Company: AHL
Filing Date: 2025-03-19
Form Type: 20-F
Source: 0001267395-25-000019
Chunk: 98

Company: ASPEN INSURANCE HOLDINGS LTD
Filing Date: 2025-03-19
Form: 20-F
Item: Item 4
Chunk 98
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 of the Company’s natural catastrophe PMLs information contains forward-looking statements based upon assumptions and expectations concerning the potential effect of future events that are subject to uncertainties. See Item 3D, “ Risk Factors” for further information. Any of these risk factors could result in actual losses that are materially different from the Company’s PML estimates below.

Natural catastrophe risk is a source of significant aggregate exposure for the Company and is managed by setting risk tolerance and limits, as discussed above. Natural catastrophe perils can impact geographic regions of varying size and can have economic repercussions beyond the geographic region directly impacted.

Ta b le of Contents

The Company’s worldwide estimated net PML exposures (net of retrocession and reinstatement premiums) as at January 1, 2025 and January 1, 2024 were as follows:

                                               As at January 1, 2025                                                                                                                  
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  ($ in millions, except for percentages)      1-in-100 year PML (1)      1-in-100 year PML as % of Shareholders’ Equity (1)      1-in-250 year PML as % of Shareholders’ Equity (1)  
  Worldwide All Perils (2)                     $                          7.2                                                     9.8                                                 

                                               As at January 1, 2024                                                                                                                  
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  ($ in millions, except for percentages)      1-in-100 year PML (1)      1-in-100 year PML as % of Shareholders’ Equity (1)      1-in-250 year PML as % of Shareholders’ Equity (1)  
  Worldwide All Perils (2)                     $                          7.9                                                     11.5                                                

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(1) Based on total shareholders’ equity of $3,371.9 million and $2,908.5 million as at December 31, 2024 and 2023, respectively. The estimates reflect Aspen’s view of the modelled maximum losses at the return periods shown which include input from various third-party vendor models and Aspen’s proprietary adjustments to these models and planned reinsurance purchases. Catastrophe loss experience may materially differ from the modelled PMLs due to limitations in one