Company: AHL
Filing Date: 2025-03-19
Form Type: 20-F
Source: 0001267395-25-000019
Chunk: 352

Company: ASPEN INSURANCE HOLDINGS LTD
Filing Date: 2025-03-19
Form: 20-F
Item: Item 18
Chunk 352
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 ability to declare a dividend, the rules of the Prudential Regulation Authority (the “ PRA”) require each insurance company within its jurisdiction to maintain its solvency margin at all times. Accordingly, Aspen UK, AMAL and AUL may not pay a dividend if the payment of such dividend would result in their SCR coverage ratio falling below certain levels. In addition, any future changes regarding regulatory requirements, including those described above, may restrict the ability of Aspen UK, AMAL and AUL to pay dividends in the future. As at December 31, 2024, Aspen UK had an accumulated balance of retained losses of approximately $ 690 31 879.9

Aspen Bermuda must comply with the provisions of the Companies Act and the Insurance Act regulating the payment of dividends and distributions. Aspen Bermuda may not in any financial year pay dividends which would exceed 25 25 322.9 15

Aspen Specialty and AAIC are subject to North Dakota and Texas law, respectively. Under such law, the maximum ordinary dividend which can be paid by insurance companies without prior regulatory approval is subject to statutory restrictions. Ordinary dividends may only be paid out of earned surplus as distinguished from contributed surplus. The maximum amount of ordinary dividend that can be paid without prior regulatory approval is the greater of 10% of a company’s surplus as of December 31 of the preceding year, or the amount of net income from the preceding fiscal year.

Actual and required statutory capital and surplus for the principal Operating Subsidiaries of the Company, excluding its Lloyd’s syndicate, as at December 31, 2024 and December 31, 2023 were estimated as follows:

                                              As at December 31, 2024                                                               
                                              U. S.                                     Bermuda                   U. K.             
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
                                              ($ in millions)                                                                       
  Required statutory capital and surplus      $                              565.7      $              579.3      $          277.3  
  Actual statutory capital and surplus        $                            1,164.9      $            1,761.3      $          651.0  

                                              As at December 31, 2023                                                               
                                              U. S.                                     Bermuda                   U. K.             
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
                                              ($ in millions)                                                                       
  Required statutory capital and surplus