Mount Logan Capital Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 07, 2023
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Mount Logan Capital Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net income was USD 15.91 million compared to USD 14.64 million a year ago. Basic earnings per share from continuing operations was USD 0.62 compared to USD 0.66 a year ago. Diluted earnings per share from continuing operations was USD 0.61 compared to USD 0.65 a year ago.
For the nine months, net loss was USD 14.2 million compared to net income of USD 43.65 million a year ago. Basic loss per share from continuing operations was USD 0.61 compared to basic earnings per share from continuing operations of USD 1.97 a year ago. Diluted loss per share from continuing operations was USD 0.61 compared to diluted earnings per share from continuing operations of USD 1.94 a year ago.
Mount Logan Capital Inc. is a Canada-based alternative asset management and insurance solutions company. The Company's segments include asset management and insurance. The Company is focused on public and private debt securities in the North American market and the reinsurance of annuity products primarily through its wholly owned subsidiaries, Mount Logan Management LLC, and Ability Insurance Company. The Company also sources, evaluates, underwrites, manages, monitors, and primarily invests in loans, debt securities, and other credit-oriented instruments that present attractive risk-adjusted returns and present low risk of principal impairment through the credit cycle. The Company's insurance business is operated by Ability Insurance Company.