Company: AHL
Filing Date: 2025-04-29
Form Type: F-1/A
Source: 0001628280-25-020463
Chunk: 207

Company: ASPEN INSURANCE HOLDINGS LTD
Filing Date: 2025-04-29
Form: F-1/A
Chunk 207
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| Change in assumption     |     | Reserve for losses and loss expenses 
 ($ in millions)                      |         |
|:-------------------------|:----|:-------------------------------------|--------:|
| Six month acceleration   |     | $                                    | 3,712.6 |
| Three month acceleration |     | $                                    | 3,822.6 |
| No change (selected)     |     | $                                    | 3,950.6 |
| Three month deceleration |     | $                                    | 4,110.5 |
| Six month deceleration   |     | $                                    | 4,304.6 |

<div align='center'>141</div>

Net reserve for losses and loss adjustment expenses as at December 31, 2024 — Sensitivity to expected loss ratios

| Change in assumption |     | Reserve for losses and loss expenses 
 ($ in millions)                      |         |
|:---------------------|:----|:-------------------------------------|--------:|
| 10% favorable        |     | $                                    | 3,575.2 |
| 5% favorable         |     | $                                    | 3,762.9 |
| No change (selected) |     | $                                    | 3,950.6 |
| 5% unfavorable       |     | $                                    | 4,138.3 |
| 10% unfavorable      |     | $                                    | 4,326.0 |

The most significant variance in the above scenarios (i.e., a 10% unfavorable movement in expected loss ratios) would have the effect of increasing losses and loss expenses by $375.4 million.

Management believes that the reserve for losses and loss adjustment expenses is sufficient to cover expected claims incurred before the reporting date on the basis of the methodologies and judgments used to support its estimates. However, there can be no assurance that actual payments will not vary significantly from total reserves. The reserve for losses and loss adjustment expenses and the methodology of estimating such reserve are regularly reviewed and updated as new information becomes known. Any resulting adjustments are reflected in income in the period in which they become known.

#### Recoverability of Deferred Tax Asset
In assessing the recoverability of deferred tax assets, and the recognition/de-recognition of associated valuation allowances, the Company considered a number of factors that required significant judgment, such as successive years of achieving three-year cumulative net taxable income, recent operating trends, growth and profitability forecasts, premium and investment return assumptions, etc. when making its determination. For the