Company: MHLA
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001412100-25-000043
Chunk: 215

Company: Maiden Holdings, Ltd.
Filing Date: 2025-05-12
Form: 10-Q
Item: Item 8
Chunk 215
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 the Company's alternative asset portfolio as it continues to divest these assets in conjunction with its change in business strategy. Net realized and unrealized investment gains for the three months ended March 31, 2025 and 2024 are summarized in the table below by investment category: 

For the Three Months Ended March 31, ($ in thousands)20252024Net realized gains (losses): Fixed income assets(1)$(1)$(218)Other investments(133)— Total net realized losses(134)(218)Net unrealized gains (losses):Other investments4,762 9,839 Equity securities(1,297)(871)Total net unrealized gains3,465 8,968 Net realized and unrealized investment gains$3,331 $8,750 

(1) Fixed income assets includes AFS securities as well as cash, restricted cash, funds withheld receivable, and loan to related party.

Interest in Income of Equity Method Investments

Total interest in loss of equity method investments of $2.7 million were recognized for the three months ended March 31, 2025 compared to an interest in the income of equity method investments of $0.6 million for the same respective period in 2024. Equity method investments consist of real estate investments of $58.1 million and other investments of $20.7 million as of March 31, 2025. Interest in (loss) income of equity method investments for the three months ended March 31, 2025 and 2024 is detailed by investment category below:

For the Three Months Ended March 31,($ in thousands)20252024Other investments$(2,676)$253 Real estate investments(46)353 Interest in (loss) income of equity method investments$(2,722)$606 

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Net Loss and LAE

 Net loss and LAE decreased by $19.2 million for the first quarter of 2025 compared to the same period in 2024. Net losses were impacted by net favorable PPD of $12.4 million for the first quarter of 2025 compared to net adverse PPD of $6.6 million for the same period in 2024. Excluding PPD, current year losses were $4.7 million for the first quarter of 2025 compared to $5.1 million for the first quarter of 2024.

The cessation of active reinsurance underwriting on prospective risks included the