Company: MHLA
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001412100-25-000043
Chunk: 162

Company: Maiden Holdings, Ltd.
Filing Date: 2025-05-12
Form: 10-Q
Item: Item 8
Chunk 162
---
23.8%Underwriting-related derivative liability$— $— $3,984 $— $3,984 The Company utilizes the Pricing Service to assist in determining the fair value of its investments; however, management is ultimately responsible for all fair values presented in the Company’s consolidated financial statements. This includes responsibility for monitoring the fair value process, ensuring objective and reliable valuation practices, and pricing of assets and liabilities and use of pricing sources. The Company analyzes and reviews the information and prices received from the Pricing Service to ensure that the prices provided represent a reasonable estimate of fair value.The Pricing Service was utilized to estimate fair value measurements for 100.0% of our fixed maturities at March 31, 2025 and December 31, 2024, respectively. The Pricing Service utilizes market quotations for fixed maturity securities that have quoted market prices in active markets. Since fixed maturities other than U.S. treasury bonds generally do not trade actively on a daily basis, the Pricing Service prepares estimates of fair value measurements using relevant market data, benchmark curves, sector groupings and matrix pricing and these have been classified as Level 2 within the fair value hierarchy.At March 31, 2025 and December 31, 2024, respectively, approximately 0.0% of our fixed maturities were valued using the market approach. At March 31, 2025 and December 31, 2024, no securities in our fixed maturity investment portfolio were priced using a binding quotation from a broker and/or custodian as opposed to the Pricing Service. At March 31, 2025 and December 31, 2024, the Company did not adjust any pricing provided to it based on the review performed by its investment managers. There were no transfers to or from Level 3 during the three months ended March 31, 2025 and March 31, 2024.

 22

MAIDEN HOLDINGS, LTD. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)(in thousands of U.S. dollars, except share and per share data)

5. Fair Value of Financial Instruments (continued)(c) Level 3 Financial InstrumentsAt March 31, 2025, the Company holds Level 3 financial instruments which currently consist of privately held investments of $49,140 (December 31, 2024: $48,001) and an underwriting-related derivative liability of $3,984 (December 31,