Company: MHLA
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001412100-25-000043
Chunk: 236

Company: Maiden Holdings, Ltd.
Filing Date: 2025-05-12
Form: 10-Q
Item: Item 8
Chunk 236
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 currencies at March 31, 2025 and December 31, 2024, respectively.

 61

For our non-U.S. dollar denominated corporate bonds, the following table summarizes the composition of the fair value of our fixed maturity investments at the dates indicated by ratings at March 31, 2025 and December 31, 2024:

Ratings(1)March 31, 2025December 31, 2024($ in thousands)Fair Value% of TotalFair Value% of TotalA+, A, A-$9,447 53.4 %$12,403 50.9 %BBB+, BBB, BBB-8,239 46.6 %11,970 49.1 %Total non-U.S. dollar denominated corporate bonds$17,686 100.0 %$24,373 100.0 %

(1)     Ratings as assigned by S&P, or equivalent

Other Investments, Equity Securities and Equity Method Investments

Our alternative investments are categorized as other investments, equity securities, and equity method investments as reported on our condensed consolidated balance sheets. These include private equity funds, private credit funds, investments in limited partnerships, as well as investments in direct lending entities and investments in technology-oriented insurance related businesses known as insurtechs. Private equity investments consist of direct investments in privately held entities, investments in private equity funds and private equity co-investments with sponsoring entities. Private credit investments consist of loans and other debt securities of privately held entities or investment sponsors. 

Our alternative investments as of March 31, 2025 and December 31, 2024 consisted of the following asset categories: 

March 31, 2025December 31, 2024($ in thousands)Carrying Value% of TotalCarrying Value% of TotalPrivately held common stocks$5,768 2.3 %$6,778 2.7 %Privately held preferred stocks6,082 2.4 %6,369 2.5 %Total equity securities$11,850 4.7 %$13,147 5.2 %Real estate investments$58,140 22.9 %$57,541 22.9 %Other equity method investments20,701 8.1 %23,746 9.4 %Total equity method investments$78,841 31.0 %$