Maiden Holdings Q1 net income $1.5M vs loss; renewal rights deal with AmTrust Nordic

Maiden Holdings, Ltd.

2024-Q1 EPS reported $0.01 revenue$28,904,000

Net income of $1.5M ($0.01/share) vs net loss of $11.3M in Q1 2023; adjusted non-GAAP earnings $4.4M ($0.04/share).
Adjusted book value per share rose to $3.24 at Mar 31 from $2.48 at Dec 31; deferred gain on LPT/ADC $75.9M.
Investment results increased to $17.1M from $10.5M, driven by $8.8M net realized/unrealized gains, mostly private equity.
Entered renewal rights transaction with AmTrust Nordic AB for majority of Nordic primary business; expects to reduce annual expenses by up to $6M.
Repurchased 590,995 shares at avg $2.01; $70.4M remaining under $100M buyback plan as of May 8, 2024.

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 0.4

Maiden Holdings, Ltd. reported financial results for the three months ended March 31, 2024.

Period: the three months ended March 31, 2024
Result: reported results

Exact text from the filing

On May 9, 2024, the Company issued a press release announcing its results of operations for the three months ended March 31, 2024.

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Maiden Holdings, Ltd. filing history →

Source: SEC EDGAR

accession 0001412100-24-000046

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