Company: AHL
Filing Date: 2025-03-20
Form Type: CORRESP
Source: 0001628280-25-014150
Chunk: 1

Company: ASPEN INSURANCE HOLDINGS LTD
Filing Date: 2025-03-20
Form: CORRESP
Chunk 1
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 page 91. We note from the announcement available under the investors section of your website that the CEO of ACP referred to a significant opportunity for new capacity against “the backdrop of reduced appetite from the reinsurance market.” Please advise why you did not address the agreement and the parties in the filing or revise to provide disclosure where appropriate. In this regard, it appears that the MD&A disclosure should further clarify trends regarding “lines of business where market conditions remain challenging,” as referenced on page 9.

#### Response
: The Registrant acknowledges the Staff’s comment and has revised its disclosure on pages 13, 92-93 and 158 of Amendment No. 4.

#### Exhibits
2. We note that Section 163 of your Second Amended and Restated By-laws filed as Exhibit 3.4 includes an exclusive forum provision. Based on your disclosure on page 71 it appears that this provision does not apply to actions arising under the Securities Act or Exchange Act. As such, please also ensure that the exclusive forum provision in the governing documents states this clearly, or tell us how you will inform investors in future filings that the provision does not apply to any actions arising under the Securities Act or Exchange Act.

#### Response
: The Registrant confirms that the exclusive forum provision does not apply to actions arising under the Securities Act or Exchange Act. The Registrant has filed its third amended and restated bye-laws that it expects to be effective upon completion of internal governance procedures and completion of the offering as an exhibit to the Registration Statement to state this clearly.

3. We note your response to prior comment 2 that under the investment management agreement Apollo Asset Management Europe PC LLP manages approximately 20% of your total cash and investments as of September 30, 2024 and that you are not dependent or reliant on any one investment manager. We also note that the description of this agreement appears on page 221 under subheading “Material Agreements and Related Party Transaction.” Given the significant cash and investments under management by Apollo as well as other disclosure included in the filing, the “IMAs” appear to be a material agreements (as currently in effect or subsequent to the novation referenced on page 61) that should be filed with your registration statement. Please revise accordingly.

Page 3

#### Response
: The Registrant acknowledges the Staff’s comment and has filed: (1) the form of investment management agreement that is currently in effect; (2) the form deed of novation by and among each of the Registr