Aspen Reports Results for the Three and Nine Months Ended September 30, 2023

Net Income Available to Common Shareholders of $86 million and Operating Income of $79 million for the Three Months Ended
Net Income Available to Common Shareholders of $305 million and Operating Income of $270 million for the Nine Months Ended

Hamilton, Bermuda, November 22, 2023 – Aspen Insurance Holdings Limited (“Aspen”) today reported results for the three and nine months ended September 30, 2023.

Mark Cloutier, Executive Chairman and Group Chief Executive Officer, commented: “Aspen’s focus on disciplined underwriting, careful portfolio management and operational efficiency has delivered an excellent result for the quarter, with the business achieving an adjusted combined ratio* of 91.7% and operating income* of $79 million, both significant improvements over the same period last year. Our results also benefited from increased investment income, driven by a higher rate environment, as well as increased Aspen Capital Markets fee income** which enhanced the quality of our earnings.

Our objective is to drive continuous improvement in all aspects of our business. It is encouraging to see our third quarter results add to the positive trends of the first half of 2023, achieving an adjusted combined ratio of 87.1% and annualized operating return on average equity of 20.7% for the nine months ended September 30, 2023. As we move into 2024, we anticipate that market conditions will remain favorable in most of our classes. Aspen’s strong capital position, well-balanced portfolio and healthy team culture position us well to continue to provide meaningful capacity, services and solutions to our customers and trading partners, while earning top quartile returns for our shareholders.”