Maiden Holdings Files To Re-Domesticate
Maiden Holdings‘ principal operating subsidiary Maiden Reinsurance Ltd. [Maiden Bermuda] has submitted the necessary filings to re-domesticate from Bermuda to Vermont.
The company said, “Maiden Holdings, Ltd. [NASDAQ: MHLD] ["Maiden" or the "Company"] today reported that its principal operating subsidiary, Maiden Reinsurance Ltd. [Maiden Bermuda] had submitted the necessary filings to re-domesticate from Bermuda to the State of Vermont in the United States.
“While the Company is presently targeting a completion of the re-domestication process on or about January 1, 2020, both the licensing in Vermont and the discontinuation process in Bermuda are subject to approval by those respective regulators.
“The Company has determined that re-domesticating the Company to Vermont will enable the Company to better align its operations, capital and resources with the Company’s liabilities, which originate mostly in the United States, resulting in a more efficient structure.
“The proposed re-domestication, in combination with an extended series of actions previously taken and done in close consultation with the Bermuda Monetary Authority to de-risk the Company’s balance sheet, will continue to strengthen the Company’s capital position and solvency ratios.”
