Company: AHL
Filing Date: 2025-03-19
Form Type: 20-F
Source: 0001267395-25-000019
Chunk: 153

Company: ASPEN INSURANCE HOLDINGS LTD
Filing Date: 2025-03-19
Form: 20-F
Item: Item 4
Chunk 153
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 gross written premiums, with the retention ratio remaining consistent year on year.

Table of Contents

Net earned premiums

The following table sets forth the net earned premiums for our two business segments in the twelve months ended December 31, 2024, 2023 and 2022 and the percentage change in net earned premiums:

                        Net Earned Premiums for the Twelve Months Ended December 31,                                                                                          
  Business Segment      2024                                                                                         2023                                                     
                        ($ in millions)                                                                % change      ($ in millions)                   % change               
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Reinsurance           $                                                                 1,305.7          13.1      $                    1,154.5         (7.8)      1,251.8  
  Insurance                                                                               1,584.0           8.5                           1,460.0           1.6      1,436.9  
  Total                 $                                                                 2,889.7          10.5      $                    2,614.5         (2.8)      2,688.7  

Net earned premiums increased by $275.2 million, or 10.5%, in 2024 compared to 2023 due to an increase of $381.0 million in gross earned premiums, partially offset by an increase of $105.8 million in ceded earned premiums in the twelve months ended December 31, 2024.

Losses and loss adjustment expenses

We have presented the different components of the loss ratios, including adjusting for the impact of the LPT, which includes changes in retroactive reinsurance contracts as we believe that the presentation of adjusted loss ratios reflects the underlying performance of the ongoing portfolio. Additionally, we have also presented current year loss ratios (excluding the impact of catastrophe losses), the impact of catastrophe losses and prior year development for accident years that are not covered by the LPT.

                                                                  Twelve Months Ended December 31,                                                                                                           
                                                                  2024                                                               2023                                  2022                              
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
                                                                  Net Loss Expense                                   Loss Ratio      Net Loss Expense      Loss Ratio      Net Loss Expense      Loss Ratio  
                                                                  ($ in millions)                                    %               ($ in millions)                %      ($ in millions)