Company: MHLA
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001412100-25-000043
Chunk: 252

Company: Maiden Holdings, Ltd.
Filing Date: 2025-05-12
Form: 10-Q
Item: Item 8
Chunk 252
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 million to Maiden NA as of March 31, 2025. 

The summarized financial information below has been presented on a combined basis for the issuer Maiden NA and the guarantor Maiden Holdings, excluding all other subsidiaries. Intercompany balances and transactions between Maiden NA and Maiden Holdings, whose information is presented above on a combined basis, were eliminated. Any investment by Maiden NA or Maiden Holdings in subsidiaries that are not issuers or guarantors is not presented in the financial information below. Intercompany balances with subsidiaries that are not issuers or guarantors and any related party transactions were separately disclosed below and are not included in the total assets and total liabilities presented for Maiden NA and Maiden Holdings. 

The net loss for Maiden NA and Maiden Holdings was due to interest and amortization expenses on the Senior Notes as well as general and administrative expenses. The net loss in Maiden NA also reflects income tax expense incurred for the respective period. Summarized financial information of Maiden NA and Maiden Holdings as of March 31, 2025 and for the three months ended March 31, 2025 were as follows:

 Maiden NAMaiden Holdings($ in thousands)Total assets$7,883 $5,664 Total liabilities151,294 110,703 Amounts due from subsidiaries (not included in total assets above)27 2,226 Amounts due to subsidiaries (not included in total liabilities above)12,748 3,242 Related party loan payable (not included in total liabilities above)— 316,464 Total revenue for the quarter-to-date period454 4 Net loss for the quarter-to-date period(2,686)(10,816)

The ratio of Debt to Total Capital Resources at March 31, 2025 and December 31, 2024 was computed as follows: 

($ in thousands)March 31, 2025December 31, 2024Senior notes - principal amount$262,361 $262,361 Maiden shareholders’ equity37,573 45,193 Total capital resources$299,934 $307,554 Ratio of debt to total capital resources87.5 %85.3 %

Off-Balance Sheet Arrangements

Certain of the Company's investments in limited partnerships are related to real estate joint ventures with interests in multi-property projects with varying strategies ranging from the development of properties to the ownership of income-producing properties. In certain of these joint ventures, the Company has provided certain indemnities