Company: MHLA
Filing Date: 2025-03-10
Form Type: 10-K
Source: 0001412100-25-000011
Chunk: 153

Company: Maiden Holdings, Ltd.
Filing Date: 2025-03-10
Form: 10-K
Item: Item 7
Chunk 153
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 sufficient funding to fulfill those obligations. 

The Company’s management believes our current sources of liquidity are adequate to meet its cash requirements for the next twelve months as we generally expect negative operating cash flows to be sufficiently offset by positive investing cash flows. While we continue to expect our cash flows to be sufficient to meet our cash requirements and to operate our business, our ability to execute our asset and capital management initiatives are dependent on maintaining adequate levels of unrestricted liquidity and cash flows. Our recent expanded asset management strategy can be impacted by both investment specific and broader financial market conditions and may not produce the expected liquidity and cash flows these investments are designed to achieve, or the timing thereof may also be impacted by those factors.

At December 31, 2024, unrestricted cash, cash equivalents and fixed maturity investments were $75.0 million compared to $73.4 million held at December 31, 2023, an increase of $1.6 million during the year ended December 31, 2024. Please see the related discussion on cash flows from investing and financing activities below. The table below summarizes our operating, investing and financing cash flows for the years ended December 31, 2024 and 2023: 

For the Year Ended December 31,20242023($ in thousands)Operating activities$(67,449)$(59,778)Investing activities77,740 58,512 Financing activities(3,735)(3,015)Effect of exchange rate changes on foreign currency cash(1,150)335 Total increase (decrease) in cash, cash equivalents and restricted cash$5,406 $(3,946)

Cash Flows from Operating Activities

Cash flows used in operating activities for the year ended December 31, 2024 were $67.4 million compared to cash flows used in operating activities of $59.8 million for the year ended December 31, 2023. The increase in cash used in operating cash flows were largely due to significantly weaker operating results during  2024 compared to 2023.

Cash Flows from Investing Activities

Cash flows provided by investing activities consist of proceeds from sales and maturities of investments net of payments for investments acquired. Net cash provided by investing activities was $77.7 million during the year ended December 31, 2024 compared to net cash provided by investing activities of $58.5 million for 2023.