Company: AHL
Filing Date: 2025-05-08
Form Type: 424B4
Source: 0001628280-25-023859
Chunk: 156

Company: ASPEN INSURANCE HOLDINGS LTD
Filing Date: 2025-05-08
Form: 424B4
Chunk 156
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 Adjusted combined ratio                            |                                     |                              |  94.8 | % |     |   |  86.3 | % |

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(1) Adjusted losses and loss adjustment expenses is a non-GAAP financial measure as defined under the rules and regulations of the SEC. It is the sum of current accident year losses, catastrophe losses and prior year reserve strengthening/(releases) post-LPT years. Adjusted losses and loss adjustment expenses excludes the change in the deferred gain on retroactive reinsurance contracts and represents the performance of our business for accident years 2020 onwards, which management believes reflects the underlying underwriting performance of the ongoing business.

(2) Impact of the LPT represents the deferral of a portion of loss recoveries on 2019 and prior accident year loss development as per accounting requirements for retroactive reinsurance under GAAP.

Results of Operations for the twelve months ended December 31, 2024, 2023 and 2022.

Our consolidated financial statements are prepared in accordance with GAAP. The discussions that follow include tables and commentary relating to our consolidated income statement and our segmental operating results for the twelve months ended December 31, 2024, 2023 and 2022 and should be read in conjunction with our audited consolidated financial statements and related notes included elsewhere in this prospectus.

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Gross written premiums

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

| Business Segment |     | Gross Written Premiums for the Twelve Months Ended December 31, 
 2024                                                            
 ($ in millions)                                                 |         |     | % change |      |   |     | 2023            
 ($ in millions) |         |     | % change |       |   |     | 2022            
 ($ in millions) |         |
|:-----------------|:----|:----------------------------------------------------------------|--------:|:----|:---------|-----:|:--|:----|:----------------|--------:|:----|:---------|------:|:--|:----|:----------------|--------:|
| Reinsurance      |     | $                                                               | 1,885.8 |     |          | 24.0 | % |     | $               | 1,521.0 |     |          | -15.