Maiden Holdings, Ltd. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 08, 2023 at 04:07 pm EDT
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Maiden Holdings, Ltd. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported revenue was USD 22.78 million compared to USD 20.69 million a year ago. Net loss was USD 2.93 million compared to net income of USD 1.06 million a year ago. Basic loss per share from continuing operations was USD 0.03 compared to basic earnings per share from continuing operations of USD 0.29 a year ago. Diluted loss per share from continuing operations was USD 0.03 compared to diluted earnings per share from continuing operations of USD 0.29 a year ago.
For the six months, revenue was USD 42.27 million compared to USD 30.74 million a year ago. Net loss was USD 14.26 million compared to USD 0.887 million a year ago. Basic loss per share from continuing operations was USD 0.14 compared to basic earnings per share from continuing operations of USD 0.31 a year ago. Diluted loss per share from continuing operations was USD 0.14 compared to diluted earnings per share from continuing operations of USD 0.31 a year ago.
Maiden Holdings, Ltd. is a Bermuda-based holding company. The Company is engaged in the ownership and management of businesses and assets in the insurance and related financial services industries. The Company also provides a range of legacy services to small insurance companies, particularly those in run-off or with blocks of reserves that are no longer core to those companies operations, working with clients to develop and implement finality solutions, including acquiring entire companies that enable its clients to meet their capital and risk management objectives. Its Diversified Reinsurance segment consists of a portfolio of predominantly property and casualty reinsurance businesses focusing on regional and specialty property and casualty insurance companies located primarily in Europe. Its AmTrust Reinsurance segment includes all business ceded to Maiden Reinsurance Ltd. (Maiden Reinsurance) by AmTrust Financial Services, Inc. (AmTrust).