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Schedule II - Condensed Financial Information of Registrant

12 Months Ended

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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- 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
-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

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