Company: AHL
Filing Date: 2025-05-08
Form Type: 424B4
Source: 0001628280-25-023859
Chunk: 429

Company: ASPEN INSURANCE HOLDINGS LTD
Filing Date: 2025-05-08
Form: 424B4
Chunk 429
---
.6 | % |     |       |    59.4 | % |
| Acquisition cost ratio                              |     |                                       |    17.4 |   |     |           |    12.2 |   |     |       |    14.5 |   |
| General and administrative expense ratio            |     |                                       |    10.9 |   |     |           |    16.7 |   |     |       |    14.0 |   |
| Expense ratio                                       |     |                                       |    28.3 |   |     |           |    28.9 |   |     |       |    28.5 |   |
| Combined ratio                                      |     |                                       |    85.1 | % |     |           |    90.5 | % |     |       |    87.9 | % |

________________

(1) Corporate and other expenses includes other income/(expenses), which were previously presented separately.

(2) Non-operating expenses in the twelve months ended December 31, 2024 includes expenses in relation to consulting fees, non-recurring transformation program costs, and other non-recurring costs.

<div align='center'>F-20</div>

|                                                       |     | Twelve Months Ended December 31, 2023 |         |   |     |           |         |   |     |       |         |   |
|:------------------------------------------------------|:----|:--------------------------------------|--------:|:--|:----|:----------|--------:|:--|:----|:------|--------:|:--|
|                                                       |     | Reinsurance                           |         |   |     | Insurance |         |   |     | Total |         |   |
|                                                       |     | -$ in millions                        |         |   |     |           |         |   |     |       |         |   |
| Underwriting Revenues                                 |     |                                       |         |   |     |           |         |   |     |       |         |   |
| Gross written premiums                                |     | $                                     | 1,521.0 |   |     | $         | 2,446.6 |   |     | $     | 3,967.6 |   |
| Net written premiums                                  |     |                                       | 1,098.0 |   |     |           | 1,483.9 |   |     |       | 2