Maiden Holdings, Ltd. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 08, 2023 at 04:57 pm EST
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Maiden Holdings, Ltd. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 21.76 million compared to USD 17.68 million a year ago. Net loss was USD 3.53 million compared to USD 8.16 million a year ago. Basic loss per share from continuing operations was USD 0.03 compared to USD 0.09 a year ago. Diluted loss per share from continuing operations was USD 0.03 compared to USD 0.09 a year ago.
For the nine months, revenue was USD 64.03 million compared to USD 48.42 million a year ago. Net loss was USD 17.79 million compared to USD 9.05 million a year ago. Basic loss per share from continuing operations was USD 0.18 compared to basic earnings per share from continuing operations of USD 0.22 a year ago. Diluted loss per share from continuing operations was USD 0.18 compared to diluted earnings per share from continuing operations of USD 0.22 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).