Mount Logan Capital Inc.
For the period ended Jun 30, 2026. Filed Aug 11, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2026 · Filed Aug 11, 2026
MLCI$3.55-1.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
| Three months ended June 30, | Six months ended June 30, | |||
|---|---|---|---|---|
| (in thousands, except per share data) | 2026 | 2025 | 2026 | 2025 |
| REVENUES | ||||
| Asset Management | ||||
| Management fees | $1,691 | $2,809 | $3,330 | $6,049 |
| Incentive fees | 419 | 478 | 813 | 777 |
| Advisory and transaction fees, net | — | — | 66 | — |
| Equity investment earning | 153 | 42 | 515 | 324 |
| 2,263 | 3,329 | 4,724 | 7,150 | |
| Insurance Solutions | ||||
| Net premiums | (4,474) | (4,238) | (8,718) | (8,251) |
| Product charges | 168 | 722 | 286 | 1,582 |
| Net investment income | 15,269 | 16,678 | 31,945 | 31,629 |
| Net realized and change in unrealized gains (losses) from investment activities | 484 | 3,838 | (4,530) | 5,310 |
| Net revenues of consolidated variable interest entities | 1,997 | 3,549 | 1,864 | 7,182 |
| Net investment income (loss) on funds withheld | (6,935) | (6,826) | (6,321) | (12,576) |
| Other income | (25) | 78 | 144 | 154 |
| 6,484 | 13,801 | 14,670 | 25,030 | |
| Total revenues | 8,747 | 17,130 | 19,394 | 32,180 |
| EXPENSES | ||||
| Asset Management | ||||
| Administration and servicing fees | 3,305 | 1,812 | 6,944 | 3,049 |
| Transaction costs | (48) | 2,753 | 34 | 7,298 |
| Compensation and benefits | 215 | 1,836 | 426 | 4,216 |
| Amortization and impairment of intangible assets | 674 | 1,889 | 1,118 | 2,799 |
| Interest and other credit facility expenses | 2,172 | 1,960 | 4,177 | 3,906 |
| General, administrative and other | 1,865 | 1,258 | 4,873 | 2,981 |
| 8,183 | 11,508 | 17,572 | 24,249 | |
| Insurance Solutions | ||||
| Net policy benefit and claims (remeasurement gain on policy liabilities of $6,064 and $10,523 and $2,945 and $3,025 for the three and six months ended June 30, 2026 and 2025, respectively) | (4,281) | (1,064) | (6,916) | 729 |
| Interest sensitive contract benefits | 4,179 | 3,997 | 8,468 | 7,815 |
| Amortization of deferred acquisition costs | 703 | 905 | 1,411 | 1,460 |
| Compensation and benefits | — | 223 | — | 467 |
| Interest expense | 318 | 407 | 718 | 735 |
| General, administrative and other (including related party amounts of $1,680 and $3,352 and $1,753 and $3,485 for the three and six months ended June 30, 2026 and 2025, respectively) | 3,633 | 3,270 | 7,894 | 6,956 |
| 4,552 | 7,738 | 11,575 | 18,162 | |
| Total expenses | 12,735 | 19,246 | 29,147 | 42,411 |
| Investment and other income (loss) - Asset Management | ||||
| Net realized and change in unrealized gains (losses) from investment activities | (967) | 867 | (1,318) | 1,708 |
| Dividend income | 5 | 29 | 65 | 67 |
| Interest income | 301 | 271 | 685 | 539 |
| Other income (loss), net | 472 | 6 | 646 | 305 |
| Loss on extinguishment of debt | — | — | (472) | — |
| Total investment and other income (loss) | (189) | 1,173 | (394) | 2,619 |
| Income (loss) before taxes | (4,177) | (943) | (10,147) | (7,612) |
| Income tax (expense) benefit — Asset Management | — | 9 | — | (27) |
| Net income (loss) | $(4,177) | $(934) | $(10,147) | $(7,639) |
| Earnings per share | ||||
| Net income (loss) attributable to common shareholders - Basic and Diluted | $(0.37) | $(0.14) | $(0.88) | $(1.14) |
| Weighted average shares outstanding – Basic and Diluted | 11,188,768 | 6,789,843 | 11,490,663 | 6,683,097 |
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