Reinsurance News
Maiden Holdings
Enstar completes Maiden’s ADC reinsurance deal for AmTrust business
6th August 2019
Enstar Group Limited has now completed the adverse development cover (ADC) reinsurance agreement with Maiden Holdings that covers a quota share arrangement between Maiden Re and AmTrust Financial Services. Enstar's Bermuda operating company Cavello Bay Reinsurance Limited has effected the adverse development cover reinsurance transaction with Maiden Reinsurance Ltd. Maiden ... Read the full article
Nasdaq issues delisting warning to Maiden Holdings as challenges hit share price
23rd April 2019
The Nasdaq has issued a statement to Maiden Holdings, Ltd. informing the reinsurer that the bid price of its common stock had closed below the required minimum $1 per share for 30 consecutive days, notifying the firm that is has 180 calendar days to regain compliance with the rule. Specifically, on ... Read the full article
Enstar & Maiden agree to new ADC reinsurance deal for AmTrust business
4th March 2019
Enstar Group Limited and Maiden Holdings have entered into a new adverse development cover (ADC) reinsurance agreement that will replace the previous loss portfolio transfer (LPT) deal relating to Maiden Re’s quota share of AmTrust Financial Services. The arrangement will see an Enstar subsidiary cover Maiden Re’s quota share reinsurance contracts ... Read the full article
Maiden enters reinsurance deal with Allianz amid auto group sale
18th January 2019
Bermuda-based re/insurer Maiden Holdings has entered into a three-year quota share reinsurance agreement with Allianz as part of the sale of its European automotive group, AVS Automotive VersicherungsService GmbH. Maiden said that the sale of AVS and its related European subsidiaries to Allianz Partners represented another step in its strategic review. Allianz ... Read the full article
Maiden to exit AmTrust quota share agreement, returning $700mn
4th January 2019
Maiden Holdings has agreed to a partial termination amendment to its quota share agreement with AmTrust Financial Services, which will see it return approximately $700 million in gross unearned premium. The amendment enables Maiden to exit specific lines of business in the quota share agreement, including Small Commercial Business and U.S ... Read the full article
A.M. Best downgrades Maiden Holdings’ financial strength rating to B++
16th November 2018
A.M. Best has downgraded the financial strength rating of Maiden Reinsurance, Ltd. and Maiden Reinsurance North America, Inc. from to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to bbb from a-, the ratings agency has announced. At the same time, A.M. Best has downgraded the Long-Term ... Read the full article
Enstar and Maiden agree to $2.7bn loss portfolio transfer
12th November 2018
Bermuda-based re/insurance, run-off and legacy transaction specialist Enstar Group Limited has signed an agreement that will see a subsidiary assume loss reserves of approximately $2.675 billion associated with Maiden Re’s quota share reinsurance contracts with AmTrust Financial Services and its subsidiaries. The retrocession will apply to losses arising and/or claims made ... Read the full article
Maiden sells U.S. treaty reinsurance renewal rights to TransRe as it simplifies
30th August 2018
Bermuda-headquartered Maiden Holdings has announced the sale of its U.S treaty reinsurance underwriting business renewal rights to TransRe, in a deal that does not include its AmTrust Business or its International Insurance Services and Capital Solutions businesses in Europe. Concurrently, to ensure a successful transition for customers and brokers, Tom Highet, ... Read the full article
Maiden appoints Lawrence Metz to succeed Art Raschbaum as CEO
10th August 2018
Maiden Holdings Ltd. has appointed Lawrence F. Metz, current Executive Vice President, General Counsel and Secretary at Maiden, as its new President and Chief Executive Officer (CEO), succeeding Art Raschbaum who is retiring in September for personal reasons. Additionally, Maiden named Patrick J. Haveron, current President of Maiden Reinsurance Ltd. (Maiden ... Read the full article
Maiden expands InsurTech initiative with innovation solutions team
23rd March 2018
Maiden Holdings has announced that its Technology Innovation Initiative will benefit from the addition of a new innovation solutions team, which will help customers leverage new re/insurance technologies. The new team, which will be led by Colin Fitt, Maiden’s Senior Vice President of Corporate Development, will support customers as they identify, ... Read the full article
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