Company: AHL
Filing Date: 2025-03-19
Form Type: 20-F
Source: 0001267395-25-000019
Chunk: 359

Company: ASPEN INSURANCE HOLDINGS LTD
Filing Date: 2025-03-19
Form: 20-F
Item: Item 18
Chunk 359
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rawn letters of credit that are outstanding. We monitor the proportion of our otherwise liquid assets that are committed to trust funds or to the collateralization of letters of credit. As at December 31, 2024 and 2023, these funds amounted to approximately 46.4 7.7 50.2 7.5

Funds at Lloyd’s. AUL operates at Lloyd’s as the corporate member for Syndicate 4711. AUL also participates in underwriting activities of Carbon Syndicate 4747. Lloyd’s determines required regulatory capital by considering the underwriting activities that AUL participates in. Such capital, called Funds at Lloyd’s, consists of investable assets as at December 31, 2024 in the amount of $ 471.9 517.4

The amounts provided as Funds at Lloyd’s will be drawn upon and become a liability of the Company in the event of Syndicate 4711 declaring a loss at a level that cannot be funded from other resources, or if Syndicate 4711 requires funds to cover a short-term liquidity gap. The amount which the Company provides as Funds at Lloyd’s is not available for distribution to the Company for the payment of dividends. Aspen Managing Agency Limited, the managing agent to Syndicate 4711, is also required by Lloyd’s to maintain a minimum level of capital which as at December 31, 2024 was £ 0.4 0.5

U. S. Reinsurance Trust Fund. For its U. S. reinsurance activities, Aspen UK has established and must retain a multi-beneficiary U. S. trust fund for the benefit of its U. S. cedants so that they may take financial statement credit without the need to post cedant-specific security. The minimum trust fund amount is $ 20.0 100 648.8 823.5 1,001.5 1,016.9

Aspen Bermuda has also established and must retain a multi-beneficiary U. S. trust fund for the benefit of its U. S. cedants so that they may take financial statement credit without the need to post cedant-specific security. The minimum trust fund amount is $ 20.0 100 182.3 320.6$ 334.0(2023 - $ 394.7

F-55

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U. S. Surplus Lines Trust Fund. Aspen UK and Syndicate 4711 have