Company: AHL
Filing Date: 2025-05-08
Form Type: 424B4
Source: 0001628280-25-023859
Chunk: 159

Company: ASPEN INSURANCE HOLDINGS LTD
Filing Date: 2025-05-08
Form: 424B4
Chunk 159
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 |     | $               |   423.0 |     |          | 11.1 | % |     | $               |   380.6 |
| Insurance        |     |                                                                 | 1,056.6 |     |          |  9.8 | % |     |                 |   962.7 |     |          | -9.4 | % |     |                 | 1,062.1 |
| Total            |     | $                                                               | 1,666.7 |     |          | 20.3 | % |     | $               | 1,385.7 |     |          | -4.0 | % |     | $               | 1,442.7 |

2024 compared to 2023

Total ceded written premiums in 2024 increased by $281.0 million, or 20.3%, compared to 2023. Changes in our reinsurance program decreased our retention ratio, which is defined as net written premiums as a percentage of gross written premiums, from 65.1% in 2023 to 63.8% in 2024. Ceded written premiums increased for our Reinsurance segment, primarily due to an increase in the level of reinsurance purchased to protect our property catastrophe reinsurance and casualty reinsurance business lines, including higher cessions to our capital markets partners. Ceded written premiums increased for our Insurance segment in line with the growth in gross written premiums, with the retention ratio remaining consistent year on year.

2023 compared to 2022

Total ceded written premiums in 2023 decreased by $57.0 million, or 4.0%, compared to 2022. Changes in our reinsurance program decreased our retention ratio, which is defined as net written premiums as a percentage of gross written premiums, from 66.7% in 2022 to 65.1% in 2023. Ceded reinsurance premiums increased for our Reinsurance segment, primarily due to an increase in the level of reinsurance purchased to protect our property catastrophe reinsurance business line, including increased cessions to our capital markets partners. Ceded reinsurance premiums decreased for our Insurance segment primarily driven by a change in business mix and the decision to restructure a portion of our outwards reinsurance.

Net earned premiums

The following table sets forth the net earned premiums for our two business segments in the twelve months ended December 31, 2024, 2023 and