Company: MHLA
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001412100-25-000043
Chunk: 100

Company: Maiden Holdings, Ltd.
Filing Date: 2025-05-12
Form: 10-Q
Item: Item 1
Chunk 100
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 16.3 %$60,703 13.6 %Total floating rate AFS fixed maturities at fair value63,103 16.3 %60,703 13.6 %Loan to related party128,118 33.1 %167,975 37.5 %Total floating rate securities$191,221 49.4 %$228,678 51.1 % Total fixed income investments at fair value (1)$387,452 $447,973 

(1) Total fixed income investments at fair value include AFS fixed maturities, cash and restricted cash, funds withheld receivable, and net loan receivable from related party.

At March 31, 2025 and December 31, 2024, 100.0% of the Company’s U.S. agency bond holdings are mortgage-backed. Total U.S. agency MBS comprise 11.4% of our fixed maturity investment portfolio at March 31, 2025. Given their relative size to our total investments, if faster prepayment patterns were to occur over an extended period of time, this could potentially limit the growth in our investment income in certain circumstances or reduce the total amount of investment income we earn. Additional details on our U.S. Agency MBS holdings at March 31, 2025 and December 31, 2024 were as follows: 

March 31, 2025December 31, 2024($ in thousands)Fair Value% of TotalFair Value% of TotalFNMA – fixed rate$13,240 57.3 %$13,232 56.7 %FHLMC – fixed rate7,806 33.8 %7,987 34.2 %GNMA – variable rate2,062 8.9 %2,137 9.1 %Total U.S. Agency MBS$23,108 100.0 %$23,356 100.0 %

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At March 31, 2025 and December 31, 2024, 100.0% of our fixed maturity investments consisted of investment grade securities. We define a security as being below investment grade if it has an S&P credit rating of BB+ or equivalent, or less. Please see Part I, Item 1 - Notes to Condensed Consolidated Financial Statements (unaudited) Note