...May 31, 2024 LONDON (S&P Global Ratings) May 31, 2024--S&P Global Ratings said today that it is closely monitoring the ongoing correction of an internal control remediation by Aspen Insurance Holdings Ltd. (core entities rated A-/Stable). We believe that management continues to strengthen the company's controls and therefore our assessment of the group's overall governance credentials is unchanged. In its year-end 2021 financial statements, Aspen flagged various material weaknesses connected with currency matching and the treatment of foreign exchange gains/losses; deferred income tax; and the recognition of outward reinsurance premium. We understand that all but one of the material weaknesses identified in 2021 have been remediated. More recently, its 2023 year-end financial statement, Aspen reported on the ongoing weakness affecting its internal controls for financial reporting. Specifically, controls related to reinsurance premiums payable and reinsurance receivable had been ineffective...
