Company: AHL
Filing Date: 2025-03-19
Form Type: 20-F
Source: 0001267395-25-000019
Chunk: 62

Company: ASPEN INSURANCE HOLDINGS LTD
Filing Date: 2025-03-19
Form: 20-F
Item: Item 3
Chunk 62
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. S. corporation for U. S. federal income tax purposes generally is considered a CFC if 10% U. S. Shareholders own (directly, indirectly through non-U. S. entities or constructively), in the aggregate, more than 50% of the total combined voting power of all classes of voting stock of that non-U. S. corporation or more than 50% of the total value of all stock of that non-U. S. corporation. However, for the purposes of taking into account insurance income, these 50% thresholds are generally reduced to 25%. Further, special rules apply for purposes of taking into account any related person insurance income (“ RPII”) of a non-U. S. corporation, as described below.

Whether Aspen Holdings is a CFC for a taxable year will depend upon facts regarding our direct and indirect shareholders, about which we have limited information. Accordingly, no assurance can be provided that Aspen Holdings will not be a CFC. Further, regardless of whether Aspen Holdings is a CFC, most or all of our non-U. S. subsidiaries are generally treated as CFCs because our U. S. subsidiaries generally are treated as constructively owning the stock of our non-U. S. subsidiaries. Accordingly, any 10% U. S. Shareholders of Aspen Holdings may be required to include in gross income for U. S. federal income tax purposes for each taxable year their pro rata shares of all or a portion of the subpart F income and tested income generated by our non-U. S. companies (with various adjustments), regardless of whether any distributions are made to them. Any such 10% U. S. Shareholders should consult their own tax advisors regarding the application of these rules to them.

U. S. persons who hold our shares may be subject to U. S. federal income taxation at ordinary income rates on their proportionate share of our related person insurance income.

In general, if a non-U. S. corporation is a “ RPII CFC” (as defined below) at any time during a taxable year, a U. S. person who owns (directly or indirectly through certain entities) any shares of the non-U. S. corporation (a “ U. S. RPII Shareholder”) must include in its gross income for U. S. federal income tax purposes its pro rata share of the non-U. S. corporation’s RPII with respect to any shares that such U. S