| Schedule of Net Realized and Change in Unrealized Gains (Losses) From Investment |
The table below summarizes the net realized and change in unrealized gains (losses) from investment activities: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | For the three months ended June 30, | | 2026 | | 2025 | | | Net realized gains (losses) | | Net unrealized gains (losses) | | Credit releases (losses) | | Total | | Net realized gains (losses) | | Net unrealized gains (losses) | | Credit releases (losses) | | Total | | Asset Management | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Equity securities | | $ | — | | | $ | (1,072) | | | $ | — | | | $ | (1,072) | | | $ | 22 | | | $ | 474 | | | $ | — | | | $ | 496 | | | | | | | | | | | | | | | | | | | Other invested assets1 | | — | | | 105 | | | — | | | 105 | | | — | | | — | | | — | | | — | | | Debt obligation | | — | | | — | | | — | | | — | | | — | | | 371 | | | — | | | 371 | | | Net realized and change in unrealized gains (losses) from investment activities — Asset Management | | $ | — | | | $ | (967) | | | $ | — | | | $ | (967) | | | $ | 22 | | | $ | 845 | | | $ | — | | | $ | 867 | | | | | | | | | | | | | | | | | | | | Insurance Solutions | | | | | | | | | | | | | | | | | | Debt securities: | | | | | | | | | | | | | | | | | | U.S. state, territories and municipalities | | $ | — | | | $ | (2) | | | $ | — | | | $ | (2) | | | $ | — | | | $ | 5 | | | $ | — | | | $ | 5 | | | Other government and agency | | — | | | 65 | | | — | | | 65 | | | — | | | (1) | | | — | | | (1) | | | Corporate | | (395) | | | 1,991 | | | — | | | 1,596 | | | (1,057) | | | 1,049 | | | — | | | (8) | | | Asset and mortgage- backed securities | | 1 | | | 1,042 | | | — | | | 1,043 | | | (94) | | | (299) | | | — | | | (393) | | | Corporate loans | | 5 | | | (598) | | | — | | | (593) | | | (2) | | | 637 | | | — | | | 635 | | | Mortgage loans | | — | | | — | | | (1,432) | | | (1,432) | | | — | | | — | | | (296) | | | (296) | | | Equity securities | | — | | | (79) | | | — | | | (79) | | | — | | | 8 | | | — | | | 8 | | | Other invested assets | | — | | | (142) | | | 28 | | | (114) | | | (755) | | | 4,607 | | | 36 | | | 3,888 | | | Net realized and change in unrealized gains (losses) from investment activities — Insurance Solutions | | $ | (389) | | | $ | 2,277 | | | $ | (1,404) | | | $ | 484 | | | $ | (1,908) | | | $ | 6,006 | | | $ | (260) | | | $ | 3,838 | | | Investments of consolidated VIEs | | 59 | | | (1,269) | | | — | | | (1,210) | | | 177 | | | (464) | | | — | | | (287) | | | Net realized and change in unrealized gains (losses) from investment activities — Insurance Solutions including consolidated VIEs | | $ | (330) | | | $ | 1,008 | | | $ | (1,404) | | | $ | (726) | | | $ | (1,731) | | | $ | 5,542 | | | $ | (260) | | | $ | 3,551 | |
_______________(1) Includes $0.1 million of unrealized gains on purchase receivables that are presented in other assets on the condensed consolidated statements of financial position. Refer to Note 17. Other assets and Accrued expenses and other liabilities for further detail. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | For the six months ended June 30, | | 2026 | | 2025 | | | Net realized gains (losses) | | Net unrealized gains (losses) | | Credit releases (losses) | | Total | | Net realized gains (losses) | | Net unrealized gains (losses) | | Credit releases (losses) | | Total | | Asset Management | | | | | | | | | | | | | | | | | | Corporate loan | | $ | — | | | $ | — | | | $ | 5 | | | $ | 5 | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | Equity securities | | 367 | | | (1,791) | | | — | | | (1,424) | | | 81 | | | 288 | | | — | | | 369 | | | Derivatives | | — | | | (2) | | | — | | | (2) | | | — | | | — | | | — | | | — | | Other invested assets1 | | — | | | 103 | | | — | | | 103 | | | — | | | — | | | — | | | — | | | Debt obligations | | — | | | — | | | — | | | — | | | — | | | 1,339 | | | — | | | 1,339 | | | Net realized and change in unrealized gains (losses) from investment activities — Asset Management | | $ | 367 | | | $ | (1,690) | | | $ | 5 | | | $ | (1,318) | | | $ | 81 | | | $ | 1,627 | | | $ | — | | | $ | 1,708 | | | | | | | | | | | | | | | | | | | | Insurance Solutions | | | | | | | | | | | | | | | | | | Debt securities: | | | | | | | | | | | | | | | | | | U.S. state, territories and municipalities | | $ | (5) | | | $ | (17) | | | $ | — | | | $ | (22) | | | $ | (4) | | | $ | 62 | | | $ | — | | | $ | 58 | | | Other government and agency | | — | | | 37 | | | — | | | 37 | | | — | | | (2) | | | — | | | (2) | | | Corporate | | (363) | | | (413) | | | — | | | (776) | | | (1,068) | | | 2,236 | | | — | | | 1,168 | | | Asset and mortgage- backed securities | | (209) | | | (1,137) | | | — | | | (1,346) | | | (252) | | | (184) | | | — | | | (436) | | | Corporate loans | | 5 | | | (998) | | | — | | | (993) | | | — | | | 1,426 | | | — | | | 1,426 | | | Mortgage loans | | (4,621) | | | — | | | 2,972 | | | (1,649) | | | — | | | — | | | (284) | | | (284) | | | Equity securities | | 3,597 | | | (3,384) | | | — | | | 213 | | | (246) | | | 98 | | | — | | | (148) | | | Other invested assets | | — | | | (153) | | | 159 | | | 6 | | | (755) | | | 4,217 | | | 66 | | | 3,528 | | | Net realized and change in unrealized gains (losses) from investment activities — Insurance Solutions | | $ | (1,596) | | | $ | (6,065) | | | $ | 3,131 | | | $ | (4,530) | | | $ | (2,325) | | | $ | 7,853 | | | $ | (218) | | | $ | 5,310 | | | Investments of consolidated VIEs | | (647) | | | (4,240) | | | — | | | (4,887) | | | 237 | | | (789) | | | — | | | (552) | | | Net realized and change in unrealized gains (losses) from investment activities — Insurance Solutions including consolidated VIEs | | $ | (2,243) | | | $ | (10,305) | | | $ | 3,131 | | | $ | (9,417) | | | $ | (2,088) | | | $ | 7,064 | | | $ | (218) | | | $ | 4,758 | |
_______________ (1) Includes $0.1 million of unrealized gains on purchase receivables that are presented in other assets on the condensed consolidated statements of financial position. Refer to Note 17. Other assets and Accrued expenses and other liabilities for further detail. The following table outlines the carrying value of the Company’s investments: | | | | | | | | | | | | | | | | As of | | June 30, 2026 | | December 31, 2025 | | Asset Management | | | | | | Corporate loans | | $ | 13,291 | | | $ | 13,287 | | | Equity securities | | 6,857 | | | 10,409 | | | Equity method | | 4,270 | | | 5,517 | | | Derivatives | | — | | | 13 | | | Other invested assets | | 71 | | | 72 | | | Total investments - Asset Management | | $ | 24,489 | | | $ | 29,298 | | | | | | | | Insurance Solutions | | | | | | Debt securities | | $ | 608,304 | | | $ | 632,038 | | | Corporate loans | | 126,175 | | | 124,067 | | | Mortgage loans | | 183,676 | | | 162,566 | | | Equity securities | | 4,465 | | | 15,053 | | | Other invested assets | | 30,463 | | | 23,084 | | | Total investments - Insurance Solutions | | $ | 953,083 | | | $ | 956,808 | | | Corporate loans of consolidated VIEs | | 129,606 | | | 119,731 | | | Equity securities of consolidated VIEs | | 1,116 | | | 949 | | | Total investments - Insurance Solutions, including consolidated VIEs | | 1,083,805 | | | 1,077,488 | | | Total investments | | $ | 1,108,294 | | | $ | 1,106,786 | |
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