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Schedule II - Condensed Financial Information of Registrant | 12 Months Ended
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Dec. 31, 2024
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, 2024 and 2023
|  | As at December 31, 2024 |  | As at December 31, 2023
|  | ($ in millions)
ASSETS |  |  |  |
Fixed income securities (trading) |  | $ | 44.3 |  |  | $ | 43.2 |
Cash and cash equivalents |  | 43.5 |  |  | 43.5 |
Investments in subsidiaries (1) |  | 3,361.3 |  |  | 3,284.2 |
Intercompany funds due from affiliates |  | 20.6 |  |  | 4.3 |
Right-of-use operating lease assets |  | 1.0 |  |  | 1.5 |
Other receivables |  | 275.0 |  |  | — |
Other assets |  | 44.7 |  |  | 5.6 |
Total assets |  | $ | 3,790.4 |  |  | $ | 3,382.3 |
LIABILITIES |  |  |  |
Accrued expenses and other payables |  | $ | 20.7 |  |  | $ | 27.8 |
Intercompany funds due to affiliates |  | 96.9 |  |  | 144.7 |
Long-term debt |  | 300.0 |  |  | 300.0 |
Operating lease liabilities |  | 0.9 |  |  | 1.3 |
Total liabilities |  | $ | 418.5 |  |  | $ | 473.8 |
SHAREHOLDERS’ EQUITY |  |  |  |
Ordinary shares |  | $ | 0.6 |  |  | $ | 0.6 |
Preference shares |  | 970.5 |  |  | 753.5 |
Additional paid in capital |  | 761.2 |  |  | 761.2 |
Retained earnings |  | 2,029.7 |  |  | 1,793.5 |
Accumulated other comprehensive income, net of taxes: |  |  |  |
Unrealized (loss) on investments |  | (198.2) |  |  | (227.6) |
(Loss) on derivatives |  | (5.3) |  |  | (0.2) |
Cumulative (losses) on foreign currency translation adjustments |  | (186.6) |  |  | (172.5) |
Total accumulated other comprehensive (loss) |  | (390.1) |  |  | (400.3) |
Total shareholders’ equity |  | 3,371.9 |  |  | 2,908.5 |
Total liabilities and shareholders’ equity |  | $ | 3,790.4 |  |  | $ | 3,382.3 |
____________________ (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 “equity in net earnings of subsidiaries and other investments, equity method” 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, 2024, 2023 and 2022
|  | Twelve Months Ended December 31, 2024 |  | Twelve Months Ended December 31, 2023 |  | Twelve Months Ended December 31, 2022
|  | ($ in millions)
Operating Activities: |  |  |  |  |  |
Equity in net earnings of subsidiaries and other investments, equity method |  | $ | 108.9 |  |  | $ | 304.7 |  |  | $ | 14.2 |
Dividend income |  | 511.4 |  |  | 364.4 |  |  | 121.7 |
Net realized and unrealized investment gains/(losses) |  | 0.5 |  |  | 1.1 |  |  | (4.0) |
Other income |  | 4.3 |  |  | 3.2 |  |  | 1.0 |
Total revenues |  | $ | 625.1 |  |  | $ | 673.4 |  |  | $ | 132.9 |
Expenses: |  |  |  |  |  |
General, administrative and corporate expenses |  | $ | (109.5) |  |  | $ | (121.3) |  |  | $ | (62.7) |
Interest expense |  | (21.1) |  |  | (15.6) |  |  | (14.3) |
Other expense |  | (3.9) |  |  | (1.8) |  |  | (4.8) |
Income from operations before income taxes |  | 490.6 |  |  | 534.7 |  |  | 51.1 |
Income tax expense |  | (4.5) |  |  | — |  |  | — |
Net income |  | $ | 486.1 |  |  | $ | 534.7 |  |  | $ | 51.1 |
Other comprehensive income/(loss), net of taxes: |  |  |  |  |  |
Change in unrealized gains/(losses) on investments |  | $ | 29.4 |  |  | $ | 105.6 |  |  | $ | (367.8) |
Net change from current period hedged transactions |  | (5.1) |  |  | (14.0) |  |  | 15.4 |
Change in foreign currency translation adjustment |  | (14.1) |  |  | 14.4 |  |  | (30.9) |
Other comprehensive income/(loss), net of tax |  | 10.2 |  |  | 106.0 |  |  | (383.3) |
Comprehensive Income /(loss) |  | $ | 496.3 |  |  | $ | 640.7 |  |  | $ | (332.2) |
ASPEN INSURANCE HOLDINGS LIMITED SCHEDULE II - CONDENSED FINANCIAL INFORMATION OF REGISTRANT (CONTINUED) STATEMENTS OF CASH FLOWS For the Twelve Months Ended December 31, 2024, 2023 and 2022
|  | Twelve Months Ended December 31, 2024 |  | Twelve Months Ended December 31, 2023 |  | Twelve Months Ended December 31, 2022
|  | ($ in millions)
Cash flows from operating activities: |  |  |  |  |  |
Net income (excluding equity in net earnings of subsidiaries) |  | $ | 377.2 |  |  | $ | 230.0 |  |  | $ | 36.9 |
Adjustments: |  |  |  |  |  |
Realized and unrealized investment (gains)/losses |  | (0.4) |  |  | (14.8) |  |  | 19.7 |
Loss/(gain) on derivative contracts |  | — |  |  | 14.0 |  |  | (15.4) |
Depreciation and amortization |  | 0.7 |  |  | 0.5 |  |  | 0.5 |
Interest on operating lease liabilities |  | 0.1 |  |  | 0.1 |  |  | 0.1 |
Change in other assets |  | (39.0) |  |  | 0.3 |  |  | 2.1 |
Change in accrued expenses and other payables |  | (7.1) |  |  | 5.5 |  |  | (3.2) |
Change in intercompany activities |  | (64.1) |  |  | (38.4) |  |  | 41.1 |
Change in operating lease liabilities |  | (0.5) |  |  | (0.5) |  |  | (0.6) |
Net cash provided by operating activities |  | $ | 266.9 |  |  | $ | 196.7 |  |  | $ | 81.2 |
Cash flows from investing activities: |  |  |  |  |  |
(Purchases) of fixed income securities, trading |  | $ | (11.3) |  |  | $ | (8.1) |  |  | $ | (10.0) |
Proceeds from sales and maturities of fixed securities, trading |  | 10.3 |  |  | 6.4 |  |  | 7.8 |
Investment in subsidiaries |  | 42.0 |  |  | (105.7) |  |  | 5.0 |
Net cash provided by/(used in) investing activities |  | $ | 41.0 |  |  | $ | (107.4) |  |  | $ | 2.8 |
Cash flows from financing activities: |  |  |  |  |  |
Repayment of short-term debt |  | $ | — |  |  | $ | (300.0) |  |  | $ | — |
Proceeds from term loan facility |  | — |  |  | 300.0 |  |  | — |
Redemption of preference shares |  | (275.0) |  |  | — |  |  | — |
Preference share issuance |  | 217.0 |  |  | — |  |  | — |
Dividends paid on ordinary shares |  | (195.0) |  |  | (40.3) |  |  | (40.0) |
Dividends paid on preference shares |  | (54.9) |  |  | (49.9) |  |  | (44.6) |
Net cash (used in) financing activities |  | $ | (307.9) |  |  | $ | (90.2) |  |  | $ | (84.6) |
(Decrease) in cash and cash equivalents |  | — |  |  | (0.9) |  |  | (0.6) |
Cash and cash equivalents — beginning of period |  | 43.5 |  |  | 44.4 |  |  | 45.0 |
Cash and cash equivalents — end of period |  | $ | 43.5 |  |  | $ | 43.5 |  |  | $ | 44.4 |

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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 -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481231/810-10-45-11 + Details
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