Company: AHL
Filing Date: 2025-04-29
Form Type: F-1/A
Source: 0001628280-25-020463
Chunk: 488

Company: ASPEN INSURANCE HOLDINGS LTD
Filing Date: 2025-04-29
Form: F-1/A
Chunk 488
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Reinsurance recoverables

At December 31, 2024, the total amount recoverable by the Company from reinsurers was $ 4,172.0million (December 31, 2023 — $ 4,577.8million). Of the Company’s reinsurance recoverable balance at December 31, 2024, 55.9% is collateralized by our reinsurers, 44.0% is recoverable from reinsurers rated A- or higher by major rating agencies and 0.1% is recoverable from reinsurers rated lower than A- by major rating agencies (December 31, 2023 — 56.8%, 42.9% and 0.3%, respectively). As at December 31, 2024, the Company’s largest uncollateralized exposures to individual reinsurers represent 15.4% (December 31, 2023 — 15.9%), 11.5% (December 31, 2023 — 11.1%), and 8.8% (December 31, 2023 — 9.2%) of the uncollateralized reinsurance recoverables.

Under the current expected credit loss model (“CECL”), the Company recognized a provision against reinsurance recoverables of $ 27.5million as at December 31, 2024 (December 31, 2023 — $ 3.7million). For the twelve months ended December 31, 2024, there was a $ 23.8million increase in the CECL allowance on reinsurance recoverables.

Underwriting premium receivables

The total underwriting premium receivable by the Company as at December 31, 2024 was $ 1,617.0million (2023 — $ 1,435.3million). As at December 31, 2024, $ 111.1million of the total underwriting premium receivable balance has been due for settlement for more than one year. The Company assesses the recoverability of premium receivables through a review of policies and the concentration of receivables by broker. The Company has recognized an allowance for credit losses of $ 24.6million as at December 31, 2024 (December 31, 2023 — $ 21.0million) on underwriting premium receivables.

Investments and cash and cash equivalents

The Company’s investment policies include specific provisions that limit the allowable