Maiden Holdings 2015 Q4 Net Income: $24.7M
Bermuda-based Maiden Holdings Ltd. reported fourth quarter 2015 net operating earnings of $26.4 million compared with $34.6 million in the fourth quarter of 2014.
Net income attributable to Maiden common shareholders in the fourth quarter of 2015 was $24.7 million compared to net income attributable to Maiden common shareholders of $27.5 million in the fourth quarter of 2014.
Commenting on the Company’s results, Art Raschbaum, Chief Executive Officer of Maiden, said: “Maiden generated an operating return on common equity of 11.8% and 12.0% in the fourth quarter and full year 2015, respectively.
“We believe that 2015 further validates the strength of our unique low volatility strategy as we absorbed adverse commercial auto results in our Diversified Reinsurance segment but continued to generate overall profitable underwriting results along with relatively strong operating returns and income.
“While we experienced revenue headwinds in our Diversified Reinsurance segment, we have set the stage for profitable expansion of this business in 2016 and beyond with our Solvency II capital solutions business in Europe, our growing customer base in the U.S., and the expansion of our IIS OEM branded insurance business.
“Significantly, AmTrust continues to perform well, with continued growth and profitable underwriting. We remain focused on disciplined underwriting while leveraging our unique competitive advantages.”
