Toronto, March 1, 2022 (GLOBE NEWSWIRE) — Mount Logan Capital Inc. (NEO: MLC) (“Mount Logan”, “our”, “we”, or “Company”) is its wholly owned subsidiary, Ability. Was announced. The insurance company (“Ability”) reports to the US state insurance department in which the Ability operates an annual report on the status and operations of the Ability for the year ended December 31, 2021 (“Annual Report”). Book “) has been submitted. “). The annual report can be found on the website of certain insurance regulators and on our website (www.mountlogancapital.ca).
The annual report consists of statutory financial information prepared in accordance with statutory accounting practices prescribed or authorized by the Nebraska Insurance Department. The National Association of Insurance Commissioners (“NAIC”) has adopted a codification of statutory accounting principles. It aims to standardize regulatory accounting and reporting to the state insurance sector and came into effect on January 1, 2001. Individual state laws and permitted practices. NAIC is an association of Supreme Insurance Inspectors in each state, territory, or property of the United States, providing expertise, data, and analysis for insurers to effectively regulate the industry and protect consumers. To do. Legal accounting principles are designed to assist the state’s insurance sector in regulating the solvency of insurers, with the ultimate goal of policyholders, policyholders, and other legal obligations due. It is to ensure that the company maintains capital and surplus. The time and format required by law to provide a safety margin. Because the focus of statutory accounting principles is solvency regulation, annual financial statements cannot be directly compared to financial statements prepared in accordance with International Financial Reporting Standards (“IFRS”). Its purpose is to provide a set of accounting rules for establishing treasury. Accounting and reporting standards in the preparation of financial statements to serve as useful information for investors and other users of financial reporting. Therefore, certain financial indicators in the annual financial statements are indicators that are not recognized by IFRS and do not have the standardized meaning specified in IFRS and are similar indicators presented by our financial statements or other companies. Please note that it may not be possible to compare with. Readers should also note that the annual report may not be suitable for any purpose, including investment decisions, and should not place undue reliance on the annual report.
Ability is a Nebraska-based insurance company and a long-term care insurance reinsurance company acquired by Mount Logan in the fourth quarter of 2021. Ability is unique in the insurance industry in that the risk of morbidity in the long-term care portfolio is significantly reinsured. Third parties, and abilities, do not guarantee or reinsurance new long-term care risks.
About Mount Logan Capital Ink.
Mount Logan Capital Inc. is an alternative asset management and insurance solutions company focused on reinsurance of public and private debt securities and annuity products in the North American market. We proactively source, value, underwrite, manage and monitor loans, debt securities and other credit-oriented products with attractive risk-adjusted returns and low risk of loss of principal throughout the credit cycle. , Mainly investing.
This press release is not a prospectus or advertisement and should not be construed under any circumstances, and the transmission of this release is an offer to sell or purchase securities of the Company or the Fund or other means of investment.
For more information, please contact:
Mount Logan Capital Ink.
365 Bay Street, Suite 800
Toronto, Ontario M5H2V1
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Mount Logan Capital Inc. Submits Annual Capability Insurance Company Statement to U.S. Insurance Regulator, Canadian Business Journal
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