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Reinsurance News
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
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
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
28th December 2018
Bermuda based re/insurance, run-off and legacy transaction specialist Enstar Group Limited has announced that it has completed its acquisition of Maiden Re North America from a subsidiary of Maiden Holdings. The net consideration paid in the transactions was $272.4 million, which represents the adjusted purchase price less the ceding commission. Domiciled in ... Read the full article
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
5th September 2018
As part of its $307.5 million acquisition of Maiden Re North America, which was announced last week, Enstar Group Limited will enter into a reinsurance agreement with Maiden Re via Enstar’s subsidiary, Cavello Bay Reinsurance Limited. The transaction will see Cavello and Maiden Re enter into a novation agreement and ... Read the full article
31st August 2018
Bermuda based insurance, reinsurance, run-off and legacy transaction specialist Enstar Group Limited has announced that it has entered into an agreement to acquire Maiden Re North America from a subsidiary of Maiden Holdings for a total consideration of $307.5 million. Domiciled in Missouri, Maiden Re North America is a diversified insurance ... Read the full article
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
6th March 2018
A.M. Best has downgraded the Long-Term Issuer Credit Rating (Long-Term ICR) of Maiden Holdings and its downstream, intermediate holding company, Maiden Holdings North America from bbb to bbb-. The firm's associated Long-Term Issue Credit Ratings (Long-Term IRs) received the same rating downgrade. In addition, A.M. Best has downgraded the Financial Strength Rating to A- from ... Read the full article
7th September 2017
Reinsurer Maiden Re has announced an investment in InsurTech drone start-up, Betterview, which has now closed a $2.05 million Series Seed round. The latest capital raise takes Betterview's total funding to $3.65 million, and was led by Compound Venture Capital, and included investments from Maiden Re, 645 Ventures, Arab Angel, Winklevoss ... Read the full article
