Company: MHLA
Filing Date: 2025-03-10
Form Type: 10-K
Source: 0001412100-25-000011
Chunk: 154

Company: Maiden Holdings, Ltd.
Filing Date: 2025-03-10
Form: 10-K
Item: Item 7
Chunk 154
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 For the year ended December 31, 2024, the proceeds from the sales, maturities and calls exceeded the purchases of fixed maturity securities by $14.9 million compared to net proceeds from sales and maturities of $77.0 million during 2023.  The size of the fixed income investment portfolio continues to decrease as claims payments are made for the runoff of existing loss reserves for contracts related to the terminated AmTrust Quota Share and the European Hospital Liability Quota Share.

Cash flows provided by investing activities for year ended December 31, 2024 included net proceeds from sales and redemption of $63.2 million for alternative investments during the year ended December 31, 2024 compared to net purchases of alternative investments of $18.4 million in 2023. The significant sales and redemptions of alternative investments during the year ended December 31, 2024 was part of a broader effort to reposition our balance sheet as part of ongoing group strategic initiatives while also strengthening overall liquidity. 

Cash Flows from Financing Activities

Cash flows used in financing activities were $3.7 million for the year ended December 31, 2024 compared to $3.0 million during 2023, largely due to common share repurchases under the Company's authorized share repurchase program.

During the year ended December 31, 2024, the Company repurchased 1,871,755 common shares at an average price per share of $1.87 for a total cost of $3.5 million under the Company's authorized common share repurchase plan. During the year ended December 31, 2023, the Company repurchased 1,439,575 common shares at an average price per share of $1.83 for a total cost of $2.6 million under the Company's authorized common share repurchase plan.

 No dividends on common shares were paid during the year ended December 31, 2024 and 2023. Our Board of Directors have not declared any common share dividends since the third quarter of 2018. 

Restrictions, Collateral and Specific Requirements 

Maiden Reinsurance is generally required to post collateral security with respect to any reinsurance liabilities it assumes from ceding insurers domiciled in the U.S. to obtain credit on their U.S. statutory financial statements with respect to reinsurance recoverables due to them. Consequently, cash and cash equivalents and investments are pledged in favor of ceding companies to comply with relevant insurance regulations or