Company: AHL
Filing Date: 2025-03-19
Form Type: 20-F
Source: 0001267395-25-000019
Chunk: 374

Company: ASPEN INSURANCE HOLDINGS LTD
Filing Date: 2025-03-19
Form: 20-F
Item: Item 18
Chunk 374
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 communicated to the audit committee and that: (1) relate to accounts or disclosures that are material to the financial statements and (2) involved our especially challenging, subjective or complex judgments. The communication of critical audit matters does not alter in any way our opinion on the consolidated financial statements, taken as a whole, and we are not, by communicating the critical audit matters below, providing separate opinions on the critical audit matters or on the accounts or disclosures to which they relate.

Table of Contents

                                                Valuation of Incurred but not Reported Reserve Estimates, Gross and Net of Reinsurance                                                                                                                
  Description of the Matter                     At December 31, 2023, the Company’s reserves for losses and loss adjustment expenses, net of reinsurance, was $3,232 million, of which a significant proportion is incurred but not reported rese...  
  How We Addressed the Matter in Our Audit      To assess the actuarial methodologies applied, with the assistance of our actuarial specialists, we compared management’s methods to those used in the industry for similar lines of business. To...  
                                                Valuation of Privately– Held Investments                                                                                                                                                              
  Description of the Matter                     At December 31, 2023, the fair value of the Company’s privately-held investments totaled $475 million. The fair values are based on internally developed discounted cash flow models as discussed...  
  How We Addressed the Matter in Our Audit      To test the fair value estimates, among other procedures, we involved our valuation specialists to independently determine a range of fair values for a sample of securities, which we compared t...  

/s/ Ernst & Young LLP

We served as the Company's auditor from 2022 to 2024.

London, United Kingdom

April 1, 2024

Table of Contents

Item 19. Exhibit Index