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Schedule II - Condensed Financial Information of Registrant

12 Months Ended

Dec. 31, 2022

Condensed Financial Information Disclosure [Abstract]

Schedule II - Condensed Financial Information of Registrant

SCHEDULE II - CONDENSED FINANCIAL INFORMATION OF REGISTRANT

BALANCE SHEETS

As at December 31, 2022 and 2021

						As at December 31, 2022						As at December 31, 2021
						($ in millions, except per share amounts)
ASSETS
Fixed income maturities (trading)						40.5						42.6
Cash and cash equivalents						44.4						45.0
Investments in subsidiaries (1)						2,767.9						3,142.0
Intercompany funds due from affiliates						1.7						1.3
Right-of-use operating lease assets						2.0						2.5
Other assets						5.9						8.0
Total assets						$	2,862.4					$	3,241.4
LIABILITIES
Accrued expenses and other payables						22.3						25.5
Intercompany funds due to affiliates						180.5						139.0
Short-term debt						299.9						—
Long-term debt						—						299.9
Operating lease liabilities						1.7						2.2
Total liabilities						$	504.4					$	466.6
SHAREHOLDERS’ EQUITY
Ordinary Shares:
60,395,839 shares of par value $0.01 each (December 31, 2021 — 60,395,839)						$	0.6					$	0.6
Additional paid in capital						1,514.7						1,514.7
Retained earnings						1,349.0						1,382.5
Accumulated other comprehensive income, net of taxes:
Unrealized (loss)/gains on investments						(333.2)						34.6
Gain/(loss) on derivatives						13.8						(1.6)
Cumulative (losses) on foreign currency translation adjustments						(186.9)						(156.0)
Total accumulated other comprehensive (loss)						(506.3)						(123.0)
Total shareholders’ equity						2,358.0						2,774.8
Total liabilities and shareholders’ equity						$	2,862.4					$	3,241.4

____________________

(1)    The Company’s investment in subsidiaries is accounted for under the equity method and adjustments to the carrying value of these investments are made based on the Company’s share of capital, including share of income and expenses. Changes in the value were recognized in realized and unrealized investment gains and losses in the statement of operations.

ASPEN INSURANCE HOLDINGS LIMITED

SCHEDULE II  - CONDENSED FINANCIAL INFORMATION OF REGISTRANT - Continued

STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME

For the Twelve Months Ended December 31, 2022, 2021 and 2020

						Twelve Months Ended December 31, 2022						Twelve Months Ended December 31, 2021						Twelve Months Ended December 31, 2020
						($ in millions)
Operating Activities:
Equity in net earnings/(losses) of subsidiaries and other investments, equity method						$	14.2					$	(90.5)					$	(108.4)
Dividend income						121.7						193.0						141.5
Net realized and unrealized investment (losses)/gains						(4.0)						(0.5)						2.5
Other income						1.0						—						—
Total revenues						132.9						102.0						35.6
Expenses:
General, administrative and corporate expenses						(62.7)						(54.6)						(74.6)
Interest expense						(14.3)						(14.3)						(14.3)
Other expense						(4.8)						(3.3)						(3.1)
Income/(loss) from operations before income taxes						51.1						29.8						(56.4)
Income tax expense						—						—						—
Net income /(loss)						51.1						29.8						(56.4)
Amount attributable to non-controlling interest						—						—						—
Net income/(loss) attributable to Aspen Insurance Holdings Limited ordinary shareholders						51.1						29.8						(56.4)
Other comprehensive (loss)/income, net of taxes:
Change in unrealized (losses)/gains on investments						(367.8)						(158.6)						108.0
Net change from current period hedged transactions						15.4						(6.2)						0.3
Change in foreign currency translation adjustment						(30.9)						21.4						(11.9)
Other comprehensive (loss)/income, net of tax						(383.3)						(143.4)						96.4
Comprehensive (Loss) / Income						$	(332.2)					$	(113.6)					$	40.0

ASPEN INSURANCE HOLDINGS LIMITED

SCHEDULE II  - CONDENSED FINANCIAL INFORMATION OF REGISTRANT - Continued

STATEMENTS OF CASH FLOWS

For the Twelve Months Ended December 31, 2022, 2021 and 2020

						Twelve Months Ended December 31, 2022						Twelve Months Ended December 31, 2021						Twelve Months Ended December 31, 2020
						($ in millions)
Cash Flows From Operating Activities:
Net income (excluding equity in net earnings of subsidiaries)						$	36.9					$	120.3					$	52.0
Adjustments:
Realized and unrealized losses/(gains)						19.7						(6.7)						1.5
(Gain)/loss on derivative contracts						(15.4)						6.2						(0.3)
Amortization of right-of-use operating lease assets						0.5						0.5						0.4
Interest on operating lease liabilities						0.1						0.1						(0.4)
Change in other assets						2.1						(1.6)						0.5
Change in accrued expenses and other payables						(3.2)						1.4						15.9
Change in intercompany activities						41.1						35.0						41.6
Change in right-of use assets						—						(2.0)						—
Change in operating lease liabilities						(0.6)						1.5						—
Net cash generated by operating activities						81.2						154.7						111.2
Cash Flows From/(Used in) Investing Activities:
(Purchases)/proceeds of fixed income securities						(10.0)						(42.6)						75.6
Proceeds from sales and maturities of fixed maturities, trading						7.8						—						—
Investment in subsidiaries						5.0						(115.0)						(87.3)
Net cash from/(used in) investing activities						2.8						(157.6)						(11.7)
Cash Flows (Used in) Financing Activities:
Net cash (used in) financing activities						(84.6)						(44.5)						(44.5)
(Decrease)/increase in cash and cash equivalents						(0.6)						(47.4)						55.0
Cash and cash equivalents — beginning of period						45.0						92.4						37.4
Cash and cash equivalents — end of period						$	44.4					$	45.0					$	92.4

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- References

No definition available.

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- Definition

The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 10
-Section S99
-Paragraph 6
-Subparagraph (SX 210.5-04(Schedule I))
-URI https://asc.fasb.org/extlink&oid=126898705&loc=d3e5864-122674

Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 11
-URI https://asc.fasb.org/extlink&oid=126929396&loc=d3e5283-111683

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690

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