Mount Logan Capital Inc (TSE:MLC) has released an update.
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Mount Logan Capital Inc. reported a robust financial performance for both the fourth quarter and the entire fiscal year of 2023, noting an impressive 59% increase in total assets managed to $537 million and a 9.2% yield on its insurance investment portfolio. The company’s asset management revenue hit a record high, bolstered by a significant $250 million reinsurance agreement and the successful closure of the Ovation transaction. Additionally, Mount Logan maintained its shareholder commitment by declaring a quarterly distribution of C$0.02 per share, marking the eighteenth consecutive quarter of distributions.
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