Company: MHLA
Filing Date: 2025-03-10
Form Type: 10-K
Source: 0001412100-25-000011
Chunk: 134

Company: Maiden Holdings, Ltd.
Filing Date: 2025-03-10
Form: 10-K
Item: Item 7
Chunk 134
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194)39 Net loss and LAE(186,127)(61,228)Commission and other acquisition expenses(24,310)(19,462)General and administrative expenses(1)(12,214)(12,800)Underwriting loss(2)(197,371)(49,482)Other general and administrative expenses(1)(23,134)(17,996)Net investment income25,546 37,378 Net realized and unrealized investment gains 5,610 7,848 Foreign exchange and other gains (losses), net7,001 (5,741)Interest and amortization expenses(19,266)(18,226)Income tax expense(1,055)(196)Interest in income of equity method investments1,700 7,846 Net loss $(200,969)$(38,569)

(1)Underwriting related general and administrative expenses is a non-GAAP measure. Please refer to "General and Administrative Expenses" below for additional information related to these corporate expenses and the reconciliation to those presented in our Consolidated Statements of Income.

(2)Underwriting loss is a non-GAAP measure and is calculated as net premiums earned plus other insurance revenue (expense), less net loss and LAE, commission and other acquisition expenses and general and administrative expenses directly related to underwriting activities.

(3)The Company no longer presents certain non-GAAP measures such as combined ratio and its related components in its results of operation, as it believes that as the run-off of its reinsurance portfolios progresses, such ratios are increasingly not meaningful and of less value to readers as they evaluate our financial results.

Net loss attributable to Maiden common shareholders 

Net loss for the year ended December 31, 2024 was $201.0 million compared to a net loss of $38.6 million in 2023. The net decrease in our financial results for the year ended December 31, 2024 compared to 2023 was primarily due to:

•underwriting loss of $197.4 million in the year ended December 31, 2024 compared to an underwriting loss of $49.5 million in 2023 largely due to:

•adverse PPD of $154.4 million for the year ended December 31, 2024 compared to adverse PPD of $38.2 million in 2023 detailed as follows:

•Our AmTrust Reinsurance segment had adverse PPD of $147.5 million in 2024, compared to