Company: AHL
Filing Date: 2025-03-20
Form Type: F-1/A
Source: 0001628280-25-014149
Chunk: 160

Company: ASPEN INSURANCE HOLDINGS LTD
Filing Date: 2025-03-20
Form: F-1/A
Chunk 160
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 previously written on a reinsurance basis through a strategic partnership until disposed of in the fourth quarter of 2020;

(ii) our global credit and surety reinsurance business that we ceased underwriting during the third quarter of 2019; and

(iii) our U.S. Agricultural business written via AgriLogic which was sold in December 2017.

(2) Legacy (insurance) represents:

(i) U.S. food and beverage product recall business, the renewal rights to which was sold to a third party in December 2020;

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Table of C ontents

(ii) U.S. surety business, which in July 2020 was subject to a renewal rights transaction;

(iii) includes international marine and energy liability products, and our global accident and health line of business, which, following a strategic review of our underwriting portfolio that began in December 2019, we determined to cease underwriting and started to wind down in February 2020 and March 2020, respectively;

(iv) professional liability and property and casualty coverages for small to medium sized U.K.-based businesses that were bound through our managing general agent, Aspen Risk Management Limited that we placed into runoff during the third quarter of 2019;

(v) international cargo insurance that we ceased underwriting during the fourth quarter of 2018;

(vi) our aviation line of business, which ceased underwriting during the third quarter of 2018;

(vii) marine hull insurance written through the Lloyd’s platform that we ceased underwriting during the third quarter of 2018;

(viii) international property insurance previously written via a joint underwriting initiative that we ceased underwriting during the first quarter of 2017; and

(ix) employers and public liability lines previously written that we ceased underwriting during the fourth quarter of 2015.

(3) Corporate and other net expenses for 2023 includes corporate expenses, other income and other expenses.

(4) Non-operating expenses includes costs related to severance, retention awards, amortization of intangible assets and other non-operating expenses.

(5) The general and administrative expense ratio in the total column excludes corporate and non-operating expenses.

Results of Operations for the twelve months ended December 31, 2024, 2023 and 2022.

Our consolidated financial statements are prepared in accordance with GAAP. The discussions that follow include tables and commentary relating to our consolidated income statement and our segmental operating results for the twelve