Maiden

Maiden offloads renewal rights for international primary business to AmTrust

Maiden Holdings has entered into a renewal rights transaction with AmTrust to cover the majority of its primary business written through subsidiaries in Sweden, Norway and other Nordic countries as a part of a wider plan to divest its International Insurance Services (IIS) businesses.

Haveron named sole CEO as Maiden seeks profile “building for the long term”

Maiden Holdings’ board has named Patrick Haveron as sole CEO with former co-CEO Lawrence Metz appointed executive vice chairman while remaining as group president.

Legacy start-up GLS eyes further LPTs and ADCs in fast-growing US run-off market

Genesis Legacy Solutions, a wholly owned subsidiary of Maiden Holdings, anticipates getting several more loss portfolio transfers and small acquisitions under its belt in 2022 while also continuing to provide adverse development covers as the nascent legacy specialist looks to take advantage of changing run-off attitudes in the US.

Maiden’s GLS reveals reinsurance deal for Mary Free Bed Rehabilitation Hospital

Maiden Holdings’ Genesis Legacy Solutions (GLS) has written a medical expense reimbursement cover for the Washington, DC cell of Mary Free Bed Rehabilitation Hospital (MFB).

Maiden posts Q4 operating profit and eyes legacy opportunities in 2022

Maiden Holdings has posted non-GAAP operating earnings of $2.3mn for the fourth quarter of 2021, compared with an operating gain of $45mn in the prior-year quarter.

MPL specialist AMS secures ADC from Maiden’s Genesis

Maiden Holdings’ Genesis Legacy Solutions (GLS) unit has written an adverse development cover (ADC) for medical professional liability (MPL)-focused Applied Medico-Legal Solutions Risk Retention Group (AMS) in a deal that was brokered by BMS Re.

Maiden’s Genesis unit closed first LPT in Q3

Maiden Holdings, which is running off its (re)insurance liabilities, has reported a slightly larger operating loss for the third quarter and revealed that its Genesis Legacy Solutions unit has completed its first transaction.

Maiden posts Q2 operating profit as reserve releases push UW income

Maiden Holdings posted a sixth successive quarter of operating profitability in Q2 2021 as the Bermudian company benefited from favourable prior year loss development that fuelled a swing to underwriting profit in the period.

Maiden Q1 operating profit grows to $47.3mn on share repurchase gain

Maiden Holdings has announced a strong increase in operating earnings in the first quarter to $47.3mn from $3.1mn in the prior year period, which primarily reflects the gain from preference share repurchases.

Maiden swings to Q4 operating earnings of $45mn

Maiden Holdings has reported operating earnings of $45.0mn, or $0.53 per diluted common share, for the fourth quarter of 2020, compared with an operating loss of $3.5mn, or $0.04 per diluted common share, for the same period in 2019.

Maiden adds US-focused legacy unit GLS

Maiden Holdings has announced the addition of a US-focused legacy team comprising former SOBC Darag employees.

Maiden ends Q3 with operating loss; unveils share repurchase programme

Maiden Holdings has reported a third quarter operating loss of $0.03 per share while the company has also announced a new $100mn share buyback programme.

Maiden posts improved operating earnings for Q2

Maiden Holdings has recorded non-GAAP operating earnings of $1.2mn for 2020’s second quarter, a marked turnaround on the $21.3mn loss in the prior year period.

Maiden regains Nasdaq listing compliance

Nasdaq has informed Maiden Holdings that it has regained compliance with the exchange’s minimum bid price and now complies with all applicable listing requirements.

Maiden posts first net profit in two years in Q1

Maiden Holdings has reported non-Gaap operating earnings of $3.1mn for the first quarter, compared with an operating loss of $27.6mn in the prior year period, while revealing its first net profit since the first quarter of 2018.

Maiden names CFO Haveron as co-CEO

Maiden Holdings has named its chief financial officer Patrick Haveron as co-CEO alongside Lawrence Metz, effective immediately.

Maiden to appeal Nasdaq delisting ruling

Maiden Holdings is set to appeal a ruling that would see the Vermont-based reinsurer delisted from the Nasdaq Capital Market next week after its stock failed to trade at $1 or more for 10 consecutive days.

Maiden reports small Q4 operating loss as re-domestication completes

Maiden Holdings, which has undergone a drastic restructuring in the past two years as it battled large losses related to its reinsurance of AmTrust, has reported a $3.5mn operating loss for the fourth quarter.

Former Maiden Re NA president Highet leaves TransRe

Former Maiden Re North America president Tom Highet and vice president Joe Gaito have left TransRe, 18 months after joining the Alleghany reinsurer as part of a renewal rights deal, The Insurer can reveal.

Maiden returns to operating profit despite adverse development

Maiden Holdings has reported operating earnings for the first time since Q1 2018, in a third quarter that included reserve increases for general liability and commercial auto liability.

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