Yukon New Parent, Inc., now known as Mount Logan Capital Inc., reported a net loss of $60.8 million for the fiscal year ending December 31, 2025, compared to a net loss of $10.4 million in the previous fiscal year. Total revenues increased to $53.6 million from $49.8 million in 2024. The company completed a business combination on September 12, 2025, with Mount Logan Capital Inc. and 180 Degree Capital Corp., accounted for as a reverse acquisition, with Legacy Mount Logan identified as the accounting acquirer. Following the combination, the company changed its name and became a Nasdaq-traded public entity.
The Asset Management segment experienced a decrease in revenues to $13.0 million in 2025 from $15.0 million in 2024, primarily due to lower management and incentive fees. Expenses for the segment increased significantly to $61.6 million from $33.5 million, driven by transaction costs related to the merger and amortization and impairment of intangible assets. The Insurance Solutions segment saw an increase in revenues to $40.6 million from $34.8 million, driven by net gains from investment activities and product charges. However, expenses also increased to $59.0 million from $26.0 million, mainly due to higher net policy benefit and claims, interest-sensitive contract benefits, and a goodwill impairment charge of $25.5 million.
Key operational developments include the management of over $2.1 billion in Assets Under Management (AUM) as of December 31, 2025, with $1.5 billion in permanent or semi-permanent capital. The company operates primarily in the United States through its Asset Management and Insurance Solutions segments. The Asset Management segment focuses on private credit across various strategies, while the Insurance Solutions segment specializes in reinsuring annuity products. Ability Insurance Company, a subsidiary within the Insurance Solutions segment, is licensed in 42 states and the District of Columbia.
Looking ahead, Mount Logan aims to expand its private credit AUM, increase reinsurance flows within Ability, and pursue strategic acquisitions and partnerships. The company intends to leverage its Nasdaq listing to improve access to capital markets and enhance financing flexibility. Management believes that the integration of asset management and insurance solutions will drive growth and shareholder value through a capital flywheel effect, reinvesting cash flow from asset management into Ability to support new reinsurance treaties and expand liabilities.
About Yukon New Parent, Inc.
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