Company: MHLA
Filing Date: 2025-03-10
Form Type: 10-K
Source: 0001412100-25-000011
Chunk: 173

Company: Maiden Holdings, Ltd.
Filing Date: 2025-03-10
Form: 10-K
Item: Item 7
Chunk 173
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.1 %Investment expenses$2,184 $240 Net investment returns$9,828 $23,382 Net Investment Returns3.5 %8.0 %

81

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

2.Alternative investments includes other investments, equity securities, and equity method investments.

3.Change in AOCI excludes unrealized foreign exchange gains and losses.

4.Average invested assets is the average of the amounts disclosed in our quarterly U.S. GAAP consolidated financial statements.

The following table details total investment returns for alternative investments by asset class at December 31, 2024:

December 31, 2024Private EquityPrivate CreditAlternative AssetsVenture CapitalReal EstateTotal ($ in thousands)Gross investment income$1,736$2,747$54$6$1,129$5,672Net realized and unrealized gains (losses)9,270(1,288)(262)372(1,752)6,340Total Investment Return$11,006$1,459$(208)$378$(623)$12,012Average Investments$70,131$27,791$100,024$22,376$59,923$280,245Gross Investment Returns15.7 %5.3 %(0.2)%1.7 %(1.0)%4.3 %

The following table details total investment returns for alternative investments by asset class at December 31, 2023:

December 31, 2023Private EquityPrivate CreditHedge FundsAlternative AssetsVenture CapitalReal EstateTotal ($ in thousands)Gross investment income$2,545$3,380$83$6,114$—$681$12,803Net realized and unrealized gains (losses)7,6911,697—(33)1,914(450)10,819Total Investment Return$10,236$5,077$83$6,081$1,914$231$23,622Average Investments$71,228$52,728$2,688$90,562$21,173$52,407$290,786Gross Investment Returns14.4 %9.6 %3.1 %6.7 %9.0 %0.4 %8.1 %

During the year ended December 31,