Company: MHLA
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001412100-25-000043
Chunk: 194

Company: Maiden Holdings, Ltd.
Filing Date: 2025-05-12
Form: 10-Q
Item: Item 8
Chunk 194
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 comprise a substantial portion of the Diversified Reinsurance segment, the Company has concluded that the sale does not constitute discontinued operations as it does not represent a strategic shift that will have a major effect on its ongoing operations and financial results. Pursuant to the terms of the Swedish Subsidiaries Sale agreement, any remaining historic business upon closing will be fully retroceded to the Company thus there will be continuing involvement regarding the historical reinsurance operations.  However, pursuant to the terms of the Swedish Subsidiaries Sale, this transaction met the relevant held for sale criteria at December 31, 2024 and accordingly, any non-underwriting related assets and liabilities related to the sale consideration are classified as held-for-sale in the Condensed Consolidated Balance Sheets as at March 31, 2025 and December 31, 2024. All underwriting related balances are excluded from the held-for-sale assets and liabilities which amounted to net insurance liabilities of $5,839 as at March 31, 2025 (December 31, 2024 - $6,500).The Company estimated the fair value of the net assets held-for-sale to be based on the estimated selling price less costs to sell and these assets are classified as Level 2 within the fair value hierarchy as of March 31, 2025. The assets and liabilities classified as held for sale on the Company's Consolidated Balance Sheets as at March 31, 2025 and December 31, 2024 include the following:March 31,2025December 31,2024ASSETSFixed maturities, available-for-sale, at fair value$5,902 $6,656 Cash and cash equivalents12,976 13,349 Accrued investment income60 125 Other assets700 685 Total assets held for sale$19,638 $20,815 LIABILITIESAccrued expenses and other liabilities$645 $883 Total liabilities held for sale$645 $883 

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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)

15. Subsequent Events

Asset SalesSubsequent to March 31, 2025, USQ Risk, a private equity investment held by the Company in the insurance distribution industry ("USQ") that is accounted for as an equity method investment completed an asset purchase agreement