Company: MHLA
Filing Date: 2025-03-26
Form Type: DEFM14A
Source: 0001104659-25-028254
Chunk: 81

Company: Maiden Holdings, Ltd.
Filing Date: 2025-03-26
Form: DEFM14A
Chunk 81
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 To the extent that loss and LAE exceed estimates, the combined company will be required to immediately recognize any retained unfavorable development and increase loss reserves, with a corresponding reduction in its net income in the period in which the reserve levels are increased. Consequently, ultimate losses paid could materially exceed reported loss reserves and have a material and adverse effect on the combined company’s business, financial condition, results of operations and prospects.

The combined company’s business will depend on the efforts of its executive officers and other personnel. If the combined company is unsuccessful in its efforts to attract, train and retain qualified personnel, its business, financial condition, results of operations and prospects may be materially adversely affected.

The combined company’s success will depend on its executive officers’ industry expertise, knowledge of its markets and relationships with clients. The executive officers of the combined company will be:

•

Luke Ledbetter (Chief Executive Officer);

•

Terry Ledbetter (Executive Chairman);

•

Patrick Haveron (President and Chief Financial Officer); and

•

Lawrence F. Metz (Chief Legal Officer).

The combined company has agreements with its executive officers that contain certain non-compete and non-solicit provisions. Nonetheless, should any of its executive officers cease working for the combined company, it may not be able to find acceptable replacements with comparable skills and experience in the niche markets that the combined company targets. In addition, its business is also dependent on other skilled employees. The combined company cannot guarantee its ability to attract, train and retain, on a timely basis and on anticipated economic and other terms, experienced and capable senior management, underwriters and support staff. The combined company will pay competitive salaries, bonuses and equity-based rewards in order to attract and retain such personnel, but there can be no assurance that the combined company will be successful in such endeavors. Loss of key personnel or inability to recruit and retain qualified personnel in the future could have a material and adverse effect on the combined company’s business, financial condition or results of operations.

The combined company may require additional capital in the future which may not be available or available only on unfavorable terms.

The combined company’s future capital requirements will depend on many factors, including its ability to successfully write new business and to establish premium rates and reserves at levels sufficient to cover

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losses. To the extent funds generated by its ongoing operations and capitalization are insufficient for operating requirements or to fund future strategic initiatives such as entering into new lines of business or exercising the option to acquire the AmTrust