Maiden Holdings, Ltd. Comments on Recent Global Catastrophic Events
March 15 2011 - 9:47AM
Maiden Holdings, Ltd. (Nasdaq:MHLD) ("Maiden") announced today that
it anticipates minimal, if any, losses related to recent industry
events including the Australia floods, New Zealand earthquake, and
most recently, the earthquake and tsunami in Japan. Maiden's loss
estimate is derived from an in-depth review of in-force contracts
and related exposures.
Maiden's lower volatility business model maintains limited
exposure to catastrophic risks. As a result, the company does
not typically issue loss estimates. Given the apparent magnitude of
the Japanese earthquake and tsunami, and the anticipated cumulative
industry-wide effect of recent catastrophic events, the company
felt it was appropriate to comment on these matters.
About Maiden Holdings, Ltd.
Maiden Holdings, Ltd. is a Bermuda-based holding company formed
in 2007. We are focused on providing non-catastrophic, customized
reinsurance products and services, to small and mid-size insurance
companies in the United States and Europe. Our operating
subsidiaries are rated A- (excellent) by A.M. Best with a stable
outlook. As of December 31, 2010, the Company had $3.0 billion in
assets and shareholders' equity of $750 million.
The Maiden Holdings, Ltd. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=5006
Forward Looking Statements
This release contains "forward-looking statements" which are
made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. The forward-looking
statements are based on the Company's current expectations and
beliefs concerning future developments and their potential effects
on the Company. There can be no assurance that actual developments
will be those anticipated by the Company. Actual results may differ
materially from those projected as a result of significant risks
and uncertainties, including non-receipt of the expected payments,
changes in interest rates, effect of the performance of financial
markets on investment income and fair values of investments,
developments of claims and the effect on loss reserves, accuracy in
projecting loss reserves, the impact of competition and pricing
environments, changes in the demand for the Company's products, the
effect of general economic conditions, adverse state and federal
legislation, regulations and regulatory investigations into
industry practices, challenges inherent in international
operations, developments relating to existing agreements,
heightened competition, changes in pricing environments, and
changes in asset valuations. Additional information about these
risks and uncertainties, as well as others that may cause actual
results to differ materially from those projected is contained in
Item 1A. Risk Factors in the Company's Annual Report on Form 10-K
for the year ended December 31, 2010 as updated in periodic filings
with the SEC. The Company undertakes no obligation to publicly
update any forward-looking statements, except as may be required by
law.
CONTACT: Maiden Holdings, Ltd.
Ellen Taylor
856.359.2573
irelations@maiden.bm
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