Company: MHLA
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001412100-25-000043
Chunk: 40

Company: Maiden Holdings, Ltd.
Filing Date: 2025-05-12
Form: 10-Q
Item: Item 1
Chunk 40
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 reported loss and LAE$364,021 $383,087 Reserve for losses incurred but not reported ("IBNR")393,265 410,592 Reserve for loss and LAE$757,286 $793,679 The following table represents a reconciliation of our beginning and ending gross and net loss and LAE reserves: For the Three Months Ended March 31,20252024Gross loss and LAE reserves, January 1$793,679 $867,433 Less: reinsurance recoverable on unpaid losses, January 1571,331 564,331 Net loss and LAE reserves, January 1222,348 303,102 Net incurred losses related to:Current year4,738 5,062 Prior years(12,361)6,563 (7,623)11,625 Net paid losses related to:Current year(2,152)(125)Prior years(19,231)(59,590)(21,383)(59,715)Change in deferred gain on retroactive reinsurance987 (4,982)GLS run-off business acquired or assumed(473)— Effect of foreign exchange rate movements14,080 (5,497)Net loss and LAE reserves, March 31207,936 244,533 Reinsurance recoverable on unpaid losses, March 31549,350 569,346 Gross loss and LAE reserves, March 31$757,286 $813,879 Prior period loss development ("PPD") arises from changes to loss estimates recognized in the current year that relate to loss reserves established in previous calendar years. The favorable or unfavorable development reflects changes in management's best estimate of the ultimate losses under the relevant reinsurance policies after considerable review of changes in actuarial assessments. 

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MAIDEN HOLDINGS, LTD. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)(in thousands of U.S. dollars, except share and per share data)

9. Reserve for Loss and Loss Adjustment Expenses (continued)The following table summarizes the (favorable) adverse prior period development experienced in each of our reportable segments for the three months ended March 31, 2025 and 2024: For the Three Months Ended March 31,Prior Year Loss Development (favorable) adverse20252024Diversified Reinsurance$(4,557)$(655)AmTrust Re