| Schedule of Variable Interest Entities |
The following summarizes the Condensed Consolidated Statements of Operations activity of the consolidated VIEs: | | | | | | | | | | | | | | | | For the three months ended June 30, | | 2026 | | 2025 | | Investment income | | $ | 3,618 | | | $ | 4,075 | | | Investment expense | | (411) | | | (239) | | | Net investment income | | 3,207 | | | 3,836 | | | Unrealized gain/(loss) on investments | | (1,269) | | | (464) | | | Realized gain/(loss) on investments | | 59 | | | 177 | | | Net realized and change in unrealized gains (losses) from investment activities | | (1,210) | | | (287) | | | Net revenues of consolidated variable interest entities | | $ | 1,997 | | | $ | 3,549 | |
| | | | | | | | | | | | | | | | For the six months ended June 30, | | 2026 | | 2025 | | Investment income | | $ | 7,365 | | | $ | 8,109 | | | Investment expense | | (614) | | | (375) | | | Net investment income | | 6,751 | | | 7,734 | | | Unrealized gain/(loss) on investments | | (4,240) | | | (789) | | | Realized gain/(loss) on investments | | (647) | | | 237 | | | Net realized and change in unrealized gains (losses) from investment activities | | (4,887) | | | (552) | | | Net revenues of consolidated variable interest entities | | $ | 1,864 | | | $ | 7,182 | |
The Company has exposure beyond the carrying value of its variable interests due to unfunded commitments on loans. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2026 | | December 31, 2025 | | | Carrying amount | | Maximum exposure to loss | | Carrying amount | | Maximum Exposure to Loss | | Asset Management | | | | | | | | | | | | | | | | | | | Variable interests in related parties | | $ | 27,258 | | | $ | 28,672 | | | $ | 28,209 | | | $ | 29,622 | | | Total Asset Management | | $ | 27,258 | | | $ | 28,672 | | | $ | 28,209 | | | $ | 29,622 | | | | | | | | | | | | Insurance Solutions | | | | | | | | | | Variable interests | | $ | 15,419 | | | $ | 15,419 | | | $ | 17,097 | | | $ | 17,097 | | | Variable interests in related parties | | 13,697 | | | 13,697 | | | 15,355 | | | 15,355 | | | Total Insurance Solutions | | $ | 29,116 | | | $ | 29,116 | | | $ | 32,452 | | | $ | 32,452 | | | | | | | | | | | | Total | | $ | 56,374 | | | $ | 57,788 | | | $ | 60,661 | | | $ | 62,074 | |
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