Company: MHLA
Filing Date: 2025-03-10
Form Type: 10-K
Source: 0001412100-25-000011
Chunk: 146

Company: Maiden Holdings, Ltd.
Filing Date: 2025-03-10
Form: 10-K
Item: Item 7
Chunk 146
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.0)%Specialty Risk and Extended Warranty(1,012)60.0 %(3,627)92.2 %Total AmTrust Reinsurance$(1,686)100.0 %$(3,936)100.0 %

The negative premiums for the year ended December 31, 2024 and 2023 reflect the termination of the AmTrust Quota Share and the European Hospital Liability Quota Share as of January 1, 2019 which has resulted in no new business written under these contracts since 2018. The negative premiums written for the year ended December 31, 2024 is largely due to premiums cancellation of cases from 2020 in Specialty Risk and Extended Warranty. The negative gross and net premiums written for the year ended December 31, 2023 reflect cession adjustments of $6.1 million due to cancellation of cases in a certain program in Specialty Risk and Extended Warranty.

Net premiums earned decreased by $1.2 million for the year ended December 31, 2024 compared to 2023. The table below details net premiums earned by category for the years ended December 31, 2024 and 2023: 

For the Year Ended December 31,20242023($ in thousands)Total% of TotalTotal% of TotalNet Premiums EarnedSmall Commercial Business$(643)(4.7)%$(465)(3.1)%Specialty Program(31)(0.2)%156 1.0 %Specialty Risk and Extended Warranty14,361 104.9 %15,239 102.1 %Total AmTrust Reinsurance$13,687 100.0 %$14,930 100.0 %

 Other Insurance Expenses - This included $24.3 million in underwriting related charges incurred during the fourth quarter of 2024 which represents the settlement of a dispute over cessions of ceded uncollected premium made by AII to Maiden Reinsurance, the principal amount of which will be payable by Maiden Reinsurance in quarterly installments through the maturity date of December 31, 2032. Please refer to Note 10 — Related Party Transactions included under Part II Item 8 "Financial Statements and Supplementary Data" of this Annual Report on Form 10-K for further information.

Net Loss and Loss Adjustment Expenses - Net loss and LAE increased by $116.5 million for the year ended December 31, 2024 compared to 2023 driven