Company: MHLA
Filing Date: 2025-03-10
Form Type: 10-K
Source: 0001412100-25-000011
Chunk: 151

Company: Maiden Holdings, Ltd.
Filing Date: 2025-03-10
Form: 10-K
Item: Item 7
Chunk 151
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 and as amended, maintains our established investment management and governance practices.

Maiden Reinsurance is regulated by the Vermont DFR and is the principal operating subsidiary of Maiden Holdings. At December 31, 2024, Maiden Reinsurance had statutory capital and surplus of $737.2 million, exceeding the amounts required to be maintained of $88.8 million at December 31, 2024. Under its license as an affiliated reinsurer under the captive licensing laws in the State of Vermont, Maiden Reinsurance requires the approval of the Vermont DFR for the payment of any dividends. In 2023 and 2024, the Vermont DFR approved an annual dividend program to be paid by Maiden Reinsurance to Maiden NA, with notification to the Vermont DFR as dividends are paid.  During the year ended December 31, 2024, Maiden Reinsurance paid dividends of $25.0 million to Maiden NA (2023 - $25.0 million). During the years ended December 31, 2024 and 2023, Maiden NA did not pay any dividends to Maiden Holdings. 

Maiden Holdings has two Swedish domiciled operating subsidiaries, Maiden LF and Maiden GF, which are both subject to regulation and supervision by the Swedish Finansinspektionen ("Swedish FSA"). As discussed in "Item 1. Business", we have entered into an agreement to sell Maiden LF and Maiden GF, which is pending regulatory approval. At December 31, 2024, Maiden LF and Maiden GF had statutory capital and surplus of $6.6 million and $6.9 million, respectively, exceeding the amounts required to be maintained of $4.1 million and $4.1 million, respectively, at December 31, 2024. Maiden LF and Maiden GF are subject to statutory and regulatory restrictions under the Swedish FSA that limit the maximum amount of annual dividends or distributions paid by Maiden LF and Maiden GF to Maiden Holdings. At December 31, 2024, Maiden LF and Maiden GF are not allowed to pay dividends or distributions without the permission of the Swedish FSA. During the years ended December 31, 2024 and 2023, Maiden LF and Maiden GF did not pay any dividends to Maiden Holdings. 

Maiden Holdings’ wholly owned U.K. subsidiary, Maiden Global, operates as a reinsurance services and holding company. Maiden Global is subject to regulation by the U.K. FCA. At December 31, 2024, Maiden Global is allowed