Profile: Maiden Holdings Ltd (MHLD.O)
25 Jul 2016
Maiden Holdings, Ltd. (Maiden), incorporated on June 19, 2007, is a holding company. The Company is focused on serving the needs of regional and specialty insurers in the United States, Europe and select other global markets by providing reinsurance solutions designed to support their capital needs. Maiden operates through two segments: Diversified Reinsurance and AmTrust Reinsurance. It specializes in reinsurance solutions that optimize financing and risk management by providing coverage within the predictable and actuarially credible lower layers of coverage and/or reinsuring risks that are believed to be lower hazard, more predictable and generally not susceptible to catastrophe claims.
The Company provides reinsurance through its wholly owned subsidiaries, Maiden Reinsurance Ltd. (Maiden Bermuda) and Maiden Reinsurance North America, Inc. (Maiden US). It provides insurance sales and distribution services through Maiden Global Holdings, Ltd. (Maiden Global) and its subsidiaries. Maiden Global primarily focuses on providing branded auto and credit life insurance products through insurer partners to retail clients in the European Union (EU) and other global markets. These products also produce reinsurance programs, which are underwritten by Maiden Bermuda. Certain international credit life business is written on a primary basis by Maiden Life Forsakrings AB (Maiden LF).
The Company's Diversified Reinsurance segment consists of a portfolio of property and casualty reinsurance business focusing on regional and specialty property, and casualty insurance companies located, primarily in the United States and Europe. Maiden US writes treaties, on a quota share or excess of loss basis, and facultative risks, marketed through third-party intermediaries and on a direct basis. Maiden Bermuda also provides quota share reinsurance support to Maiden US and Maiden LF through intercompany reinsurance arrangements. Its product offerings include regional and specialty oriented property, casualty treaty reinsurance business, accident and health and facultative, and Umbrella Liability. It uses vendor developed technology systems to administer and manage the portfolio. For most United States clients, it provides enhanced security in the form of an internally developed dedicated trust agreement for the reinsurance balances payable to that client. The business associated with the IIS Acquisition (IIS business) consists of quota share contracts, which are underwritten and reinsured by Maiden Bermuda, with the exception of business written through Maiden LF, which is underwritten on a primary basis. This business is marketed primarily through Maiden Global's business development teams partnering with automobile manufacturers and local primary insurers to design and implement point of sale insurance programs.
AmTrust is the Company's client and is a multinational specialty property and casualty insurance holding company with operations in the United States, Europe and Bermuda. Through AmTrust, the Company reinsures specific lines of business within the AmTrust business segments, which include small commercial business insurance, which includes United States workers' compensation, commercial package and other property and casualty insurance products; specialty risk and extended warranty coverage for consumer and commercial goods and custom designed coverages, such as accidental damage plans and payment protection plans offered in connection with the sale of consumer and commercial goods, in the United States, United Kingdom and certain other European countries, European Hospital Liability, and specialty program, which includes package products, general liability, commercial auto liability, excess and surplus lines programs and other specialty commercial property and casualty insurance to a narrowly defined, homogeneous group of small and middle market companies.
The Company competes with Swiss Reinsurance Company Ltd., Munich Reinsurance America, Inc., PartnerRe Ltd., Hannover Re Group, Transatlantic Reinsurance Company and General Reinsurance Corporation.
Maiden Holdings Ltd
Schroders House, 131 Front Stree
HAMILTON HM 12