Maiden’s $2.7bn LPT throws down gauntlet to CatalinaThe battle for the ownership of NASDAQ-listed Maiden Holdings Ltd took an intriguing twist late on Friday evening when the up-for-sale Bermudian firm agreed to transfer £2.675bn of loss reserves out of the company.
Sompo acquires Maiden’s US fac businessMaiden has sold its facultative reinsurance team to Sompo International.
Maiden share price leaps on bid war speculationShares in Bermudian carrier Maiden Holdings leapt almost 15 percent on Friday as investors contemplated the prospect of a potential bid-war between two heavyweight investors, Apollo Global Management and Stone Point Capital.
Former Maiden CEO Raschbaum receives $2.2mn settlementArturo M. Raschbaum, the former CEO of embattled Bermudian reinsurer Maiden Holdings Ltd, will receive a $2.2mn settlement from the firm he left suddenly in the summer.
Maiden shares up 13% after Catalina continued stake-buildingCatalina Holdings has continued to build its stake in embattled carrier Maiden despite being recently trumped by fellow Bermuda run-off firm Enstar Group to acquire $1.3bn of reserves relating to the reinsurer’s North American arm.
AM Best goes negative on Maiden over deal uncertaintyAM Best has put Maiden’s “A-” financial strength rating at risk after the Bermudian announced plans to offload its $1.1bn North American business and sell a significant renewal book to TransRe.
Maiden in advanced talks to sell US arm as TransRe buys renewal rightsTroubled Bermudian Maiden has struck a deal to sell a portfolio to TransRe and revealed that it is in “advanced discussions” to offload its $1.1bn North American business to an as-yet-unnamed third party.
AM Best warns that Maiden’s reserve charge has been ‘noted’Ratings agency AM Best has said it would not be taking any action against Bermudian reinsurer Maiden in the wake of its disappointing second quarter results, but warned that “changes in equity and reserves through the first six months of 2018 have been noted”.
Maiden’s voyage Bermuda’s Maiden has veered off course and appears to be going in a very different direction.
AmTrust buys time to terminate $2bn Maiden quota shareUS insurer AmTrust has negotiated extra time to cancel its $2bn reinsurance quota share with sister company Maiden.
Maiden’s shares plunge 41% as CEO resigns after bad Q2Shares in Maiden crashed by more than 41 percent on Thursday after the Bermudian reinsurer announced that its top brass had resigned after another poor second-quarter performance.
Top execs depart as AmTrust charge sends Maiden to an unexpected lossThe CEO and finance boss of Maiden have both stepped down in the wake of a poor second quarter that saw the Bermudian fall to an unexpected loss after taking a reserve charge on a book of business written for its sister company AmTrust.
AmTrust pushes Maiden into the red as strategic review rumbles onMaiden’s long-standing quota share with sister company AmTrust again hindered its performance as the Bermudian’s first quarter combined ratio extended further into the red.
Maiden shares open up as Bermudian appoints BofA for ‘strategic review’Shares in Bermudian reinsurer Maiden have risen in early morning trading in New York - despite trade war fears prompting a broader market slump - after the company announced it had appointed Bank of America Merrill Lynch to conduct a “strategic review” of its operations.
Under pressure Maiden shares hold up despite AM Best downgradeShares in Maiden Holdings closed broadly flat on 2 March following a downgrade by AM Best earlier that day as investors acknowledged the Bermudian’s lower dependence on financial strength ratings compared to its peers.
AmTrust founders up buy-out offer to $2.7bn as company discloses 'material weaknesses'US carrier AmTrust has upped its buyout offer to public equity holders to $13.50 per share and requested a 15 day extension to file its 2017 results amid “material weaknesses” in internal controls in a hectic 24 hours after sister company Maiden Holdings posted poor Q4 results yesterday.
Maiden shares plunge as investors punish AmTrust reserve chargeShares in Maiden plunged by as much as 16 percent in early morning trading in New York as investors pummelled the Bermudian reinsurer for a $139mn reserve charge on a book of business written by its sister company AmTrust.