7 unchanged sentences
The objective of our investment activities is to maintain principal and the majority of our investments are short-term in nature.
+Added: Changes in interest rates have a direct impact on the market valuation of our fixed maturity investment securities.
+Added: Certain securities are held in an unrealized loss position, but we do not intend to sell and believe we will not be required to sell any of these securities before their anticipated recovery.
+Added: We manage interest rate risk by investing in securities with relatively short durations.
+Added: A hypothetical 100 basis point interest rate increase would not have a material effect on the fair value of our investments.
For additional information regarding our investments, refer to Note 5, Investments, included in Item 8 of this report.
−Removed: Additionally, we are exposed to interest rate risk as a result of our debt and our investment activities.
−Removed: Our Credit Facility bears interest at a floating base rate plus an applicable margin.
+Added: Additionally, we are exposed to interest rate risk as a result of our debt.
+Added: Our PNC Facility bears interest at a floating base rate plus an applicable margin.
As of December 31, 2025, our aggregate outstanding indebtedness was $111.8 million.
A hypothetical 100 basis point interest rate increase would increase our annual interest expense by $1.1 million.
−Removed: Our fixed maturities portfolio is also exposed to interest rate risk.
−Removed: Changes in interest rates have a direct impact on the market valuation of these securities.
−Removed: Certain securities are held in an unrealized loss position, but we do not intend to sell and believe we will not be required to sell any of these securities held in an unrealized loss position before their anticipated recovery.
−Removed: We manage interest rate risk by investing in securities with relatively short durations.
−Removed: A hypothetical 100 basis point interest rate increase would not have a material effect on the fair value of our investments.
Foreign Currency Exchange Risk
2 unchanged sentences
A 10% change in the Canadian currency exchange rate could have a material impact on our consolidated financial condition or results of operations.
−Removed: A hypothetical change of this magnitude would have increased or decreased our total revenues by approximately $20.7 million, total expenses by approximately $19.3 million, and have a net impact of $1.4 million on income or loss for the year ended December 31, 2024.
+Added: A hypothetical change of this magnitude would have increased or decreased our total revenues by approximately $23.3 million, total expenses by approximately $22.3 million, and would have had a net impact of $1.0 million on income for the year ended December 31, 2025.
To date, we have not entered into any material foreign currency hedging contracts although we may do so in the future.
−Removed: Other foreign currency risk in European currencies is currently immaterial.
+Added: Currently, our European foreign currency risk is immaterial.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.