 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