Company: AHL
Filing Date: 2025-06-11
Form Type: 424B5
Source: 0001628280-25-030754
Chunk: 10

Company: ASPEN INSURANCE HOLDINGS LTD
Filing Date: 2025-06-11
Form: 424B5
Chunk 10
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 at any time and from time to time at the applicable redemption price and subject to the terms described under the headings “Description of Notes—Optional Redemption” and “Description of Notes—Conditions to Redemption and Repayment.” We may also redeem all of the notes under the circumstances described under the headings “Description of Notes—Redemption for Tax Purposes” and “Description of Notes—Conditions to Redemption and Repayment.” |

<div align='center'>S-3</div>

| Notwithstanding the foregoing, (i) prior to June 13, 2028 (three years after the initial issue date of the notes), the notes may be repaid or redeemed only with BMA Approval, including in instances where we or a subsidiary of ours replace the capital represented by the notes to be redeemed or repaid with capital having equal or better capital treatment as the notes under the Group Rules, (ii) the notes may be repaid or redeemed after three years from the initial issue date of the notes without BMA Approval if we or a subsidiary of ours replaces the capital represented by the notes to be redeemed or repaid with capital having equal or better capital treatment as the notes under the Group Rules, and (iii) the notes may not be repaid or redeemed at any time, including on the Scheduled Maturity Date, if the Enhanced Capital Requirement would be breached immediately before or after giving effect to the redemption or repayment of such notes, unless we or a subsidiary of ours replaces the capital represented by the notes to be redeemed or repaid with capital having equal or better capital treatment as the notes under the Group Rules (collectively, the “BMA Redemption Requirements”). |
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| Subject to the provisions set forth under “Description of Notes—Conditions to Redemption and Repayment” and “Description of Notes—Redemption for Tax Purposes” and, for the avoidance of doubt, the BMA Redemption Requirements, prior to June 1, 2030 (one month prior to the Scheduled Maturity Date) (the “Par Call Date”), we may redeem the notes at our option, in whole at any time, or in part from time to time, at a redemption price (expressed as a percentage of principal amount and rounded to three decimal places) equal to the greater of:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
 •(a) the sum of the present values of the remaining scheduled payments of principal and interest thereon discounted to the redemption