Company: MHLA
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001412100-25-000043
Chunk: 38

Company: Maiden Holdings, Ltd.
Filing Date: 2025-05-12
Form: 10-Q
Item: Item 1
Chunk 38
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 by $— for the three months ended March 31, 2025 (year ended December 31, 2024: $26,200).The table below shows the components of the decrease in the reinsurance recoverable on unpaid losses under the LPT/ADC Agreement for the three months ended March 31, 2025 and the year ended December 31, 2024:20252024Opening Balance$532,910 $515,463 Adverse PPD covered under the LPT/ADC Agreement(1)4,901 64,338 Favorable PPD on commuted Workers Compensation business— (26,200)Recoveries received under the LPT/ADC Agreement(28,162)(20,825)Change in credit loss allowance on reinsurance recoverable under LPT/ADC Agreement289 134 Reinsurance recoverable on unpaid losses under the LPT/ADC Agreement$509,938 $532,910 (1) Adverse PPD covered under the LPT/ADC Agreement for the three months ended March 31, 2025 is due to foreign currency translation adjustments on the re-measurement of net loss reserves and insurance related liabilities denominated in British pound and euro.The table below shows the components of the decrease in the deferred gain for the LPT/ADC Agreement for the three months ended March 31, 2025 and the year ended December 31, 2024: 20252024Opening Balance$104,955 $70,916 Adverse PPD covered under the LPT/ADC Agreement(1)4,901 64,338 Favorable PPD on commuted Workers Compensation business— (26,200)Amortization of deferred gain for the LPT/ADC Agreement(5,888)(4,099)Deferred gain liability for the LPT/ADC Agreement$103,968 $104,955 (1) Adverse PPD covered under the LPT/ADC Agreement for the three months ended March 31, 2025 is due to foreign currency translation adjustments on the re-measurement of net loss reserves and insurance related liabilities denominated in British pound and euro.

Cavello provided collateral in the form of a letter of credit in the amount of $445,000 to AmTrust under the LPT/ADC Agreement. Cavello is subject to additional collateral funding requirements as explained in Note 10. Related Party Transactions. As of March 31,