Company: AHL
Filing Date: 2025-03-20
Form Type: F-1/A
Source: 0001628280-25-014149
Chunk: 264

Company: ASPEN INSURANCE HOLDINGS LTD
Filing Date: 2025-03-20
Form: F-1/A
Chunk 264
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shared services.” The transaction presents certain operational and reputational risks for the Company, including in respect of claims management. For a description of the risks, refer to “Risk Factors—Risks Related to Our Business—Other Operational Risks—We rely on the execution of internal processes to maintain our operations and the operational risks that are inherent to our business, including those resulting from fraud or employee errors or omissions, may result in financial losses.”

#### Reserves
Under GAAP and applicable insurance laws and regulations in the countries where we operate, we are required to establish loss reserves for the estimated unpaid portion of the ultimate liability for losses and loss expenses under the terms of our policies and agreements with our insured and reinsured customers. The process of estimating these reserves involves a considerable degree of judgment and, as of any given date, is inherently uncertain. See “Management’s Discussion and Analysis of Financial Condition and Results of Operations—Critical Accounting Estimates—Reserving Approach” and “Risk Factors—Risks Related to Our Business—(Re)insurance Risks—Our financial condition and operating results may be adversely affected if actual claims exceed our loss reserves” for more information. The Reserve Committee oversees the development of the Aspen Group-level reserves.

Our Corporate Structure and the Pre-IPO Transaction

We were incorporated on May 23, 2002 in Bermuda as a holding company operating under the laws of Bermuda. Our principal office is located at 141 Front Street, Hamilton, HM19, Bermuda. Our telephone number is +1 441-295-8201 and our website address is www.aspen.co. Information contained on, or that can be accessed through, our website is not part of and is not incorporated by reference into this prospectus, and you should not consider information on our website to be part of this prospectus.

Prior to this offering, Highlands Bermuda Holdco, Ltd., a holding company affiliate of certain investment funds managed by affiliates of Apollo, owned all of our issued and outstanding ordinary shares, which constituted its sole assets. On , 2025, we exchanged all of our issued and outstanding ordinary shares, par value $0.01 per share, owned by Highlands Bermuda Holdco, Ltd., for Class A ordinary shares, par value $0.001 per share, which have the same voting and economic rights as our existing ordinary shares other than par value. Following the Exchange, Highlands Bermuda Holdco, Ltd. will, pursuant to its plan of liquidation, distribute all Class A ordinary shares that it received in the Exchange to AP