Company: AHL
Filing Date: 2025-03-19
Form Type: 20-F
Source: 0001267395-25-000019
Chunk: 237

Company: ASPEN INSURANCE HOLDINGS LTD
Filing Date: 2025-03-19
Form: 20-F
Item: Item 5
Chunk 237
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 %
Insurance                                                1,628.2                                3,053.1                         4,681.3                             65.2    %
Total losses and loss adjustment expense reserves        $3,115.5                               $4,695.1                        $7,810.6                            60.1    %
Prior year loss reserves.  For the twelve months ended December 31, 2024, there was an overall increase in our estimate of ultimate net claims to be paid in respect of prior accident years. An analysis of this overall net increase/(decrease) by business segment is as follows for each of the twelve months ended December 31, 2024, 2023 and 2022:

                                                                                                                       Twelve Months Ended December 31,
Business Segment                                                                   2024   2023                            2022                         
                                                                                                                                        ($ in millions)
Reinsurance                                                                  $24.4                       $(14.5)                         $(58.8)       
Insurance                                                                     11.2        75.3                            86.9                         
Total losses and loss adjustment expense reserves changes                    $35.6                       $60.8                           $28.1         
For the twelve months ended December 31, 2024. The analysis of the development by each segment is as follows:
Reinsurance. Net adverse reserve development of $24.4 million in 2024, due to the unfavorable impact of the LPT of $24.6 million, partially offset by favorable development on post-LPT accident years of $0.2 million.
Insurance. Net adverse reserve development of $11.2 million in 2024, due to adverse prior year development on post-LPT accident years of $0.8 million and the unfavorable movement of $10.4 million due to the impact of the LPT.
For the twelve months ended December 31, 2023. The analysis of the development by each segment is as follows:
Reinsurance. Net reserve releases of $14.5 million in 2023, due to the favorable impact of the LPT of $20.2 million, partially offset by adverse reserve development on post-LPT accident years of $5.7 million.
Insurance. Net adverse reserve development of $75.3 million in 2023, due to adverse prior year development on post-LPT accident years of $26.6 million and the unfavorable movement of $48.7 million due to the impact of the LPT and retroactive accounting by deferring the gains on the contract over the