Company: AHL
Filing Date: 2025-05-08
Form Type: 424B4
Source: 0001628280-25-023859
Chunk: 288

Company: ASPEN INSURANCE HOLDINGS LTD
Filing Date: 2025-05-08
Form: 424B4
Chunk 288
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 LLP by entering into a new investment management agreement with Apollo Management International LLP. A form of our existing IMA, the form of deed of novation by and among us and AAME and AAME LLP and our Amended and Restated Investment Management Agreement that we expect to be in effect upon the receipt of regulatory approval and completion of internal governance procedures have been filed as exhibits to the registration statement of which this prospectus is a part.

### Management Consulting Agreement with Apollo Management
In March 2019, the Company entered into a Management Consulting Agreement, by and between the Company and Apollo Management. Pursuant to the Management Consulting Agreement, Apollo Management will provide the Aspen Group with management consulting and advisory services related to the business and affairs of the Aspen Group and Aspen will pay to Apollo Management in consideration for its services under the Management Consulting Agreement, an annual management consulting fee equal to the greater of (1) 1% of the consolidated net income of the Aspen Group for the applicable fiscal year and (2) $5 million. Upon the completion of this offering, we expect to terminate the Management Consulting Agreement by mutual agreement of the Company and Apollo Management.

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During the twelve months ended December 31, 2024, the Company recognized management consulting fees of $5.0 million (2023 — $5.0 million; 2022 — $5.0 million), of which $1.3 million remains payable to Apollo Management as of December 31, 2024 (2023 — $1.2 million).

#### Related Party Investments
During the twelve months ended December 31, 2024, the Company bought or held the following securities or investments in Apollo:

As at December 31, 2024, the Company’s investment in funds managed by Apollo had a fair value of $78.6 million (December 31, 2023 — $39.8 million). During the twelve months ended December 31, 2024, the Company incurred income of $0.4 million (2023 — losses of $0.4 million; 2022 — income of $3.1 million) which is included in net investment income on the consolidated statement of operations and other comprehensive income. These investments are included in other investments on the consolidated balance sheet.

As at December 31, 2024, the Company’s investment in notes issued by special purpose vehicles established and managed by subsidiaries of Apollo had a fair value of $66.6 million (December 31