Company: AHL
Filing Date: 2025-05-08
Form Type: 424B4
Source: 0001628280-25-023859
Chunk: 129

Company: ASPEN INSURANCE HOLDINGS LTD
Filing Date: 2025-05-08
Form: 424B4
Chunk 129
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 2025; no dividends have been paid on such shares through December 31, 2024. During the twelve months ended December 31, 2023, we paid aggregate dividends of $21.7 million, $14.1 million and $14.1 million on our AHL PRC Shares, AHL PRD Shares and AHL PRE Shares, respectively. The terms of our Preference Shares contain restrictions on our ability to pay dividends to holders of our ordinary shares. For a more detailed description of our Preference Shares, see “Description of Share Capital—Outstanding Series of Preference Shares.”

Additionally, in the twelve months ended December 31, 2024, the Company paid ordinary share dividends of $195.0 million to Highlands Bermuda Holdco, Ltd., the holder of all the Company’s ordinary shares prior to the Pre-IPO Transaction. During the twelve months ended December 31, 2023, the Company paid ordinary share dividends of $40.3 million to Highlands Bermuda Holdco, Ltd.

Aspen Holdings is a holding company and, as such, it does not have any significant operations. Aspen Holdings’ assets primarily consist of ownership of the shares of its subsidiaries, including our Operating Subsidiaries, a portfolio of fixed income securities and cash and cash equivalents. As a result, we may not be able to pay any dividends to the holders of our ordinary shares unless our Operating Subsidiaries make distributions in an amount sufficient to cover the dividend that may be declared by us. Our Operating Subsidiaries are subject to capital, regulatory and other requirements that inform their ability to declare and pay dividends and make loans to other Aspen Group companies, which may limit their ability to declare and pay dividends to Aspen Holdings. Refer to “Certain Regulatory Considerations—Bermuda Insurance Regulation—Restrictions on Dividends, Distributions and Reduction of Capital,” “Certain Regulatory Considerations—U.K. and E.U. Insurance Regulation—Restrictions on Dividend Payments,” and “Certain Regulatory Considerations—U.S. Insurance Regulation—State Dividend Limitations” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations—Liquidity and Capital Resources” for more information on our ability to pay dividends.

Furthermore, we are subject to Bermuda regulatory constraints that affect our ability to pay dividends and make other distributions on our ordinary shares or other securities. Under the Companies Act, we may declare or pay a dividend only if we have reasonable grounds to believe that we are, and would after the payment be, able