MAIDEN HOLDINGS, LTD. (NASDAQ:MHLD) Files An 8-K Changes in Registrant’s Certifying Accountant

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MAIDEN HOLDINGS, LTD. (NASDAQ:MHLD) Files An 8-K Changes in Registrant’s Certifying Accountant

Item 4.01

Changes in Registrants Certifying Accountant.
(a) Resignation of Independent Registered Public Accounting Firm
On March 23, 2017, in view of the decision of the Audit Committee
(the Audit Committee) of the Board of Directors of Maiden
Holdings, Ltd. (the Company) to recommend the appointment of
Deloitte Ltd. (Deloitte) during its May 2017 annual general
meeting of shareholders, the Company received written notice from
its independent registered public accounting firm, BDO USA, LLP
(BDO), that it is resigning as the Companys independent
registered public accounting firm with immediate effect. As a
result, the Audit Committee has appointed Deloitte as the
Companys independent registered public accounting firm, subject
to ratification by the Companys shareholders in May and
regulatory approval.
The audit reports of BDO on the consolidated financial statements
of the Company as of and for the years ended December 31, 2015
and 2016 did not contain any adverse opinion or disclaimer of
opinion, nor were they qualified or modified as to uncertainty,
audit scope, or accounting principles. During the fiscal years
ended December 31, 2015 and 2016 and through March 23, 2017,
there were (i) no disagreements as that term is defined in Item
304(a)(1)(iv) of Regulation S-K and the related instructions,
between the Company and BDO on any matter of accounting
principles or practices, financial statement disclosure or
auditing scope or procedure, which disagreements, if not resolved
to the satisfaction of BDO, would have caused BDO to make
reference to the subject matter of the disagreements in its
reports on the consolidated financial statements for such years,
and (ii) no reportable events as that term is defined in Item
304(a)(1)(v) of Regulation S-K.
The Company provided BDO with a copy of this Current Report on
Form 8-K and requested that BDO furnish the Company with a letter
addressed to the U.S. Securities and Exchange Commission stating
whether it agrees with the statements contained herein. A copy of
BDOs letter, dated March 23, 2017, is filed as Exhibit 16.1 to
this Form 8-K.
(b) Engagement of New Independent Registered Public Accounting
Firm
The Audit Committee decided at a March 16, 2017 meeting to accept
in principle an offer by Deloitte to serve as the independent
registered public accounting firm of the Company for the annual
audit for the 2017 fiscal year, subject to agreement of
resignation by the current independent registered public
accounting firm of the Company and the Company signing an
engagement agreement with Deloitte. The engagement of Deloitte,
subject to regulatory approval, as the independent registered
public accounting firm of the Company for the 2017 fiscal year is
effective as of March 23, 2017. During the fiscal years ended
December 31, 2015 and 2016 and through March 23, 2017, neither
the Company, nor anyone on its behalf, have consulted Deloitte
with respect to (i) the application of accounting principles to a
specified transaction, either completed or proposed, or the type
of audit opinion that might be rendered on the Companys
consolidated financial statements, and neither a written report
was provided to the Company nor oral advice was provided to the
Company that Deloitte concluded was an important factor
considered by the Company in reaching a decision as to the
accounting, auditing or financial reporting issue; or (ii) any
matter that was either the subject of a disagreement (as defined
in Item 304(a)(1)(iv) of Regulation S-K and the related
instructions) or a reportable event (as described in Item
304(a)(1)(v) of Regulation S-K).
Item 9.01
Financial Statements and Exhibits.
(d) Exhibits.
Exhibit no.
Description
16.1
Letter from BDO USA, LLP dated March 23, 2017


About MAIDEN HOLDINGS, LTD. (NASDAQ:MHLD)

Maiden Holdings, Ltd. (Maiden) is a holding company. The Company is focused on serving the needs of regional and specialty insurers in the United States, Europe and select other global markets by providing reinsurance solutions designed to support their capital needs. Maiden operates through two segments: Diversified Reinsurance and AmTrust Reinsurance. It specializes in reinsurance solutions that optimize financing and risk management by providing coverage within the predictable and actuarially credible lower layers of coverage and/or reinsuring risks that are believed to be lower hazard, more predictable and generally not susceptible to catastrophe claims. The Company provides reinsurance through its wholly owned subsidiaries, Maiden Reinsurance Ltd. (Maiden Bermuda) and Maiden Reinsurance North America, Inc. (Maiden US). It provides insurance sales and distribution services through Maiden Global Holdings, Ltd. (Maiden Global) and its subsidiaries.

MAIDEN HOLDINGS, LTD. (NASDAQ:MHLD) Recent Trading Information

MAIDEN HOLDINGS, LTD. (NASDAQ:MHLD) closed its last trading session down -0.05 at 13.75 with 384,527 shares trading hands.