Company: MHLA
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001412100-25-000043
Chunk: 290

Company: Maiden Holdings, Ltd.
Filing Date: 2025-05-12
Form: 10-Q
Item: Item 2
Chunk 290
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683)2 (685)Total AmTrust Reinsurance$(942)$(505)$(437)

The negative premiums for the three months ended March 31, 2025 and March 31, 2024 reflect the termination of the AmTrust Quota Share and the European Hospital Liability Quota Share as of January 1, 2019 which has resulted in no new business written under these contracts since 2018. 

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Net premiums earned decreased by $0.7 million for the three months ended March 31, 2025 compared to the same respective period in 2024. The table below provides detail on net premiums earned in the three months ended March 31, 2025 and 2024: 

For the Three Months Ended March 31,20252024Change in($ in thousands)TotalTotal$Net Premiums EarnedSmall Commercial Business$(259)$(492)$233 Specialty Program— (15)15 Specialty Risk and Extended Warranty2,943 3,924 (981)Total AmTrust Reinsurance$2,684 $3,417 $(733)

Net Loss and LAE — Net loss and LAE decreased by $14.1 million for the three months ended March 31, 2025, compared to the same respective period in 2024. This was driven by favorable PPD under the AmTrust Quota Share for the three months ended March 31, 2025 compared to adverse development for the same respective period in 2024. Net favorable PPD was $7.8 million during the three months ended March 31, 2025, compared to net adverse development of $7.2 million for the same respective period in 2024, incurred primarily within the AmTrust Quota Share and European Hospital Liability Quota Share. 

The table below shows PPD 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 adverse (favorable)($ in thousands)AmTrust Quota Share$(1,655)$5,000 LPT/ADC Agreement(6,176)(317)European Hospital Liability Quota Share27 2,535 Total AmTrust Prior Year Development$(7,804)$7,218 

Net favorable PPD for the three months ended March 31, 2025 was primarily due to the amortization