Company: AHL
Filing Date: 2025-05-08
Form Type: 424B4
Source: 0001628280-25-023859
Chunk: 143

Company: ASPEN INSURANCE HOLDINGS LTD
Filing Date: 2025-05-08
Form: 424B4
Chunk 143
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 62.5 | % |
| Expense ratio                                               |     |                                         |     28.5 |   |     |      |     28.1 |   |     |      |     30.5 |   |
| Combined ratio                                              |     |                                         |     87.9 | % |     |      |     87.5 | % |     |      |     93.0 | % |
| Adjusted combined ratio(2) (3)                              |     |                                         |     86.8 | % |     |      |     86.4 | % |     |      |     92.4 | % |
| Adjusted underwriting income(2) (3)                         |     | $                                       |    380.8 |   |     | $    |    355.3 |   |     | $    |    205.5 |   |
| Operating income(3)                                         |     | $                                       |    432.5 |   |     | $    |    367.6 |   |     | $    |    202.3 |   |
| Operating return on average equity(3)                       |     |                                         |     19.4 | % |     |      |     20.2 | % |     |      |     11.9 | % |
| Total return on average cash and investments, pre-tax       |     |                                         |      4.0 | % |     |      |      5.7 | % |     |      |     -5.1 | % |

________________

(1) Corporate and other net expenses includes corporate expenses, other income and other expenses.

(2) The adjusted underwriting income and adjusted combined ratio remove the impact of the change in deferred gain on retroactive reinsurance contracts in order to economically match the loss recoveries under the LPT/ADC contracts with the underlying loss development of the assumed net loss reserves for the subject business of 2019 and prior accident years. The adjusted underwriting income and adjusted combined ratio represent the performance of our business for accident years 2020 onwards, which management believe reflects the underlying underwriting performance of the ongoing portfolio.

(3) These metrics are non-GAAP financial measures as defined under SEC rules and regulations. Refer to “—Key Performance Measures and Non-GAAP Financial Measures” for further details.

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Operating highlights for the twelve months ended December