Company: MHLA
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001412100-25-000043
Chunk: 312

Company: Maiden Holdings, Ltd.
Filing Date: 2025-05-12
Form: 10-Q
Item: Item 2
Chunk 312
---
") excludes unrealized foreign exchange gains and losses.

4.Average invested assets is the average of the amounts disclosed in our quarterly U.S. GAAP consolidated financial statements.

The following table details total investment returns for alternative investments by asset class for the three months ended March 31, 2025:

March 31, 2025Private EquityPrivate CreditAlternative AssetsVenture CapitalReal EstateTotal ($ in thousands)Gross investment income$427$—$(3,103)$—$170$(2,506)Net realized and unrealized gains (losses)2,01942(12)1,343(60)3,332Total Investment Return$2,446$42$(3,115)$1,343$110$826Average Investments$58,477$1,858$104,193$24,865$63,457$252,850Gross Investment Returns4.2 %2.3 %(3.0)%5.4 %0.2 %0.3 %Annualized Gross Returns16.7 %9.0 %(12.0)%21.6 %0.7 %1.3 %

The following table details total investment returns for alternative investments by asset class for the three months ended March 31, 2024:

March 31, 2024Private EquityPrivate CreditAlternative AssetsVenture CapitalReal EstateTotal ($ in thousands)Gross investment income$(1,092)$903$1,457$5$540$1,813Net realized and unrealized gains (losses)7,8581,423(32)674(955)8,968Total Investment Return$6,766$2,326$1,425$679$(415)$10,781Average Investments$87,168$54,453$96,966$21,882$57,539$318,007Gross Investment Returns7.8 %4.3 %1.5 %3.1 %(0.7)%3.4 %Annualized Gross Returns31.0 %17.1 %5.9 %12.4 %(2.9)%13.6 %

During the three months ended March 31, 2025, on an inception to date basis through March 31, 2025, our alternative investment portfolio has produced an internal rate of return of 4.9% and a multiple on invested capital of 1.