Company: AHL
Filing Date: 2025-05-08
Form Type: 424B4
Source: 0001628280-25-023859
Chunk: 161

Company: ASPEN INSURANCE HOLDINGS LTD
Filing Date: 2025-05-08
Form: 424B4
Chunk 161
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 |     |            |  1.2 |   |     |                  |    13.0 |     |            |  0.5 |   |
| Adjusted losses and loss adjustment expenses(1)            |     |                                  | 1,682.8 |     |            | 58.3 |   |     |                  | 1,524.5 |     |            | 58.3 |   |     |                  | 1,664.9 |     |            | 61.9 |   |
| Impact of the LPT                                          |     |                                  |    35.0 |     |            |  1.1 |   |     |                  |    28.5 |     |            |  1.1 |   |     |                  |    15.1 |     |            |  0.6 |   |
| Total losses and loss adjustment expenses                  |     | $                                | 1,717.8 |     |            | 59.4 | % |     | $                | 1,553.0 |     |            | 59.4 | % |     | $                | 1,680.0 |     |            | 62.5 | % |

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(1) Adjusted losses and loss adjustment expenses and the adjusted loss ratio are non-GAAP financial measures as defined under SEC rules and regulations. The calculation of the adjusted loss ratio is presented above. Refer to “—Key Performance Measures and Non-GAAP Financial Measures” for further details.

2024 compared to 2023

The overall loss ratio has remained consistent at 59.4% for both 2023 and 2024, with losses and loss adjustment expenses increasing from $1,553.0 million in 2023 to $1,717.8 million in 2024. This was mainly due to the following:

Current accident year losses, excluding the impact of catastrophe losses. Current accident year losses, excluding the impact of catastrophe losses, contributed $1,494.9 million or 51.8 percentage points for 2024 compared to $1,372.1 million or 52.5 percentage points for 2023. The decrease is mainly due to a change in business mix, with increased net earned premium in specialty reinsurance, which attracts a lower loss ratio specifically within its mortgage portfolio, partially offset by an increase in the frequency and severity of losses in financial and professional lines