Company: MHLA
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001412100-25-000043
Chunk: 41

Company: Maiden Holdings, Ltd.
Filing Date: 2025-05-12
Form: 10-Q
Item: Item 1
Chunk 41
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insurance(7,804)7,218 Total Prior Year Development$(12,361)$6,563 Diversified Reinsurance SegmentIn the Diversified Reinsurance segment, there was favorable PPD of $4,557 for the three months ended March 31, 2025 (2024: favorable $655). The favorable PPD for the three months ended March 31, 2025 was primarily driven by favorable development in GLS business lines, and other runoff business.  Prior year development for the three months ended March 31, 2024 was driven by favorable development in GLS and other runoff business lines partly offset by adverse development in International business.AmTrust Reinsurance SegmentThe table below shows prior year loss development for the AmTrust Reinsurance segment for the three months ended March 31, 2025 and 2024: For the Three Months Ended March 31, 20252024Prior Year Loss Development (favorable) adverse AmTrust Quota Share$(1,655)$5,000 LPT/ADC Agreement(6,176)(317)European Hospital Liability Quota Share27 2,535 Total AmTrust Reinsurance PPD$(7,804)$7,218 In the AmTrust Reinsurance segment, net favorable PPD was $7,804 during the three months ended March 31, 2025 (2024: adverse $7,218) as detailed in the table above. Net favorable PPD for the three months ended March 31, 2025 was primarily from amortization of the deferred gain liabilty on the LPT/ADC Agreement of $5,888 which reduced net losses incurred in the current period; in addition there was a reduction of $289 in the credit loss allowance for reinsurance recoverable under the LPT/ADC Agreement for the three months ended March 31, 2025.Net adverse PPD for the three months ended March 31, 2024 was primarily from the AmTrust Quota Share and European Hospital Liability. In the AmTrust Quota Share, U.S. Program business experienced additional adverse development from construction defect coverage for accident years 2015 to 2018 as new claims emergence was significantly greater than expected; this was partly offset by continued favorable development within Workers Compensation business for accident years 2014 to 2017. Net adverse loss development on European Hospital Liability Quota Share was primarily driven by emergence of loss data from adverse claim verdicts on older claims, resulting in strengthening