Reinsurance News
Maiden Holdings
Maiden Holdings reports sharp rise in net income, despite $35.5mn underwriting loss
16th March 2023
Maiden Holdings Ltd., has reported a net income of $36.2 million for the fourth quarter of 2022 compared to net income of $16.2 million from the fourth quarter of 2021. The firm’s reported net income for Q4 is also a huge improvement from its $8.2 million net loss from Q322. At ... Read the full article
Maiden sees $12.6m underwriting loss in Q3
9th November 2022
Maiden Holdings Ltd has reported a net loss of $8.2 million for the third quarter of 2022 compared to a net income of $2.9 million from the prior year quarter. Non-GAAP operating loss was $21.1 million for the quarter, compared to a Non-GAAP operating loss of $3.1 million from the same ... Read the full article
Maiden’s GLS in reinsurance deal for Mary Free Bed rehabilitation hospital
8th April 2022
Genesis Legacy Solutions (GLS), part of Maiden Holdings, Ltd. has agreed to provide a medical expense reimbursement cover for the Washington, D.C cell of the Michigan based Mary Free Bed rehabilitation hospital (MFB). This transaction will help to accomplish MFB’s goal of expanding its managed care services on behalf of workers ... Read the full article
Maiden share repurchases offset results downturn
16th March 2022
Bermuda-based Maiden Holdings has reported improved net income of $117.6 million for 2021, despite seeing a significant fall in income over the fourth quarter. Full-year income was up from $80.0 million in 2020, even as Q4 income decreased to $16.2 million, down from $47.7 million for the same period in the ... Read the full article
Maiden’s Genesis well positioned after completing ADC for AMS RRG
4th February 2022
Genesis Legacy Solutions (GLS), part of Maiden Holdings, has agreed to provide an adverse development cover (ADC) to Arizona-based Applied Medico-Legal Solutions Risk Retention Group (AMS RRG). This ADC transaction helped accomplish AMS RRG’s goal to achieve an upgraded financial rating by AM Best and enhances AMS RRG's capital position which ... Read the full article
Genesis Legacy Solutions makes first Loss Portfolio Transfer
12th November 2021
Genesis Legacy Solutions (GLS), part of the Maiden Holdings has issued its first Loss Portfolio Transfer Agreement through its Vermont cell to an affiliate of Cypress Property & Casualty Insurance Company. This agreement reinsures Cypress’ commercial general liability portfolio written in Florida and Texas from 2008 through 2020. Stonybrook Risk Management advised ... Read the full article
Maiden falls to $3.1mn Q3 net loss
10th November 2021
Maiden Holdings has reported a third quarter net loss of $3.1 million, down from a $2.2 million income in the prior year quarter. The company’s net income attributable to common shareholders was boosted by a $6 million gain from a repurchase of preference shares. A Q3 underwriting loss of $3.6 million compares ... Read the full article
Maiden grows Q2 income to $26.8mn
11th August 2021
Bermuda-based Maiden Holdings has reported net income of $26.8 million for the second quarter of 2021, up from $9.2 million for the same period last year. This was partly due to a return to underwriting profitability, as the company moved from an underwriting loss of $17.0 million in Q2 2020 to ... Read the full article
$62.5mn share buyback bolsters Maiden’s Q1 income
11th May 2021
Maiden Holdings has reported a first quarter net income attributable to shareholders of $71.7 million, boosted by a $62.5 million gain from the repurchase of preference shares. Underwriting income for the quarter was $1.6 million compared to a loss of $3.7 million in the same period in 2020. This underwriting income improvement ... Read the full article
Maiden Holdings returns to underwriting profitability in 2020
16th March 2021
A return to underwriting profitability and a favourable result from continuing operations helped Maiden Holdings, Ltd. produce net income of $47.7 million and $80 million for the fourth-quarter and full-year 2020, respectively. For the quarter, net income improved significantly from the $21.5 million net loss reported for the same period in ... Read the full article
Maiden Holdings provides $3.25mn of seed capital to USQRisk
16th December 2020
Bermuda-based Maiden Holdings has provided $3.25 million of seed capital in order to help accelerate the expansion of risk transfer managing general agent USQRisk. As part of its investment deal, USQRisk has added Maiden co-Chief Executive Officers Lawrence Metz and Patrick Haveron to its board of directors. The funding provided by Maiden will ... Read the full article
Maiden sets up Genesis Legacy Solutions unit
4th December 2020
Bermuda-based re/insurer Maiden Holdings has announced the formation of a new legacy solutions unit that will specialise in providing services to small US insurance entities. Genesis Legacy Solutions (GLS) will focus in particular on clients in run-off or with blocks of reserves that are no longer core. The Genesis team will be ... Read the full article
Maiden posts $21.5mn Q4 loss, wraps up Vermont re-domestication
19th March 2020
Bermuda-based re/insurer Maiden Holdings has reported a fourth quarter net loss of $21.5 million, reflecting the run-off of its previously-terminated AmTrust reinsurance contracts and a tempering of the adverse prior year loss development experienced in recent years. The company has also closed its re-domestication to Vermont, following a mandatory 14-day publication ... Read the full article
Maiden posts $58.3m Q3 net loss
13th November 2019
Maiden Holdings has reported a $58.3 million net loss for the third quarter, an improvement from the $308.8 million hit in the prior year quarter. Maiden says this improvement was driven in part by a reduced underwriting loss from lower adverse prior year loss development incurred, primarily within AmTrust Reinsurance segment, ... Read the full article
Maiden Re looks to re-domesticate to Vermont
17th October 2019
In an effort to create a more efficient structure, the principal operating subsidiary of Maiden Holdings, Ltd., Maiden Reinsurance Ltd. (Maiden Bermuda), has submitted all the required filings to re-domesticate from Bermuda to the State of Vermont in the U.S. Currently, Maiden is looking to complete the re-domestication process on or ... Read the full article
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