Company: AHL
Filing Date: 2025-04-29
Form Type: F-1/A
Source: 0001628280-25-020463
Chunk: 15

Company: ASPEN INSURANCE HOLDINGS LTD
Filing Date: 2025-04-29
Form: F-1/A
Chunk 15
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 core lines of business.

### Our Business
We manage our underwriting operations as two distinct business segments: Insurance and Reinsurance. We have a diversified yet complementary portfolio across these segments, constructed through the lens of our ‘One Aspen’ approach, where we balance risk on an aggregate basis and tactically deploy capital to the lines of business and platforms that we believe will generate the best returns for the Aspen Group. Our Insurance and Reinsurance segments both leverage third-party capital through ACM, which utilizes our capabilities in the third-party capital space (namely, the Insurance Linked Securities markets) to provide our core Insurance and Reinsurance segments with enhanced capital flexibility and operating leverage.

Our size provides an advantage relative to our larger peers, allowing us to be nimble and decisive; entering, exiting or changing the nature of our underwriting positions faster and with greater precision. For instance, as part of our active portfolio management process for the 2024 planning year, we actively managed our portfolio to capitalize on market spaces that represented the best opportunity. As examples of this, in our Reinsurance segment we targeted meaningful growth in our casualty and specialty portfolio through expansion with existing cedants, and, supported by improved pricing on renewals, we grew our mortgage reinsurance book in response to a more favorable outlook for the U.S. economy. Our Insurance segment also grew in specialty lines, while continuing to manage down exposure to certain professional lines of business where market conditions remain challenging. For the 2023 planning year, we made the decision to step back from the aviation, space and bloodstock reinsurance markets as we did not see medium-term returns meeting our targets, while also reducing our risk appetite for mortgage reinsurance in response to uncertainty about the U.S. economy and housing market. In addition, in the Insurance segment we actively managed down from our original 2023 planned growth within selected U.S. management liability and professional liability lines of business, where we have observed a softening rate environment.

The strength of our business is evidenced by our numerous industry awards and nominations in 2024 and 2023, including winning Non-Life Insurance Investment Strategy of the Year for Insurance Investor European Awards 2024, winning Insurance ERM’s Climate and Sustainability Collaboration Award 2023, Syndicate 4711 rated a Lloyd’s Syndicate Gold Award winner in 2023, being shortlisted for Insurance Insider’s (Re)insurer of the Year in 2024 and 2023, being shortlisted for Insurance Insider’s Carrier of the Year 2024, being