Company: AHL
Filing Date: 2025-04-29
Form Type: F-1/A
Source: 0001628280-25-020463
Chunk: 155

Company: ASPEN INSURANCE HOLDINGS LTD
Filing Date: 2025-04-29
Form: F-1/A
Chunk 155
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   |     |   |  -100.9 |   |     |   |  -274.2 |   |     |   |  -177.3 |   |
| Operating income/(loss)                                                                 |                                     | $                                |   432.5 |   |     | $ |   367.6 |   |     | $ |   202.3 |   |     | $ |    50.6 |   |     | $ |   -96.7 |   |     | $ |   -83.1 |   |     | $ |     0.3 |   |
| Operating return on average equity                                                      |                                     |                                  |    19.4 | % |     |   |    20.2 | % |     |   |    11.9 | % |     |   |     2.4 | % |     |   |    -5.2 | % |     |   |    -3.9 | % |     |   |     0.0 | % |
| Return on average equity                                                                |                                     |                                  |    19.4 | % |     |   |    26.7 | % |     |   |     0.4 | % |     |   |    -0.7 | % |     |   |    -5.4 | % |     |   |   -12.9 | % |     |   |    -7.8 | % |

Ratio of debt and hybrids to total capital is calculated by adding Preference Shares (aggregate liquidation preference net of issuance costs) and the aggregate principal amount of short-term and long-term debt and dividing by total capital. Total capital is defined as shareholders’ equity plus outstanding debt.

Total return on average cash and investments, pre-tax represents total pre-tax return/(loss) on investments as a percentage of average beginning and ending total cash and investments during the period.

Book value per ordinary share is calculated by adjusting shareholders’ equity by removing the impact of Preference Shares as at period end, and dividing it by the number of outstanding ordinary shares at the end of the period.

Book value per ordinary share excluding AOCI is book value per ordinary share adjusted to remove the impact of AOCI.

<div align='center'>100</div>

|                                              | ($ in millions, except percentages and per share amounts) | Twelve Months Ended December 31, |    2024 |       |     |   |