Company: MHLA
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001412100-25-000043
Chunk: 114

Company: Maiden Holdings, Ltd.
Filing Date: 2025-05-12
Form: 10-Q
Item: Item 1
Chunk 114
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 of capital of 1.30x, above our targeted returns.

 67

Total returns on our inactive alternative investments by asset class from inception are shown below as of March 31, 2025 along with total returns on our active alternative investment portfolio by asset class from inception as of March 31, 2025:

Asset ClassMarch 31, 2025Total Completed InvestmentsMarch 31, 2025Total Active Investments($ in thousands)ContributionsIRRMOIC (x)ContributionsIRRMOIC (x)Private Equity$45,505 7.7 %1.18 $58,922 12.7 %1.56 Private Credit68,990 5.0 %1.10 1,808 12.2 %1.27 Hedge Funds25,000 5.2 %1.12 — — %— Alternatives11,358 48.9 %1.55 103,597 1.2 %1.03 Venture Capital3,925 14.3 %2.22 26,196 2.8 %1.06 Real Estate— — %— 63,726 (3.1)%0.93 Total$154,778 8.7 %1.19 $254,249 2.8 %1.08 

We believe our alternative investment portfolio remains well positioned to achieve its targeted longer-term returns.

Other Balance Sheet Changes 

The following table summarizes our other material balance sheet changes at March 31, 2025 and December 31, 2024: 

($ in thousands)March 31, 2025December 31, 2024Change in $Change %Reinsurance recoverable on unpaid losses$549,350 $571,331 $(21,981)(3.8)% Net loan receivable from related party128,118 167,975 (39,857)(23.7)%Deferred commission and other acquisition expenses5,524 8,102 (2,578)(31.8)%Reserve for loss and LAE757,286 793,679 (36,393)(4.6)%Unearned premiums26,196 29,793 (3,597)(12.1)%Accrued expenses and other liabilities51,818 77,966 (26,148)(33.5