Company: AHL
Filing Date: 2025-05-08
Form Type: 424B4
Source: 0001628280-25-023859
Chunk: 9

Company: ASPEN INSURANCE HOLDINGS LTD
Filing Date: 2025-05-08
Form: 424B4
Chunk 9
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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 accumulated other comprehensive income/(loss) (“AOCI”) is book value per ordinary share adjusted to remove the impact of AOCI.

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### SUMMARY

#### Who We Are
We are a leading specialty (re)insurer focused on total value creation for all of our stakeholders. With $4,609 million of gross written premiums for the twelve months ended December 31, 2024 and $3,968 million of gross written premiums for the twelve months ended December 31, 2023, we are a scaled multinational business with a diverse product mix balanced across our primary specialty insurance and opportunistic reinsurance franchises, which are both supported by our fee generating capital markets capabilities. We go to market with a single view of risk through our ‘One Aspen’ approach, which is designed to cater to complex, bespoke solutions that bring together our expertise spanning different lines of business, segments and platforms, enabling us to develop enhanced and differentiated offerings for our distribution partners and customers. We are focused on underwriting excellence and profitable growth to consistently deliver top quartile results, targeting mid-teen operating return on equity across market cycles. This is demonstrated by our combined ratio of 87.9% (adjusted combined ratio of 86.8%), return on average equity of 19.4% and operating return on average equity (“Op. ROE”) of 19.4% for the twelve months ended December 31, 2024. We also had a combined ratio of 87.5% (adjusted combined ratio of 86.4%), return on average equity of 26.7% and Op. ROE of 20.2% for the twelve months ended December 31, 2023.

Our primary specialty insurance product set is centered around niche specialty lines, such as credit and political risk, cyber, environmental and professional liability, where we can apply our extensive underwriting and industry expertise. Our opportunistic reinsurance business is centered around both specialty and traditional reinsurance lines where we apply risk selection criteria to create unique risk profiles rather than an index of the market as other larger peers may do. Our size presents a distinct advantage, providing us with