Company: MHLA
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001412100-25-000043
Chunk: 110

Company: Maiden Holdings, Ltd.
Filing Date: 2025-05-12
Form: 10-Q
Item: Item 1
Chunk 110
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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 1.12. This includes investments, primarily in the Alternatives and Real Estate asset classes where we anticipate future returns to emerge but have not as yet recognized either returns or gains based on the development stage of certain investments, which constitute 56.7% of our total alternative assets as of March 31, 2025. Excluding the investments still carried at cost, the internal rate of return was 8.8% with a multiple on invested capital of 1.21. 

Total returns on our alternative investments by asset class from inception are discussed in detail