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Related party transactions | 3 Months Ended
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Mar. 31, 2025
Related Party Transactions [Abstract] |
Related party transactions | 16. Related party transactions In addition to the transactions disclosed in Notes 9, 14 and 17 to these consolidated financial statements, the following transactions are classified as related party transactions, as the counterparties have either a direct or indirect shareholding in the Company or the Company has an investment in such counterparty. (Re)insurance contracts During the three months ended March 31, 2025, i nsurance and reinsurance contracts with certain of the Company’s insurance and MGA related parties resulted in gross premiums written of $6.5 million (2024 - $17.0 million). As of March 31, 2025, the Company had total receivables from these related parties of $152.0 million and no payables (December 31, 2024 - receivables of $127.2 million and no payables). Investments managed by related parties The following table provides the fair value of the Company's investments managed by related parties as of March 31, 2025 and December 31, 2024:
| March 31, 2025 |  | December 31, 2024
Third Point Enhanced LP (1) (2) | $ | 83.8 |  |  | $ | 87.6 |
Third Point Venture Offshore Fund I LP (2) | 26.4 |  |  | 24.0 |
Third Point Venture Offshore Fund II LP (2) | 6.3 |  |  | 4.9 |
Third Point Optimized Credit Portfolio (3) | 618.7 |  |  | 595.8 |
Total investments managed by related parties | $ | 735.2 |  |  | $ | 712.3 |
(1)On February 28, 2025, the Company provided notice to Third Point LLC of its intent to redeem all of its capital accounts for Third Point Enhanced LP as of March 31, 2026. (2)The Third Point Enhanced LP, Third Point venture Offshore Fund I LP, and Third Point Venture Offshore Fund II LP are reported in Other long-term investments in the consolidated balance sheets. (3)The Third Point Optimized Credit Portfolio is reported in Debt securities, available for sale and trading, in the consolidated balance sheets. Management, advisory and performance fees to related parties The total management, advisory and performance fees to related parties for the three months ended March 31, 2025 and 2024 were as follows:
| 2025 |  | 2024 |  |  |  |
Management and advisory fees | $ | 1.1 |  |  | $ | 1.7 |  |  |  |  |
Performance fees | (0.2) |  |  | 0.4 |  |  |  |  |
Total management, advisory and performance fees to related parties (1) | $ | 0.9 |  |  | $ | 2.1 |  |  |  |  |
(1)Management, advisory and performance fees to related parties, where applicable, are presented within Net realized and unrealized investment gains in the consolidated statements of income.

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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480990/946-20-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480990/946-20-50-5 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480990/946-20-50-6 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 235 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477968/946-235-50-2 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 235 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477968/946-235-50-2 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 850 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483326/850-10-50-1 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-07(2)(g)(3)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-07(2)(c)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-07(2)(e)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 850 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/850/tableOfContent Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 850 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483326/850-10-50-6 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 850 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483326/850-10-50-1 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 850 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483326/850-10-50-1 + Details
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