Company: MHLA
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001412100-25-000043
Chunk: 318

Company: Maiden Holdings, Ltd.
Filing Date: 2025-05-12
Form: 10-Q
Item: Item 2
Chunk 318
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 under the Loan to Related Party on a net basis instead of under accrued expenses and other liabilities.

Capital Resources 

During the three months ended March 31, 2025, book value per common share decreased by 17.4% to $0.38 and diluted book value per common share decreased by 17.8% to $0.37, compared to December 31, 2024. This was largely due to the net loss of $8.6 million reported by the Company, which produced substantially all of the $7.6 million decline in shareholders' equity for the three months ended March 31, 2025. Capital resources consist of funds deployed in support of our operations. 

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The following table shows the movement in our capital resources at March 31, 2025 and December 31, 2024:

 March 31, 2025December 31, 2024Change in $Change (%)($ in thousands)   Common shares at par value$1,513 $1,503 $10 0.7 %Additional paid-in capital888,575 888,067 508 0.1 %Accumulated other comprehensive loss(31,930)(32,733)803 (2.5)%Accumulated deficit(696,559)(687,914)(8,645)1.3 %Treasury shares, at cost(124,026)(123,730)(296)0.2 %Total Maiden shareholders' equity37,573 45,193 (7,620)(16.9)%Senior Notes - principal amount262,361 262,361 — — %Total capital resources$299,934 $307,554 $(7,620)(2.5)%

Total capital resources decreased by $7.6 million compared to December 31, 2024 due to the following items:

•accumulated deficit increased by $8.6 million due to the net loss reported for the three months ended March 31, 2025;

•net increase in additional paid-in capital of $0.5 million due to share-based compensation of $0.5 million;

•net increase in AOCI of $0.8 million due to: (1) net unrealized gains of $0.7 million on our AFS investment portfolio due to market price movements in the three months ended March 31, 2025, and (2) an increase in foreign currency