Company: AHL
Filing Date: 2025-03-20
Form Type: F-1/A
Source: 0001628280-25-014149
Chunk: 473

Company: ASPEN INSURANCE HOLDINGS LTD
Filing Date: 2025-03-20
Form: F-1/A
Chunk 473
---
 and temporary differences between the value of assets and liabilities for financial statement purposes and such values as measured by U.K., U.S., Bermuda and other tax laws and regulations.

In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences and carry forwards become deductible or creditable. Management considers the scheduled reversal of existing taxable temporary differences, carryback availability, projected future taxable income, and tax-planning strategies in making this assessment.

As at December 31, 2024, the Company has net operating losses carryforwards for U.S. federal income tax purposes of $ 324.8million (2023 — $ 354.9million), of which $ 247.2million relates to the U.S. operating subsidiaries and $ 77.6million to Aspen UK’s U.S. branch. The Company also has net operating losses carryforwards for U.K. corporate tax purposes of $ 249.5million (2023 — $ 248.1million), deferred syndicate losses of $ 29.3million (2023 — $ 64.5million profits), and losses in other jurisdictions of $ 86.1million (2023 — $ 97.8million losses).

<div align='center'>F-61</div>

The $ 324.8million that are available to offset future U.S. federal taxable income will expire between 2032and 2041. The amount of pre-merger net operating losses carryforwards that can be used each year is limited by section 382 to $ 6.5million per year for Aspen UK’s U.S. branch, and $ 20.8million per year for the next 15 years for the U.S. operating subsidiaries.

The net operating losses in the U.K. and other jurisdictions are available to offset future corporate income in those jurisdictions over an indefinite period.

For U.S. federal income tax purposes, the Company has capital loss carryforwards of $ 84.7million, of which $ 51.6million relates to the U.S. operating subsidiaries and $ 33.1million to Aspen UK’s branch, expiring between 2026 and 2028.

For U.K. corporate tax purposes, the Company has foreign tax credit carryforwards of $ 22.0