Company: AHL
Filing Date: 2025-04-29
Form Type: F-1/A
Source: 0001628280-25-020463
Chunk: 467

Company: ASPEN INSURANCE HOLDINGS LTD
Filing Date: 2025-04-29
Form: F-1/A
Chunk 467
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 |             |      |     |                   |        |     |                                    |        |
| Bermuda    |     | $                                     | -103.3 |     | $           |    — |     | $                 |      — |     | $                                  |      — |
| U.S        |     |                                       |   34.8 |     |             | 14.8 |     |                   | -102.9 |     |                                    |  -88.1 |
| U.K.       |     |                                       |   62.4 |     |             |  7.0 |     |                   |      — |     |                                    |    7.0 |
| Other      |     |                                       |  -20.9 |     |             |  4.7 |     |                   |   -1.7 |     |                                    |    3.0 |
| Total      |     | $                                     |  -27.0 |     | $           | 26.5 |     | $                 | -104.6 |     | $                                  |  -78.1 |

________________

(1) We have recorded a deferred tax asset in Bermuda consisting of $ 158.9million (2023 — $ 156.6million) in respect of the ETA and $ 40.0million (2023 — $ 44.5million) in respect of an OTLC as a result of the newly enacted Corporate Income Tax Act 2023 in Bermuda. The ETA election allows for an adjustment equal to the difference between the fair market value and carrying value of assets and liabilities. The OTLC allows losses from year 2020 to 2024 to be carried forward. We expect this deferred tax asset to be utilized predominantly over a 10-year period. We expect to incur and pay increased taxes in Bermuda beginning in 2025.

(2) The U.S. current tax expense of $ 62.7million (2023 — $ 52.4million) includes $ 0.2million (2023 — $ 0.9million) of Base Erosion and Anti-abuse Tax.

(3) The U.K. deferred tax benefit of $ 85.3million includes a change in the judgment of the brought-forward valuation allowance of $ 107.7million.

(4) Current tax expense and deferred tax (benefit) in “Other” relates to the branches of Aspen UK and Aspen Bermuda Limited.

As noted above