Aspen Reports Results Three and Nine Months Ended September 30, 2024

Net Income Available to Ordinary Shareholders of $43 million and Operating Income of $87 million for the Three Months Ended September 30, 2024

Net Income Available to Ordinary Shareholders of $196 million and Operating Income of $288 million for the Nine Months Ended September 30, 2024

Operating Return on Average Equity of 15.8% and Adjusted Combined Ratio of 91.5% for the Three Months Ended September 30, 2024

Operating Return on Average Equity of 17.6% and Adjusted Combined Ratio of 88.2% for the Nine Months Ended September 30, 2024

Aspen Insurance Holdings Limited (“Aspen”) today reported results for the three and nine months ended September 30, 2024.

Mark Cloutier, Executive Chairman and Group Chief Executive Officer, commented: “Aspen has once again delivered strong performance across our underwriting and investment portfolios, and from Aspen Capital Markets.

“For the nine months ended September 30, we saw gross written premium grow by 15.8% to $3.6 billion (2023: $3.1 billion), demonstrating the attractiveness of our platform and the relevance of our business to clients and trading partners for both insurance and reinsurance. Aspen Capital Markets generated fee income of $112 million*, an increase of 22%, while net investment income grew 15.2% to $239 million. The resulting operating income of $288 million** represents an increase of 6.5% over the prior year.

“In a year challenged by a number of industry-wide major loss events, these results are driven by Aspen’s expert and disciplined underwriting, consistent investment performance and a growing contribution from Aspen Capital Markets, resulting in an annualized return on average equity of 17.6%** and an adjusted combined operating ratio of 88.2%**. Looking forward, we believe we have the earnings engines , culture, market standing, and risk management that positions us very well to continue to deliver much needed solutions to our customers and trading partners, while also achieving sustainable growth and consistent returns for our shareholders across a broad spectrum of industry loss event sets and cycles.

“In the aftermath of Hurricanes Helene and Milton, our thoughts are with the communities affected, and we remain committed to playing our part in the recovery and rebuild. As a result of our careful and balanced approach to managing our risk portfolio, Aspen’s exposure to Hurricanes Helene and Milton are limited and fall within expectations. Hurricane Milton, net of reinsurance and reinstatement premiums, is expected to generate claims in the range of $40 - $60 million, based on our modelled loss projections and exposure analysis, at an industry loss estimate of $30 billion, and will be included in the Company’s fourth quarter results.”

Full earnings materials

The full earnings press release for the three and nine months ended September 30, 2024 will be published on Aspen’s website at www.aspen.co.

About Aspen Insurance Holdings Limited (“Aspen” or the “Company”)

Aspen provides insurance and reinsurance coverage to clients in various domestic and global markets through wholly-owned operating subsidiaries in Bermuda, the United States and the United Kingdom, as well as its branch operations in Canada, Singapore and Switzerland. For the year ended December 31, 2023, Aspen reported $15.2 billion in total assets, $7.8 billion in gross loss reserves, $2.9 billion in total shareholders’ equity and $4.0 billion in gross written premiums. Aspen's operating subsidiaries have been assigned a rating of “A-” by Standard & Poor’s Financial Services LLC and an “A” (“Excellent”) by A.M. Best Company Inc. For more information about Aspen, please visit www.aspen.co.

Please refer to the “Financials – Annual Reports” section of Aspen’s investor website for a copy of our Annual Report on Form 20-F.

Cautionary Statement Regarding Forward-Looking Statements

This press release or any other written or oral statements made by or on behalf of the Company may contain written “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are made pursuant to the “safe harbor” provisions of The Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that do not relate solely to historical or current facts. In particular, statements using the words such as “expect,” “intend,” “plan,” “believe,” “aim,” “project,” “anticipate,” “seek,” “will,” “likely,” “assume,” “estimate,” “may,” “continue,” “guidance,” “objective,” “outlook,” “trends,” “future,��� “could,” “would,” “should,” “target,” “predict,” “potential,” “on track” or their negatives or variations and similar terminology and words of similar import generally involve forward-looking statements.

All forward-looking statements rely on a number of assumptions, estimates and data concerning future results and events and that are subject to a number of uncertainties, assumptions and other factors, many of which are outside Aspen’s control that could cause actual results to differ materially from such forward-looking statements. Accordingly, there are important factors that could cause our actual results to differ materially from those anticipated in the forward-looking statements, including, but not limited to, our exposure to weather-related natural disasters and other catastrophes, the direct and indirect impact of global climate change, our relationship with, and reliance upon, a limited number of brokers for both our insurance and reinsurance business, the impact of inflation, our exposure to credit, currency, interest and others risks within our investment portfolio, the cyclical nature of the insurance and reinsurance industry, the occurrence, timing and results of, and market reaction to, our proposed initial public offering and proposed listing of our ordinary shares on the New York Stock Exchange and many other factors. For a detailed description of these uncertainties and other factors that could impact the forward-looking statements in this press release and other communications issued by or on behalf of Aspen, please see the “Risk Factors” section in Aspen’s Annual Report on Form 20-F for the twelve months ended December 31, 2023, as filed with the SEC, which should be deemed incorporated herein.

The inclusion of forward-looking statements in this press release or any other communication should not be considered as a representation by Aspen that current plans or expectations will be achieved. Aspen undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.

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