Company: AHL
Filing Date: 2025-04-29
Form Type: F-1/A
Source: 0001628280-25-020463
Chunk: 230

Company: ASPEN INSURANCE HOLDINGS LTD
Filing Date: 2025-04-29
Form: F-1/A
Chunk 230
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 |                        |                                  59.2 |     |            |   2.3 |   |
| Total                                    |     | $                                      |                               2,723.5 |     |            | 100.0 | % |     | $                      |                               2,446.6 |     |            | 100.0 | % |     | $                      |                               2,531.7 |     |            | 100.0 | % |

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(1) “United States and Canada” consists of individual policies that insure risks specifically in the United States and/or Canada, but not elsewhere.

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(2) “Worldwide excluding the United States” consists of individual policies that insure global risks with the specific exclusion of the United States.

(3) “Worldwide including the United States” consists of individual policies that insure global risks with the specific inclusion of the United States.

(4) “Other” comprises individual policies that insure risks in other countries including, but not limited to, countries in the Caribbean, South America and the Middle East.

For the twelve months ended December 31, 2024, our Insurance segment had $2,724 million of gross written premium, generated $150 million of underwriting income and had a combined ratio of 90.5% (adjusted combined ratio 89.9%). For the twelve months ended December 31, 2023, our Insurance segment had $2,447 million o f gross written premiums, generated $113 million of underwriting income and had a combined ratio of 92.3% (adjusted combined ratio 89.0%).

Reinsurance: Within this segment, we offer expertise in a variety of global reinsurance lines including casualty reinsurance, property catastrophe reinsurance, other property reinsurance, and specialty reinsurance. We take a simple, yet effective, distribution model targeting long-term relationships and product spaces that have demonstrated strong underwriting returns through market cycles. Our focus goes beyond traditional reinsurance, as we seek to provide our clients with innovative solutions, through both traditional retrocession, and the utilization of third-party capital through ACM alongside our own Aspen balance sheet capital. We are opportunistic yet disciplined in our approach, positioned to benefit from market dislocations and underwriting modest lines to reduce volatility from loss events with the aim of generating highly attractive risk-adjusted returns, as opposed to returns that just track the market index.

Our Reinsurance segment is organized into four portfolios: (1) casualty re