Company: AHL
Filing Date: 2025-03-20
Form Type: F-1/A
Source: 0001628280-25-014149
Chunk: 227

Company: ASPEN INSURANCE HOLDINGS LTD
Filing Date: 2025-03-20
Form: F-1/A
Chunk 227
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 our loss ratio achieved through enhanced underwriting systems and data analytics.

• Culture : We have undertaken a transformation so that we can execute our go-forward strategy in adherence with our values. Since Apollo’s acquisition in 2019, to align with our culture and mission, each member of Aspen’s executive team has been newly appointed, through either internal promotions or new external hires. Our culture is defined by our core values to be open minded, to do the right thing, to be in it together, to own it, and to innovate. We empower our decision makers, who bring to bear their expertise for clients, and build our reputation as thought leaders in our market spaces. Our employees are challenged to be not just risk allocators, but considered risk managers who demonstrate underwriting judgment, exercising restraint in soft markets and pursuing growth in favorable market conditions.

The result of this transformation has been a significant shift in our culture, and a strategic repositioning of the underwriting portfolio that is now being reflected in our financial results, providing a dynamic platform on which to execute our go-forward strategy of growing our core lines of business.

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Table of C ontents

#### Other Key Performance Highlights
Since Apollo’s acquisition in 2019, we have undergone a complete transformation of our business. Selected financial highlights include:

• Gross written premiums increased from $3,447 million for the twelve months ended December 31, 2018 to $4,609 million for the twelve months ended December 31, 2024;

• Loss ratio decreased from 71.0% for the twelve months ended December 31, 2018 (12.1% attributable to catastrophe losses) to 59.4% (adjusted loss ratio to 58.3%) for the twelve months ended December 31, 2024 (6.5% attributable to catastrophe losses);

• Expense ratio decreased from 32.9% for the twelve months ended December 31, 2018 to 28.5% for the twelve months ended December 31, 2024;

• ACM fee income increased from $24 million for the twelve months ended December 31, 2018 to $169 million for the twelve months ended December 31, 2024;

• Net (loss)/income increased from $(146) million for the twelve months ended December 31, 2018 to $486 million for the twelve months ended December 31, 2024;

• Operating income increased from $0.3 million for