Company: AHL
Filing Date: 2025-05-08
Form Type: 424B4
Source: 0001628280-25-023859
Chunk: 450

Company: ASPEN INSURANCE HOLDINGS LTD
Filing Date: 2025-05-08
Form: 424B4
Chunk 450
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     |  8.3 | %   |     |                  | 6.6 | %   |
| Global corporate securities                    |     |                |     |            |  14.1 |     | Discounted cash flow |     | Discount rate       |     |        | 6.7 | %   | — |     |  6.7 | %   |     |                  | 6.7 | %   |
| Global corporate securities                    |     |                |     |            |   4.4 |     | Transaction value    |     | n/a                 |     |        |     | n/a |   |     |      | n/a |     |                  |     | n/a |
| Total                                          |     |                |     | $          | 311.0 |     |                      |     |                     |     |        |     |     |   |     |      |     |     |                  |     |     |

#### Catastrophe Bonds.
Catastrophe bonds are variable rate fixed income instruments with redemption values adjusted based on the occurrence of a covered event, usually windstorms and earthquakes. Catastrophe bonds are classified as trading and reported at fair value. Catastrophe bonds are priced using an average of multiple broker-dealer quotes and as such, are classified as Level 2.

#### Foreign Exchange Contracts.
The foreign exchange contracts which the Company uses to mitigate currency risk are characterized as OTC due to their customized nature and the fact that they do not trade on a major exchange. These instruments trade in a very deep liquid market, providing substantial price transparency and accordingly are classified as Level 2.

#### Derivative Liabilities - Loss Portfolio Transfer.
The LPT embedded derivative is valued using the Black-Scholes model. The two primary inputs of this model are expected claim settlement patterns and expected return of the investment portfolio above a fixed minimum rate over the specified time horizon. The expected claim settlement pattern is determined on an actuarial basis for the cohort of business within scope of the LPT and is consistent with the patterns used in the valuation of technical provisions. The expected return of the investment portfolio, above a

<div align='center'>F-41</div>

fixed minimum rate, directly impacts on the LPT derivative valuation and is subject to changes in the market conditions. In order to assess the reasonableness of the inputs, the Company updates the expected claim settlement patterns on a regular basis while maintaining an understanding of the current market conditions.