Maiden Holdings Reports Q4 2022 Net Income of $36.2M, Driven by $87.2M Gain from Preference Share Exchange

Maiden Holdings, Ltd.

Net income attributable to common shareholders was $36.2 million for Q4 2022, compared to $16.2 million in Q4 2021.
Non-GAAP operating earnings reached $63.4 million ($0.72 per diluted share) in Q4 2022, up from $2.3 million a year earlier.
Book value per common share increased to $2.80 at December 31, 2022 from $2.60 at December 31, 2021.
Exchange of preference shares for common shares generated a $87.2 million gain and simplified the balance sheet.
Underwriting loss of $35.5 million in Q4 2022 was driven by adverse prior-year loss development of $38.1 million, primarily in AmTrust Reinsurance and GLS segments.

item 2.02 item 7.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Maiden Holdings, Ltd. reported financial results for three and twelve months ended December 31, 2022.

Period: three and twelve months ended December 31, 2022
Result: reported results

Exact text from the filing

On March 15, 2023, the Company issued a press release announcing its results of operations for the three and twelve months ended December 31, 2022.

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Source: SEC EDGAR

accession 0001412100-23-000029

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