Company: MHLA
Filing Date: 2025-03-10
Form Type: 10-K
Source: 0001412100-25-000011
Chunk: 177

Company: Maiden Holdings, Ltd.
Filing Date: 2025-03-10
Form: 10-K
Item: Item 7
Chunk 177
---
2024:

Asset ClassDecember 31, 2024Total Completed InvestmentsDecember 31, 2024Total Active Investments($ in thousands)ContributionsIRRMOIC (x)ContributionsIRRMOIC (x)Private Equity$43,850 7.8 %1.18 $58,031 12.3 %1.48 Private Credit68,990 5.0 %1.10 1,909 12.4 %1.25 Hedge Funds25,000 5.2 %1.12 — — %— Alternatives11,358 48.9 %1.55 104,790 2.2 %1.06 Venture Capital3,925 14.3 %2.22 23,533 0.5 %1.01 Real Estate— — %— 63,187 (3.3)%0.94 Total$153,123 8.7 %1.19 $251,450 3.0 %1.08 

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

83

Other Balance Sheet Changes 

The following table summarizes the Company's other material balance sheet changes at December 31, 2024 and 2023: 

December 31, 20242023ChangeChange($ in thousands) $%Deferred commission and other acquisition expenses$8,102 $17,566 $(9,464)(53.9)%Funds withheld receivable12,650 143,985 (131,335)(91.2)%Reserve for loss and LAE793,679 867,433 (73,754)(8.5)%Unearned premiums29,793 46,260 (16,467)(35.6)%Deferred gain on retroactive reinsurance107,255 73,240 34,015 46.4 %Liability for investments purchased6,480 — 6,480 NMAccrued expenses and other liabilities77,966 28,244 49,722 176.0 %

The Company's deferred commission and other acquisition expenses decreased by 53.9% and unearned premiums decreased by 35.6% primarily due to the termination of the remaining business under both quota share contracts with AmTrust which have been in run-off since January 1