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

Company: Maiden Holdings, Ltd.
Filing Date: 2025-05-12
Form: 10-Q
Item: Item 1
Chunk 10
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 except salaries and benefits where management’s judgment is applied; however, general corporate expenses are not allocated to the segments. In determining total assets by reportable segment, the Company identifies those assets that are attributable to a particular segment such as reinsurance balances receivable, reinsurance recoverable on unpaid losses, deferred commission and other acquisition expenses, funds withheld receivable, loan to related party and restricted cash and investments. All remaining assets are allocated to Corporate. The CODM for both the Diversified Reinsurance and the AmTrust Reinsurance segments is the Company's Chief Executive Officer and Chief Financial Officer who has served in that position since May 2023. The significant segment expenses as reported in the computation of underwriting results in the tables below are used by the Company's CODM in assessing segment performance on a quarterly basis and deciding how to allocate resources within the Company.The following tables summarize the underwriting results of our reportable segments and the reconciliation of our reportable segments' underwriting results to consolidated net loss for the three months ended March 31, 2025 and 2024, respectively: For the Three Months Ended March 31, 2025Diversified ReinsuranceAmTrust ReinsuranceTotalGross premiums written$5,016 $(942)$4,074 Net premiums written$4,991 $(942)$4,049 Net premiums earned$5,000 $2,684 $7,684 Net loss and LAE2,234 5,389 7,623 Commission and other acquisition expenses(2,291)(2,267)(4,558)General and administrative expenses(2,689)(606)(3,295)Underwriting income$2,254 $5,200 7,454 Reconciliation to net lossNet investment income and net realized and unrealized investment gains6,365 Interest and amortization expenses(4,818)Foreign exchange and other losses, net(7,434)Other general and administrative expenses(7,478)Income tax expense(12)Interest in loss of equity method investments(2,722)Net loss$(8,645)Underwriting income for the AmTrust Reinsurance segment above included the following items for the three months ended March 31, 2025 that were specifically considered by the CODM in assessing segment performance:• Commission and other acquisition expenses included accelerated amortization of deferred acquisition costs upon the recognition of a premium deficiency of $1,255 in the AmTrust Quota Share for the three