Company: AHL
Filing Date: 2025-03-20
Form Type: F-1/A
Source: 0001628280-25-014149
Chunk: 90

Company: ASPEN INSURANCE HOLDINGS LTD
Filing Date: 2025-03-20
Form: F-1/A
Chunk 90
---
 or following a catastrophe event.

Accordingly, our models may understate the exposures we are assuming. Conversely, our models may prove too conservative and contribute to factors which may impede our ability to grow in respect of new markets or perils or in connection with our current portfolio of coverages or the loss environment otherwise may prove more benign than our capital loading for catastrophes or other modeled losses. In such case of excess capital, we would make a judgment about redeploying the capital in lines of businesses or pursuing other capital management activities, such as dividends or share repurchases, which judgment will also depend on modeling techniques and results. If capital models prove inadequate, our result of operations and financial condition may be materially adversely impacted.

Risks Related to Our Ordinary Shares and this Offering

Following this offering, we will continue to be controlled by Apollo, and Apollo’s interests may conflict with our interests and the interests of our other shareholders.

Apollo currently controls and is expected, following the completion of this offering, to continue to control a majority of the aggregate voting power of our outstanding ordinary shares. Following this offering, the Apollo Shareholders will collectively beneficially own approximately % of our ordinary shares (or % if the underwriters exercise in full their option to purchase additional ordinary shares from the selling shareholders). As a result, the Apollo Shareholders could exercise significant influence over all matters requiring shareholder approval for the foreseeable future, including approval of significant corporate transactions, appointment of members of our management, election of directors and determination of our corporate policies, which may impair the market price of our ordinary shares.

The interests of the Apollo Shareholders may conflict with the interests of our other shareholders. Actions that the Apollo Shareholders may take as shareholders may not be favorable to our other shareholders. For example, the concentration of voting power held by the Apollo Shareholders and the significant representation on the Board by individuals affiliated with Apollo could delay, defer or prevent a change of control of us or impede a merger, takeover or other business combination which another shareholder may otherwise view favorably. The concentration of voting power held by the Apollo Shareholders could deprive you of an opportunity to receive a premium for your ordinary shares as part of a sale of the Company and ultimately might affect the market price of our ordinary shares. Additionally, the Apollo Shareholders may, in their role as shareholders, vote in favor of a merger, takeover or other business combination transaction which our other shareholders may not consider in their best interests. Our Conflicts Committee reviews certain material transactions between Aspen Holdings and/or its subsidiaries