Company: AHL
Filing Date: 2025-04-29
Form Type: F-1/A
Source: 0001628280-25-020463
Chunk: 141

Company: ASPEN INSURANCE HOLDINGS LTD
Filing Date: 2025-04-29
Form: F-1/A
Chunk 141
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 the terms of the LPT (As at December 31, 2023 — $420 million).

Aspen Capital Markets. ACM reported total fee income of $169.0 million for the twelve months ended December 31, 2024 compared to $135.5 million in 2023, an increase of $33.5 million. This fee income is reflected as an offset to our acquisition costs and therefore benefits underwriting income. Our capital markets franchise has continued to grow with sourced third-party capital increasing to $2,207.4 million at the end of 2024, up from $1,662.6 million at the end of 2023. Our ability to grow and diversify the capital we source, notwithstanding a challenging environment, supports our core proposition that capital markets investors are key partners in Aspen’s future growth and innovation efforts.

Investment Performance. In 2024, we generated net investment income of $318.0 million (2023 — $275.7 million), an increase of 15.3% from the prior year. The increase in net investment income was due to the active repositioning of our investments during attractive market conditions to take advantage of higher interest rates. The book yield on the fixed income securities portfolio as at December 31, 2024, was 4.2% compared with 3.8% as at December 31, 2023.

For the year ended December 31, 2024, the Company recognized net realized and unrealized investment losses of $49.5 million (2023 — gains of $14.5 million). This is largely due to realized losses resulting from the active rotations of the investment portfolio and our privately-held investments, partially offset by unrealized gains attributable to market movements.

Shareholders Equity. Our continued strong performance further enhanced our balance sheet strength which allowed Aspen to pay ordinary share dividends of $195.0 million to Highlands Bermuda Holdco, Ltd. in the twelve months ended December 31, 2024. This is compared to $40.3 million of ordinary share dividends the Company paid during the twelve months ended December 31, 2023.

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LPT Agreement

On January 10, 2022, the Company entered into the LPT agreement with Enstar. The LPT resulted in Enstar assuming net loss reserves of $3,120.0 million, for losses with dates of loss on or prior to December 31, 2019, subject to