Company: AHL
Filing Date: 2025-03-20
Form Type: F-1/A
Source: 0001628280-25-014149
Chunk: 146

Company: ASPEN INSURANCE HOLDINGS LTD
Filing Date: 2025-03-20
Form: F-1/A
Chunk 146
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2024, an increase of $33.5 million compared to $135.5 million in 2023. Income from ACM’s activities represents ceding commissions and is accounted for as a reduction to acquisition expenses. Third-party capital grew to $2,207.4 million as at December 31, 2024, compared with $1,662.6 million at December 31, 2023.

• Operating return on average equity was 19.4% for 2024 compared with 20.2% in 2023.

Shareholders’ equity. Total shareholders’ equity increased by $463.4 million, or 15.9%, from $2,908.5 million as at December 31, 2023 to $3,371.9 million as at December 31, 2024, the most significant movements of which were as follows:

• an increase of $236.2 million in retained earnings due to net income of $486.1 million, partially off-set by $195.0 million in dividends on our Ordinary Shares and $54.9 million in dividends on our Preference Shares;

• other comprehensive income of $10.2 million, which included $29.4 million of net unrealized gains on available for sale investments, a $14.1 million net loss in foreign currency translation on investments classified as available for sale and a $5.1 million net loss in the value of hedged foreign exchange contracts;

• an increase in shareholders’ equity of $217.0 million, comprising of $225.0 million of total liquidation preference less issuance expenses of $8.0 million, relating to the issuance of 9,000,000 depository shares. Each depository share represents 1/1000 th interest in a share of the newly designated 7.000% Perpetual Non-Cumulative Preference Shares; and

• on January 1, 2025, the Company redeemed all 11,000,000 shares of its issued and outstanding 5.950% Fixed-to-Floating Rate Perpetual Non-Cumulative Preference Shares. The redemption price was paid on January 2, 2025. To facilitate this redemption, the funds of $275.0 million were transferred to a third party transfer agent on December 30, 2024 and are included in other assets in the consolidated balance sheet. For further details, refer to Note 26, “Subsequent Events” of our audited consolidated financial statements.

As at December