Company: MHLA
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001412100-25-000043
Chunk: 240

Company: Maiden Holdings, Ltd.
Filing Date: 2025-05-12
Form: 10-Q
Item: Item 8
Chunk 240
---
 months ended March 31, 2025, compared to $17.1 million for the same respective period in 2024 largely due to lower interest income on the loan to related party and the funds withheld receivable. Also, the AFS fixed income portfolio is considerably smaller compared to the prior period due to the use of proceeds from sales and maturities to pay run-off reserve liabilities in both the AmTrust and Diversified Reinsurance segments. 

Our alternative investment portfolio increased by 1.1% in the first quarter of 2025 due to net purchases of private equity funds. The alternative investment portfolio produced a positive net return of 0.3% in the first quarter of  2025 compared to 3.4% for the same period in 2024. Please refer to Note 15. Subsequent Events of the Notes to Condensed Consolidated Financial Statements included in Part I Item 1. "Financial Information" for information regarding the recent sale of one the Company's private equity investments accounted for as an equity method investment held at March 31, 2025.

The following table summarizes our investment results for the three months ended March 31, 2025 and 2024: 

For the Three Months Ended March 31,($ in thousands)20252024Net investment income:Fixed income investments(1)$2,477 $6,411 Cash and restricted cash363 174 Other investments, including equities216 1,207 Investment expenses(22)(92)Total net investment income3,034 7,700 Net realized losses:Fixed income assets(1)(1)(218)Other investments, including equities(133)— Total net realized losses(134)(218)Net unrealized gains:Other investments, including equities3,465 8,968 Total net unrealized gains3,465 8,968 Interest in loss of equity method investments:Interest in (loss) income of equity method investments(2,722)606 Interest in (loss) income of equity method investments(2,722)606 Total investment return included in earnings (A)$3,643 $17,056 Other comprehensive income:Unrealized gains on AFS fixed maturity securities and equity method investments excluding foreign exchange (B)$726$1,018Total investment return = (A) + (B)$4,369$18,074Annualized income from fixed income assets(2)$11,360$26