Mount Logan Capital Q3 net loss narrows 72% year-over-year to $3.73 million
MLCI•Mount Logan Capital’s third-quarter net loss narrowed 72% year-over-year to $3.73 million. Segment Income fell 24% to $3.18 million, while fee-related earnings dropped 82% to $472,000 and spread-related earnings rose 81% to $2.71 million.
1. Third-quarter results
Mount Logan Capital reported a third-quarter net loss of $3.73 million, down 72% year-over-year. Non-GAAP Segment Income fell 24% to $3.18 million, while nine-month Segment Income rose 21% to $11.52 million.
2. Earnings and business updates
Third-quarter non-GAAP fee-related earnings dropped 82% year-over-year to $472,000, while non-GAAP spread-related earnings climbed 81% to $2.71 million. Ability Insurance received a B+ financial strength rating from AM Best and launched multi-year guaranteed annuity products under the ReliAbility brand. After quarter-end, Mount Logan Management signed an agreement to become investment adviser to the roughly $230 million AFA Asset Based Lending Fund.
