Company: AHL
Filing Date: 2025-04-29
Form Type: F-1/A
Source: 0001628280-25-020463
Chunk: 242

Company: ASPEN INSURANCE HOLDINGS LTD
Filing Date: 2025-04-29
Form: F-1/A
Chunk 242
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 of over 4,000 local coverholders. We have a significant presence at Lloyd’s through our integrated Lloyd’s vehicle, comprising Syndicate 4711, managed by AMAL with fully aligned capital, which in addition to access to complex risks also provides us (re)insurance licensing access for 80 territories (and an additional 20 territories on a reinsurance only basis) across the Americas, the United Kingdom, Europe, and Asia Pacific. AUL, as the sole corporate member of Syndicate 4711, must deposit sufficient capital to support its underwriting at Lloyd’s. Aspen is well positioned within Lloyd’s, with Syndicate 4711 having a reported combined ratio of 82.3% for 2024 and a reported combined ratio of 86.7% for the twelve months ended December 31, 2023. We wrote $1,400 million of gross premiums in the Lloyd’s market for the twelve months ended December 31, 2024 and $1,054 million for the twelve months ended December 31, 2023.

The U.K. Company Market is an important market for global specialty insurance, with companies and individuals worldwide turning to this market to protect against niche and hard-to-place risks, ranging from liability and professional lines, to cyber and renewable energy exposures. Gross premium written in this market stood at £48 billion in 2023 up 47% from £33 billion in 2020. While there is no standard definition of this market, there is a general agreement that the core of its activity is internationally traded non-life, commercial and specialty insurance and reinsurance business written by insurers operating outside Lloyd’s. This is mostly P&C (re)insurance, with an increasing emphasis on high-exposure risks. The diversity and expertise of insurers and underwriting talent, as well as the ecosystem of service providers, make this a highly attractive market to write our U.K.-centric lines of business. We write business in this market through Aspen Insurance UK Limited. We wrote $367 million of gross written premiums in this market for the twelve months ended December 31, 2024 and $320 million for the twelve months ended December 31, 2023.

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#### Global Reinsurance Market
Global reinsurer capital rose to a new high of $715 billion at September 30, 2024, an increase of $45 billion relative to the end of 2023, driven mainly by retained earnings according to Aon data. Reins