Maiden Holdings Q1 net income falls to $1.6M from $71.7M; book value per share down to $2.47

Maiden Holdings, Ltd.

2022-Q1 EPS reported $0.02 revenue$10,049,000

Net income available to common shareholders $1.6M ($0.02 per share) vs $71.7M ($0.83) in Q1 2021.
Non-GAAP operating loss of $6.9M ($0.08 per share) vs income of $47.3M ($0.55) year-over-year.
Underwriting loss of $1.7M, driven by $5.1M negative AmTrust cession premium adjustments.
Book value per common share fell to $2.47 from $2.60 at Dec 31, 2021; adjusted book value $2.99.
Genesis Legacy Solutions grew assumed liabilities to $37.1M; no common or preferred dividends authorized.

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