Company: AHL
Filing Date: 2025-03-19
Form Type: 20-F
Source: 0001267395-25-000019
Chunk: 83

Company: ASPEN INSURANCE HOLDINGS LTD
Filing Date: 2025-03-19
Form: 20-F
Item: Item 4
Chunk 83
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, subject to event limits where applicable and ceding commissions, we pay the same share of the covered original losses as we receive in premiums charged for the covered risks. Proportional contracts typically involve close client relationships which often include regular audits of the cedants’ data.

A high percentage of the property catastrophe reinsurance contracts we write exclude or limit coverage for losses arising from the peril of terrorism. Within the U. S., our other property reinsurance contracts generally include limited coverage for acts that are certified as “acts of terrorism” by the U. S. Treasury Department under the Terrorism Risk Insurance Act (including its various extensions, “ TRIA”). We have written a limited number of property reinsurance contracts, both on a pro rata and excess of loss basis, specifically covering the peril of terrorism. These contracts typically exclude coverage for nuclear, biological, chemical or radiological attack, though we have written a small number of contracts that do not exclude coverage for such attacks, the coverage of which may be applicable to non-terrorism events.

Specialty Reinsurance: Specialty reinsurance is written on an excess of loss and proportional basis and consists of mortgage reinsurance, marine, energy, technical lines (including nuclear and contingency), agriculture, terrorism, and other specialty lines. Our specialty agricultural reinsurance business covers crop and multi-peril business. Other specialty lines include reinsurance treaties and some insurance policies covering policyholders’ interests in marine, energy, contingency, terrorism, engineering, nuclear, medical expense and personal accident. Aspen ceased writing new and renewal reinsurance for the aviation, space and bloodstock business lines from October 2022.

Ta b le of Contents

Insurance

The insurance business we write can be analyzed by geographic region, reflecting the location of the insured risk, as set forth in the table below for the twelve months ended December 31, 2024, 2023 and 2022:

                                                 Twelve Months Ended December 31, 2024                                     Twelve Months Ended December 31, 2023                      Twelve Months Ended December 31, 2022                  
  Geographic Region                              Gross Written Premiums                                    % of Total      Gross Written Premiums                     % of Total      Gross Written Premiums                     % of Total  
                                                 ($ in millions, except for percentages)                                                                                                                                                     
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Australia/Asia                                 $                                               64.6             2.3      $