Fourth Quarter Highlights (all comparisons are to third quarter 2023):
- Net book value per preferred share increased by $476.48, or 25.3% to $2,357.42 from $1,880.94 at September 30, 2023;
- Ascendant Re net income of $6,664,232;
- Ascendant Re total assets increased by $6,133,198 to $95,107,263 total assets at December 31, 2023.
Full Year 2023 Highlights:
- Preferred Share net book value increased by $883.98, or 60.00% to $2,357.42 from $1,473.44 at December 31, 2022;
- Ascendant Re net income of $12,662,061 for the year ended December 31, 2023;
- Total assets increased by $18,567,823 from $76,539.440 at December 31, 2022 to $95,107,263 at December 31, 2023.
I am extremely pleased with our results this year which marks our fourth year of operations. Since we launched, we have maintained our core strategy of traditional annuity reinsurance with a surplus digital asset investment strategy.
We have achieved a 32.54% IRR since inception, highlighting the strength of our strategy and management team.
We have always been a technology focused company and it has served us well. We are excited about our opportunity to continue to execute in this dynamic environment, in both digital assets and reinsurance.
2024 is off to a strong start and I look forward to the results it may bring.
Erik Fell