Company: AHL
Filing Date: 2025-04-29
Form Type: F-1/A
Source: 0001628280-25-020463
Chunk: 237

Company: ASPEN INSURANCE HOLDINGS LTD
Filing Date: 2025-04-29
Form: F-1/A
Chunk 237
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 ACM uses our capabilities in the third-party capital markets, to increase the flexibility Aspen’s Insurance and Reinsurance underwriters have in allocating risk to the best source of capital. ACM leverages the full breadth of our expertise across distribution, underwriting, modeling, actuarial and claims, to create attractive opportunities for our investor partners. ACM has experienced significant growth, with third-party capital growing from $667 million in 2018 to $2,207 million as of December 31, 2024, and generating $169 million in fee income for Aspen for the twelve months ended December 31, 2024. We believe we have driven innovation in this market and have cultivated close relationships with third-party capital investors. ACM is a differentiated capability and highly strategic to our business, allowing us to support our Insurance and Reinsurance segments with third-party capital, and serving as a mechanism for tactical de-risking as we leverage fee income from our on-balance sheet underwriting risk. This capability provides us with the ability to “flex” into attractive opportunities in accordance with underwriting cycles and enhances our go-to-market strategy.

#### Deep Trading Partner Relationships
We have seasoned and diversified relationships with partners across our Insurance and Reinsurance segments. The distribution strategy within our Insurance segment is focused on specialized intermediaries with whom we have long-standing relationships. Our distributors are experts in their field and know our products and risk appetite well. We have flexibility across retail brokers, wholesale brokers and MGAs to drive value and maintain deep relationships without being overly reliant on any one large partner. Our Reinsurance segment is characterized by the longevity of our relationships with cedants, with 78.0% of premium for underwriting year 2024 having been written

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with cedants who have maintained their reinsurance relationship with us since 2014. We believe we are viewed as a strong, reliable counterparty.

#### Strong Balance Sheet
We have an efficient capital structure and strong capitalization with $3,672 million of total capital as of December 31, 2024. We implement a disciplined and proactive approach to manage excess capital and provide opportunistic shareholder returns. In the twelve months ended December 31, 2024, we paid ordinary share dividends of $195 million in addition to Preference Share dividends. Additionally, we have strong financial strength ratings from both A.M. Best Company, Inc. (“A.M. Best”) (“A”) and Standard & Poor’s Financial Services LLC (“S&P”) (“A-”)