Company: MHLA
Filing Date: 2025-04-21
Form Type: 425
Source: 0001104659-25-036858
Chunk: 8

Company: Maiden Holdings, Ltd.
Filing Date: 2025-04-21
Form: 425
Chunk 8
---
 Information regarding Maiden’s directors and executive
officers, including a description of their direct interests, by security holdings or otherwise, is contained in Maiden’s annual
report on Form 10-K for the fiscal year ended December 31, 2024, as amended, which was filed with the SEC on March 10,
2025 and amended on March 20, 2025 and in subsequent documents filed with the SEC, each of which can be obtained free of charge from
the sources indicated above. A summary biography for each of Luke Ledbetter and Terry Ledbetter is set forth below:

Luke Ledbetter serves as President and Chief Executive
Officer of Kestrel. Mr. Ledbetter previously served as Chief Underwriting Officer and Head of Business Development with State National
Companies. During Mr. Ledbetter‘s tenure at State National, gross written premium grew to more than $2.5 billion annually.
Mr. Ledbetter holds law degrees from Cambridge University and the University of Texas School of Law in addition to a B.A. from the
University of Texas at Austin.

Terry Ledbetter serves as Executive Chairman of
Kestrel. Mr. Ledbetter co-founded State National Companies in 1973 and served as Chairman, President and Chief Executive Officer
until his retirement at the end of 2019. Mr. Ledbetter pioneered the dedicated fronting business model in the property &
casualty industry and guided State National through its initial public offering in 2014 and sale to Markel Corporation in 2017. He received
his B.B.A. from Southern Methodist University.

Neither Luke Ledbetter nor Terry Ledbetter directly owns any securities
of Maiden at this time.

Additional information regarding the identity
of all potential participants in the solicitation of proxies to Maiden shareholders in connection with the Transactions and other matters
to be voted upon at the Maiden shareholders meeting to approve the Transactions, and their direct and indirect interests, by security
holdings or otherwise, are included in the definitive proxy statement/prospectus.

No Offer or Solicitation

This Current Report on Form 8-K is for informational
purposes only and not intended to and does not constitute an offer to subscribe for, buy or sell, the solicitation of an offer to subscribe
for, buy or sell or an invitation to subscribe for, buy or sell any securities or the solicitation of any vote or approval in any jurisdiction
pursuant to or in connection with the proposed Transactions or otherwise, nor shall there be any sale, issuance or transfer