Company: MHLA
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001412100-25-000043
Chunk: 36

Company: Maiden Holdings, Ltd.
Filing Date: 2025-05-12
Form: 10-Q
Item: Item 1
Chunk 36
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)(3)Net$7,684 $12,408 Loss and LAEGross loss and LAE$385 $12,375 Loss and LAE ceded(8,008)(750)Net$(7,623)$11,625 The Company's reinsurance recoverable on unpaid losses balance as at March 31, 2025 was $549,350 (December 31, 2024: $571,331) presented in the Condensed Consolidated Balance Sheets. As of March 31, 2025, the total allowance for expected credit losses on the Company's reinsurance recoverable balance was $849 (December 31, 2024: $2,963). The following table provides a reconciliation of the beginning and ending balances of the allowance for expected credit losses on reinsurance recoverable for the three months ended March 31, 2025 and 2024:For the Three Months Ended March 31, 20252024Allowance for expected credit losses on reinsurance recoverable, beginning of period$2,963 $3,240 Decrease in allowance for expected credit losses on reinsurance recoverable where credit losses were previously recognized(2,114)(802)Allowance for expected credit losses on reinsurance recoverable, end of period$849 $2,438 On December 27, 2018, Cavello Bay Reinsurance Limited ("Cavello") and Maiden Reinsurance entered into a retrocession agreement pursuant to which certain assets and liabilities associated with the U.S. treaty reinsurance business held by Maiden Reinsurance were 100.0% retroceded to Cavello in exchange for a ceding commission. The reinsurance recoverable on unpaid losses due from Cavello under this retrocession agreement was $36,522 at March 31, 2025 (December 31, 2024: $35,357). The recoverable due from Cavello is net of an allowance for expected credit losses of $762 as at March 31, 2025 (December 31, 2024: $2,633).On July 31, 2019, Maiden Reinsurance and Cavello entered into a Loss Portfolio Transfer and Adverse Development Cover Agreement ("LPT/ADC Agreement") pursuant to which Cavello assumed the loss reserves as of December 31, 2018 associated with the AmTrust Quota Share in excess of a $2,178,535 retention up to $