Company: AHL
Filing Date: 2025-04-29
Form Type: F-1/A
Source: 0001628280-25-020463
Chunk: 172

Company: ASPEN INSURANCE HOLDINGS LTD
Filing Date: 2025-04-29
Form: F-1/A
Chunk 172
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----|-----:|--------:|:----|-----:|--------:|
| Fee income(1)       |                      |                                $ |   169.0 |     |    $ |   135.5 |     |    $ |   103.9 |
|                     |                      |               As at December 31, |         |     |      |         |     |      |         |
|                     |                      |                             2024 |         |     | 2023 |         |     | 2022 |         |
| Third-party capital |                      |                                $ | 2,207.4 |     |    $ | 1,662.6 |     |    $ | 1,252.7 |

________________

(1) Fee income earned through cessions to third-party capital vehicles is recorded through underwriting income/(loss) as a decrease to acquisition costs.

Corporate and other expenses

2024, 2023 and 2022

In 2024, we incurred corporate and other expenses of $97.3 million (2023 — $114.0 million). The decrease in corporate and other expenses in 2024 compared to 2023 was due to expense alignment in our functions which support corporate activities.

In 2023, we incurred corporate and other net expenses of $114.0 million (2022 — $83.6 million). In 2023, corporate and other net expenses includes other income and other expenses which were previously disclosed separately. The comparative has been re-presented to the current year presentation. The increase in corporate and other net expenses in 2023 compared to 2022 was due to increases in professional fees, IT related costs and higher letter of credit fees.

Non-operating expenses

2024, 2023 and 2022

In 2024, we incurred non-operating expenses of $29.9 million, which included expenses in relation to consulting fees paid to Apollo of $5.0 million, and non-recurring transformation and change activities of $24.9 million.

In 2023, we incurred non-operating expenses of $35.1 million, which included expenses in relation to consulting fees paid to Apollo of $5.0 million, non-recurring transformation and change activities of $25.2 million, a fixed asset write-off of $3.6 million and other non-recurring costs of $1.3 million.

In 2022, we incurred non-operating expenses of $36.