Company: AHL
Filing Date: 2025-04-29
Form Type: F-1/A
Source: 0001628280-25-020463
Chunk: 255

Company: ASPEN INSURANCE HOLDINGS LTD
Filing Date: 2025-04-29
Form: F-1/A
Chunk 255
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:----|:----------------------|------:|:----|:--------------------------------------------------|----:|:--|:----|:---------------------|------:|:----|:--------------------------------------------------|-----:|:--|
| ($ in millions, except for percentages) |     | 1-in-100 year PML(1)  |       |     | 1-in-100 year PML as % of Shareholders’ Equity(1) |     |   |     | 1-in-250 year PML(1) |       |     | 1-in-250 year PML as % of Shareholders’ Equity(1) |      |   |
| Worldwide All Perils(2)                 |     | $                     | 229.9 |     |                                                   | 7.9 | % |     | $                    | 335.7 |     |                                                   | 11.5 | % |

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(1) Based on total shareholders’ equity of $3,372 million and $2,909 million as at December 31, 2024 and 2023, respectively. The estimates reflect Aspen’s view of the modelled maximum losses at the return periods shown which include input from various third party vendor models and Aspen’s proprietary adjustments to these models and planned reinsurance purchases. Catastrophe loss experience may materially differ from the modelled PMLs due to limitations in one or more of the models or uncertainties in the application of policy terms and limits.

(2) Includes all natural catastrophe perils where Aspen has identified an appropriate stochastic model, such as hurricanes, typhoons, wildfire, earthquakes, etc., and includes a loading for non-modelled classes for our most material peril regions.

From January 1, 2024 to January 1, 2025, there were two main drivers of PML movement. The first was increased gross exposure on the Property Reinsurance lines to take advantage of increased ACM capacity during 2024. This was slightly offset by a retraction at January 1, 2025 with underwriting decisions to non-renew a number of risks. This would have resulted in a general reduction in net PMLs over the whole period. However, an updated view of risk was introduced for North Atlantic Hurricane which had impacts that varied significantly by region. The Worldwide All Perils 1-in-100 PML increased primarily due to the large model increases seen in the Florida and South East region of US Windstorm which also largely offset the Worldwide