Maiden posts Q1 net loss $11.3M; names Haveron sole CEO; board OKs $100M note buyback

Maiden Holdings, Ltd.

2023-Q1 EPS reported -$0.11 revenue$19,493,000

Net loss $0.11/diluted share vs net income $0.02 in Q1 2022; non-GAAP operating loss $0.08/share unchanged.
Underwriting loss widened to $8.3M from $1.7M a year ago, driven by $3.7M adverse prior-year development.
Patrick J. Haveron named sole CEO (retains CFO role); Lawrence F. Metz becomes Exec VP Chairman & Group President.
Board authorized repurchase of up to $100M senior notes; book value fell to $2.66 from $2.80 at Dec 31, 2022.
Net investment income rose 45% to $9.5M on floating-rate assets; no common dividend declared.

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 0.9

Maiden Holdings, Ltd. reported financial results for the three months ended March 31, 2023.

Period: the three months ended March 31, 2023
Result: reported results

Exact text from the filing

On May 9, 2023, the Company issued a press release announcing its results of operations for the three months ended March 31, 2023.

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Maiden Holdings, Ltd. filing history →

Source: SEC EDGAR

accession 0001412100-23-000054

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