Company: AHL
Filing Date: 2025-03-19
Form Type: 20-F
Source: 0001267395-25-000019
Chunk: 314

Company: ASPEN INSURANCE HOLDINGS LTD
Filing Date: 2025-03-19
Form: 20-F
Item: Item 18
Chunk 314
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 adjustments:                                                                                                                                
  Beginning of the year                                                                                  ( 172.5)                   ( 186.9)                   ( 156.0)               
  Change for the year, net of income taxes                                                                ( 14.1)                       14.4                    ( 30.9)               
  End of the year                                                                                        ( 186.6)                   ( 172.5)                   ( 186.9)               
  (Loss)/gain on derivatives:                                                                                                                                                         
  Beginning of the year                                                                                    ( 0.2)                       13.8                     ( 1.6)               
  Net change from current period hedged transactions, net of income taxes                                  ( 5.1)                    ( 14.0)                       15.4               
  End of the year                                                                                          ( 5.3)                     ( 0.2)                       13.8               
  Unrealized (depreciation)/appreciation on available for sale investments:                                                                                                           
  Beginning of the year                                                                                  ( 227.6)                   ( 333.2)                       34.6               
  Change for the year, net of income taxes                                                                   29.4                      105.6                   ( 367.8)               
  End of the year                                                                                        ( 198.2)                   ( 227.6)                   ( 333.2)               
  Total accumulated other comprehensive (loss)                                                           ( 390.1)                   ( 400.3)                   ( 506.3)               
  Total shareholders’ equity                                                                                    $      3,371.9             $      2,908.5             $      2,358.0  

_________________

(1) Preference shares of $1,000.0million, less issuance costs of $29.5million (December 31, 2023 and 2022 - $775.0million and $21.5million).

F-3

Table of Contents

ASPEN INSURANCE HOLDINGS LIMITED

CONSOLIDATED STATEMENTS OF CASH FLOWS

For The Twelve Months Ended December 31, 2024, 2023 and 2022

($ in millions)

                                                                                        Twelve Months Ended December 31,                                             
                                                                                                                    2024          2023            2022               
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Cash flows from operating activities:                                                                                                                              
  Net income