Mount Logan Capital Inc. reports strong financial results for 2024, increasing revenue and net investment income.
From GlobeNewswire: 2025-03-13 19:06:38
Mount Logan Capital Inc. announced financial results for 2024, including $15.3 million in insurance segment Spread Related Earnings and $7.5 million in Fee Related Earnings in the asset management segment. An amendment to the corporate credit facility was completed, and a definitive agreement was made to combine with 180 Degree Capital Corp. Mount Logan also completed a minority investment in Runway Growth Capital LLC. The company reported total revenue of $4.4 million for the asset management segment in the fourth quarter of 2024, an increase of 19% from the previous year. Total net investment income for the insurance segment was $23.8 million for the same period, a 23% increase over the prior year. The company achieved an 8.5% yield on the insurance investment portfolio for 2024.
The company also declared a shareholder distribution of C$0.02 per common share for the quarter ended December 31, 2024. Mount Logan entered into a definitive agreement to combine with 180 Degree Capital Corp. and completed a minority investment in Runway Growth Capital LLC. Portman Ridge Finance Corporation and Logan Ridge Finance Corporation announced a merger. Total revenue for the asset management segment was $15.7 million for 2024, an increase of $3.9 million from the previous year. The insurance segment saw total revenue of $64.2 million for the same period.
Mount Logan Capital Inc. held a conference call to discuss the financial results, and it was announced that the company’s shares are not registered under the U.S. Securities Act and will not be registered under the U.S. Investment Company Act. The company’s total assets were $1.69 billion as of December 31, 2024, with total equity of $57.2 million. Net income for 2024 was $5.6 million. The company’s earnings per share for the year were $0.22.
Read more at GlobeNewswire: Mount Logan Capital Inc. Announces Fourth Quarter and