earnings
confidence high
sentiment positive
materiality 0.70
Maiden Holdings reports Q4 net income $16.2M, FY 2021 net income $117.6M; book value per share up 66% to $2.60
Maiden Holdings, Ltd.
- Q4 net income $16.2M ($0.19/diluted) vs $47.7M ($0.56) in Q4 2020; FY net income $117.6M vs $80.0M in 2020.
- Book value per common share $2.60 at Dec 31, 2021, up from $1.57 a year earlier; adjusted book value $3.18.
- Preference share repurchases generated $91.0M gain in 2021; remaining authorization $10.9M; subsequent repurchases expected to add $3.3M gain in Q1 2022.
- Genesis Legacy Solutions completed first loss portfolio transfer; reserves $14.8M as of Dec 31, 2021.
- Net operating loss carryforwards $230.2M; deferred tax asset $90.1M remains fully reserved.