Related Party Transactions |
3 Months Ended |
|---|---|
Mar. 31, 2025 | |
| Related Party Transactions [Abstract] | |
| Related Party Transactions | Related Party Transactions As part of the Merger, the Company has entered into recurring transactions and agreements with Brookfield Wealth Solutions Ltd., its subsidiaries and affiliates. For the three months ended March 31, 2025, the Company purchased related party investments of $42.0 million. Related party investments as of March 31, 2025 were primarily attributed to $446.1 million of private loans, $283.9 million of other investments and $294.3 million of equity securities. Additionally, the Company has unfunded commitments totaling $102.7 million across all related party investments. Investment transactions with related parties are accounted for in the same manner as those with unrelated parties in the financial statements. Through March 31, 2024, the Company had purchased related party investments totaling $48.4 million, of which $27.3 million were mortgage loans and $21.1 million in other invested asset classes. Additionally, the Company had unfunded commitments totaling $40.7 million across the related party investments. Investment transactions with related parties are accounted for in the same manner as those with unrelated parties in the financial statements. For the three months ended March 31, 2025, the Company incurred investment management fees due to related party arrangements of $3.4 million, which is recognized in Net investment income on our Condensed Consolidated Statements of Income (Loss). As of March 31, 2025, the related party investment management fees payable is $2.6 million which is recognized in Accrued underwriting expenses and other liabilities on our Condensed Consolidated Balance Sheets. For the three months ended March 31, 2024, the Company incurred investment management fees due to related party arrangements of $2.3 million, which is recognized in Net investment income on our Condensed Consolidated Statements of Income (Loss).
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