Company: AHL
Filing Date: 2025-06-11
Form Type: 424B5
Source: 0001628280-25-030754
Chunk: 16

Company: ASPEN INSURANCE HOLDINGS LTD
Filing Date: 2025-06-11
Form: 424B5
Chunk 16
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 that procedures implemented for the granting of such proxies will be sufficient to enable you to vote on any requested actions on a timely basis.

An increase in market interest rates could result in a decrease in the value of the notes.

In general, as market interest rates rise, notes bearing interest at a fixed rate generally decline in value. Consequently, if you purchase the notes and market rates increase, the market value of your notes may decline. We cannot predict the future level of market interest rates.

We are a holding company, and we are dependent on the ability of our subsidiaries to distribute funds to us.

We are a holding company and conduct substantially all of our operations through subsidiaries. Our only significant assets are the capital stock of our subsidiaries. Because substantially all of our operations are conducted through our insurance subsidiaries, substantially all of our consolidated assets are held by our subsidiaries and most of our cash flow, and consequently, our ability to pay any amounts due on the notes, is dependent on the earnings of those subsidiaries and the transfer of funds by those subsidiaries to us in the form of distributions or loans. The notes will be exclusively Aspen Holdings’ obligations, and will not be guaranteed by any of our subsidiaries. Our subsidiaries are separate and distinct legal entities and have no obligation, contingent or otherwise, to pay holders any amounts due on the notes or to make any funds available for payment on the notes, whether by dividends, loans or other payments. In addition, the ability of our insurance and reinsurance subsidiaries to make distributions to us is limited by applicable insurance laws and regulations. These laws and regulations and the determinations by the regulators implementing them may significantly restrict such distributions, and, as a result, adversely affect our overall liquidity. The ability of all of our subsidiaries to make distributions to us may also be restricted by, among other things, other applicable laws and regulations and the terms of our and our subsidiaries’ indebtedness.

Covenants contained in our revolving credit facility, Term Loan Credit Agreement and other credit facilities restrict our current and future operations and could trigger prepayment obligations.

Our revolving credit facility, Term Loan Credit Agreement and other credit facilities contain various business and financial covenants that impose restrictions on us and certain of our subsidiaries with respect to, among other things:

• consummating mergers and consolidations, amalgamations and sales of substantially all assets;

• incurring indebtedness and providing guarantees;

• disposing of stock and other assets;

• paying dividends, and repurchasing stock;

• making investments;

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