Company: AHL
Filing Date: 2025-03-20
Form Type: F-1/A
Source: 0001628280-25-014149
Chunk: 435

Company: ASPEN INSURANCE HOLDINGS LTD
Filing Date: 2025-03-20
Form: F-1/A
Chunk 435
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 in fair value of derivatives, interest expenses, net realized and unrealized foreign exchange gains or losses, and income taxes. These income and expense items are not allocated to the Company’s business segments as they are not directly related to the Company’s business segment operations and is consistent with how the CODM measures the performance of the business segments. The Company does not allocate its assets by business segment as we evaluate underwriting results of each segment separately from the results of our investment portfolio.

The Company uses underwriting ratios as measures of performance. The loss ratio is the ratio of losses and loss adjustment expenses to net earned premiums. The acquisition cost ratio is the ratio of acquisition costs to net earned premiums. The general and administrative expense ratio is the ratio of general and administrative expenses to net earned premiums. The combined ratio is the sum of the loss ratio, the acquisition cost ratio and the general and administrative expense ratio.

<div align='center'>F-21</div>

The following tables provide a summary of gross and net written and earned premiums, underwriting income or loss, ratios and reserves for each of the Company’s business segments for the twelve months ended December 31, 2024, 2023 and 2022:

|                                                     |     | Twelve Months Ended December 31, 2024 |         |   |     |           |         |   |     |       |         |   |
|:----------------------------------------------------|:----|:--------------------------------------|--------:|:--|:----|:----------|--------:|:--|:----|:------|--------:|:--|
|                                                     |     | Reinsurance                           |         |   |     | Insurance |         |   |     | Total |         |   |
|                                                     |     | -$ in millions                        |         |   |     |           |         |   |     |       |         |   |
| Underwriting Revenues                               |     |                                       |         |   |     |           |         |   |     |       |         |   |
| Gross written premiums                              |     | $                                     | 1,885.8 |   |     | $         | 2,723.5 |   |     | $     | 4,609.3 |   |
| Net written premiums                                |     |                                       | 1,275.7 |   |     |           | 1,666.9 |   |     |       | 2,942.6 |   |
| Gross earned premiums                               |