Company: MHLA
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001412100-25-000043
Chunk: 227

Company: Maiden Holdings, Ltd.
Filing Date: 2025-05-12
Form: 10-Q
Item: Item 8
Chunk 227
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 the SEC on March 10, 2025. Please also refer to "Part I, Item 1 - Notes to Condensed Consolidated Financial Statements (unaudited) "Note 4.(e) Restricted Cash, Cash Equivalents and Investments" included in this Form 10-Q for details of the fair values of restricted assets at March 31, 2025 and December 31, 2024.

At March 31, 2025 and December 31, 2024, restricted cash and cash equivalents and fixed maturity investments used as collateral were $204.2 million and $192.4 million, respectively. This collateral represents 82.8% and 71.9% of the fair value of total fixed maturity investments, cash, restricted cash and cash equivalents at March 31, 2025 and December 31, 2024, respectively.

 57

Cash and Investments 

Historically, the investment of our funds had generally been designed to ensure safety of principal while generating current income. Accordingly, our fixed income investment portfolio is invested in liquid, investment-grade fixed maturity securities which are all designated as AFS at March 31, 2025. Further, as our insurance liabilities continue to run-off and the required capital to operate our business for regulatory purposes decreases, we expanded Maiden Reinsurance’s investment policy which has been approved by the Vermont DFR. Under this modified investment policy, we expanded the range of asset classes we invest in to enhance the income and total returns our investment portfolio produces.  We categorize these investments as alternative investments which include "Other Investments", "Equity Securities", and "Equity Method Investments" on our Condensed Consolidated Balance Sheets. 

As of March 31, 2025 and December 31, 2024, our cash and investments consisted of:

 March 31, 2025December 31, 2024 ($ in thousands)Fixed maturities, available-for-sale, at fair value$202,460 $232,613 Equity securities, at fair value11,850 13,147 Equity method investments78,841 81,287 Other investments163,558 157,016 Total investments456,709 484,063 Cash and cash equivalents28,706 25,651 Restricted cash and cash equivalents15,562 9,084 Total Investments and Cash and Cash Equivalents$500,977 $518,798 

In addition to the discussion