MAIDEN HOLDINGS, LTD. (NASDAQ:MHLD) Files An 8-K Results of Operations and Financial Condition

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MAIDEN HOLDINGS, LTD. (NASDAQ:MHLD) Files An 8-K Results of Operations and Financial Condition
Item 2.02

Results of Operations and Financial Condition.

On September 28, 2017, Maiden Holdings, Ltd. (the “Company”) issued a press release announcing the Company's initial assessment of impact from third quarter 2017 hurricanes and third quarter 2017 common share repurchases.A copy of the press release is furnished herewith as Exhibit 99.1 and incorporated herein by reference.

The information contained in this Item 2.02 and in the accompanying exhibit shall not be deemed “filed” for purposes of Section18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section, or incorporated by reference in any filing under the Exchange Act or the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

Item 9.01

Financial Statements and Exhibits.

(d)Exhibit

Exhibit

No.

Description

99.1

Press Release of Maiden Holdings, Ltd., dated September 28, 2017

to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date:

September 28, 2017

MAIDEN HOLDINGS, LTD.

By:

/s/ Lawrence F. Metz

Lawrence F. Metz

Executive Vice President, General Counsel and

Secretary

EXHIBIT INDEX

Exhibit 99.1

logo1a12.jpg

PRESS RELEASE

Maiden Holdings, Ltd. Announces Initial Assessment of Impact from Third Quarter 2017 Hurricanes and Third Quarter 2017 Common Share Repurchases

HAMILTON, Bermuda, September 28, 2017 — Maiden Holdings, Ltd. ("Maiden" or “the Company”) (NASDAQ:MHLD) today announced its initial estimate of net loss exposure to the impact of all third quarter 2017 catastrophe activity to be in the range of $8 million to $31 million.

The expected ranges of net impact by storm on Maiden’s third quarter of 2017 results are estimated as follows:

Named Storm

Low Estimate

High Estimate

Harvey

$6 million

$18 million

Irma

$2 million

$13 million

Maiden expects no third quarter earthquake losses and no impact from Hurricane Maria.

Commenting on the recent catastrophe activity, Art Raschbaum, President and Chief Executive Officer of Maiden said, “Our thoughts and prayers go out to the many people impacted by these devastating events. It is important to note that Maiden is not a participant in the catastrophe reinsurance market and consistent with Maiden’s strategy of focusing on non-catastrophe business, the Company expects a modest level of losses from the significant storms occurring during the third quarter of 2017. Across Maiden's entire portfolio, internal catastrophe modeling and specific account-by-account analyses suggests, at this time, that hurricane related losses will have a modest impact on Maiden’s 2017 combined ratio. As the expected results from these hurricanes suggest, aggregation of all property exposures are carefully managed to mitigate the impacts of catastrophes on the Company's earnings and balance sheet."

Maiden also announced that during the current quarter, the Company has repurchased 2,015,700 common shares at an average price of $7.11 per common share including commission. As of September 28, 2017, the Company had $85.7 million remaining under its authorized share repurchase program.

About Maiden Holdings, Ltd.

Maiden Holdings, Ltd. is a Bermuda-based holding company formed in 2007. Through its subsidiaries, which are each A rated (excellent) by A.M. Best, the Company is focused on providing non-catastrophic, customized reinsurance products and services to small and mid-size insurance companies in the United States and Europe.As of June 30, 2017, Maiden had $6.8 billion in assets and shareholders' equity of $1.5 billion.

Forward Looking Statements

This release contains "forward-looking statements" which are made
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.