Document and Entity Information (USD $) In Millions, except Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Mar. 03, 2015	Jun. 30, 2014
Document and Entity [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2014
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	FY
Trading Symbol	MHLD
Entity Registrant Name	MAIDEN HOLDINGS, LTD.
Entity Central Index Key	0001412100
Current Fiscal Year End Data	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		73,092,169
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 633.1

CONSOLIDATED BALANCE SHEETS (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
ASSETS
Fixed maturities, available-for-sale, at fair value (Amortized cost 2014: $3,379,864; 2013: $3,127,792)	$ 3,456,904	$ 3,162,067
Other investments, at fair value (Cost 2014: $10,862; 2013: $4,522)	12,571	5,092
Total investments	3,469,475	3,167,159
Cash and cash equivalents	108,119	139,833
Restricted cash and cash equivalents	284,381	77,360
Accrued investment income	27,524	25,238
Reinsurance balances receivable, net (includes $267,490 and $299,645 from related parties in 2014 and 2013, respectively)	512,996	560,145
Reinsurance recoverable on unpaid losses (includes $3,845 and $7,263 from related parties in 2014 and 2013, respectively)	75,873	84,036
Loan to related party	167,975	167,975
Deferred commission and other acquisition expenses (includes $285,227 and $216,508 from related parties in 2014 and 2013, respectively)	372,487	304,908
Goodwill and intangible assets, net	87,336	90,613
Other assets	57,926	96,112
Total assets	5,164,092	4,713,379
LIABILITIES
Reserve for loss and loss adjustment expenses (includes $1,163,195 and $885,381 from related parties in 2014 and 2013, respectively)	2,271,292	1,957,835
Unearned premiums (includes $913,986 and $711,950 from related parties in 2014 and 2013, respectively)	1,207,757	1,034,754
Accrued expenses and other liabilities	83,877	110,114
Senior notes	360,000	360,000
Junior subordinated debt	0	126,381
Total liabilities	3,922,926	3,589,084
Commitments and Contingencies
EQUITY
Preference shares	315,000	315,000
Common shares ($0.01 par value; 73,900,889 and 73,595,897 shares issued in 2014 and 2013, respectively; 72,932,702 and 72,633,561 shares outstanding in 2014 and 2013, respectively)	739	736
Additional paid-in capital	578,445	574,522
Accumulated other comprehensive income	95,293	25,784
Retained earnings	255,084	211,602
Treasury shares, at cost (968,187 and 962,336 shares in 2014 and 2013, respectively)	(3,867)	(3,801)
Total Maiden shareholders’ equity	1,240,694	1,123,843
Noncontrolling interests in subsidiaries	472	452
Total equity	1,241,166	1,124,295
Total liabilities and equity	$ 5,164,092	$ 4,713,379

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Available-for-sale fixed maturities, Original or amortized cost	$ 3,379,864	$ 3,127,792
Other investments, Cost	10,862	4,522
Reinsurance balances receivable, net	512,996	560,145
Reinsurance recoverable on unpaid losses	75,873	84,036
Deferred commission and other acquisition expenses	372,487	304,908
Reserve for loss and loss adjustment expenses	2,271,292	1,957,835
Unearned premiums	1,207,757	1,034,754
Common shares, par value (in dollars per share)	$ 0.01	$ 0.01
Common shares, shares issued (in shares)	73,900,889	73,595,897
Common shares, shares outstanding (in shares)	72,932,702	72,633,561
Treasury shares, shares (in shares)	968,187	962,336
Affiliated Entity [Member]
Reinsurance balances receivable, net	267,490	299,645
Reinsurance recoverable on unpaid losses	3,845	7,263
Deferred commission and other acquisition expenses	285,227	216,508
Reserve for loss and loss adjustment expenses	1,163,195	885,381
Unearned premiums	$ 913,986	$ 711,950

CONSOLIDATED STATEMENTS OF INCOME (USD $) In Thousands, except Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Revenues
Gross premiums written	$ 2,507,352	$ 2,204,159	$ 2,000,992
Net premiums written	2,458,136	2,096,301	1,901,285
Change in unearned premiums	(206,393)	(95,414)	(97,505)
Net premiums earned	2,251,743	2,000,887	1,803,780
Other insurance revenue	13,410	14,232	12,890
Net investment income	117,215	91,352	81,188
Net realized gains on investment	1,163	3,585	1,907
Total other-than-temporary impairment losses	(2,364)	0	0
Portion of loss recognized in other comprehensive income (loss)	0	0
Net impairment losses recognized in earnings	(2,364)	0	0
Total revenues	2,381,167	2,110,056	1,899,765
Expenses
Net loss and loss adjustment expenses	1,498,271	1,349,630	1,262,348
Commission and other acquisition expenses	659,315	556,578	492,031
General and administrative expenses	62,937	58,661	53,804
Interest and amortization expenses	29,580	39,497	36,384
Accelerated amortization of junior subordinated debt discount and issuance cost	28,240	0	0
Amortization of intangible assets	3,277	3,780	4,362
Foreign exchange and other gains	(4,150)	(2,809)	(1,638)
Total expenses	2,277,470	2,005,337	1,847,291
Income before income taxes	103,697	104,719	52,474
Income tax expense	2,164	1,863	2,213
Net income	101,533	102,856	50,261
Less: income attributable to noncontrolling interests	(142)	(121)	(107)
Net income attributable to Maiden	101,391	102,735	50,154
Dividends on preference shares	(24,337)	(14,834)	(3,644)
Net income attributable to Maiden common shareholders	$ 77,054	$ 87,901	$ 46,510
Basic earnings per share attributable to Maiden shareholders (in dollars per share)	$ 1.06	$ 1.21	$ 0.64
Diluted earnings per share attributable to Maiden shareholders (in dollars per share)	$ 1.04	$ 1.18	$ 0.64
Dividends declared per common share (in dollars per share)	$ 0.46	$ 0.38	$ 0.33
Weighted average number of common shares - basic (in shares)	72,843,782	72,510,361	72,263,022
Adjusted weighted average number of common shares and assumed conversions - diluted (in shares)	74,117,568	76,417,839	73,105,531

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Comprehensive income:
Net income	$ 101,533	$ 102,856	$ 50,261
Other comprehensive income (loss)
Net unrealized holdings gains (losses) on available-for-sale fixed maturities arising during the period (net of tax of $(52), $17 and $(81) for the years ended December 31, 2014, 2013 and 2012, respectively)	40,573	(101,984)	82,915
Portion of other-than-temporary impairment losses recognized in other comprehensive income, net of deferred tax	0	0	0
Adjustment for reclassification of net realized losses (gains) recognized in net income, net of tax	3,278	(6,953)	(2,987)
Foreign currency translation adjustment	25,592	(6,388)	(2,852)
Other comprehensive income (loss)	69,443	(115,325)	77,076
Comprehensive income (loss)	170,976	(12,469)	127,337
Net income attributable to noncontrolling interests	(142)	(121)	(107)
Other comprehensive loss (income) attributable to noncontrolling interests	66	(21)	(5)
Comprehensive income attributable to noncontrolling interests	(76)	(142)	(112)
Comprehensive income (loss) attributable to Maiden	$ 170,900	$ (12,611)	$ 127,225

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (USD $) In Thousands, unless otherwise specified	Total	Preference shares - Series A and B	Preference shares - Series A and B Series A Preference Shares	Preference shares - Series A and B Series B Preference Shares	Common shares	Additional paid-in capital	Accumulated other comprehensive income	Retained earnings	Treasury shares	Noncontrolling interest in subsidiaries
Beginning balance at Dec. 31, 2011		$ 0			$ 732	$ 579,004	$ 64,059	$ 128,648	$ (3,801)	$ 338
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of preference shares - Series A			150,000	0
Exercise of options and issuance of shares					1	477
Issuance costs of preference shares						(4,959)
Net income	50,261							50,154		107
Dividends on preference shares								(3,644)
Dividends on common shares								(23,850)
Dividend paid to noncontrolling interest										(78)
Share-based compensation expense						1,347
Shares repurchased									0
Change in net unrealized gains on investment							79,928
Foreign currency translation adjustment	(2,852)						(2,857)			5
Ending balance at Dec. 31, 2012	1,015,611	150,000			733	575,869	141,130	151,308	(3,801)	372
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of preference shares - Series A				165,000
Exercise of options and issuance of shares					3	1,773
Issuance costs of preference shares						(5,325)
Net income	102,856							102,735		121
Dividends on preference shares								(14,834)
Dividends on common shares								(27,607)
Dividend paid to noncontrolling interest										(62)
Share-based compensation expense						2,205
Shares repurchased									0
Change in net unrealized gains on investment							(108,937)
Foreign currency translation adjustment	(6,388)						(6,409)			21
Ending balance at Dec. 31, 2013	1,124,295	315,000			736	574,522	25,784	211,602	(3,801)	452
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of preference shares - Series A			0	0
Exercise of options and issuance of shares					3	589
Issuance costs of preference shares						0
Net income	101,533							101,391		142
Dividends on preference shares								(24,337)
Dividends on common shares								(33,572)
Dividend paid to noncontrolling interest										(56)
Share-based compensation expense						3,334
Shares repurchased									(66)
Change in net unrealized gains on investment							43,851
Foreign currency translation adjustment	25,592						25,658			(66)
Ending balance at Dec. 31, 2014	$ 1,241,166	$ 315,000			$ 739	$ 578,445	$ 95,293	$ 255,084	$ (3,867)	$ 472

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Cash flows from operating activities
Net income	$ 101,533	$ 102,856	$ 50,261
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization of intangibles	4,821	5,151	6,258
Net realized gains on investment	(1,163)	(3,585)	(1,907)
Net impairment losses recognized in earnings	2,364	0	0
Foreign exchange and other gains	(4,150)	(2,809)	(1,638)
Amortization of share-based compensation expense, bond premium and discount and subordinated debt discount, net	35,498	13,925	10,949
Changes in assets - (increase) decrease:
Reinsurance balances receivable, net	34,343	(31,051)	(98,987)
Reinsurance recoverable on unpaid losses	8,078	26,821	(90,567)
Accrued investment income	(2,693)	(4,141)	(7,719)
Deferred commission and other acquisition expenses	(69,217)	(34,118)	(22,073)
Other assets	32,060	(131)	(15,704)
Changes in liabilities - increase (decrease):
Reserve for loss and loss adjustment expenses	354,014	206,783	337,348
Unearned premiums	182,602	96,040	103,796
Accrued expenses and other liabilities	(26,511)	(9,494)	49,072
Net cash provided by operating activities	651,579	366,247	319,089
Cash flows from investing activities
Purchases of fixed-maturities – available-for-sale	(778,702)	(1,442,116)	(1,193,768)
Purchases of fixed-maturities – trading and short sales	0	0	(102,073)
Purchases of other investments	(6,698)	(2,135)	(940)
Proceeds from sales of fixed-maturities – available-for-sale	171,216	355,863	142,694
Proceeds from sales of fixed-maturities – trading and short sales	0	0	49,883
Proceeds from maturities and calls of fixed maturities	349,852	448,881	484,091
Proceeds from redemption of other investments	797	400	340
(Increase) decrease in restricted cash and cash equivalents	(207,859)	54,967	(17,432)
Other, net	(490)	146	(341)
Net cash used in investing activities	(471,884)	(583,994)	(637,546)
Cash flows from financing activities
Senior notes issuance, net of issuance costs	0	147,446	96,594
Repayment of junior subordinated debt	(152,500)	0	0
Preference shares issuance, net of issuance costs	0	159,675	145,041
Common share issuance	592	1,776	478
Dividends paid - Maiden common shareholders	(32,079)	(19,607)	(29,630)
Dividends paid - preference shares	(24,337)	(14,834)	(3,644)
Net cash (used in) provided by financing activities	(208,324)	274,456	208,839
Effect of exchange rate changes on foreign currency cash	(3,085)	1,581	3,079
Net (decrease) increase in cash and cash equivalents	(31,714)	58,290	(106,539)
Cash and cash equivalents, beginning of period	139,833	81,543	188,082
Cash and cash equivalents, end of period	108,119	139,833	81,543
Supplemental information on cash flows
Interest paid	34,222	38,219	36,219
Taxes paid	708	634	55
Supplemental information about non cash investing and financing activities
Acquisition of fixed maturities, available-for-sale	0	23,478	0
Other assets	$ 0	$ (23,478)	$ 0

Organization	12 Months Ended
Organization	Dec. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization Maiden Holdings, Ltd. (sometimes referred to as "Maiden Holdings" or "Parent Company") is a Bermuda-based holding company formed in June 2007, primarily focused on serving the needs of regional and specialty insurers in the United States and Europe by providing innovative reinsurance solutions designed to support their capital needs. Together with its subsidiaries (collectively referred to as the "Company", "We" or "Maiden"), Maiden specializes in reinsurance solutions that optimize financing by providing coverage within the more predictable and actuarially credible lower layers of coverage and/or reinsure risks that are believed to be lower hazard, more predictable and generally not susceptible to catastrophe claims. Our tailored solutions include a variety of value added services focused on helping our clients grow and prosper. We provide reinsurance through our wholly owned subsidiaries, Maiden Reinsurance Ltd. ("Maiden Bermuda", formerly known as Maiden Insurance Company Ltd.) and Maiden Reinsurance North America, Inc. ("Maiden US", formerly known as Maiden Reinsurance Company) and have operations in Bermuda and the United States, respectively. Maiden Bermuda does not underwrite any direct insurance business. Internationally, we provide reinsurance-related services through Maiden Global Holdings, Ltd. ("Maiden Global") and its subsidiaries. Maiden Global primarily focuses on providing branded auto and credit life insurance products through its insurer partners to retail clients in the European Union and other global markets, which also produce reinsurance programs which are underwritten by Maiden Bermuda. Certain international credit life business is also written on a primary basis by Maiden Life Försäkrings AB ("Maiden LF"), a wholly owned subsidiary of Maiden Holdings, as part of Maiden Global’s service offerings.

Significant Accounting Policies

12 Months Ended

Dec. 31, 2014

Accounting Policies [Abstract]

Significant Accounting Policies

Basis of Reporting and Consolidation — These Consolidated Financial Statements of the Company have been prepared in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP") and include the accounts of Maiden Holdings and all of its subsidiaries. These Consolidated Financial Statements reflect all adjustments that are, in the opinion of management, necessary for a fair presentation of the results for the period and all such adjustments are of a normal recurring nature. All significant intercompany transactions and accounts have been eliminated.

Certain prior year comparatives have been reclassified to conform to the current year presentation. In the third quarter of 2014, the Company revised the structure of its reportable segments following a review which concluded that the former segment, NGHC Quota Share, currently in run-off, no longer meets the reportable segment criteria under Accounting Standards Codification ("ASC") 280 Segment Reporting. As a result, the Company determined that it no longer requires separate disclosure of the NGHC Quota Share as a reportable segment. Furthermore, it was concluded that the remnants of the excess and surplus ("E&S") business, which is also in run-off, no longer meets the aggregation criteria under ASC 280 Segment Reporting and therefore is no longer aggregated with the other operating segments of the Diversified Reinsurance reportable segment. Due to these presentation revisions, the results of operations of the former NGHC Quota Share segment and the remnants of the E&S business have been included in "Other" category, and all prior periods presented herein have been reclassified to conform with the current year presentation.

Estimates — The preparation of U.S. GAAP Consolidated Financial Statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the Consolidated Financial Statements and the reported amounts of revenues and expenses during the reporting period. Actual results could materially differ from those estimates. The significant estimates include, but are not limited to:


•	reserve for loss and loss adjustment expenses;


•	recoverability of deferred commission and other acquisition expenses;


•	determination of impairment of goodwill and other intangible assets;


•	valuation of financial instruments; and


•	determination of other-than-temporary impairment of investments.

Investments — The Company currently classifies all of its fixed maturity investments as "available-for-sale" ("AFS") and, accordingly, they are carried at estimated fair value. The fair value of fixed maturity securities is generally determined from quotations received from nationally recognized pricing services, or when such prices are not available, by reference to broker or underwriter bid indications. Short-term investments comprise securities due to mature within one year of the date of purchase.

2. Significant Accounting Policies (continued)

The Company's other investments comprise both quoted and unquoted investments. The Company's quoted equity investment is based on a quoted market price from a third party, a nationally recognized pricing service provider ("Pricing Service"), reflecting the closing price quoted for the final trading day of the period. The Company accounts for its unquoted other investments at fair value in accordance with Financial Accounting Standards Board ("FASB") ASC Topic 944, "Financial Services" ("ASC 944"). Unquoted other investments primarily comprise investments in limited partnerships which are reported at fair value based on the financial information received from the fund managers and other information available to management.

Unrealized gains or losses on fixed maturities and other investments are reported as a component of accumulated other comprehensive income (loss) ("AOCI").

Purchases and sales of investments are recorded on a trade date basis. Realized gains or losses on sales of investments are determined based on the first in first out cost method. Net investment income is recognized when earned and includes interest and dividend income together with amortization of market premiums and discounts using the effective yield method and is net of investment management fees and other expenses. For mortgage-backed securities ("MBS") and any other holdings for which there is a prepayment risk, prepayment assumptions are evaluated and revised as necessary. Any adjustments required due to the change in effective yields and maturities are recognized on a prospective basis through yield adjustments.

A security is potentially impaired when its fair value is below its amortized cost. On a quarterly basis, we review all impaired AFS securities to determine if the impairment is other than temporary impairment ("OTTI"). OTTI assessments are inherently judgmental, especially where securities have experienced severe declines in fair value in a short period. Our review process begins with a quantitative analysis to identify securities to be further evaluated for potential OTTI. For all identified securities, further fundamental analysis is performed that considers, but not limited to, the following quantitative and qualitative factors:


•	Historic and implied volatility of the security;


•	Length of time and extent to which the fair value has been less than amortized cost;


•	Adverse conditions specifically related to the security or to specific conditions in an industry or geographic area;


•	Failure, if any, of the issuer of the security to make scheduled payments; and


•	Recoveries or additional declines in fair value subsequent to the balance sheet date.

The Company recognizes OTTI in earnings for its impaired AFS fixed maturity securities (i) for which the Company has the intent to sell the security or (ii) it is more likely than not that the Company will be required to sell the debt security before its anticipated recovery and (iii) for those securities which have a credit loss. In assessing whether a credit loss exists, the Company compares the present value of the cash flows expected to be collected from the security with the amortized cost basis of the security. In instances in which a determination is made that an impairment exists but the Company does not intend to sell the security and it is not more likely than not that the Company will be required to sell the security before the anticipated recovery of its remaining amortized cost basis, the impairment is separated into (i) the amount of the total impairment related to the credit loss and (ii) the amount of the total impairment related to all other factors. The amount of the total OTTI related to the credit loss is recognized in earnings. The amount of the total OTTI related to all other factors is recognized in other comprehensive income. In periods after the recognition of OTTI on the Company’s AFS fixed maturity securities, the Company accounts for such securities as if they had been purchased on the measurement date of the OTTI at an amortized cost basis equal to the previous amortized cost basis less the OTTI recognized in earnings. For fixed maturity securities in which OTTI was recognized in earnings, the difference between the new amortized cost basis and the cash flows expected to be collected will be amortized into net investment income.

As our AFS investment portfolio is the largest component of our consolidated assets, OTTI on our AFS fixed maturity securities could be material to our financial condition and operating results particularly during periods of dislocation in the financial markets.

Fair Value Measurements — ASC Topic 820, "Fair Value Measurements and Disclosures" ("ASC 820") defines fair value as the price that would be received upon the sale of an asset or paid to transfer a liability (i.e. the "exit price") in an orderly transaction between open market participants at the measurement date. Additionally, ASC 820 establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. The hierarchy is broken down into three levels based on the reliability of inputs as follows:

•

Level 1 — Valuations based on unadjusted quoted market prices for identical assets or liabilities that we have the ability to access. Valuation adjustments and block discounts are not applied to Level 1 instruments. Since valuations are based on quoted prices that are readily and regularly available in an active market, valuation of these products does not entail a significant degree of judgment. Examples of assets and liabilities utilizing Level 1 inputs include: exchange-traded equity securities, U.S. Treasury bonds, and listed derivatives that are actively traded;

2. Significant Accounting Policies (continued)

•

Level 2 — Valuations based on quoted prices for similar assets or liabilities in active markets, quoted prices for identical assets or liabilities in inactive markets, or valuations based on models where the significant inputs are observable (e.g. interest rates, yield curves, prepayment speeds, default rates, loss severities, etc.) or can be corroborated by observable market data. Examples of assets and liabilities utilizing Level 2 inputs include: U.S. government-sponsored agency securities; non-U.S. government and supranational obligations; corporate and municipal bonds; MBS and asset-backed securities ("ABS"); and


•	Level 3 — Valuations based on models where significant inputs are not observable. The unobservable inputs reflect our own assumptions about assumptions that market participants would use. Examples of assets and liabilities utilizing Level 3 inputs include: insurance and reinsurance derivative contracts; and hedge and credit funds with partial transparency.

The availability of observable inputs can vary from financial instrument to financial instrument and is affected by a wide variety of factors, including, for example, the type of financial instrument, whether the financial instrument is new and not yet established in the marketplace, and other characteristics particular to the transaction. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires significantly more judgment. Accordingly, the degree of judgment exercised by management in determining fair value is greatest for instruments categorized in Level 3. We use prices and inputs that are current as of the measurement date. In periods of market dislocation, the observability of prices and inputs may be reduced for many instruments. This condition could cause an instrument to be reclassified between levels.

For investments that have quoted market prices in active markets, the Company uses the quoted market prices as fair value and includes these prices in the amounts disclosed in the Level 1 hierarchy. The Company receives the quoted market prices the Pricing Service. When quoted market prices are unavailable, the Company utilizes the Pricing Service to determine an estimate of fair value. The fair value estimates are included in the Level 2 hierarchy. The Company will challenge any prices for its investments which are considered not to be representation of fair value. If quoted market prices and an estimate from the Pricing Service are unavailable, the Company produces an estimate of fair value based on dealer quotations for recent activity in positions with the same or similar characteristics to that being valued or through consensus pricing of a pricing service. The Company determines whether the fair value estimate is in the Level 2 or Level 3 hierarchy depending on the level of observable inputs available when estimating the fair value. The Company bases its estimates of fair values for assets on the bid price as it represents what a third party market participant would be willing to pay in an orderly transaction.

Cash and Cash Equivalents — The Company maintains its cash accounts in several banks and brokerage institutions. Cash equivalents consist of investments in money market funds and short-term investments with an original maturity of 90 days or less and are stated at cost, which approximates fair value. Restricted cash and cash equivalents are separately reported in the Consolidated Balance Sheets. Accordingly, changes in restricted cash and cash equivalents are reported as an investing activity in our Consolidated Statements of Cash Flows. The Company maintains certain cash and investments in trust accounts to be used primarily as collateral for unearned premiums and loss and loss adjustment expenses reserves owed to insureds. The Company is required to maintain minimum balances in these accounts based on pre-determined formulas. See "Note 4. (e) Investments" for additional details.

Premiums and Related Expenses — For pro-rata contracts and excess-of-loss contracts where no deposit or minimum premium is specified in the contract, written premium is recognized based on estimates of ultimate premiums provided by the ceding companies. Initial estimates of written premium are recognized in the period in which the underlying risks are incepted. Subsequent adjustments, based on reports of actual premium by the ceding companies, or revisions in estimates, are recorded in the period in which they are determined. Reinsurance premiums assumed are generally earned on a pro-rata basis over the terms of the underlying policies or reinsurance contracts. Contracts and policies written on a "losses occurring" basis cover claims that may occur during the term of the contract or policy, which is typically 12 months. Accordingly, the premium is earned evenly over the term. Contracts which are written on a "risks attaching" basis cover claims which attach to the underlying insurance policies written during the terms of such contracts. Premiums earned on such contracts usually extend beyond the original term of the reinsurance contract, typically resulting in recognition of premiums earned over a 24-month period. Reinsurance premiums on specialty risk and extended warranty are earned based on the estimated program coverage period. These estimates are based on the expected distribution of coverage periods by contract at inception, because a single contract may contain multiple coverage period options, and these estimates are revised based on the actual coverage period selected by the original insured. Unearned premiums represent the portion of premiums written which is applicable to the unexpired term of the contract or policy in force. These premiums can be subject to estimates based upon information received from ceding companies and any subsequent differences arising on such estimates are recorded in the period in which they are determined.

The unearned portion of reinsurance purchased by the Company (retrocession or reinsurance premiums ceded) is reported as prepaid reinsurance premiums and amortized over the contract period in proportion to the amount of insurance protection provided. The ultimate amount of premiums, including adjustments, is recognized as premiums ceded, and amortized over the applicable contract period to which they apply. Reserves are established for the unexpensed portion of premiums ceded and losses recoverable are recorded as an asset called reinsurance recoverable on unpaid losses. Premiums earned are reported net of reinsurance in the Consolidated Statements of Income.

Assumed and ceded reinsurance contracts that lack a significant transfer of risk are treated as deposits.

2. Significant Accounting Policies (continued)

Acquisition expenses represent the costs of writing business that vary with, and are primarily related to, the production of insurance and reinsurance business. Policy and contract acquisition expenses, including assumed commissions and other direct operating expenses that are related to successful contracts are deferred and recognized as expense as related premiums are earned.

Only certain expenses incurred in the successful acquisition of new and renewal insurance contracts are capitalized. Those expenses include incremental direct costs of contract acquisition that result directly from and are essential to the contract transaction and would not have been incurred had the contract transaction not occurred. All other acquisition-related expenses, such as costs incurred for soliciting business, administration, and unsuccessful acquisition or renewal efforts are charged to expense as incurred. Administrative expenses, including rent, depreciation, occupancy, equipment, and all other general overhead expenses are considered indirect and are expensed as incurred.

The Company considers anticipated investment income in determining the recoverability of these costs and believes they are fully recoverable. A premium deficiency is recognized if the sum of anticipated losses and loss adjustment expenses, unamortized acquisition expenses and anticipated investment income exceed unearned premium.

Loss and Loss Adjustment Expenses Incurred — Loss and loss adjustment expenses ("LAE") represent the estimated ultimate net costs of all reported and unreported losses incurred through December 31. The reserve for loss and LAE is estimated using individual case-basis valuations and statistical analysis and is not discounted. Although considerable variability is inherent in the estimates of reserves for loss and LAE, management believes that the reserve for loss and LAE is adequate. In estimating reserves, the Company utilizes a variety of standard actuarial methods. The estimates are continually reviewed and adjusted as necessary as experience develops or new information becomes known. Such adjustments are included in current operations.

Debt Obligations and Deferred Debt Issuance Costs — Costs incurred in issuing debt are capitalized and amortized over the life of the debt. The amortization of these costs is included in interest expense in the Consolidated Statements of Income.

Business Combinations, Goodwill and Intangible Assets — A purchase price that is in excess of the fair value of the net assets acquired arising from a business combination is recorded as goodwill, and is not amortized. Other intangible assets with a finite life are amortized over the estimated useful life of the asset. Other intangible assets with an indefinite useful life are not amortized.

Goodwill and other indefinite life intangible assets are tested for impairment on an annual basis or more frequently if events or changes in circumstances indicate that the carrying amount may not be recoverable. Definite life intangible assets are reviewed for indicators of impairment on an annual basis or more frequently if events or changes in circumstances indicate that the carrying amount may not be recoverable, and tested for impairment if appropriate. For purposes of the annual impairment evaluation, goodwill is assigned to the applicable reporting unit of the acquired entities giving rise to the goodwill.

The Company has established October 1 as the date for performing its annual impairment tests. If goodwill or other intangible assets are impaired, they are written down to their estimated fair values with a corresponding loss reflected in the Company’s Consolidated Statements of Income.

Noncontrolling Interests — The Company accounts for its noncontrolling interests in accordance with ASC Topic 810 "Consolidations", and presents such noncontrolling shareholders' interest in the equity section of the Company’s Consolidated Balance Sheets. Net income (loss) attributable to noncontrolling interests is presented separately in the Company’s Consolidated Statements of Income.

Income Taxes — The Company accounts for income taxes using ASC Topic 740 "Income Taxes" for its subsidiaries operating in taxable jurisdictions. Deferred income taxes reflect the expected future tax consequences of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and amounts used for income tax purposes. A valuation allowance is recorded if it is more likely than not that some or all of a deferred tax asset may not be realized. The Company considers future taxable income and feasible tax planning strategies in assessing the need for a valuation allowance. In the event the Company determines that it will not be able to realize all or part of its deferred income tax assets in the future, an adjustment to the deferred income tax assets would be charged to income in the period in which such determination is made. In addition, if the Company subsequently assesses that the valuation allowance is no longer needed, a benefit would be recorded to income in the period in which such determination is made. U.S. GAAP allows for the recognition of tax benefits of uncertain tax positions only where the position is more likely than not to be sustained assuming examination by tax authorities. A liability is established for any tax benefit claimed in a tax return in excess of this threshold. Income tax related interest and penalties would be included as income tax expense. The Company has not recorded any interest or penalties during the years ended December 31, 2014, 2013 and 2012 and the Company has not accrued any payment of interest and penalties at December 31, 2014 and 2013.

Share-Based Compensation Expense — The Company is authorized to issue restricted share awards and units, performance based restricted share units ("PB-RSUs"), share options and other equity-based awards to its employees and directors. The Company recognizes the compensation expense for share options, restricted share and share unit grants, based on the fair value of the award on the date of grant, over the vesting period, which is the requisite service period. The fair value of the grant will be amortized ratably over its vesting period as a charge to compensation expense (a component of salaries and benefits) and an increase to additional paid in capital in Shareholders’ Equity.

2. Significant Accounting Policies (continued)

The fair value of the PB-RSUs is recognized as a charge to compensation expense and an increase to additional paid in capital in Shareholders’ Equity following certain criteria such as operating return on common equity, underwriting performance, revenue growth and operating expense being met during the specified performance period as well as based on the recommendation of the Company's Chief Executive Officer ("CEO") and the discretion of the Compensation Committee of the Board of Directors.

Earnings Per Share — Basic earnings per share are computed based on the weighted-average number of common shares outstanding and exclude any dilutive effects of options and restricted share units ("RSUs"). Dilutive earnings per share are computed using the weighted-average number of common shares outstanding during the period adjusted for the dilutive impact of share options, RSUs, PB-RSUs and the mandatory convertible preference shares using the if-converted method.

The two-class method is used to determine earnings per share based on dividends declared on common shares and participating securities (i.e. distributed earnings) and participation rights of participating securities in any undistributed earnings. Each unvested restricted share granted by the Company to certain senior leaders is considered a participating security and the Company uses the two-class method to calculate its net income (loss) attributable to Maiden common shareholders per common share – basic and diluted.

Treasury Shares — Treasury shares are common shares repurchased by the Company and not subsequently cancelled. These shares are recorded at cost and result in a reduction of our shareholders’ equity in the Consolidated Balance Sheets.

Foreign Currency Transactions — The functional currency of the Company and many of its subsidiaries is the U.S. dollar. For these companies, we translate monetary assets and liabilities denominated in foreign currencies at year-end exchange rates, with the resulting foreign exchange gains and losses recognized in the Consolidated Statements of Income. Revenues and expenses in foreign currencies are converted at average exchange rates during the year. Monetary assets and liabilities include investments, cash and cash equivalents, reinsurance balances receivable, reserve for loss and LAE and accrued expenses and other liabilities. Accounts that are classified as non-monetary, such as deferred commission and other acquisition expenses and unearned premiums, are not revalued.

Assets and liabilities of subsidiaries and divisions, whose functional currency is not the U.S. dollar, are translated at year-end exchange rates. Revenues and expenses of these entities are translated at average exchange rates during the year. The effects of the translation adjustments for foreign entities are included in AOCI. The amount of cumulative translation adjustment at December 31, 2014 was $16,714 (2013 - $(8,944)).

Recently Adopted Accounting Standards Updates

Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carry-forward, a Similar Tax Loss, or a Tax Credit Carry-forward Exists

On July 18, 2013, the FASB issued Accounting Standards Update ("ASU") 2013-11 which provides guidance on the presentation of an unrecognized tax benefit when a net operating loss ("NOL") carry-forward, a similar tax loss, or a tax credit carry-forward exists. Under this ASU, an entity must present an unrecognized tax benefit, or a portion of an unrecognized tax benefit, as a reduction to a deferred tax asset for a NOL carry-forward, similar tax loss, or a tax credit carry-forward. There are two exceptions to this form of presentation as follows:


•	To the extent a NOL carry-forward, a similar tax loss, or a tax credit carry-forward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position; and


•	The entity does not intend to use the deferred tax asset for this purpose.

If either of these conditions exists, an entity should present an unrecognized benefit in the financial statements as a liability and should not net the unrecognizable tax benefit with a deferred tax asset.

The amendments in this update are effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. The update was adopted effective January 1, 2014. The adoption of this guidance did not have an impact on our results of operations, financial condition or liquidity.

Parent's Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity

In March 2013, FASB issued ASU 2013-05 with the objective of resolving the diversity about whether ASC 810-10, Consolidation - Overall, or ASC 830-30, Foreign Currency Matters - Translation of Financial Statements, applies to the release of the cumulative translation adjustment into net income when a parent either sells a part or all of its investment in a foreign entity or no longer holds a controlling financial interest in a subsidiary or group of assets that is a nonprofit activity or a business (other than a sale of in substance real estate or conveyance of oil and gas mineral rights) within a foreign entity.

2. Significant Accounting Policies (continued)

Under this guidance, when a reporting entity that is also the parent entity, ceases to have a controlling financial interest in a subsidiary or group of assets that is a nonprofit activity or a business (other than a sale of in substance real estate or conveyance of oil and gas mineral rights) within a foreign entity, the parent is required to apply the guidance in ASC 830-30 to release any related cumulative translation adjustment into net income.

Accordingly, the cumulative translation adjustment should be released into net income only if the sale or transfer results in the complete or substantially complete liquidation of the foreign entity in which the subsidiary or group of assets had resided. Additionally, for an equity method investment that is a foreign entity, the partial sale guidance in ASC 830-30-40 continues to be applicable. As such, a pro rata portion of the cumulative translation adjustment should be released into net income upon a partial sale of such an equity method investment. However, this treatment does not apply to an equity method investment that is not a foreign entity. In those instances, the cumulative translation adjustment is released into net income only if the partial sale represents a complete or substantially complete liquidation of the foreign entity that contains the equity method investment.

Furthermore, the amendments in this ASU clarify that the sale of an investment in a foreign entity includes both: (1) events that result in the loss of a controlling financial interest in a foreign entity (that is, irrespective of any retained investment); and (2) events that result in an acquirer obtaining control of an acquiree in which it held an equity interest immediately before the acquisition date (sometimes also referred to as a step acquisition). Accordingly, the cumulative translation adjustment should be released into net income upon the occurrence of those events.

The amendments in this ASU are effective prospectively for fiscal years (and interim reporting periods within those years) beginning after December 15, 2013. The update was adopted effective January 1, 2014. The adoption of this guidance did not have an impact on our results of operations, financial condition or liquidity.

Recently Issued Accounting Standards Not Yet Adopted

Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity

On April 10, 2014, the FASB issued ASU 2014-08, which amends the definition of a discontinued operation in ASC 205-20 and requires entities to provide additional disclosures about disposal transactions that both meet and do not meet the discontinued-operations criteria. Under the previous guidance, the results of operations of a component of an entity were classified as a discontinued operation if all of the following conditions were met:


•	The component has been disposed of or is classified as held for sale;


•	The operations and cash flows of the component have been (or will be) eliminated from the ongoing operations of the entity as a result of the disposal transaction; and


•	The entity will not have any significant continuing involvement in the operations of the component after the disposal transaction.

The revised guidance will change how entities identify disposal transactions under U.S. GAAP by eliminating the second and third criteria above for classifying operations as discontinued. The new guidance instead requires classification of a component or group of components as discontinued operations if it represents a strategic shift that has or will have a major impact on an entity’s operations or financial results.

The amendments in this ASU are effective prospectively to all disposals (or classifications as held for sale) that occur in annual periods (and interim periods therein) beginning on or after December 15, 2014. Early adoption is permitted. Entities are prohibited from applying the new ASU to any component that is classified as held for sale before the adoption date. The Company is currently evaluating the impact of the adoption of this new guidance on its consolidated results of operations and financial condition.

Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period

On June 19, 2014, FASB issued ASU 2014-12 to clarify how entities should treat performance targets that can be met after the requisite service period of a share-based payment award. The ASU states that the share-based payment award should be treated as a performance condition that affects vesting and therefore, an entity would not record compensation expense (measured as of the grant date without taking into account the effect of the performance target) related to an award for which transfer to the employee is contingent on the entity’s satisfaction of a performance target until it becomes probable that the performance target will be met. No new disclosures are required under the ASU.

2. Significant Accounting Policies (continued)

ASU 2014-12 is effective for annual reporting periods (including interim reporting periods within those periods) beginning after December 15, 2015. Early adoption is permitted. In addition, all entities will have the option of applying the guidance either prospectively (i.e. only to awards granted or modified on or after the effective date of the issue) or retrospectively. Retrospective application would only apply to awards with performance targets outstanding at or after the beginning of the first annual period presented (i.e. the earliest presented comparative period). The adoption of this guidance is not expected to have an impact on our results of operations, financial condition or liquidity.

- Definition

The entire disclosure for all significant accounting policies of the reporting entity.

+ References+ Details

Segment Information

12 Months Ended

Dec. 31, 2014

Segment Reporting [Abstract]

Segment Information

The Company currently has two reportable segments: Diversified Reinsurance and AmTrust Reinsurance (previously titled AmTrust Quota Share Reinsurance segment). During the year ended December 31, 2014, the Company revised the structure of its reportable segments. Please refer to "Notes to Consolidated Financial Statements, Note 2. Significant Accounting Policies" for a discussion on the revised structure of the Company's segments.

The Company evaluates segment performance separately from the results of our investment portfolio. Other operating expenses allocated to the segments are called General and Administrative expenses which are allocated on an actual basis except salaries and benefits where management’s judgment is applied. The Company does not allocate general corporate expenses to the segments. In determining total assets by reportable segment, the Company identifies those assets that are attributable to a particular segment such as reinsurance balances receivable, reinsurance recoverable on unpaid losses, deferred commission and other acquisition expenses, loans, goodwill and intangible assets, restricted cash and cash equivalents and investments, and prepaid reinsurance premiums, reinsurance recoverable on paid losses and funds withheld (which are presented as part of other assets in the Consolidated Balance Sheets). All remaining assets are allocated to Corporate.

Fee-generating business is considered part of the underwriting operations of the Company and is separately reported on the line captioned "Other insurance revenue" in the Consolidated Statements of Income. To the extent that the fees are earned on underlying insurance contracts sold to third parties that are also ceded under quota share reinsurance contracts with Maiden Bermuda, a proportionate share of the fee is offset against the related acquisition expense.

3. Segment Information (continued)

The following tables summarize our reporting segment's underwriting results and the reconciliation of our reportable segments and Other category's underwriting results to our consolidated net income:



For the Year Ended December 31, 2014	Diversified Reinsurance			AmTrust Reinsurance			Other			Total
Net premiums written	$	850,049		$	1,610,485		$	(2,398	)	$	2,458,136
Net premiums earned	$	854,026		$	1,378,327		$	19,390		$	2,251,743
Other insurance revenue	13,410			—			—			13,410
Net loss and loss adjustment expenses	(579,771		)	(893,502		)	(24,998		)	(1,498,271		)
Commission and other acquisition expenses	(233,711		)	(418,908		)	(6,696		)	(659,315		)
General and administrative expenses	(42,914		)	(2,098		)	(757		)	(45,769		)
Underwriting income (loss)	$	11,040		$	63,819		$	(13,061	)	61,798
Reconciliation to net income
Net investment income and realized gains on investment										118,378
Net impairment losses recognized in earnings										(2,364		)
Amortization of intangible assets										(3,277		)
Foreign exchange and other gains										4,150
Interest and amortization expenses										(29,580		)
Accelerated amortization of junior subordinated debt discount and issuance cost										(28,240		)
Other general and administrative expenses										(17,168		)
Income tax expense										(2,164		)
Net income										$	101,533

Net loss and loss adjustment expense ratio*	66.8		%	64.8		%	128.9		%	66.1		%
Commission and other acquisition expense ratio**	26.9		%	30.4		%	34.5		%	29.1		%
General and administrative expense ratio***	5.0		%	0.2		%	4.0		%	2.8		%
Combined ratio****	98.7		%	95.4		%	167.4		%	98.0		%

3. Segment Information (continued)



For the Year Ended December 31, 2013	Diversified Reinsurance			AmTrust Reinsurance			Other			Total
Net premiums written	$	763,374		$	1,169,961		$	162,966		$	2,096,301
Net premiums earned	$	753,157		$	988,900		$	258,830		$	2,000,887
Other insurance revenue	14,232			—			—			14,232
Net loss and loss adjustment expenses	(519,962		)	(653,528		)	(176,140		)	(1,349,630		)
Commission and other acquisition expenses	(190,604		)	(291,559		)	(74,415		)	(556,578		)
General and administrative expenses	(42,331		)	(1,992		)	(707		)	(45,030		)
Underwriting income	$	14,492		$	41,821		$	7,568		63,881
Reconciliation to net income
Net investment income and realized gains on investment										94,937
Amortization of intangible assets										(3,780		)
Foreign exchange and other gains										2,809
Interest and amortization expenses										(39,497		)
Other general and administrative expenses										(13,631		)
Income tax expense										(1,863		)
Net income										$	102,856

Net loss and loss adjustment expense ratio*	67.8		%	66.1		%	68.1		%	67.0		%
Commission and other acquisition expense ratio**	24.8		%	29.5		%	28.8		%	27.6		%
General and administrative expense ratio***	5.5		%	0.2		%	0.2		%	2.9		%
Combined ratio****	98.1		%	95.8		%	97.1		%	97.5		%

3. Segment Information (continued)



For the Year Ended December 31, 2012	Diversified Reinsurance			AmTrust Reinsurance			Other			Total
Net premiums written	$	745,679		$	840,348		$	315,258		$	1,901,285
Net premiums earned	$	775,177		$	727,783		$	300,820		$	1,803,780
Other insurance revenue	12,890			—			—			12,890
Net loss and loss adjustment expenses	(549,405		)	(496,370		)	(216,573		)	(1,262,348		)
Commission and other acquisition expenses	(205,307		)	(200,547		)	(86,177		)	(492,031		)
General and administrative expenses	(40,951		)	(1,949		)	(737		)	(43,637		)
Underwriting (loss) income	$	(7,596	)	$	28,917		$	(2,667	)	18,654
Reconciliation to net income
Net investment income and realized gains on investment										83,095
Amortization of intangible assets										(4,362		)
Foreign exchange and other gains										1,638
Interest and amortization expenses										(36,384		)
Other general and administrative expenses										(10,167		)
Income tax expense										(2,213		)
Net income										$	50,261

Net loss and loss adjustment expense ratio*	69.7		%	68.2		%	72.0		%	69.5		%
Commission and other acquisition expense ratio**	26.1		%	27.5		%	28.6		%	27.1		%
General and administrative expense ratio***	5.2		%	0.3		%	0.3		%	2.9		%
Combined ratio****	101.0		%	96.0		%	100.9		%	99.5		%


*	Calculated by dividing net loss and LAE by the sum of net premiums earned and other insurance revenue.


**	Calculated by dividing commission and other acquisition expenses by the sum of net premiums earned and other insurance revenue.


***	Calculated by dividing general and administrative expenses by the sum of net premiums earned and other insurance revenue.


****	Calculated by adding together net loss and loss adjustment expense ratio, commission and other acquisition expense ratio and general and administrative expense ratio.

3. Segment Information (continued)

The following tables summarize the financial position of our reportable segments including the reconciliation to our consolidated assets at December 31, 2014 and 2013:



December 31, 2014	Diversified Reinsurance		AmTrust Reinsurance		Total
Reinsurance balances receivable, net	$	245,782	$	256,779	$	502,561
Reinsurance recoverable on unpaid losses	31,272		—		31,272
Deferred commission and other acquisition expenses	87,289		285,232		372,521
Loan to related party	—		167,975		167,975
Goodwill and intangible assets, net	87,336		—		87,336
Restricted cash and cash equivalents and investments	1,132,953		1,930,502		3,063,455
Other assets	40,032		—		40,032
Total assets - reportable segments	1,624,664		2,640,488		4,265,152
Corporate assets	—		—		898,940
Total Assets	$	1,624,664	$	2,640,488	$	5,164,092

December 31, 2013	Diversified Reinsurance		AmTrust Reinsurance		Total
Reinsurance balances receivable, net	$	261,285	$	278,573	$	539,858
Reinsurance recoverable on unpaid losses	36,696		—		36,696
Deferred commission and other acquisition expenses	88,721		209,439		298,160
Loan to related party	—		167,975		167,975
Goodwill and intangible assets, net	90,613		—		90,613
Restricted cash and cash equivalents and investments	1,025,629		1,102,317		2,127,946
Other assets	61,462		—		61,462
Total assets - reportable segments	1,564,406		1,758,304		3,322,710
Corporate assets	—		—		1,390,669
Total Assets	$	1,564,406	$	1,758,304	$	4,713,379

3. Segment Information (continued)

The following table shows an analysis of the Company’s gross and net premiums written and net premiums earned by geographic location for the years ended December 31, 2014, 2013 and 2012. In case of business assumed from AmTrust Financial Services, Inc. ("AmTrust"), it is the location of the relevant AmTrust subsidiaries.



For the Year Ended December 31,	2014		2013		2012
Gross premiums written – North America	$	1,979,768	$	1,742,333	$	1,575,452
Gross premiums written – Other (predominantly Europe)	527,584		461,826		425,540
Net premiums written – North America	1,934,644		1,638,844		1,481,076
Net premiums written – Other (predominantly Europe)	523,492		457,457		420,209
Net premiums earned – North America	1,778,579		1,602,128		1,413,596
Net premiums earned – Other (predominantly Europe)	473,164		398,759		390,184

The following tables set forth financial information relating to net premiums written by major line of business and reportable segment for the years ended December 31, 2014, 2013 and 2012:



For the Year Ended December 31,	2014					2013				2012
	Total			% of Total		Total		% of Total		Total		% of Total
Net premiums written
Diversified Reinsurance
Property	$	160,308		6.5	%	$	145,292	6.9	%	$	170,513	8.9	%
Casualty	535,518			21.8	%	473,732		22.6	%	433,305		22.8	%
Accident and Health	38,870			1.6	%	35,340		1.7	%	37,244		2.0	%
International	115,353			4.7	%	109,010		5.2	%	104,617		5.5	%
Total Diversified Reinsurance	850,049			34.6	%	763,374		36.4	%	745,679		39.2	%
AmTrust Reinsurance
Small Commercial Business	857,576			34.9	%	572,006		27.3	%	364,123		19.2	%
Specialty Program	220,121			8.9	%	157,578		7.5	%	95,904		5.0	%
Specialty Risk and Extended Warranty	532,788			21.7	%	440,377		21.0	%	380,321		20.0	%
Total AmTrust Reinsurance	1,610,485			65.5	%	1,169,961		55.8	%	840,348		44.2	%
Other	(2,398		)	(0.1	)%	162,966		7.8	%	315,258		16.6	%
	$	2,458,136		100.0	%	$	2,096,301	100.0	%	$	1,901,285	100.0	%

3. Segment Information (continued)

The following tables set forth financial information relating to net premiums earned by major line of business and reportable segment for the years ended December 31, 2014, 2013 and 2012:



For the Year Ended December 31,	2014				2013				2012
	Total		% of Total		Total		% of Total		Total		% of Total
Net premiums earned
Diversified Reinsurance
Property	$	174,785	7.7	%	$	150,261	7.5	%	$	191,835	10.6	%
Casualty	533,775		23.7	%	472,095		23.6	%	444,773		24.7	%
Accident and Health	39,918		1.8	%	36,165		1.8	%	41,968		2.3	%
International	105,548		4.7	%	94,636		4.7	%	96,601		5.4	%
Total Diversified Reinsurance	854,026		37.9	%	753,157		37.6	%	775,177		43.0	%
AmTrust Reinsurance
Small Commercial Business	752,188		33.4	%	493,774		24.7	%	313,110		17.3	%
Specialty Program	175,286		7.8	%	140,478		7.0	%	85,814		4.8	%
Specialty Risk and Extended Warranty	450,853		20.0	%	354,648		17.7	%	328,859		18.2	%
Total AmTrust Reinsurance	1,378,327		61.2	%	988,900		49.4	%	727,783		40.3	%
Other	19,390		0.9	%	258,830		13.0	%	300,820		16.7	%
	$	2,251,743	100.0	%	$	2,000,887	100.0	%	$	1,803,780	100.0	%

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 32

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Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 10

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 26

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 29

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

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+ Details

Investments

12 Months Ended

Dec. 31, 2014

Schedule of Investments [Abstract]

Investments

a) Fixed Maturities and Other Investments

The original or amortized cost, estimated fair value and gross unrealized gains and losses of AFS fixed maturities and other investments at December 31, 2014 and 2013, are as follows:



December 31, 2014	Original or amortized cost		Gross unrealized gains		Gross unrealized losses			Fair value
AFS fixed maturities:
U.S. treasury bonds	$	8,937	$	423	$	—		$	9,360
U.S. agency bonds – mortgage-backed	1,313,834		19,197		(10,588		)	1,322,443
U.S. agency bonds – other	7,213		775		—			7,988
Non-U.S. government and supranational bonds	54,467		304		(3,128		)	51,643
Other mortgage-backed securities	52,337		2,443		—			54,780
Corporate bonds	1,831,431		89,243		(25,295		)	1,895,379
Municipal bonds - other	62,153		3,666		—			65,819
Short-term investments	49,492		—		—			49,492
Total AFS fixed maturities	3,379,864		116,051		(39,011		)	3,456,904
Other investments	10,862		1,709		—			12,571
Total investments	$	3,390,726	$	117,760	$	(39,011	)	$	3,469,475

4. Investments (continued)



December 31, 2013	Original or amortized cost		Gross unrealized gains		Gross unrealized losses			Fair value
AFS fixed maturities:
U.S. treasury bonds	$	16,622	$	587	$	—		$	17,209
U.S. agency bonds – mortgage-backed	1,292,032		11,727		(41,104		)	1,262,655
U.S. agency bonds – other	7,207		901		—			8,108
Non-U.S. government and supranational bonds	70,377		3,547		(712		)	73,212
Other mortgage-backed securities	33,676		—		(232		)	33,444
Corporate bonds	1,546,578		82,952		(22,830		)	1,606,700
Municipal bonds - auction rate	99,170		—		—			99,170
Municipal bonds - other	62,130		934		(1,495		)	61,569
Total AFS fixed maturities	3,127,792		100,648		(66,373		)	3,162,067
Other investments	4,522		570		—			5,092
Total investments	$	3,132,314	$	101,218	$	(66,373	)	$	3,167,159

The contractual maturities of our fixed maturities are shown below. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.



December 31, 2014	Amortized cost		Fair value		% of Total fair value
Maturity
Due in one year or less	$	75,844	$	74,563	2.2	%
Due after one year through five years	530,598		563,048		16.3	%
Due after five years through ten years	1,372,071		1,403,395		40.6	%
Due after ten years	35,180		38,675		1.1	%
	2,013,693		2,079,681		60.2	%
U.S. agency bonds - mortgage-backed	1,313,834		1,322,443		38.3	%
Other mortgage-backed securities	52,337		54,780		1.5	%
Total AFS fixed maturities	$	3,379,864	$	3,456,904	100.0	%

The following tables summarize fixed maturities in an unrealized loss position and the aggregate fair value and gross unrealized loss by length of time the security has continuously been in an unrealized loss position:



	Less than 12 Months					12 Months or More					Total
December 31, 2014	Fair value		Unrealized losses			Fair value		Unrealized losses			Fair value		Unrealized losses
AFS fixed maturities:
U.S. agency bonds – mortgage-backed	$	84,264	$	(806	)	$	441,601	$	(9,782	)	$	525,865	$	(10,588	)
Non–U.S. government and supranational bonds	43,712		(2,822		)	2,522		(306		)	46,234		(3,128		)
Corporate bonds	397,173		(14,485		)	143,894		(10,810		)	541,067		(25,295		)
Total temporarily impaired AFS fixed maturities	$	525,149	$	(18,113	)	$	588,017	$	(20,898	)	$	1,113,166	$	(39,011	)

At December 31, 2014, there were approximately 141 securities in an unrealized loss position with a fair value of $1,113,166 and unrealized losses of $39,011. Of these securities, there were 46 securities that have been in an unrealized loss position for 12 months or greater with a fair value of $588,017 and unrealized losses of $20,898.

4. Investments (continued)



	Less than 12 Months					12 Months or More					Total
December 31, 2013	Fair value		Unrealized losses			Fair value		Unrealized losses			Fair value		Unrealized losses
AFS fixed maturities:
U.S. agency bonds – mortgage-backed	$	795,439	$	(38,421	)	$	60,602	$	(2,683	)	$	856,041	$	(41,104	)
Non-U.S. government and supranational bonds	9,946		(712		)	—		—			9,946		(712		)
Other mortgage-backed securities	33,444		(232		)	—		—			33,444		(232		)
Corporate bonds	463,469		(16,687		)	169,294		(6,143		)	632,763		(22,830		)
Municipal bonds - other	50,545		(1,495		)	—		—			50,545		(1,495		)
Total temporarily impaired AFS fixed maturities	$	1,352,843	$	(57,547	)	$	229,896	$	(8,826	)	$	1,582,739	$	(66,373	)

At December 31, 2013, there were approximately 140 securities in an unrealized loss position with a fair value of $1,582,739 and unrealized losses of $66,373. Of these securities, there were 19 securities that have been in an unrealized loss position for 12 months or greater with a fair value of $229,896 and unrealized losses of $8,826.

OTTI

The Company performs quarterly reviews of its AFS fixed maturities in order to determine whether declines in fair value below the amortized cost basis were considered other-than-temporary in accordance with applicable guidance. Based on our qualitative and quantitative OTTI review of each security within our fixed maturity portfolio, during the year ended December 31, 2014, we determined that there was a credit impairment in respect of one corporate bond. The Company does not intend to sell this security, but we do not believe it is probable that we will recover the amortized cost basis of the security. The Company has therefore recognized $2,364 of OTTI through earnings for the year ended December 31, 2014. The Company recognized no OTTI for the years ended December 31, 2013 and 2012.

In respect of the rest of our portfolio, we have determined that the unrealized losses on fixed maturities at December 31, 2014 were primarily due to widening of credit spreads since their date of purchase. Because we do not intend to sell these securities and it is not more likely than not that we will be required to do so until a recovery of fair value to amortized cost, we currently believe it is probable that we will collect all amounts due according to their respective contractual terms. Therefore, we do not consider these fixed maturities to be other-than-temporarily impaired at December 31, 2014.

The following summarizes the credit ratings of our AFS fixed maturities:



Rating* at December 31, 2014	Amortized cost		Fair value		% of Total fair value
U.S. treasury bonds	$	8,937	$	9,360	0.3	%
U.S. agency bonds	1,321,047		1,330,431		38.5	%
AAA	193,280		202,973		5.9	%
AA+, AA, AA-	116,936		120,679		3.5	%
A+, A, A-	883,092		917,544		26.5	%
BBB+, BBB, BBB-	794,244		814,039		23.5	%
BB+ or lower	62,328		61,878		1.8	%
Total	$	3,379,864	$	3,456,904	100.0	%

4. Investments (continued)



Rating* at December 31, 2013	Amortized cost		Fair value		% of Total fair value
U.S. treasury bonds	$	16,622	$	17,209	0.5	%
U.S. agency bonds	1,299,239		1,270,763		40.2	%
AAA	210,872		222,417		7.0	%
AA+, AA, AA-	236,424		242,986		7.7	%
A+, A, A-	619,148		651,248		20.6	%
BBB+, BBB, BBB-	689,532		701,529		22.2	%
BB+ or lower	55,955		55,915		1.8	%
Total	$	3,127,792	$	3,162,067	100.0	%

*Ratings as assigned by Standard & Poor's ("S&P")

b) Other Investments

The table below shows our portfolio of other investments:



December 31,	2014				2013
	Fair value		% of Total fair value		Fair value		% of Total fair value
Investment in limited partnerships	$	5,581	44.4	%	$	4,092	80.4	%
Investment in quoted equity	5,990		47.6	%	—		—	%
Other	1,000		8.0	%	1,000		19.6	%
Total other investments	$	12,571	100.0	%	$	5,092	100.0	%

During the year ended December 31, 2014, the Company invested in a private placement of an insurance company and prior to year-end, these common shares began trading on NASDAQ following a resale registration statement becoming effective.

The Company has a remaining unfunded commitment on its investment in limited partnerships of approximately $736 at December 31, 2014.

c) Net Investment Income

Net investment income was derived from the following sources:



For the Year Ended December 31,	2014			2013			2012
Fixed maturities	$	118,203		$	89,350		$	79,891
Cash and cash equivalents	2,224			3,120			1,439
Funds withheld	246			1,452			1,648
Loan to related party	1,797			1,857			1,945
	122,470			95,779			84,923
Less:
Investment expenses	(5,255		)	(4,427		)	(3,735		)
Total	$	117,215		$	91,352		$	81,188

4. Investments (continued)

d) Realized Gains (Losses) on Investment

Realized gains or losses on the sale of investments are determined on the basis of the first in first out cost method. The following provides an analysis of net realized gains on investment included in the Consolidated Statements of Income:



For the Year Ended December 31, 2014	Gross gains		Gross losses		Net
AFS fixed maturities	$	724	$	—	$	724
Other investments	439		—		439
Net realized gains on investment	$	1,163	$	—	$	1,163



For the Year Ended December 31, 2013	Gross gains		Gross losses			Net
AFS fixed maturities	$	5,598	$	(2,201	)	$	3,397
Other investments	188		—			188
Net realized gains on investment	$	5,786	$	(2,201	)	$	3,585



For the Year Ended December 31, 2012	Gross gains		Gross losses			Net
AFS fixed maturities	$	3,468	$	(13	)	$	3,455
Trading securities and short sales	—		(1,592		)	(1,592		)
Other investments	55		(11		)	44
Net realized gains on investment	$	3,523	$	(1,616	)	$	1,907

Proceeds from sales of fixed maturities classified as AFS were $171,216, $355,863 and $142,694, for the years ended December 31, 2014, 2013 and 2012, respectively.

Net unrealized gains were as follows:



December 31,	2014			2013			2012
AFS fixed maturities	$	77,040		$	34,275		$	143,495
Other investments	1,709			570			302
Total net unrealized gains	78,749			34,845			143,797
Deferred income tax	(170		)	(117		)	(132		)
Net unrealized gains, net of deferred income tax	$	78,579		$	34,728		$	143,665
Change in net unrealized gains, net of deferred income tax	$	43,851		$	(108,937	)	$	79,928

e) Restricted Cash and Cash Equivalents and Investments

We are required to maintain assets on deposit to support our reinsurance operations and to serve as collateral for our reinsurance liabilities under various reinsurance agreements. The assets on deposit are available to settle reinsurance liabilities. We also utilize trust accounts to collateralize business with our reinsurance counterparties. These trust accounts generally take the place of letter of credit requirements.

4. Investments (continued)

The assets in trust as collateral are primarily cash and highly rated fixed maturities. The fair value of our restricted assets was as follows:



December 31,	2014		2013
Restricted cash and cash equivalents – third party agreements	$	107,884	$	72,877
Restricted cash and cash equivalents – related party agreements	175,817		4,429
Restricted cash and cash equivalents – U.S. state regulatory authorities	680		54
Total restricted cash and cash equivalents	284,381		77,360
Restricted investments – in trust for third party agreements at fair value (Amortized cost: 2014 – $993,974; 2013 – $933,897)	1,014,878		939,800
Restricted investments – in trust for related party agreements at fair value (Amortized cost: 2014 – $1,769,083; 2013 – $1,183,156)	1,814,478		1,201,473
Restricted investments – in trust for U.S. state regulatory authorities (Amortized cost: 2014 – $7,269; 2013 – $12,730)	7,606		13,065
Total restricted investments	2,836,962		2,154,338
Total restricted cash and cash equivalents and investments	$	3,121,343	$	2,231,698

- Definition

The entire disclosure for investment holdings. This includes the long positions of investments for the entity. It contains investments in affiliated and unaffiliated issuers. The investments include securities and non securities (i.e. commodities and futures contracts).

+ References+ Details

Fair Value Measurements

12 Months Ended

Dec. 31, 2014

Fair Value Disclosures [Abstract]

Fair Value Measurements

a) Fair Values of Financial Instruments

ASC 825, "Disclosure About Fair Value of Financial Instruments", requires all entities to disclose the fair value of their financial instruments, both assets and liabilities recognized and not recognized in the balance sheet, for which it is practicable to estimate fair value.

The following describes the valuation techniques used by the Company to determine the fair value of financial instruments held at December 31, 2014.

U.S. government and U.S. government agencies — Comprised primarily of bonds issued by the U.S. Treasury, the Federal Home Loan Bank, the Federal Home Loan Mortgage Corporation, Government National Mortgage Association and the Federal National Mortgage Association. The fair values of U.S. treasury bonds are based on quoted market prices in active markets, and are included in the Level 1 fair value hierarchy. We believe the market for U.S. treasury bonds is an actively traded market given the high level of daily trading volume. The fair values of U.S. government agency bonds are determined using the spread above the risk-free yield curve. As the yields for the risk-free yield curve and the spreads for these securities are observable market inputs, the fair values of U.S. government agency bonds are included in the Level 2 fair value hierarchy.

Non-U.S. government and supranational bonds — Comprised of bonds issued by non-U.S. governments and their agencies along with supranational organizations. These securities are generally priced by independent pricing services. The Pricing Service may use current market trades for securities with similar quality, maturity and coupon. If no such trades are available, the Pricing Service typically uses analytical models which may incorporate spreads, interest rate data and market/sector news. As the significant inputs used to price non-U.S. government and supranational bonds are observable market inputs, the fair values of non-U.S. government and supranational bonds are included in the Level 2 fair value hierarchy.

Other mortgage-backed securities — Comprised of commercial mortgage-backed securities ("CMBS"). These securities are priced by independent pricing services and brokers. The pricing provider applies dealer quotes and other available trade information, prepayment speeds, yield curves and credit spreads to the valuation. As the significant inputs used to price the CMBS are observable market inputs, the fair value of the CMBS is included in the Level 2 fair value hierarchy.

Corporate bonds — Comprised of bonds issued by corporations that on acquisition are rated BBB-/Baa3 or higher. These securities are generally priced by independent pricing services. The fair values of corporate bonds that are short-term are priced, by the pricing services, using the spread above the London Interbank Offering Rate ("LIBOR") yield curve and the fair value of corporate bonds that are long-term are priced using the spread above the risk-free yield curve. The spreads are sourced from broker/dealers, trade prices and the new issue market. Where pricing is unavailable from pricing services, we obtain non-binding quotes from broker-dealers. As the significant inputs used to price corporate bonds are observable market inputs, the fair values of corporate bonds are included in the Level 2 fair value hierarchy.

5. Fair Value Measurements (continued)

Municipal bonds - auction rate — Comprised of auction rate securities issued by U.S. state and municipality entities or agencies. Municipal auction rate securities are reported in the Consolidated Balance Sheets at fair value which approximates their cost. As the significant inputs used to price the auction rate securities are observable market inputs, auction rate securities are classified within Level 2.

Municipal bonds - other — Comprised of bonds issued by U.S. state and municipality entities or agencies. The fair values of municipal bonds are generally priced by independent pricing services. The pricing services typically use spreads obtained from broker-dealers, trade prices and the new issue market. As the significant inputs used to price the municipal bonds are observable market inputs, municipal bonds are classified within Level 2.

Short-term investments — Comprised of commercial paper issued by corporations, all with maturities greater than 90 days and less than one year at the date of purchase. The fair values of these short-term investments are priced by independent pricing services, using market pricing and other observable market inputs for the same or similar securities obtained from a number of industry standard data providers. As the significant inputs used to price the commercial paper securities are observable market inputs, commercial paper securities are classified within Level 2.

Other investments — The Company's other investments comprise both quoted and unquoted investments. The Company's quoted equity investment is based on the price obtained from the Pricing Service, reflecting the closing price quoted for the final trading day of the period. Unquoted other investments comprise investments in limited partnerships and an investment in preference shares of a start-up insurance producer. The fair values of the limited partnerships are determined by the fund manager based on recent filings, operating results, balance sheet stability, growth and other business and market sector fundamentals, and as such, the fair values are included in the Level 3 fair value hierarchy. The fair value of the investment in preference shares of a start-up insurance producer was determined using recent private market transactions and as such, the fair value is included in the Level 3 fair value hierarchy.

Reinsurance balances receivable — The carrying values reported in the accompanying consolidated balance sheets for these financial instruments approximate their fair value due to short term nature of the assets.

Loan to related party — The carrying value reported in the accompanying consolidated balance sheets for this financial instrument approximates its fair value.

Senior notes — The amount reported in the accompanying consolidated balance sheets for these financial instruments represents the carrying value of the notes. The fair values are based on quoted prices of identical instruments in inactive markets and as such, are included in the Level 2 hierarchy.

Junior subordinated debt — The amount reported in the accompanying balance sheets for this financial instrument represents the carrying value of the debt. The fair value of the debt was derived using the Black-Derman-Toy model. As the fair value of the junior subordinated debt was determined using observable market inputs in the Black-Derman-Toy model, the fair value was included in the Level 2 fair value hierarchy for the year ended December 31, 2013. On January 15, 2014, the Company's wholly owned U.S. holding company, Maiden Holdings North America, Ltd. ("Maiden NA"), repurchased all of the outstanding junior subordinated debt at face value.

b) Fair Value Hierarchy

The Company’s estimates of fair value for financial assets and financial liabilities are based on the framework established in ASC 820. The framework is based on the inputs used in valuation and gives the highest priority to quoted prices in active markets and requires that observable inputs be used in the valuations when available. The disclosure of fair value estimates in the ASC 820 hierarchy is based on whether the significant inputs into the valuation are observable. In determining the level of the hierarchy in which the estimate is disclosed, the highest priority is given to unadjusted quoted prices in active markets and the lowest priority to unobservable inputs that reflect the Company’s significant market assumptions.

5. Fair Value Measurements (continued)

At December 31, 2014 and 2013, we classified our financial instruments measured at fair value on a recurring basis in the following valuation hierarchy:



December 31, 2014	Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)			Total Fair Value
AFS fixed maturities
U.S. treasury bonds	$	9,360		$	—		$	—		$	9,360
U.S. agency bonds – mortgage-backed	—			1,322,443			—			1,322,443
U.S. agency bonds – other	—			7,988			—			7,988
Non-U.S. government and supranational bonds	—			51,643			—			51,643
Other mortgage-backed securities	—			54,780			—			54,780
Corporate bonds	—			1,895,379			—			1,895,379
Municipal bonds - other	—			65,819			—			65,819
Short-term investments	—			49,492			—			49,492
Other investments	5,990			—			6,581			12,571
Total	$	15,350		$	3,447,544		$	6,581		$	3,469,475
As a percentage of total assets	0.3		%	66.8		%	0.1		%	67.2		%



December 31, 2013	Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)			Total Fair Value
AFS fixed maturities
U.S. treasury bonds	$	17,209		$	—		$	—		$	17,209
U.S. agency bonds – mortgage-backed	—			1,262,655			—			1,262,655
U.S. agency bonds – other	—			8,108			—			8,108
Non-U.S. government and supranational bonds	—			73,212			—			73,212
Other mortgage-backed securities	—			33,444			—			33,444
Corporate bonds	—			1,606,700			—			1,606,700
Municipal bonds - auction rate	—			99,170			—			99,170
Municipal bonds - other	—			61,569			—			61,569
Other investments	—			—			5,092			5,092
Total	$	17,209		$	3,144,858		$	5,092		$	3,167,159
As a percentage of total assets	0.4		%	66.7		%	0.1		%	67.2		%

The Company utilized a Pricing Service to estimate fair value measurements for approximately 99.9% and 95.3% of its fixed maturities at December 31, 2014 and 2013, respectively. The Pricing Service utilizes market quotations for fixed maturity securities that have quoted market prices in active markets. Since fixed maturities other than U.S. treasury bonds generally do not trade on a daily basis, the Pricing Service prepares estimates of fair value measurements using relevant market data, benchmark curves, sector groupings and matrix pricing and these have been classified as Level 2. At December 31, 2014 and 2013, 0.1% and 4.7%, respectively, of the fixed maturities are valued using the market approach. At those dates, a total of one security and five securities, respectively, or approximately $5,016 and $150,298, respectively, of Level 2 fixed maturities, were priced using a quotation from a broker and/or custodian as opposed to the Pricing Service. The Pricing Service was not able to value one corporate bond at December 31, 2014 and five newly-issued U.S. agency bonds at December 31, 2013 due to lack of information available. At December 31, 2014 and 2013, we have not adjusted any pricing provided to us based on the review performed by our investment managers.

5. Fair Value Measurements (continued)

Other investments: The Company utilized a Pricing Service to estimate fair value measurement for the quoted equity investment reflecting the closing price quoted for the final trading day of the period. For the unquoted other investments, the Company has $5,581 or approximately 0.2% of its investment portfolio in limited partnerships, where the fair value estimate is determined by the fund manager based on recent filings, operating results, balance sheet stability, growth, other business and market sector fundamentals and an investment of $1,000 in preference shares of a start-up insurance producer, the fair value of which was determined using recent private market transactions Due to the significant unobservable inputs in these valuations, the Company includes the estimate of the fair value of the unquoted investments as Level 3.

There have not been any transfers between Level 1 and Level 2 during the periods represented by these Consolidated Financial Statements. During the year ended December 31, 2014, there was a transfer from Level 3 to Level 1 following a private placement investment made by the Company, the fair value of which was initially determined using private market transactions and a subscription via a 144a prospectus, which began trading on NASDAQ following a resale registration statement coming into effect. At December 31, 2014, this investment of $5,990 is now included within Level 1 of the fair value hierarchy.

c) Level 3 Financial Instruments

The Company has determined that its investments in Level 3 securities are not material to its financial position or results of operations.

The following table presents changes in Level 3 of our financial instruments measured at fair value on a recurring basis for the years ended December 31, 2014 and 2013:



	For the Year Ended December 31,
Other investments:	2014			2013
Balance at beginning of period	$	5,092		$	2,901
Total realized gains – included in net realized gains on investment	439			188
Total realized losses – included in net realized gains on investment	—			—
Change in total unrealized gains – included in other comprehensive income (loss)	1,139			268
Change in total unrealized losses – included in other comprehensive income (loss)	—			—
Purchases	6,698			2,135
Sales and redemptions	(797		)	(400		)
Transfers into Level 3	—			—
Transfers out of Level 3	(5,990		)	—
Balance at end of period	$	6,581		$	5,092
Level 3 gains (losses) included in net income attributable to the change in unrealized gains (losses) relating to assets held at the reporting date	$	—		$	—

d) Fair Value of Liabilities

The following table presents the carrying values and fair values of the Senior Notes and Junior Subordinated Debt at December 31, 2014 and 2013:



			December 31, 2014				December 31, 2013
	Interest Rate		Carrying Value		Fair Value		Carrying Value		Fair Value
2011 Senior Notes	8.25	%	$	107,500	$	113,391	$	107,500	$	101,480
2012 Senior Notes	8.00	%	100,000		106,320		100,000		89,760
2013 Senior Notes	7.75	%	152,500		162,016		152,500		126,209
Junior Subordinated Debt	14.00	%	—		—		126,381		152,500

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References+ Details

Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill

Goodwill is calculated as the excess of purchase price over the net fair value of assets acquired. The Company performs an annual impairment analysis to identify potential goodwill impairment and measures the amount of a goodwill impairment loss to be recognized. This annual test is performed during the fourth quarter of each year or more frequently if events or circumstances change in a way that requires the Company to perform the impairment analysis on an interim basis. Goodwill impairment testing requires an evaluation of the estimated fair value of each reporting unit to its carrying value, including the goodwill. An impairment charge is recorded if the estimated fair value is less than the carrying amount of the reporting unit. No impairments have been identified to date.

Intangible Assets

Intangible assets consist of finite and indefinite life assets. Finite life intangible assets include customer and producer relationships and trademarks. Insurance company licenses are considered indefinite life intangible assets subject to annual impairment testing.

The following tables show the analysis of goodwill and intangible assets:



	Goodwill		Intangible Assets			Total
December 31, 2012	$	58,312	$	36,081		$	94,393
Amortization	—		(3,780		)	(3,780		)
December 31, 2013	58,312		32,301			90,613
Amortization	—		(3,277		)	(3,277		)
December 31, 2014	$	58,312	$	29,024		$	87,336



December 31, 2014	Gross		Accumulated Amortization			Net		Useful Life
Goodwill	$	58,312	$	—		$	58,312	Indefinite
State licenses	7,727		—			7,727		Indefinite
Customer relationships	51,400		(30,103		)	21,297		15 years double declining
Net balance	$	117,439	$	(30,103	)	$	87,336



December 31, 2013	Gross		Accumulated Amortization			Net		Useful Life
Goodwill	$	58,312	$	—		$	58,312	Indefinite
State licenses	7,727		—			7,727		Indefinite
Customer relationships	51,400		(26,826		)	24,574		15 years double declining
Net balance	$	117,439	$	(26,826	)	$	90,613

The goodwill and intangible assets were recognized as a result of the acquisition of the reinsurance operations of GMAC Insurance ("GMACI"), including its book of assumed reinsurance business, GMAC RE Insurance Services LLC (renamed Maiden Re), GMAC Direct Insurance Company (renamed Maiden US) and Integon Specialty Insurance Company (renamed Maiden Specialty Insurance Company ("Maiden Specialty") (collectively referred to as the "GMAC Acquisition") on October 31, 2008 and the acquisition of the majority of the reinsurance-related infrastructure, assets and liabilities of U.K. based GMAC International Insurance Services ("IIS") (the "IIS Acquisition") on November 30, 2010. The goodwill and intangible assets are assigned to the Diversified Reinsurance segment and are subject to annual impairment testing. No impairment was recorded during the years ended December 31, 2014, 2013 and 2012.

6. Goodwill and Intangible Assets (continued)

The estimated amortization of intangible assets for the next five years is as follows:



2015	$	2,840
2016	2,461
2017	2,133
2018	1,848
2019	1,602

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References+ Details

Long-Term Debt

12 Months Ended

Dec. 31, 2014

Debt Disclosure [Abstract]

Long-Term Debt

a) Senior Notes

The Company, through its wholly owned subsidiary Maiden NA, completed public debt offerings on three separate occasions, with the issuance of senior notes in 2011, 2012 and 2013, respectively, (the "Senior Notes"). Each issuance is fully and unconditionally guaranteed by the Company and are an unsecured and unsubordinated obligation of the Company. The following table presents details about the Company's Senior Notes issuances:



	2011 Senior Notes			2012 Senior Notes			2013 Senior Notes
Principal	$	107,500		$	100,000		$	152,500
Debt Issuance Costs	2,811			3,406			5,054
Net Proceeds	$	104,689		$	96,594		$	147,446

Other details:
Maturity date	June 15, 2041			March 27, 2042			December 1, 2043
Earliest redeemable date (for cash)	June 15, 2016			March 27, 2017			December 1, 2018
Coupon rate	8.25		%	8.00		%	7.75		%
Effective interest rate	8.47		%	8.28		%	8.04		%

The interest expense incurred on the Senior Notes for the year ended December 31, 2014 was $28,687 (2013 - $18,084, 2012 - $14,980), of which $1,523 and $1,720 was accrued at December 31, 2014 and 2013, respectively. The debt issuance costs related to the Senior Notes were capitalized and are being amortized over the life of the notes. The amount of amortization expense was $375 for the year ended December 31, 2014 (2013 - $223, 2012 - $266).

b) Junior Subordinated Debt

On January 15, 2014, Maiden NA repurchased the remaining portion of the outstanding Junior Subordinated Debt, with a face value of $152,500, using primarily the proceeds of its 2013 Senior Notes, as well as cash on hand. The Company incurred a non-recurring, non-cash charge of $28,240, which represents the accelerated amortization of original issuance discount and write-off of issuance costs associated with the Junior Subordinated Debt. The interest and amortization expenses incurred on the Junior Subordinated Debt for the year ended December 31, 2014 was $893 (2013 - $21,413, 2012 - $21,404), of which $nil and $4,448 was accrued at December 31, 2014 and 2013, respectively.

Reinsurance

12 Months Ended

Dec. 31, 2014

Reinsurance Disclosures [Abstract]

Reinsurance

The Company utilizes reinsurance and retrocessional reinsurance ("ceded reinsurance") agreements to reduce its exposure to large claims and catastrophic loss occurrences with various reinsurance companies. These agreements provide for recovery from reinsurers of a portion of losses and LAE under certain circumstances without relieving the Company of its obligations to the policyholders. The Company remains liable to the extent that any reinsurance company fails to meet its obligations. Losses and LAE incurred and premiums earned are reported after deduction for reinsurance. In the event that one or more of the reinsurers are unable to meet their obligations under these reinsurance agreements, the Company would not realize the full value of the reinsurance recoverable balances.

8. Reinsurance (continued)

The effect of retrocessional activity on net premiums written and earned and on net loss and LAE for the years ended December 31, 2014, 2013 and 2012 was as follows:



For the Year Ended December 31,	2014			2013			2012
Premiums written
Direct	$	48,565		$	104,976		$	122,412
Assumed	2,458,787			2,099,183			1,878,580
Ceded	(49,216		)	(107,858		)	(99,707		)
Net	$	2,458,136		$	2,096,301		$	1,901,285
Premiums earned
Direct	$	70,807		$	118,170		$	119,398
Assumed	2,253,750			1,994,225			1,780,745
Ceded	(72,814		)	(111,508		)	(96,363		)
Net	$	2,251,743		$	2,000,887		$	1,803,780
Loss and loss adjustment expenses
Gross loss and loss adjustment expenses	$	1,592,795		$	1,421,328		$	1,457,404
Loss and loss adjustment expenses ceded	(94,524		)	(71,698		)	(195,056		)
Net	$	1,498,271		$	1,349,630		$	1,262,348

The reinsurers with the three largest balances accounted for 45.6%, 10.6% and 9.9%, respectively, of the Company's reinsurance recoverable on unpaid losses balance at December 31, 2014 (2013 – 38.0%, 13.3% and 11.7%, respectively). At December 31, 2014, 92.9% of the reinsurance recoverable on unpaid losses was due from reinsurers with credit ratings from A.M Best of A or better, 5.6% due from reinsurers with credit ratings of A- and 0.9% of the reinsurance recoverable on unpaid losses was due from reinsurers with credit ratings of B++. At December 31, 2014 and 2013, the Company had no valuation allowance against reinsurance recoverable on unpaid losses.

- Definition

The entire disclosure pertaining to the existence, magnitude and information about insurance that has been ceded to or assumed from another insurance company, including the methodologies and assumptions used in determining recorded amounts.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

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-Name Accounting Standards Codification

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-Name Regulation S-X (SX)

-Number 210

-Section 03

-Paragraph 13

-Article 7

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-Name Regulation S-X (SX)

-Number 210

-Section 03

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+ Details

Reserve for Loss and Loss Adjustment Expenses

12 Months Ended

Dec. 31, 2014

Insurance [Abstract]

Reserve for Loss and Loss Adjustment Expenses

Our reserve for loss and LAE comprises:



December 31,	2014		2013
Reserve for reported loss and LAE	$	1,252,284	$	1,087,401
Reserve for losses incurred but not reported	1,019,008		870,434
Reserve for loss and loss adjustment expenses	$	2,271,292	$	1,957,835

9. Reserve for Loss and Loss Adjustment Expenses (continued)

The following table represents a reconciliation of our beginning and ending gross and net loss and loss adjustment expense reserves:



For the Year Ended December 31,	2014			2013			2012
Gross loss and loss adjustment expense reserves, January 1	$	1,957,835		$	1,740,281		$	1,398,438
Less: reinsurance recoverable on unpaid losses, January 1	84,036			110,858			20,289
Net loss and loss adjustment expense reserves, January 1	1,873,799			1,629,423			1,378,149
Net incurred losses related to:
Current year	1,479,425			1,351,043			1,239,016
Prior years	18,846			(1,413		)	23,332
	1,498,271			1,349,630			1,262,348
Net paid losses related to:
Current year	(430,394		)	(517,606		)	(485,015		)
Prior years	(705,397		)	(598,490		)	(530,294		)
	(1,135,791		)	(1,116,096		)	(1,015,309		)
Effect of foreign exchange movements	(40,860		)	10,842			4,235
Net loss and loss adjustment expense reserves, December 31	2,195,419			1,873,799			1,629,423
Reinsurance recoverable on unpaid losses, December 31	75,873			84,036			110,858
Gross loss and loss adjustment expense reserves, December 31	$	2,271,292		$	1,957,835		$	1,740,281

Management believes that its use of both historical experience and industry-wide loss development factors provide a reasonable basis for estimating future losses. As the Company writes more business and develops more credible data, the Company expects to assign more weight to its own historical experience than industry-wide results. In either case, future events beyond the control of management, such as changes in law, judicial interpretations of law, and inflation may favorably or unfavorably impact the ultimate settlement of the Company’s loss and LAE reserves.

The anticipated effect of inflation is implicitly considered when estimating liabilities for losses and LAE. While anticipated changes in claim costs due to inflation are considered in estimating the ultimate claim costs, changes in average severity of claims are caused by a number of factors that vary with the individual type of policy written. Ultimate losses are projected based on historical trends adjusted for implemented changes in underwriting standards, policy provisions, and general economic trends. Those anticipated trends are monitored based on actual development and are modified if necessary.

During 2014, the Company recorded estimated net adverse development on prior year loss reserves of $18,846 or 1.0% of prior year net loss and loss adjustment expense reserves compared to net favorable development $1,413 or 0.1% in 2013 and net adverse development of $23,332 or 1.7% in 2012, respectively. The run-off NGHC quota share had adverse development of $8,371, $6,078 and $5,179 during the years ended December 31, 2014, 2013 and 2012, respectively.

Prior period development arises from changes to loss estimates recognized in the current year that relate to loss reserves in previous calendar years. The development reflects changes in the actuarial assessments of the ultimate losses under the relevant reinsurance policies.

- Definition

The entire disclosure for liabilities related to future policy benefits and unpaid claims and claim adjustments.

+ References+ Details

Related Party Transactions	12 Months Ended
Related Party Transactions	Dec. 31, 2014
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions The Founding Shareholders of the Company are Michael Karfunkel, George Karfunkel and Barry Zyskind. Michael Karfunkel is the non-executive chairman of the board of AmTrust, George Karfunkel is a director of AmTrust, and Barry Zyskind is the president, chief executive officer and director of AmTrust. The Founding Shareholders, including Leah Karfunkel (wife of Michael Karfunkel), own or control approximately 53.9% of the outstanding common shares of AmTrust. AmTrust owns 13.2% of the issued and outstanding shares of NGHC common stock, and Michael Karfunkel individually and the Michael Karfunkel 2005 Grantor Retained Annuity Trust (which is controlled by Leah Karfunkel, wife of Michael Karfunkel) own a combined 48.8% of the outstanding common shares of NGHC. Michael Karfunkel is the chairman and chief executive officer of NGHC, and Barry Zyskind is a director of NGHC. AmTrust The following describes transactions between the Company and AmTrust: AmTrust Quota Share Reinsurance Agreement Effective July 1, 2007, the Company and AmTrust entered into a master agreement, as amended (the "Master Agreement"), by which they caused Maiden Bermuda, a wholly owned subsidiary of the Company, and AmTrust's Bermuda reinsurance subsidiary, AmTrust International Insurance, Ltd. ("AII"), to enter into a quota share reinsurance agreement (the "Reinsurance Agreement") by which (a) AII retrocedes to Maiden Bermuda an amount equal to 40% of the premium written by subsidiaries of AmTrust, net of the cost of unaffiliated inuring reinsurance (and in the case of AmTrust's U.K. insurance subsidiary, AmTrust Europe Limited ("AEL"), net of commissions) and 40% of losses and (b) AII transferred to Maiden Bermuda 40% of the AmTrust subsidiaries' unearned premiums, effective July 1, 2007, with respect to the current lines of business. The Master Agreement further provided that AII receives a ceding commission of 31% of ceded written premiums. On June 11, 2008, Maiden Bermuda and AII amended the Reinsurance Agreement to add Retail Commercial Package Business to the Covered Business as a consequence of AmTrust's acquisition of Unitrin Business Insurance ("UBI"). Under the amendment, AmTrust's subsidiaries ceded, upon collection, to Maiden Bermuda 100% of $82.2 million of unearned premium (net of inuring reinsurance) from the acquisition of UBI's in-force book of business. Additionally, AmTrust cedes to Maiden Bermuda 40% of net premiums written, effective June 1, 2008. Maiden Bermuda will pay to AmTrust a ceding commission of 34.375% on the unearned premium cession and the Retail Commercial Package Business. On February 9, 2009, Maiden Bermuda and AII amended the Reinsurance Agreement to clarify that (i) AII would offer Maiden Bermuda the opportunity to reinsure Excess Retention Business, which is defined as a policy issued by an AmTrust insurance subsidiary with respect to which the insurance subsidiary's retention is greater than $5,000 and (ii) the deduction for the cost of inuring reinsurance from Affiliate Subject Premium (as defined in the Reinsurance Agreement) retroceded to Maiden Bermuda is net of ceding commission. Effective April 1, 2011, Maiden Bermuda and AII amended the Master Agreement to reduce the commission on all business ceded except Retail Commercial Package Business to 30% until December 31, 2011. Thereafter, the rate shall be 31% subject to an adjustment of 1% to 30% if the proportion of Specialty Risk and Extended Warranty premium ceded is greater than or equal to 42% of the Covered Business (excluding Retail Commercial Package Business). If the proportion of Specialty Risk and Extended Warranty premium ceded is greater than or equal to 38% but less than 42% of the Covered Business (excluding Retail Commercial Package Business), the commission rate shall be reduced by 0.5% to 30.5%. In addition, the collateral arrangements were restated to clarify that balances relating to all AmTrust subsidiaries are subject to collateral requirements. Effective March 7, 2013, Maiden Bermuda and AII amended the Reinsurance Agreement extending the term of the agreement to July 1, 2016, and shall automatically renew for successive three-year periods thereafter. If AII or Maiden Bermuda elects to so terminate the Reinsurance Agreement, it shall give written notice to the other party hereto not less than nine months prior to either July 1, 2016 or the expiration of any successive three-year period. In addition, either party is entitled to terminate on thirty days' notice or less upon the occurrence of certain early termination events, which include a default in payment, insolvency, change in control of AII or Maiden Bermuda, run-off, or a reduction of 50% or more of the shareholders' equity of Maiden Bermuda or the combined shareholders' equity of AII and the AmTrust subsidiaries. The amendment further provides that, effective January 1, 2013, AII will receive a ceding commission of 31% of ceded written premiums with respect to all Covered Business other than retail commercial package business, for which the ceding commission will remain 34.375%. Lastly, with regard to the Specialty Program portion of Covered Business only, AII will be responsible for ultimate net loss otherwise recoverable from Maiden Bermuda to the extent that the loss ratio to Maiden Bermuda, which shall be determined on an inception to date basis from July 1, 2007 through the date of calculation, is between 81.5% and 95%. Above and below the defined corridor, Maiden Bermuda will continue to reinsure losses at its proportional 40% share per the Reinsurance Agreement. 10. Related Party Transactions (continued) AmTrust European Hospital Liability Quota Share Agreement ("European Hospital Liability Quota Share") Effective April 1, 2011, Maiden Bermuda, entered into a quota share reinsurance contract with AEL and AmTrust International Underwriters Limited ("AIUL"), both wholly owned subsidiaries of AmTrust. Pursuant to the terms of the contract, Maiden Bermuda assumed 40% of the premiums and losses related to policies classified as European Hospital Liability, including associated liability coverages and policies covering physician defense costs, written or renewed on or after April 1, 2011. The contract also covers policies written or renewed on or before March 31, 2011, but only with respect to losses that occur, accrue or arise on or after April 1, 2011. The maximum limit of liability attaching shall be €5,000 or currency equivalent (on a 100% basis) per original claim for any one original policy. Maiden Bermuda will pay a ceding commission of 5% and shall allow the reinsured a profit share on original net premiums ceded under the contract. Effective January 1, 2012, the quota share reinsurance contract with AEL and AIUL was amended, thereby increasing the maximum liability attaching to €10,000 or currency equivalent (on a 100% basis) per original claim for any one original policy. Furthermore, amendments were also made to the contract to expand the territorial scope to include new territories, specifically France. The agreement has been renewed through March 31, 2016 and can be terminated at any April 1 by either party on four months notice. For the year ended December 31, 2014, the Company recorded approximately $401,679 (2013 - $279,197, 2012 - $191,450) of commission expense as a result of both of these quota share arrangements with AmTrust. Other Reinsurance Agreements Effective September 1, 2010, the Company through its indirect wholly owned subsidiary, Maiden Specialty, entered into a quota share reinsurance agreement with Technology Insurance Company, Inc. ("Technology"), a subsidiary of AmTrust. Under the agreement, Maiden Specialty ceded (a) 90% of its gross liability written under the Open Lending Program ("OPL") and (b) 100% of its surplus lines general liability business under the Naxos Avondale Specialty Casualty Program ("NAXS"). Maiden Specialty's involvement is limited to certain states where Technology was not fully licensed. The agreement also provides that Maiden Specialty receives a ceding commission of 5% of ceded written premiums. The reinsurance agreement had a term of three years and remained continuously in force until terminated in accordance with the contract. The OPL program was terminated on December 31, 2011, on a run-off basis, and the NAXS program was terminated on October 31, 2012. Maiden Specialty recorded $171 of ceded premiums and $8 ceding commission income for the year ended December 31, 2014 (2013 - $928 and $186, respectively, 2012 - $7,363 and $2,171, respectively). Effective September 1, 2010, our indirect wholly owned subsidiary, Maiden US, entered into an arrangement whereby a subsidiary of AmTrust fronted a a reinsurance agreement in which Maiden US assumed 80% of the gross liabilities produced under the Southern General Agency program with the other 20% being assumed by a third party. This fronting arrangement compensated AmTrust with a 5% commission of ceded written premiums. The agreement was subsequently amended, effective September 1, 2012, whereby the termination date of the agreement was extended until August 31, 2013. This agreement expired on the termination date and is currently in run-off. Pursuant to the latest amendment, Maiden US now receives 100% of the premium and reinsures 100% of the gross liabilities incurred (from the effective date). Under this agreement, as amended, Maiden US recorded approximately $1,796 of premiums earned and $90 of commission expense for the year ended December 31, 2014, (2013 - $4,785 and $239, respectively, 2012 - $2,145 and $107, respectively). Effective April 1, 2012, Maiden US entered into a reinsurance agreement with AmTrust's wholly owned subsidiary, AmTrust North America, Inc. ("AmTrust NA"). Maiden US shall indemnify AmTrust NA, on an excess of loss basis, as a result of losses occurring on AmTrust NA's new and renewal policies relating to the lines of business classified as Automobile Liability by AmTrust NA in its annual statement utilizing the specific underwriting guidelines defined in the reinsurance agreement. AmTrust NA shall retain the first $1,000 of loss, per any one policy or per any one loss occurrence. Maiden US shall be liable for the amount by which AmTrust NA's loss exceeds $1,000, but the liability of Maiden US shall not exceed $1,000 on any one policy and any one loss occurrence. The agreement provides AmTrust NA with fixed ceding commissions on net premiums written varying between 10% to 27.5% depending on the commission rate in the underlying policy. This agreement has a term of one year and automatically renews annually unless terminated pursuant to the terms of the agreement. Under this agreement, Maiden US recorded approximately $1,241 of net premiums earned and $262 of commission expense for the year ended December 31, 2014 ($643 and $388 net premiums earned and $158 and $81 commission expense for the years ended December 31, 2013 and 2012, respectively). Effective November 1, 2014, the Company's wholly owned subsidiary, Maiden LF, executed a Binding Authority Agreement with AEL, whereby Maiden LF effectively authorizes AEL to place Maiden LF on risk, within defined parameters, on an existing scheme that covers Medical Expenses, Life, Permanent Disability and Critical Illness of a Canadian domiciled company, that provides medical advice, access to health professionals and health related insurance products on a membership basis. 10. Related Party Transactions (continued) The maximum liability shall not exceed €20 per insured person and any bound agreement shall not exceed 12 months. This agreement may be terminated upon 90 days written notice by either party. Under this agreement, for the year ended December 31, 2014, the Company recorded $nil net premiums written. Collateral provided to AmTrust a) AmTrust Quota Share Reinsurance Agreement In order to provide AmTrust's U.S. insurance subsidiaries with credit for reinsurance on their statutory financial statements, AII, as the direct reinsurer of the AmTrust's insurance subsidiaries, has established trust accounts ("Trust Accounts") for their benefit. Maiden Bermuda has agreed to provide appropriate collateral to secure its proportional share under the Reinsurance Agreement of AII's obligations to the AmTrust subsidiaries to whom AII is required to provide collateral. This collateral may be in the form of (a) assets loaned by Maiden Bermuda to AII for deposit into the Trust Accounts, pursuant to a loan agreement between those parties, (b) assets transferred by Maiden Bermuda for deposit into the Trust Accounts, (c) a letter of credit obtained by Maiden Bermuda and delivered to an AmTrust subsidiary on AII's behalf (a "Letter of Credit"), or (d) premiums withheld by an AmTrust subsidiary at Maiden Bermuda's request in lieu of remitting such premiums to AII ("Withheld Funds"). Maiden Bermuda may provide any or a combination of these forms of collateral, provided that the aggregate value thereof equals Maiden Bermuda's proportionate share of its obligations under the Reinsurance Agreement with AII. The amount of collateral Maiden Bermuda is required to maintain, which is determined quarterly, equals its proportionate share of (a) the amount of ceded paid losses for which AII is responsible to such AmTrust subsidiaries but has not yet paid, (b) the amount of ceded loss reserves (including ceded reserves for claims reported but not resolved and losses incurred but not reported) for which AII is responsible to AmTrust subsidiaries, and (c) the amount of ceded reserves for unearned premiums ceded by AmTrust subsidiaries to AII. Maiden Bermuda satisfied its collateral requirements under the Reinsurance Agreement with AII as follows: •by lending funds in the amount of $167,975 at December 31, 2014 and 2013 pursuant to a loan agreement entered into between those parties. This loan was assigned by AII to AmTrust effective December 31, 2014 and is carried at cost. Interest is payable at a rate equivalent to the one-month LIBOR plus 90 basis points per annum computed on the basis of a 360-day year on the loan. •effective December 1, 2008, the Company entered into a Reinsurer Trust Assets Collateral agreement to provide to AII sufficient collateral to secure its proportional share of AII's obligations to the U.S. AmTrust subsidiaries. The amount of the collateral, at December 31, 2014 was approximately $1,691,970 (2013 - $1,094,964) and the accrued interest was $10,413 (2013 - $8,159). See "Note 4. (e) Investments" for additional information. b) European Hospital Liability Quota Share AEL requested, in accordance with the agreement, that Maiden Bermuda provide collateral to secure its proportional share under the agreement. The amount of collateral Maiden Bermuda provided at December 31, 2014 was $230,618 (2013 - $nil) and the accrued interest was $3,185 (2013 - $nil). See "Note 4. (e) Investments" for additional information. Brokerage Agreements Effective July 1, 2007, the Company entered into a reinsurance brokerage agreement with AII Reinsurance Broker Ltd. ("AIIB"), a subsidiary of AmTrust. Pursuant to the brokerage agreement, AIIB provides brokerage services relating to the Reinsurance Agreement and the European Hospital Liability Quota Share agreement for a fee equal to 1.25% of the premium assumed. The brokerage fee is payable in consideration of AIIB's brokerage services. AIIB is not the Company's exclusive broker. The agreement may be terminated upon 30 days written notice by either party. Maiden Bermuda recorded $17,229, $12,361 and $9,097 of reinsurance brokerage expense for the years ended December 31, 2014, 2013 and 2012, respectively, and deferred reinsurance brokerage of $11,423 and $8,592 at December 31, 2014 and 2013, respectively, as a result of this agreement. Asset Management Agreement Effective July 1, 2007, the Company entered into an asset management agreement with AII Insurance Management Limited ("AIIM"), a wholly owned subsidiary of AmTrust, pursuant to which AIIM has agreed to provide investment management services to the Company. AIIM provides investment management services for a quarterly fee of 0.0375% if the average value of the account for the previous calendar quarter is greater than $1 billion. The agreement may be terminated upon 30 days written notice by either party. The Company recorded $5,214, $4,388 and $3,697 of investment management fees for the years ended December 31, 2014, 2013 and 2012, respectively, as a result of this agreement. 10. Related Party Transactions (continued) Other The Company entered into time sharing agreements for the lease of aircraft owned by AmTrust Underwriters, Inc. ("AUI"), a wholly owned subsidiary of AmTrust, and by AmTrust on March 1, 2011 and November 5, 2014, respectively. The agreements automatically renew for successive one-year terms unless terminated in accordance with the provisions of the agreements. Pursuant to the agreements, the Company will reimburse AUI and AmTrust for actual expenses incurred as allowed by Federal Aviation Regulations. For the year ended December 31, 2014, the Company recorded an expense of $88 (2013- $57, 2012 - $38) for the use of the aircraft. NGHC The following describes transactions between the Company and NGHC and its subsidiaries: NGHC Quota Share Reinsurance Agreement ("NGHC Quota Share") Maiden Bermuda, effective March 1, 2010, reinsures 25% of the net premiums of the GMAC personal lines business, pursuant to the NGHC Quota Share with the GMAC personal lines insurance companies, as cedents, and Maiden Bermuda. Maiden Bermuda has a 50% participation in the NGHC Quota Share, by which it receives 25% of net premiums of the personal lines automobile business and assumes 25% of the related net losses. The NGHC Quota Share provides that the reinsurers pay a provisional ceding commission equal to 32.5% of ceded earned premium, net of premiums ceded by the personal lines companies for inuring reinsurance, subject to adjustment. The ceding commission is subject to adjustment to a maximum of 34.5% if the loss ratio for the reinsured business is 60.0% or less and a minimum of 30.5% if the loss ratio is 64.5% or greater. Effective October 1, 2012, the parties amended the reinsurance agreement to decrease the provisional ceding commission from 32.5% to 32.0% of ceded earned premium, net of premiums ceded by the personal lines companies for inuring reinsurance, subject to adjustment. The ceding commission is subject to adjustment to a minimum of 30.0% (changed from 30.5%), if the loss ratio is 64.5% or greater. On August 1, 2013, the Company received notice from NGHC of the termination of the NGHC Quota Share effective on that date. The Company and NGHC mutually agreed that the termination is on a run-off basis, which means that Maiden Bermuda continues to earn premiums and remain liable for losses occurring subsequent to August 1, 2013 for any policies in force prior to and as of August 1, 2013 until those policies expire. Maiden Bermuda recorded $6,509 of ceding commission expense for the year ended December 31, 2014 (2013- $75,382, 2012 - $85,296) as a result of this transaction. Other Effective April 1, 2013, Maiden US entered into a Medical Excess of Loss reinsurance agreement with wholly owned subsidiaries of NGHC, Distributors Insurance Company PCC, AIBD Insurance Company IC and Professional Services Captive Corporation IC. Pursuant to this agreement, Maiden US indemnifies on an excess of loss basis, for the amounts of net loss, paid from April 1, 2013 through March 31, 2014. Maiden US is liable, under layer 1 of this agreement, for 100% of the net loss for each covered person per agreement year in excess of the $1,000 retention (each covered person per agreement year). Under this layer, Maiden US's liability shall not exceed $4,000 per covered person per agreement year. Maiden US is also liable, under layer 2 of this agreement, for 100% of net loss for each covered person per agreement year in excess of layer 1. Maiden US' liability under layer 2 shall not exceed $5,000 per covered person per agreement year. In addition to the coverage provided under layers 1 and 2, Maiden US indemnifies extra contractual obligations with a maximum liability of $2,000. Effective April 1, 2014, Maiden US renewed this agreement whereby Maiden US indemnifies, on an excess of loss basis, the amounts of net losses paid from April 1, 2014 through March 31, 2015. Maiden US is liable for 100% of the net loss for each covered person per agreement year in excess of the $1,100 retention (each covered person per agreement year). Maiden US' liability shall not exceed $8,900 per covered person per agreement year. In addition to the coverage provided under layers 1 and 2, Maiden US continues to indemnify extra contractual obligations with a maximum liability of $2,000. This agreement terminates on March 31, 2015 and, unless mutually agreed, Maiden US will be relieved of all liability hereunder for losses incurred or paid subsequent to such termination date. Under these agreements, Maiden US recorded $190 of premiums earned for the year ended December 31, 2014 (2013 - $180).

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References+ Details

Commitments and Contingencies

12 Months Ended

Dec. 31, 2014

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

a) Concentrations of Credit Risk

At December 31, 2014 and 2013, the Company’s assets where significant concentrations of credit risk may exist include investments, cash and cash equivalents, loan to related party and reinsurance balances receivable.

The Company manages concentration of credit risk in the investment portfolio through issuer and sector exposure limitations. The Company believes it bears minimal credit risk in its cash on deposit. The Company also monitors the credit risk related to the loan to related party and its reinsurance balances receivable, within which the largest balance is due from AmTrust. To mitigate credit risk, we generally have a contractual right of offset thereby allowing us to settle claims net of any premiums or loan receivable. The Company believes these balances will be fully collectible.

b) Concentrations of Revenue

During 2014, our gross premiums written from AmTrust accounted for $1,610,485 or 64.2% of our total gross premiums written(2013 – $1,169,961 or 53.1% and 2012 – $840,348 or 42.0%).

c) Brokers

We market our Diversified Reinsurance segment in Bermuda through third party intermediaries and in the U.S. through a combination of third-party intermediaries and directly through our own marketing efforts. For the year ended December 31, 2014, 57.1% (2013 - 57.7%, 2012 - 66.1%) of the Diversified Reinsurance segment gross premiums written was sourced through brokers. Our top three brokers represented approximately 31.6% of gross premiums written by our Diversified Reinsurance segment for the year ended December 31, 2014 (2013 - 29.9%, 2012 - 37.1%) and is comprised of Aon Benfield Inc.: 15.8% (2013 – 11.9%, 2012 – 10.1%), Marsh & McLennan Companies (including Guy Carpenter):12.0% (2013– 12.6%, 2012 – 18.0%) and Tiger Risk Partners: 3.8% (Beach & Associates, Ltd.: 2013 – 5.4%, 2012 – 9.0%).

d) Letters of Credit

At December 31, 2014 and 2013, we had letters of credit outstanding of $82,489 and $93,860, respectively. The letters of credit are secured by cash and fixed maturities with a fair value of $115,151 (2013 - $99,482).

e) Employment agreements

The Company has entered into employment agreements with certain individuals. The employment agreements provide for option awards, executive benefits and severance payments under certain circumstances.

f) Operating Lease Commitments

The Company leases office space, an apartment, equipment and vehicles under operating leases expiring in various years through 2020. The Company's office space lease in Hamilton, Bermuda for Maiden Holdings and Maiden Bermuda, which expires on November 30, 2017, has an option to renew for another five years. The Company's total rent expense for the years ended December 31, 2014, 2013 and 2012 was $2,432, $2,286 and $2,485, respectively. Future minimum lease payments at December 31, 2014 under non-cancellable operating leases for the next five years are approximately as follows:



	December 31, 2014
2015	$	1,643
2016	1,210
2017	1,028
2018	463
2019	513
	$	4,857

g) Unfunded Commitments

The Company has an unfunded commitment on its investment in limited partnerships of approximately $736 at December 31, 2014 (2013 - $2,088).

11. Commitments and Contingencies (continued)

h) Other Collateral

In the ordinary course of business, the Company enters into reinsurance agreements that may include terms which could require the Company to collateralize certain of its obligations.

i) Deposit Insurance

The Company maintains cash and cash equivalents balances at financial institutions in the U.S., Bermuda and other international jurisdictions. In the U.S., the Federal Deposit Insurance Corporation secures accounts up to $250. In certain other international jurisdictions, there exist similar protections. Management monitors balances in excess of insured limits and believes they do not represent a significant credit risk to the Company.

j) Legal Proceedings

Except as noted below, the Company is not a party to any material legal proceedings. From time to time, the Company is subject to routine legal proceedings, including arbitrations, arising in the ordinary course of business. These legal proceedings generally relate to claims asserted by or against the Company in the ordinary course of insurance or reinsurance operations. Based on the Company's opinion, the eventual outcome of these legal proceedings is not expected to have a material adverse effect on its financial condition or results of operations.

In April 2009, the Company learned that Bentzion S. Turin, the former Chief Operating Officer, General Counsel and Secretary of Maiden Holdings and Maiden Bermuda, sent a letter to the U.S. Department of Labor claiming that his employment with the Company was terminated in retaliation for corporate whistle blowing in violation of the whistle blower protection provisions of the Sarbanes-Oxley Act of 2002. Mr. Turin alleged concerns regarding corporate governance with respect to negotiation of the terms of the Trust Preferred Securities Offering and seeks reinstatement as Chief Operating Officer, General Counsel and Secretary of Maiden Holdings and Maiden Bermuda, back pay and legal fees incurred. On December 31, 2009, the U.S. Secretary of Labor found no reasonable cause for Mr. Turin’s claim and dismissed the complaint in its entirety. Mr. Turin objected to the Secretary's findings and requested a hearing before an administrative law judge in the U.S. Department of Labor. The Company moved to dismiss Mr. Turin's complaint, and its motion was granted by the Administrative Law Judge on June 30, 2011.

On July 13, 2011, Mr. Turin filed a petition for review of the Administrative Law Judge's decision with the Administrative Review Board in the U.S. Department of Labor. The Company filed its brief in opposition to the petition for review on October 19, 2011. On March 29, 2013, the Administrative Review Board reversed the dismissal of the complaint on procedural grounds, and remanded the case to the administrative law judge. The administrative hearing began in September 2014, and we expect it to conclude in the first half of 2015. The Company believes that it had ample reason for terminating such employment for good and sufficient legal cause, and the Company believes that the claim is without merit and is vigorously defending this claim.

k) Dividends declared

On November 5, 2014, the Company's Board of Directors authorized the following quarterly dividend:



	Dividend per Share		Payable on:	Record date:
Common shares	$	0.13	January 15, 2015	January 2, 2015

- Definition

The entire disclosure for commitments and contingencies.

+ References+ Details

Earnings per Common Share

12 Months Ended

Dec. 31, 2014

Earnings Per Share [Abstract]

Earnings per Common Share

The following is a summary of the elements used in calculating basic and diluted earnings per common share:



For the Year Ended December 31,	2014			2013			2012
Numerator:
Net income attributable to Maiden	$	101,391		$	102,735		$	50,154
Dividends on preference shares - Series A	(12,375		)	(12,375		)	(3,644		)
Dividends on convertible preference shares - Series B	(11,962		)	(2,459		)	—
Amount allocated to participating common shareholders⁽¹⁾	(94		)	(116		)	—
Numerator for basic EPS - net income allocated to Maiden common shareholders	76,960			87,785			46,510
Potentially dilutive securities:
Dividends on convertible preference shares - Series B	—			2,459			—
Numerator for diluted EPS - net income allocated to Maiden common shareholders after assumed conversion	$	76,960		$	90,244		$	46,510
Denominator:
Weighted average number of common shares – basic	72,843,782			72,510,361			72,263,022
Potentially dilutive securities:
Share options and restricted share units	1,273,786			1,253,479			842,509
Convertible preference shares	—			2,653,999			—
Adjusted weighted average number of common shares and assumed conversions – diluted	74,117,568			76,417,839			73,105,531
Basic earnings per share attributable to Maiden common shareholders:	$	1.06		$	1.21		$	0.64
Diluted earnings per share attributable to Maiden common shareholders:	$	1.04		$	1.18		$	0.64

(1) This represents earnings allocated to the holders of non-vested restricted shares issued to the Company's employees under the 2007 Share Incentive Plan.

(2) The effect of mandatory convertible preference shares were excluded in the calculation of diluted EPS for the year ended December 31, 2014 as they were anti-dilutive. Please refer to "Notes to Consolidated Financial Statements, Note 13. Shareholders' Equity" and "Notes to Consolidated Financial Statements Note 14. Share Compensation and Pension Plans" for the terms and conditions of each of these anti-dilutive instruments. Furthermore, the current number of additional common shares that could possibly be issued on conversion, if conversion after December 31, 2014 was permitted in accordance with the terms and conditions of Form 424B Prospectus Supplement filed with the SEC, is 10,718,483, an increase of 73,321 common shares since October 1, 2013.

At December 31, 2014, a total weighted average share options of 17,293 (2013 – nil; 2012 – 404,321) were excluded from diluted earnings per common share as they were anti-dilutive.

- Definition

The entire disclosure for earnings per share.

+ References+ Details

Shareholders' Equity

12 Months Ended

Dec. 31, 2014

Stockholders' Equity Note [Abstract]

Shareholders' Equity

Shareholders’ Equity

At December 31, 2014, the aggregate authorized share capital of the Company is 150,000,000 shares from which the Company has issued 73,900,889 common shares, of which 72,932,702 common shares are outstanding, and issued 9,300,000 preference shares. The remaining 66,799,111 are undesignated at December 31, 2014.

a) Common Shares

The following table shows the summary of changes in the Company's common shares outstanding:



For the Year Ended December 31,	2014		2013	2012
Outstanding shares – January 1	72,633,561		72,343,947	72,221,428
Issuance of vested restricted shares and restricted share units	184,396		—	—
Shares repurchased	(5,851	)	—	—
Exercise of options	120,596		289,614	122,519
Outstanding shares – December 31	72,932,702		72,633,561	72,343,947

13. Shareholders’ Equity (continued)

The Company's common shares have a par value of $0.01 per share. The holders of our common shares are entitled to receive dividends and are allocated one vote per common share, subject to downward adjustment under certain circumstances.

On December 24, 2012, the Company adopted a written trading plan to facilitate the repurchase of its common shares in accordance with the Company's existing share purchase reauthorization. On July 24, 2014, the Board of Directors has approved the repurchase of up to $75 million of the Company's common shares from time to time at market prices.

b) Mandatory Convertible Preference Shares - Series B

In October 2013, the Company issued a total of 3,300,000 7.25% Mandatory Convertible Preference Shares - Series B (the "Preference Shares - Series B"), par value $0.01, at a price of $50 per preference share. The Company received net proceeds of $159,675 from the offering after deducting issuance costs of $5,325, which were recognized as a reduction in additional paid-in capital. The Preference Shares - Series B are not redeemable. The authorized number of the Preference Shares - Series B is 3,300,000.

The Company will pay cumulative dividends on each of the Preference Shares - Series B at a rate of 7.25% per annum on the initial liquidation preference of $50 per share (equivalent to $3.625 per annum per Preference Share - Series B or $0.90625 per quarter except on the initial payment date which was $0.745139). Dividends will accrue and accumulate from the date of issuance and, to the extent that the Company has lawfully available funds to pay dividends and the board of directors declares a dividend payable, it will pay dividends quarterly each year commencing on December 15, 2013, up to, and including, September 15, 2016 in cash and on September 15, 2016 or any earlier conversion date in cash, or common shares, or a combination thereof, at the Company’s election and subject to the share cap, which is an amount per share equal to the product of (i) 2 and (ii) the maximum conversion rate of 4.0322, subject to conversion rate adjustments.

On the mandatory conversion date, September 15, 2016, each of the then-outstanding Preference Shares - Series B will automatically convert into a variable number of the Company’s common shares equal to the conversion rate, which will not be more than 4.0322 of the Company's common shares and not less than 3.2258, subject to conversion rate adjustments, that are based on the volume weighted average price per share of the Company’s common shares over the forty consecutive trading day period beginning on, and including, the forty-second scheduled trading day immediately preceding September 15, 2016 (the "final averaging period"). The mandatory conversion date is the third business day immediately following the last trading day of the final averaging period. The conversion rate will be adjusted from time to time if the Company issues common shares as a dividend, increases the cash dividend from $0.09 per share or in some other cases as described under "Description of the Mandatory Convertible Preference Shares - Conversion Rate Adjustments" of the Form 424B2 Prospectus Supplement filed with the SEC on September 27, 2013.

At any time prior to September 15, 2016, other than during the fundamental change conversion period (as defined in the prospectus supplement), a holder of mandatory convertible preference shares may elect to convert such holder's mandatory convertible preference shares at the minimum conversion rate of 3.2258 shares of the common share per mandatory convertible preference share, subject to adjustment as described under "Description of Mandatory Convertible Preference Shares - Conversion Rate Adjustments" of the Form 424B2 Prospectus Supplement filed with the SEC on September 27, 2013.

The Preference Shares - Series B have no voting rights other than to elect two additional members of the board of directors if dividends on the Preference Shares - Series B have not been declared and paid for the equivalent of six or more dividend periods. For the years ended December 31, 2014 and 2013, the Company declared and paid dividends on the Preference Shares - Series B of $11,962 and $2,459, respectively.

c) Preference Shares - Series A

On August 22, 2012, the Company issued six million 8.25% Preference Shares - Series A (the "Preference Shares - Series A"), par value $0.01 per share, at a price of $25 per preference share. The Company received net proceeds of $145,041 from its offering, after deducting issuance costs of $4,959, which were recognized as a reduction in additional paid-in capital. The Preference Shares - Series A have no stated maturity date and are redeemable in whole or in part at the option of the Company any time after August 29, 2017 at a redemption price of $25 per preference share plus any declared and unpaid dividends, without accumulation of any undeclared dividends. The authorized number of the Preference Shares - Series A is 6,000,000.

Dividends on the Preference Shares - Series A are non-cumulative. Consequently, in the event dividends are not declared on the Preference Shares - Series A for any dividend period, holders of Preference Shares - Series A will not be entitled to receive a dividend for such period, and such undeclared dividend will not accrue and will not be payable. The holders of Preference Shares - Series A will be entitled to receive dividend payments only when, as and if declared by the Company's board of directors or a duly authorized committee of the board of directors. Any such dividends will be payable from, and including, the date of original issue on a non-cumulative basis, quarterly in arrears.

13. Shareholders’ Equity (continued)

To the extent declared, these dividends will accumulate, with respect to each dividend period, in an amount per share equal to 8.25% of the $25 liquidation preference per annum. During any dividend period, so long as any Preference Shares - Series A remain outstanding, unless the full dividends for the latest completed dividend period on all outstanding Preference Shares - Series A have been declared and paid, no dividend shall be paid or declared on the common shares.

The holders of the Preference Shares - Series A have no voting rights other than the right to elect up to two directors if preference share dividends are not declared and paid for six or more dividend periods.

For the years ended December 31, 2014, 2013 and 2012, the Company declared and paid dividends on the Preference Shares - Series A of $12,375, $12,375 and $3,644, respectively.

d) Treasury Shares

On February 19, 2014, the Company repurchased 5,851 shares from employees, at a price per share of $11.18, which represents withholdings from employees in respect of tax obligations on the issued vested restricted shares.

e) Accumulated Other Comprehensive Income

The following table presents details about amounts reclassified from AOCI:



Details about AOCI Components	Consolidated Statements of Income Line Item that Includes Reclassification	For the Year Ended December 31,
Unrealized gains (losses) on AFS securities		2014			2013
	Net realized (losses) gains on investment	$	(3,160	)	$	6,955
	Net impairment losses recognized in earnings	(102		)	—
	Total before tax	(3,262		)	6,955
	Income tax expense	(16		)	(2		)
	Total after tax	$	(3,278	)	$	6,953

The following tables set forth financial information regarding the changes in the balances of each component of AOCI for the years ended December 31, 2014, 2013 and 2012:



For the Year Ended December 31, 2014	Change in net unrealized gains on investment		Foreign currency translation adjustments			Total
Beginning balance	$	34,728	$	(8,927	)	$	25,801
Other comprehensive income before reclassifications	40,573		25,592			66,165
Amounts reclassified from AOCI to net income, net of tax	3,278		—			3,278
Net current period other comprehensive income	43,851		25,592			69,443
Ending balance	78,579		16,665			95,244
Less: AOCI attributable to noncontrolling interest	—		(49		)	(49		)
Ending balance, Maiden shareholders	$	78,579	$	16,714		$	95,293

13. Shareholders’ Equity (continued)



For the Year Ended December 31, 2013	Change in net unrealized gains on investment			Foreign currency translation adjustments			Total
Beginning balance	$	143,665		$	(2,539	)	$	141,126
Other comprehensive loss before reclassifications	(101,984		)	(6,388		)	(108,372		)
Amounts reclassified from AOCI to net income, net of tax	(6,953		)	—			(6,953		)
Net current period other comprehensive loss	(108,937		)	(6,388		)	(115,325		)
Ending balance	34,728			(8,927		)	25,801
Less: AOCI attributable to noncontrolling interest	—			17			17
Ending balance, Maiden shareholders	$	34,728		$	(8,944	)	$	25,784



For the Year Ended December 31, 2012	Change in net unrealized gains on investment			Foreign currency translation adjustments			Total
Beginning balance	$	63,737		$	313		$	64,050
Other comprehensive income (loss) before reclassifications	82,915			(2,852		)	80,063
Amounts reclassified from AOCI to net income, net of tax	(2,987		)	—			(2,987		)
Net current period other comprehensive income (loss)	79,928			(2,852		)	77,076
Ending balance	143,665			(2,539		)	141,126
Less: AOCI attributable to noncontrolling interest	—			(4		)	(4		)
Ending balance, Maiden shareholders	$	143,665		$	(2,535	)	$	141,130

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

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-Topic 210

-SubTopic 10

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-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 29, 30, 31

-Article 5

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-Name Accounting Standards Codification

-Topic 310

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SAB TOPIC 4.E)

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-Article 4

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-Subparagraph (SX 210.4-08.(d),(e))

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Reference 10: http://www.xbrl.org/2003/role/presentationRef

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-Name Accounting Standards Codification

-Glossary Preferred Stock

-URI http://asc.fasb.org/extlink&oid=6521494

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Article 3

Reference 12: http://www.xbrl.org/2003/role/presentationRef

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-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 2

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Reference 13: http://www.xbrl.org/2003/role/presentationRef

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-Name Accounting Standards Codification

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-Paragraph 1

-Subparagraph (SX 210.3-04)

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Reference 15: http://www.xbrl.org/2003/role/presentationRef

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-Paragraph 11

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Reference 18: http://www.xbrl.org/2003/role/presentationRef

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-Name Regulation S-X (SX)

-Number 210

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-Paragraph d

-Article 4

Reference 19: http://www.xbrl.org/2003/role/presentationRef

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+ Details

Share Compensation and Pension Plans

12 Months Ended

Dec. 31, 2014

Share-based Compensation [Abstract]

Share Compensation and Pension Plans

The Company’s Amended and Restated 2007 Share Incentive Plan (the "Plan"), provides for grants of options, restricted common shares and restricted share units. The total number of common shares currently reserved for issuance under the Plan is 10,000,000. The Plan is administered by the Compensation Committee of the Board of Directors (the "Committee").

Share Options

Exercise prices of options are established at or above the fair market value of the Company’s common shares at the date of grant. Under the Plan, unless otherwise determined by the Committee and provided in an award agreement, 25% of the options will become exercisable on the first anniversary of the grant date, with an additional 6.25% of the options vesting each quarter thereafter based on the grantee’s continued employment over a four-year period, and will expire ten years after grant date.

The fair value of each option grant is separately estimated for each vesting date. The fair value of each option is amortized into compensation expense on a straight-line basis between the grant date for the award and each vesting date. The Company has estimated the fair value of all share option awards on the date of the grant by applying the Black-Scholes-Merton multiple-option pricing valuation model. The application of this valuation model involves assumptions that are judgmental and highly sensitive in the determination of compensation expense.

14. Share Compensation and Pension Plans (continued)

The key assumptions used in determining the fair value of options granted in 2014, 2013 and 2012 and a summary of the methodology applied to develop each assumption were as follows:



	2014		2013		2012
Assumptions:
Volatility	51.4	%	45.30 – 51.40	%	45.30 – 47.60	%
Risk-free interest rate	1.77	%	0.85 – 1.77	%	0.85 – 1.29	%
Weighted average expected lives in years	6.1 years		6.1 years		6.1 years
Forfeiture rate	3.45	%	1.60 – 3.45	%	1.60	%
Dividend yield rate	3.46	%	3.46 – 3.55	%	3.04 – 3.55	%

Expected Price Volatility — This is a measure of the amount by which a price has fluctuated or is expected to fluctuate. Maiden began trading on May 6, 2008, thus, has a maximum of 6.6 years trading history for estimating historical volatility. Maiden's expected volatility for 2014 of 51.4% was based on the average of its historical volatility, measured over the maximum available term. Prior to 2013, it was not possible to use actual experience to estimate the expected volatility of the price of the common shares in estimating the value of the options granted because the Company's common shares only began trading in May 2008, thus, it does not have enough history over which to calculate an expected volatility representative of the volatility over the expected lives of the options. As a substitute for such estimate, the Company blended its historical volatility with the historical volatilities of a set of comparable companies in the industry in which the Company operates.

Risk-Free Interest Rate — This is based on the yields on U.S. Treasury constant maturity notes with a term equal to the expected life of the option. An increase in the risk-free interest rate will increase compensation expense.

Expected Lives — This is the period of time over which the options granted are expected to remain outstanding giving consideration to vesting schedules, historical exercise and forfeiture patterns. The Company uses the simplified method outlined in SEC Staff Accounting Bulletin Codification Topic 14 (SAB 14) to estimate expected lives for options granted during the period as historical exercise data is not available and the options meet the requirements set out in the Bulletin. Options granted have a maximum term of ten years. An increase in the expected life will increase compensation expense.

Forfeiture Rate — This is the estimated percentage of options granted that are expected to be forfeited or cancelled before becoming fully vested. An increase in the forfeiture rate will decrease compensation expense.

Dividend Yield — This is calculated by dividing the expected annual dividend by the share price of the Company at the valuation date. An increase in the dividend yield will decrease compensation expense.

14. Share Compensation and Pension Plans (continued)

The following table shows all options granted, exercised, expired and exchanged under the Plan for the years ended December 31, 2014, 2013 and 2012:



	Number of Share Options		Weighted Average Exercise Price		Weighted Average Grant-Date Fair Value		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value		Range of Exercise Prices
Outstanding, December 31, 2011	2,916,143		$	6.61			7.55 years	$	6,866	$3.28 – 10.00
Granted	117,000		$	8.89	$	2.65				$8.14 – 9.42
Exercised	(122,519	)	$	3.90				$	616
Expired	(103,847	)	$	9.87
Forfeited	(11,340	)	$	7.54
Outstanding, December 31, 2012	2,795,437		$	6.70			6.75 years	$	7,271	$3.28 – 10.00
Granted	49,000		$	10.61	$	2.80				$9.99 - 11.22
Exercised	(289,614	)	$	6.13				$	1,397
Expired	(691	)	$	7.67
Forfeited	(114,719	)	$	8.51
Outstanding, December 31, 2013	2,439,413		$	6.76			5.75 years	$	10,174	$3.28 - 11.22
Granted	45,000		$	12.01	$	4.28				$11.38 - 12.42
Exercised	(120,596	)	$	4.91				$	930
Expired	—		$	—
Forfeited	(842	)	$	7.74
Outstanding, December 31, 2014	2,362,975		$	6.95			4.86 years	$	13,791	$3.28 - 12.42
Total options exercisable at December 31, 2014	2,276,100		$	6.81			4.72 years	$	13,616	$3.28 - 11.22

The weighted average grant date fair value was $2.11, $2.03 and $2.05 for all options outstanding at December 31, 2014, 2013 and 2012, respectively. There was $235 (2013 - $513) of total unrecognized compensation cost related to non-vested options at December 31, 2014 which will be recognized during the next 4 years. Cash in the amount of $592 was received from employees as a result of employee share option exercises during the year ended December 31, 2014 (2013 – $1,776, 2012 – $478). The Company issues new common shares upon the exercise of an option. In connection with these exercises, there was no tax benefit realized by the Company.

Restricted Shares and Share Units

The fair value of each restricted share or share unit is determined based on the market value of the Company's common shares on the date of grant. The total estimated fair value is amortized as an expense on a straight-line basis over the requisite service period as determined by the Committee.

Performance-Based Restricted Share Units

The Committee approved the formation of a long-term incentive program under the Plan on March 1, 2011. On that date, the Committee determined to award PB-RSUs to certain senior leaders of the Company. The formula for determining the amount of PB-RSUs awarded uses a combination of a percentage of the employee's base salary (based on a benchmarking analysis from our compensation consultant) divided by the closing price on NASDAQ of our common shares on that date. The grants are performance based which require that certain criteria such as operating return on common equity, underwriting performance, revenue growth and operating expense be met during the performance period to attain a payout. Each metric has a corresponding weighted percentage with a target, threshold and maximum level of performance goal set to achieve a payout. All prior, current and future PB-RSUs are paid 50% based on certain criteria stated above, while the other 50% of the payout is based upon the recommendation of the Company's CEO and the Committee's ultimate discretion of individual contribution to business results and strategic success for the performance period. Settlement of the grants can be made in either common shares or cash upon the decision of the Committee and the performance cycles are for three years.

14. Share Compensation and Pension Plans (continued)

Effective March 1, 2012, February 19, 2013 and February 18, 2014, the Committee approved the award of PB-RSUs to certain senior leaders of the Company for the fiscal years 2012-2014, 2013-2015 and 2014-2016, respectively.

CEO Non-Performance-Based Restricted Share Units

On March 1, 2012, the Committee approved an award of NPB-RSUs to the Company's CEO. The award fully vested on December 31, 2013.

On February 19, 2013, the Committee approved an award of NPB-RSUs to the Company's CEO with one-third automatically vested on February 19, 2014, with the next one-third automatically vesting on February 19, 2015, and of which the final one-third will automatically vest on February 19, 2016. The total fair value of the share units vested for the year ended December 31, 2014 was $500 (2013 - $nil).

On February 18, 2014, the Committee approved an award of NPB-RSUs to the Company's CEO with one-third automatically vested on December 31, 2014, with the next one-third automatically vesting on December 31, 2015, and of which the final one-third will automatically vest on December 31, 2016. The total fair value of the share units vested for the year ended December 31, 2014 was $266.

Non-CEO Discretionary Non-Performance-Based Restricted Shares ("NPB-RSs")

On February 19, 2013, pursuant to the Plan, the Committee approved an award of NPB-RSs to certain senior leaders of the Company. 50% of which vested on the first anniversary of the grant date, with an additional 50% due to vest on the second anniversary of the grant date. The total fair value of restricted shares which vested during the year ended December 31, 2014 was $479.

On February 18, 2014, pursuant to the Plan, the Committee approved an award of NPB-RSs to non-CEO named executive officers and senior leaders of the Company, 50% of which will vest on January 1, 2015, with an additional 50% due to vest on January 1, 2016.

The following schedule shows the summary of activity under the Company's restricted awards:



	CEO Non-Performance-Based Restricted Share Units				Non-CEO Non-Performance-Based Restricted Shares				Performance Based Restricted Share Units¹
	Number of Restricted Units		Weighted Average Grant-Date Fair Value		Number of Restricted Shares		Weighted Average Grant-Date Fair Value		Number of Restricted Units		Weighted Average Grant-Date Fair Value
Non-vested at December 2011	—		—		—		—		321,600		$	7.97
Awards granted	86,705		$	8.56	—		—		538,906		$	8.56
Awards vested	—		—		—		—		—		—
Awards forfeited	—		—		—		—		—		—
Non-vested December 31, 2012	86,705		$	8.56	—		—		860,506		$	8.34
Awards granted	149,701		$	10.02	95,590		$	10.02	359,652		$	10.02
Awards vested	(86,705	)	$	8.56	—		—		—		—
Awards forfeited	—		—		—		—		(466,296	)	$	8.31
Non-vested at December 31, 2013	149,701		$	10.02	95,590		$	10.02	753,862		$	9.21
Awards granted	70,298		$	11.38	38,522		$	11.38	396,672		$	11.38
Awards vested	(73,333	)	$	10.45	(47,795	)	$	10.02	(100,308	)	$	8.56
Awards forfeited	—		—		—		—		(242,456	)	$	8.56
Non-vested at December 31, 2014	146,666		$	10.45	86,317		$	10.63	807,770		$	10.51

1) For Performance Shares, the number of shares is stated at the maximum number that can be attained if the performance conditions are met. Forfeitures represent shares forfeited due to vesting below the maximum attainable as a result of the Company not fully meeting the performance conditions.

14. Share Compensation and Pension Plans (continued)

There was $1,102 and $285 of total unrecognized compensation cost related to RSUs and restricted shares at December 31, 2014, which will be recognized during the next 1.6 years and 0.8 years, respectively.

The adoption of ASC Topic 718 "Compensation - Stock Compensation" fair value method has resulted in share-based expense in the amount of $3,334, $2,205 and $1,347 for the years ended December 31, 2014, 2013 and 2012, respectively.

Pension Plans

The Company provides pension benefits to eligible employees principally through various defined contribution plans sponsored by the Company which vary for each subsidiary. The Company’s expenses for its defined contribution plans were $2,809, $2,892 and $2,529 for the years ended December 31, 2014, 2013 and 2012, respectively.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References+ Details

Taxation

12 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

Taxation

Under current Bermuda law, Maiden Holdings and Maiden Bermuda, have received an undertaking from the Bermuda government exempting them from all local income, withholding and capital gains taxes until March 31, 2035. At the present time, no such taxes are levied in Bermuda. Maiden Holdings and Maiden Bermuda believe that they operate in a manner such that they will not be considered to be engaged in a trade or business in the U.S. Accordingly, Maiden Holdings and Maiden Bermuda have not recorded any provision for U.S. taxation.

Our U.S. subsidiaries are subject to federal, state and local corporate income taxes and other taxes applicable to U.S. corporations. The provision for federal income taxes has been determined under the principles of the consolidated tax provisions of the U.S. Internal Revenue Code and Regulations. Should the U.S. subsidiaries pay a dividend outside the U.S. group, withholding taxes will apply. Tax years 2011, 2012 and 2013 are not under examination but remain subject to examination in the U.S.

The Company has subsidiary operations in various other locations around the world, including but not limited to Australia, Austria, Germany, Netherlands, Russia, Sweden and the U.K., that are subject to relevant taxes in those jurisdictions.

Deferred income taxes have not been accrued with respect to certain undistributed earnings of foreign subsidiaries as it is the intention that such earnings will remain reinvested or will not be taxable. If the earnings were to be distributed, as dividends or otherwise, such amounts may be subject to withholding tax in the country of the paying entity. Currently, however, no withholding taxes have been accrued.

There were no unrecognized tax benefits at December 31, 2014, 2013 and 2012. Income before taxes and income tax expense for the years ended December 31, 2014, 2013 and 2012 was as follows:



For the Year Ended December 31,	2014			2013			2012
Income before income taxes – Domestic (Bermuda)	$	117,780		$	125,926		$	72,286
Income before income taxes – Foreign (U.S. and others)	(14,083		)	(21,207		)	(19,812		)
Total income before income taxes	$	103,697		$	104,719		$	52,474

Current tax expense – Domestic (Bermuda)	$	—		$	—		$	—
Current tax expense – Foreign (U.S. and others)	945			873			1,020
Total current tax expense	945			873			1,020
Deferred tax expense – Domestic (Bermuda)	—			—			—
Deferred tax expense – Foreign (U.S. and others)	1,219			990			1,193
Total deferred tax expense	1,219			990			1,193
Total income tax expense	$	2,164		$	1,863		$	2,213

15. Taxation (continued)

The following table is a reconciliation of the actual income tax rate for the years ended December 31, 2014, 2013 and 2012 to the amount computed by applying the effective tax rate of 0.0% under Bermuda law to income before income taxes:



For the Year Ended December 31,	2014			2013			2012
Income before income taxes	$	103,697		$	104,719		$	52,474
Income tax expense	2,164			1,863			2,213
Net income	$	101,533		$	102,856		$	50,261
Reconciliation of effective tax rate (% of income before income taxes)
Bermuda tax rate	—		%	—		%	—		%
U.S. taxes at statutory rates	(7.3		)%	(8.7		)%	(9.4		)%
Valuation allowance in respect of U.S. taxes	8.5		%	9.8		%	11.7		%
Other jurisdictions	0.9		%	0.7		%	1.9		%
Actual tax rate	2.1		%	1.8		%	4.2		%

Deferred income taxes reflect the tax impact of temporary differences between the carrying amounts of assets and liabilities for financial reporting and income tax purposes. The significant components of our deferred tax assets and liabilities at December 31, 2014 and 2013 were as follows:



December 31,	2014		2013
Deferred tax assets:
Net operating losses	$	54,524	$	51,569
Unearned premiums	8,860		9,364
Discounting of net loss and loss adjustment expense reserves	12,250		11,678
Net unrealized losses on investments	—		5,236
Accruals not currently deductible	1,994		1,879
Amortization of intangibles	3,021		3,093
Others	1,870		1,065
Deferred tax assets before valuation allowance	82,519		83,884
Valuation allowance	65,743		67,013
Deferred tax assets, net	16,776		16,871
Deferred tax liabilities:
Deferred commission and other acquisition expenses	10,119		15,587
Indefinite lived intangible	2,870		2,870
Amortization of goodwill	7,158		5,997
Net unrealized gains on investments	4,831		—
Others	1,789		1,105
Deferred tax liabilities	26,767		25,559
Net deferred tax liability	$	9,991	$	8,688

The net deferred tax liability at December 31, 2014 was $9,991 (2013 - $8,688). A valuation allowance has been established against the net U.S. deferred tax assets which is primarily attributable to net operating losses, unearned premium and loss reserve discounting. At this time, we believe it is necessary to establish a valuation allowance against the net deferred tax assets due to insufficient positive evidence regarding the utilization of these losses. During 2014, the Company recorded a decrease in the valuation allowance of $1,270 (2013 - increase of $25,782).

At December 31, 2014, the Company has an available U.S. net operating loss carry-forward of approximately $155,782 (2013 - $147,339) for income tax purposes which expires beginning in 2029.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References+ Details

Statutory Requirements and Dividend Restrictions

12 Months Ended

Dec. 31, 2014

Statutory Financial Information [Abstract]

Statutory Requirements and Dividend Restrictions

Our insurance and reinsurance operations are subject to insurance and/or reinsurance laws and regulations in the jurisdictions in which they operate, the most significant of which are Bermuda, the United States and Sweden. These regulations include certain liquidity and solvency requirements whereby restrictions are imposed on the amount of dividends or other distributions, such as loans or cash advances, available to shareholders without prior approval of the insurance regulatory authorities.

The combined statutory capital and combined statutory net income (loss) of our principal operating subsidiaries in their respective jurisdictions were as follows:



	Maiden Bermuda		Maiden US			Maiden Specialty		Maiden LF
Statutory Capital and Surplus
December 31, 2014	$	1,289,155	$	288,065		$	51,883	$	8,530
December 31, 2013	1,106,096		269,598			48,940		9,235

Statutory Net Income (Loss)
For the Year Ended December 31, 2014	$	60,016	$	16,614		$	3,006	$	1,436
For the Year Ended December 31, 2013	109,326		(1,305		)	2,899		340
For the Year Ended December 31, 2012	79,714		(19,156		)	1,227		464

At December 31, 2014, the Company's net assets were $1,241,166 (2013- $1,124,295), of which $718,050 (2013 - $264,629) are restricted primarily as a result of solvency and liquidity requirements imposed on the Company's insurance subsidiaries by local regulators as well as collateral requirements under various reinsurance agreements.

a) Bermuda

The Bermuda Monetary Authority ("BMA") is the group supervisor of the Company and has advised that Maiden Bermuda is the designated insurer. These regulations require that a group’s available statutory capital and surplus should be equal to or exceed the value of both its Minimum Solvency Margin ("MSM") and the Enhanced Capital Requirement ("ECR"). At December 31, 2014, the Company's ECR is 60% of the amount calculated using the group Bermuda Solvency Requirement ("BSCR") model of the BMA. The Company has complied with its regulatory capital requirements at December 31, 2014.

Maiden Bermuda is registered as a Class 3B reinsurer under The Insurance Act 1978 (Bermuda), amendments thereto and related regulations (the "Insurance Act") and is required to prepare and file Statutory Financial Statements and a Statutory Financial Return with the BMA. For Bermuda registered insurance companies, there are some differences between financial statements prepared in accordance with U.S. GAAP and those prepared on a statutory basis. Certain assets are non-admitted under Bermuda regulations and so deferred commission and other acquisition expenses have been fully expensed and prepaid expenses and fixed assets removed from the statutory balance sheet.

Under the Insurance Act, Maiden Bermuda is required to maintain a minimum share capital of $120 and a minimum statutory capital and surplus equal to the greater of MSM and the ECR. ECR is established by reference to the BSCR model. The BSCR employs a standard mathematical model that correlates the risk underwritten to the capital that is dedicated to the business. The regulatory requirements are designed to have insurers operate at or above a threshold capital level, which exceeds the BSCR. The BMA has established a target capital level ("TCL") for each Class 3B insurer equal to 120% of its ECR which serves as an early warning tool for the BMA and failure to maintain statutory capital of at least equal to the TCL will likely result in increased BMA regulatory oversight.

The statutory capital and surplus of Maiden Bermuda at December 31, 2014 was $1,289,155 (2013 – $1,106,096) and the amount required to be maintained was $302,341 at December 31, 2014 (2013 – $255,327). Maiden Bermuda is also required to maintain a minimum liquidity ratio. All requirements were met by Maiden Bermuda throughout the period.

Maiden Bermuda is prohibited from declaring or paying dividends of more than 25% of its total statutory capital and surplus, as shown in its previous financial year statutory balance sheet, unless at least seven days before payment of the dividends it files with the BMA an affidavit that it will continue to meet its minimum capital requirements as described above. In addition, Maiden Bermuda must obtain the BMA’s prior approval before reducing its total statutory capital, as shown in its previous financial year statutory balance sheet, by 15% or more. Maiden Bermuda is also restricted in paying dividends that would result in Maiden Bermuda failing to comply with the ECR as calculated based on the BSCR or cause Maiden Bermuda to fail to meet its relevant margins. Based upon the BSCR calculation, Maiden Bermuda is allowed to pay dividends or distributions not exceeding $222,489.

16. Statutory Requirements and Dividend Restrictions (continued)

b) United States

The Company’s insurance subsidiaries in the U.S., Maiden US and Maiden Specialty, file financial statements in accordance with statutory accounting practices ("SAP") prescribed or permitted by state insurance regulatory authorities. The minimum statutory capital and surplus necessary to satisfy regulatory requirements for Maiden US and Maiden Specialty for the year ended December 31, 2014 were $82,267 and $45,000, respectively (2013 - $80,987 and $45,000, respectively). These requirements were met by Maiden US and Maiden Specialty throughout the year ended December 31, 2014. Without prior approval of its domiciliary commissioner, dividends to shareholders are limited by the laws of the U.S. companies’ state of domicile, Missouri and North Carolina, respectively, to the greater of 10% of statutory policyholders’ surplus at the preceding December 31, or net income, less net realized capital gain on investments, for the 12-month period ending December 31 of the preceding year. Additionally, Maiden US may only pay dividends if it has positive unassigned funds. Accordingly, the maximum dividend payments that can be made to shareholders in the next year without prior approval by the Missouri Department of Insurance and North Carolina Department of Insurance is $0 and $5,174, respectively.

c) Sweden

The Company’s insurance subsidiary in Sweden, Maiden LF, is regulated by the Swedish Finansinspektionen ("Swedish FSA"). Maiden LF was required to maintain a minimum level of statutory capital and surplus of $4,477 at December 31, 2014 (2013 - $5,096). This requirement was met by Maiden LF throughout the year. Maiden LF is subject to statutory and regulatory restrictions under the Swedish FSA that limit the maximum amount of annual dividends or distributions paid by Maiden LF to Maiden Holdings. At December 31, 2014, Maiden LF is allowed to pay dividends or distributions not exceeding $2,508.

Condensed Quarterly Financial Data - Unaudited

12 Months Ended

Dec. 31, 2014

Quarterly Financial Information Disclosure [Abstract]

Condensed Quarterly Financial Data — Unaudited

The following tables summarize our quarterly financial data:



2014 Quarters Ended	March 31			June 30		September 30		December 31
Total revenues	$	552,322		$	563,422	$	623,506	$	641,917
Net income	2,061			31,915		33,926		33,631
Net (loss) income attributable to Maiden common shareholders	(4,062		)	25,804		27,798		27,514
Comprehensive income - attributable to Maiden	39,816			86,260		3,176		41,648
Basic (loss) earnings per common share attributable to Maiden common shareholders	$	(0.06	)	$	0.35	$	0.38	$	0.38
Diluted (loss) earnings per common share attributable to Maiden common shareholders	$	(0.06	)	$	0.34	$	0.36	$	0.36



2013 Quarters Ended	March 31		June 30			September 30		December 31
Total revenues	$	518,919	$	536,745		$	535,127	$	519,265
Net income	28,107		23,331			25,033		26,385
Net income attributable to Maiden common shareholders	24,986		20,205			21,904		20,806
Comprehensive income (loss) - attributable to Maiden	20,048		(61,764		)	25,581		3,524
Basic earnings per common share attributable to Maiden common shareholders	$	0.35	$	0.28		$	0.30	$	0.29
Diluted earnings per common share attributable to Maiden common shareholders	$	0.34	$	0.27		$	0.30	$	0.27

- Definition

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

+ References+ Details

Schedule I Summary of Investments, Other than Investments in Related Parties

12 Months Ended

Dec. 31, 2014

Summary of Investments, Other than Investments in Related Parties [Abstract]

Schedule I Summary of Investments Other than Investments in Related Parties

Schedule I

MAIDEN HOLDINGS, LTD.
SUMMARY OF INVESTMENTS
OTHER THAN INVESTMENTS IN RELATED PARTIES
(in thousands of U.S. dollars)



December 31, 2014	Amortized Cost*		Fair Value		Amount at Which Shown in the Balance Sheet
AFS fixed maturities:
U.S. treasury bonds	$	8,937	$	9,360	$	9,360
U.S. agency bonds – mortgage-backed	1,313,834		1,322,443		1,322,443
U.S. agency bonds – other	7,213		7,988		7,988
Non-U.S. government and supranational bonds	54,467		51,643		51,643
Other mortgage-backed bonds	52,337		54,780		54,780
Corporate bonds	1,831,431		1,895,379		1,895,379
Municipal bonds - other	62,153		65,819		65,819
Short-term investments	49,492		49,492		49,492
Total AFS fixed maturities	3,379,864		3,456,904		3,456,904
Other investments	10,862		12,571		12,571
Total investments	$	3,390,726	$	3,469,475	$	3,469,475

* Original cost of other investments and, for fixed maturities, original cost reduced by repayments and adjusted for amortization of premiums or discounts

- Definition

The entire disclosure for the schedule applicable to insurance companies summarizing investments held as of the most recent audited balance sheet. At a minimum, such summary is by three major categories of investments including: (1) fixed maturities primarily consisting of bonds, including convertibles and bonds with warrants, and redeemable preferred stocks, (2) equity securities primarily consisting of common stocks and nonredeemable preferred stocks, and (3) other investments including mortgage loans on real estate, real estate held for investment, real estate acquired in satisfaction of debt, policy loans, other long-term investments, and short-term investments not otherwise categorized. The information provided with respect to each item within each category includes: (A) the original cost of equity securities and, as to fixed maturity securities, original cost reduced by repayments and adjusted for amortization of premiums or accrual of discounts, (B) fair value as of the reporting date, and (C) the amount at which the item within each category is shown in the statement of financial position; with respect to (C), if the amount at which shown in the statement of financial position is different from the items original [amortized] cost or fair value, an explanation of the difference may be included herein.

+ References+ Details

Schedule II Condensed Financial Information of Parent Company

12 Months Ended

Dec. 31, 2014

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Schedule II Condensed Financial Information of Parent Company

Schedule II

MAIDEN HOLDINGS, LTD.
CONDENSED BALANCE SHEETS — PARENT COMPANY
As of December 31, 2014 and 2013

(In thousands of U.S. dollars, except share and per share data)



	2014			2013
Assets
Fixed maturities, available-for-sale, at fair value (Amortized cost 2014: $43,995; 2013: $135,999)	$	44,270		$	131,798
Other investments, at fair value (Cost 2014: $5,000)	5,990			—
Cash and cash equivalents	6,894			33,061
Investment in subsidiaries	1,591,000			1,331,195
Balances due from subsidiaries	99,809			13,097
Other assets	1,387			1,925
Total assets	$	1,749,350		$	1,511,076
Liabilities
Accrued expenses and other liabilities	$	11,226		$	9,872
Balances due to subsidiaries	497,430			377,361
Total liabilities	508,656			387,233
Shareholders’ equity
Preference shares	315,000			315,000
Common shares ($0.01 par value; 73,900,889 and 73,595,897 shares issued in 2014 and 2013, respectively; 72,932,702 and 72,633,561 shares outstanding in 2014 and 2013, respectively)	739			736
Additional paid-in capital	578,445			574,522
Accumulated other comprehensive income	95,293			25,784
Retained earnings	255,084			211,602
Treasury shares, at cost (968,187 and 962,336 shares in 2014 and 2013, respectively)	(3,867		)	(3,801		)
Total shareholders’ equity	1,240,694			1,123,843
Total liabilities and shareholders’ equity	$	1,749,350		$	1,511,076

Schedule II

MAIDEN HOLDINGS, LTD.
CONDENSED STATEMENTS OF INCOME — PARENT COMPANY
For the Years Ended December 31, 2014, 2013 and 2012
(In thousands of U.S. dollars)



For the Year Ended December 31,	2014			2013			2012
Revenues
Net investment income	$	4,892		$	2,773		$	795
Net realized gains on investment	981			—			229
	5,873			2,773			1,024
Expenses
General and administrative expenses	14,588			11,732			8,030
Foreign exchange losses (gains)	893			(626		)	(225		)
	15,481			11,106			7,805
Loss before equity in earnings of consolidated subsidiaries	(9,608		)	(8,333		)	(6,781		)
Equity in earnings of consolidated subsidiaries	110,999			111,068			56,935
Net income attributable to Maiden	101,391			102,735			50,154
Dividends on preference shares	(24,337		)	(14,834		)	(3,644		)
Net income attributable to Maiden common shareholders	$	77,054		$	87,901		$	46,510

Schedule II

MAIDEN HOLDINGS, LTD.
CONDENSED STATEMENTS OF CASH FLOWS — PARENT COMPANY
For the Years Ended December 31, 2014, 2013 and 2012
(In thousands of U.S. dollars)



For the Year Ended December 31,	2014			2013			2012
Cash flows provided by operating activities
Net income attributable to Maiden	$	101,391		$	102,735		$	50,154
Adjustments to reconcile net income to cash provided by operating activities:
Equity in earnings of consolidated subsidiaries	(110,999		)	(111,068		)	(56,935		)
Amortization of bond premium and discount	414			1,209			786
Net realized gains on investment	(981		)	—			(229		)
Foreign exchange losses (gains)	893			(626		)	(225		)
Non-cash share compensation expense	3,334			2,205			1,347
Changes in assets - (increase) decrease:
Balance due from subsidiaries	(87,605		)	42,899			82,588
Other assets	536			(862		)	(829)
Changes in liabilities - increase (decrease)
Accounts payable and accrued liabilities	(204		)	736			(1,579)
Balances due to subsidiaries	120,069			16,642			15,524
Net cash provided by operating activities	26,848			53,870			90,602
Cash flows used in investing activities
Purchases of fixed-maturities – available-for-sale	(1,340		)	(170,882		)	(137,486		)
Purchases of other investments	(5,000		)	—			—
Proceeds from sales of fixed-maturities – available-for-sale	87,032			90,515			9,452
Proceeds from maturities and calls of fixed maturities - available-for-sale	6,857			46,208			24,427
Investment in subsidiaries	(84,740		)	(116,807		)	(96,643		)
Net cash provided by (used in) investing activities	2,809			(150,966		)	(200,250		)
Cash flows used in financing activities
Preference shares issuance, net of issuance costs	—			159,675			145,041
Dividends paid - preference shares	(24,337		)	(14,834		)	(3,644		)
Dividends paid - Maiden common shareholders	(32,079		)	(19,607		)	(29,630		)
Issuance of common shares	592			1,776			478
Net cash (used in) provided by financing activities	(55,824		)	127,010			112,245
Net (decrease) increase in cash and cash equivalents	(26,167		)	29,914			2,597
Cash and cash equivalents, beginning of year	33,061			3,147			550
Cash and cash equivalents, end of year	$	6,894		$	33,061		$	3,147

- Definition

The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document.

+ References+ Details

Schedule III Supplementary Insurance Information

12 Months Ended

Dec. 31, 2014

Supplementary Insurance Information [Abstract]

Schedule III Supplementary Insurance Information

Schedule III

MAIDEN HOLDINGS, LTD.
SUPPLEMENTARY INSURANCE INFORMATION
(In thousands of U.S. dollars)



	December 31, 2014							For the Year Ended December 31, 2014
	Deferred commission and other acquisition expenses			Reserve for loss and loss adjustment expenses		Unearned premiums		Net premiums earned		Net investment income		Net loss and loss adjustment expenses		Amortization of deferred commission and other acquisition expenses		General and admin. expenses		Net premiums written
Diversified Reinsurance	$	87,289		$	1,058,924	$	293,893	$	854,026	$	—	$	579,771	$	233,711	$	42,914	$	850,049
AmTrust Reinsurance	285,232			1,122,479		913,861		1,378,327		—		893,502		418,908		2,098		1,610,485
Total - Reportable Segments	372,521			2,181,403		1,207,754		2,232,353		—		1,473,273		652,619		45,012		2,460,534
Other	(34		)	89,889		3		19,390		117,215		24,998		6,696		17,925		(2,398		)
Total	$	372,487		$	2,271,292	$	1,207,757	$	2,251,743	$	117,215	$	1,498,271	$	659,315	$	62,937	$	2,458,136



	December 31, 2013						For the Year Ended December 31, 2013
	Deferred commission and other acquisition expenses		Reserve for loss and loss adjustment expenses		Unearned premiums		Net premiums earned		Net investment income		Net loss and loss adjustment expenses		Amortization of deferred commission and other acquisition expenses		General and admin. expenses		Net premiums written
Diversified Reinsurance	$	88,721	$	1,010,195	$	321,659	$	753,157	$	—	$	519,962	$	190,604	$	42,331	$	763,374
AmTrust Reinsurance	209,439		803,597		687,357		988,900		—		653,528		291,559		1,992		1,169,961
Total - Reportable Segments	298,160		1,813,792		1,009,016		1,742,057		—		1,173,490		482,163		44,323		1,933,335
Other	6,748		144,043		25,738		258,830		91,352		176,140		74,415		14,338		162,966
Total	$	304,908	$	1,957,835	$	1,034,754	$	2,000,887	$	91,352	$	1,349,630	$	556,578	$	58,661	$	2,096,301



	December 31, 2012						For the Year Ended December 31, 2012
	Deferred commission and other acquisition expenses		Reserve for loss and loss adjustment expenses		Unearned premiums		Net premiums earned		Net investment income		Net loss and loss adjustment expenses		Amortization of deferred commission and other acquisition expenses		General and admin. expenses		Net premiums written
Diversified Reinsurance	$	84,130	$	1,003,349	$	296,581	$	775,177	$	—	$	549,405	$	205,307	$	40,951	$	745,679
AmTrust Reinsurance	153,530		530,270		503,915		727,783		—		496,370		200,547		1,949		840,348
Total - Reportable Segments	237,660		1,533,619		800,496		1,502,960		—		1,045,775		405,854		42,900		1,586,027
Other	33,009		206,662		136,001		300,820		81,188		216,573		86,177		10,904		315,258
Total	$	270,669	$	1,740,281	$	936,497	$	1,803,780	$	81,188	$	1,262,348	$	492,031	$	53,804	$	1,901,285

- Definition

The entire disclosure for required supplementary insurance information giving segment detail in support of various balance sheet and income statement captions. The balance sheet information generally is presented as of the date of each audited balance sheet filed, and the income statement information generally is presented for each period for which an audited income statement is required to be filed. Supplementary insurance information table includes segment name; deferred policy acquisition costs; future policy benefits, losses, claims and loss expenses; unearned premiums; other policy claims and benefits payable; premium revenue; net investment income; benefits, claims, losses and settlement expenses; amortization of deferred policy acquisition costs; other operating expenses; and premiums written.

+ References+ Details

Schedule IV Supplementary Reinsurance Information

12 Months Ended

Dec. 31, 2014

Supplemental Schedule of Reinsurance Premiums for Insurance Companies [Abstract]

Schedule IV Supplementary Reinsurance Information

Schedule IV

MAIDEN HOLDINGS, LTD.
SUPPLEMENTARY REINSURANCE INFORMATION
(In thousands of U.S. dollars)



For the Year Ended December 31,	(a) Gross		(b) Ceded to other companies		(c) Assumed from other companies		(d) Net amount (a) - (b) + (c)		Percentage of amount to net (c)/(d)
2014 Premiums – General Insurance	$	48,565	$	49,216	$	2,458,787	$	2,458,136	100.0	%
2013 Premiums – General Insurance	104,976		107,858		2,099,183		2,096,301		100.1	%
2012 Premiums – General Insurance	122,412		99,707		1,878,580		1,901,285		98.8	%

Schedule VI

MAIDEN HOLDINGS, LTD.
SUPPLEMENTARY INSURANCE INFORMATION
CONCERNING PROPERTY/CASUALTY INSURANCE OPERATIONS
(In thousands of U.S. dollars)



	Net loss and loss adjustment expenses					Paid loss and loss adjustment expenses
For the Year Ended December 31,	Current Year		Prior Year			Paid loss and loss adjustment expenses
2014	$	1,479,425	$	18,846		$	1,135,791
2013	1,351,043		(1,413		)	1,116,096
2012	1,239,016		23,332			1,015,309

Schedule VI Supplementary Reinsurance Information

12 Months Ended

Dec. 31, 2014

Supplemental Schedule of Reinsurance Premiums for Insurance Companies [Abstract]

Schedule VI Supplementary Reinsurance Information

Schedule IV

MAIDEN HOLDINGS, LTD.
SUPPLEMENTARY REINSURANCE INFORMATION
(In thousands of U.S. dollars)



For the Year Ended December 31,	(a) Gross		(b) Ceded to other companies		(c) Assumed from other companies		(d) Net amount (a) - (b) + (c)		Percentage of amount to net (c)/(d)
2014 Premiums – General Insurance	$	48,565	$	49,216	$	2,458,787	$	2,458,136	100.0	%
2013 Premiums – General Insurance	104,976		107,858		2,099,183		2,096,301		100.1	%
2012 Premiums – General Insurance	122,412		99,707		1,878,580		1,901,285		98.8	%

Schedule VI

MAIDEN HOLDINGS, LTD.
SUPPLEMENTARY INSURANCE INFORMATION
CONCERNING PROPERTY/CASUALTY INSURANCE OPERATIONS
(In thousands of U.S. dollars)



	Net loss and loss adjustment expenses					Paid loss and loss adjustment expenses
For the Year Ended December 31,	Current Year		Prior Year			Paid loss and loss adjustment expenses
2014	$	1,479,425	$	18,846		$	1,135,791
2013	1,351,043		(1,413		)	1,116,096
2012	1,239,016		23,332			1,015,309

Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2014

Accounting Policies [Abstract]

Basis of Reporting and Consolidation

Estimates


•	reserve for loss and loss adjustment expenses;


•	recoverability of deferred commission and other acquisition expenses;


•	determination of impairment of goodwill and other intangible assets;


•	valuation of financial instruments; and


•	determination of other-than-temporary impairment of investments.

Investments

2. Significant Accounting Policies (continued)

Unrealized gains or losses on fixed maturities and other investments are reported as a component of accumulated other comprehensive income (loss) ("AOCI").


•	Historic and implied volatility of the security;


•	Length of time and extent to which the fair value has been less than amortized cost;


•	Adverse conditions specifically related to the security or to specific conditions in an industry or geographic area;


•	Failure, if any, of the issuer of the security to make scheduled payments; and


•	Recoveries or additional declines in fair value subsequent to the balance sheet date.

Fair Value Measurements

•

2. Significant Accounting Policies (continued)

•


•	Level 3 — Valuations based on models where significant inputs are not observable. The unobservable inputs reflect our own assumptions about assumptions that market participants would use. Examples of assets and liabilities utilizing Level 3 inputs include: insurance and reinsurance derivative contracts; and hedge and credit funds with partial transparency.

Cash and Cash Equivalents

Premiums and Related Costs

Assumed and ceded reinsurance contracts that lack a significant transfer of risk are treated as deposits.

2. Significant Accounting Policies (continued)

Loss and Loss Adjustment Expenses Incurred

Debt Obligations and Deferred Debt Issuance Costs

Business Combinations, Goodwill and Intangible Assets

Noncontrolling Interests

Income Taxes

Share-Based Compensation Expense

2. Significant Accounting Policies (continued)

Earnings Per Share

Treasury Shares

Foreign Currency Transactions

Recently Adopted Accounting Standards Updates

Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carry-forward, a Similar Tax Loss, or a Tax Credit Carry-forward Exists


•	To the extent a NOL carry-forward, a similar tax loss, or a tax credit carry-forward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position; and


•	The entity does not intend to use the deferred tax asset for this purpose.

Parent's Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity

2. Significant Accounting Policies (continued)

Recently Issued Accounting Standards Not Yet Adopted

Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity


•	The component has been disposed of or is classified as held for sale;


•	The operations and cash flows of the component have been (or will be) eliminated from the ongoing operations of the entity as a result of the disposal transaction; and


•	The entity will not have any significant continuing involvement in the operations of the component after the disposal transaction.

Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period

2. Significant Accounting Policies (continued)

Segment Information (Tables)

12 Months Ended

Dec. 31, 2014

Segment Reporting [Abstract]

Underwriting results of operating segments

The following tables summarize our reporting segment's underwriting results and the reconciliation of our reportable segments and Other category's underwriting results to our consolidated net income:



For the Year Ended December 31, 2014	Diversified Reinsurance			AmTrust Reinsurance			Other			Total
Net premiums written	$	850,049		$	1,610,485		$	(2,398	)	$	2,458,136
Net premiums earned	$	854,026		$	1,378,327		$	19,390		$	2,251,743
Other insurance revenue	13,410			—			—			13,410
Net loss and loss adjustment expenses	(579,771		)	(893,502		)	(24,998		)	(1,498,271		)
Commission and other acquisition expenses	(233,711		)	(418,908		)	(6,696		)	(659,315		)
General and administrative expenses	(42,914		)	(2,098		)	(757		)	(45,769		)
Underwriting income (loss)	$	11,040		$	63,819		$	(13,061	)	61,798
Reconciliation to net income
Net investment income and realized gains on investment										118,378
Net impairment losses recognized in earnings										(2,364		)
Amortization of intangible assets										(3,277		)
Foreign exchange and other gains										4,150
Interest and amortization expenses										(29,580		)
Accelerated amortization of junior subordinated debt discount and issuance cost										(28,240		)
Other general and administrative expenses										(17,168		)
Income tax expense										(2,164		)
Net income										$	101,533

Net loss and loss adjustment expense ratio*	66.8		%	64.8		%	128.9		%	66.1		%
Commission and other acquisition expense ratio**	26.9		%	30.4		%	34.5		%	29.1		%
General and administrative expense ratio***	5.0		%	0.2		%	4.0		%	2.8		%
Combined ratio****	98.7		%	95.4		%	167.4		%	98.0		%

3. Segment Information (continued)



For the Year Ended December 31, 2013	Diversified Reinsurance			AmTrust Reinsurance			Other			Total
Net premiums written	$	763,374		$	1,169,961		$	162,966		$	2,096,301
Net premiums earned	$	753,157		$	988,900		$	258,830		$	2,000,887
Other insurance revenue	14,232			—			—			14,232
Net loss and loss adjustment expenses	(519,962		)	(653,528		)	(176,140		)	(1,349,630		)
Commission and other acquisition expenses	(190,604		)	(291,559		)	(74,415		)	(556,578		)
General and administrative expenses	(42,331		)	(1,992		)	(707		)	(45,030		)
Underwriting income	$	14,492		$	41,821		$	7,568		63,881
Reconciliation to net income
Net investment income and realized gains on investment										94,937
Amortization of intangible assets										(3,780		)
Foreign exchange and other gains										2,809
Interest and amortization expenses										(39,497		)
Other general and administrative expenses										(13,631		)
Income tax expense										(1,863		)
Net income										$	102,856

Net loss and loss adjustment expense ratio*	67.8		%	66.1		%	68.1		%	67.0		%
Commission and other acquisition expense ratio**	24.8		%	29.5		%	28.8		%	27.6		%
General and administrative expense ratio***	5.5		%	0.2		%	0.2		%	2.9		%
Combined ratio****	98.1		%	95.8		%	97.1		%	97.5		%

3. Segment Information (continued)



For the Year Ended December 31, 2012	Diversified Reinsurance			AmTrust Reinsurance			Other			Total
Net premiums written	$	745,679		$	840,348		$	315,258		$	1,901,285
Net premiums earned	$	775,177		$	727,783		$	300,820		$	1,803,780
Other insurance revenue	12,890			—			—			12,890
Net loss and loss adjustment expenses	(549,405		)	(496,370		)	(216,573		)	(1,262,348		)
Commission and other acquisition expenses	(205,307		)	(200,547		)	(86,177		)	(492,031		)
General and administrative expenses	(40,951		)	(1,949		)	(737		)	(43,637		)
Underwriting (loss) income	$	(7,596	)	$	28,917		$	(2,667	)	18,654
Reconciliation to net income
Net investment income and realized gains on investment										83,095
Amortization of intangible assets										(4,362		)
Foreign exchange and other gains										1,638
Interest and amortization expenses										(36,384		)
Other general and administrative expenses										(10,167		)
Income tax expense										(2,213		)
Net income										$	50,261

Net loss and loss adjustment expense ratio*	69.7		%	68.2		%	72.0		%	69.5		%
Commission and other acquisition expense ratio**	26.1		%	27.5		%	28.6		%	27.1		%
General and administrative expense ratio***	5.2		%	0.3		%	0.3		%	2.9		%
Combined ratio****	101.0		%	96.0		%	100.9		%	99.5		%


*	Calculated by dividing net loss and LAE by the sum of net premiums earned and other insurance revenue.


**	Calculated by dividing commission and other acquisition expenses by the sum of net premiums earned and other insurance revenue.


***	Calculated by dividing general and administrative expenses by the sum of net premiums earned and other insurance revenue.


****	Calculated by adding together net loss and loss adjustment expense ratio, commission and other acquisition expense ratio and general and administrative expense ratio.

3. Segment Information (continued)

The following tables summarize the financial position of our reportable segments including the reconciliation to our consolidated assets at December 31, 2014 and 2013:



December 31, 2014	Diversified Reinsurance		AmTrust Reinsurance		Total
Reinsurance balances receivable, net	$	245,782	$	256,779	$	502,561
Reinsurance recoverable on unpaid losses	31,272		—		31,272
Deferred commission and other acquisition expenses	87,289		285,232		372,521
Loan to related party	—		167,975		167,975
Goodwill and intangible assets, net	87,336		—		87,336
Restricted cash and cash equivalents and investments	1,132,953		1,930,502		3,063,455
Other assets	40,032		—		40,032
Total assets - reportable segments	1,624,664		2,640,488		4,265,152
Corporate assets	—		—		898,940
Total Assets	$	1,624,664	$	2,640,488	$	5,164,092

December 31, 2013	Diversified Reinsurance		AmTrust Reinsurance		Total
Reinsurance balances receivable, net	$	261,285	$	278,573	$	539,858
Reinsurance recoverable on unpaid losses	36,696		—		36,696
Deferred commission and other acquisition expenses	88,721		209,439		298,160
Loan to related party	—		167,975		167,975
Goodwill and intangible assets, net	90,613		—		90,613
Restricted cash and cash equivalents and investments	1,025,629		1,102,317		2,127,946
Other assets	61,462		—		61,462
Total assets - reportable segments	1,564,406		1,758,304		3,322,710
Corporate assets	—		—		1,390,669
Total Assets	$	1,564,406	$	1,758,304	$	4,713,379

Gross and net premiums written and net premiums earned by geographic location



For the Year Ended December 31,	2014		2013		2012
Gross premiums written – North America	$	1,979,768	$	1,742,333	$	1,575,452
Gross premiums written – Other (predominantly Europe)	527,584		461,826		425,540
Net premiums written – North America	1,934,644		1,638,844		1,481,076
Net premiums written – Other (predominantly Europe)	523,492		457,457		420,209
Net premiums earned – North America	1,778,579		1,602,128		1,413,596
Net premiums earned – Other (predominantly Europe)	473,164		398,759		390,184

Net premiums by major line of business

The following tables set forth financial information relating to net premiums written by major line of business and reportable segment for the years ended December 31, 2014, 2013 and 2012:



For the Year Ended December 31,	2014					2013				2012
	Total			% of Total		Total		% of Total		Total		% of Total
Net premiums written
Diversified Reinsurance
Property	$	160,308		6.5	%	$	145,292	6.9	%	$	170,513	8.9	%
Casualty	535,518			21.8	%	473,732		22.6	%	433,305		22.8	%
Accident and Health	38,870			1.6	%	35,340		1.7	%	37,244		2.0	%
International	115,353			4.7	%	109,010		5.2	%	104,617		5.5	%
Total Diversified Reinsurance	850,049			34.6	%	763,374		36.4	%	745,679		39.2	%
AmTrust Reinsurance
Small Commercial Business	857,576			34.9	%	572,006		27.3	%	364,123		19.2	%
Specialty Program	220,121			8.9	%	157,578		7.5	%	95,904		5.0	%
Specialty Risk and Extended Warranty	532,788			21.7	%	440,377		21.0	%	380,321		20.0	%
Total AmTrust Reinsurance	1,610,485			65.5	%	1,169,961		55.8	%	840,348		44.2	%
Other	(2,398		)	(0.1	)%	162,966		7.8	%	315,258		16.6	%
	$	2,458,136		100.0	%	$	2,096,301	100.0	%	$	1,901,285	100.0	%

3. Segment Information (continued)

The following tables set forth financial information relating to net premiums earned by major line of business and reportable segment for the years ended December 31, 2014, 2013 and 2012:



For the Year Ended December 31,	2014				2013				2012
	Total		% of Total		Total		% of Total		Total		% of Total
Net premiums earned
Diversified Reinsurance
Property	$	174,785	7.7	%	$	150,261	7.5	%	$	191,835	10.6	%
Casualty	533,775		23.7	%	472,095		23.6	%	444,773		24.7	%
Accident and Health	39,918		1.8	%	36,165		1.8	%	41,968		2.3	%
International	105,548		4.7	%	94,636		4.7	%	96,601		5.4	%
Total Diversified Reinsurance	854,026		37.9	%	753,157		37.6	%	775,177		43.0	%
AmTrust Reinsurance
Small Commercial Business	752,188		33.4	%	493,774		24.7	%	313,110		17.3	%
Specialty Program	175,286		7.8	%	140,478		7.0	%	85,814		4.8	%
Specialty Risk and Extended Warranty	450,853		20.0	%	354,648		17.7	%	328,859		18.2	%
Total AmTrust Reinsurance	1,378,327		61.2	%	988,900		49.4	%	727,783		40.3	%
Other	19,390		0.9	%	258,830		13.0	%	300,820		16.7	%
	$	2,251,743	100.0	%	$	2,000,887	100.0	%	$	1,803,780	100.0	%

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References+ Details

Investments (Tables)

12 Months Ended

Dec. 31, 2014

Schedule of Investments [Abstract]

Original or amortized cost, estimated fair value and gross unrealized gains and losses of available-for-sale and other investments

The original or amortized cost, estimated fair value and gross unrealized gains and losses of AFS fixed maturities and other investments at December 31, 2014 and 2013, are as follows:



December 31, 2014	Original or amortized cost		Gross unrealized gains		Gross unrealized losses			Fair value
AFS fixed maturities:
U.S. treasury bonds	$	8,937	$	423	$	—		$	9,360
U.S. agency bonds – mortgage-backed	1,313,834		19,197		(10,588		)	1,322,443
U.S. agency bonds – other	7,213		775		—			7,988
Non-U.S. government and supranational bonds	54,467		304		(3,128		)	51,643
Other mortgage-backed securities	52,337		2,443		—			54,780
Corporate bonds	1,831,431		89,243		(25,295		)	1,895,379
Municipal bonds - other	62,153		3,666		—			65,819
Short-term investments	49,492		—		—			49,492
Total AFS fixed maturities	3,379,864		116,051		(39,011		)	3,456,904
Other investments	10,862		1,709		—			12,571
Total investments	$	3,390,726	$	117,760	$	(39,011	)	$	3,469,475

4. Investments (continued)



December 31, 2013	Original or amortized cost		Gross unrealized gains		Gross unrealized losses			Fair value
AFS fixed maturities:
U.S. treasury bonds	$	16,622	$	587	$	—		$	17,209
U.S. agency bonds – mortgage-backed	1,292,032		11,727		(41,104		)	1,262,655
U.S. agency bonds – other	7,207		901		—			8,108
Non-U.S. government and supranational bonds	70,377		3,547		(712		)	73,212
Other mortgage-backed securities	33,676		—		(232		)	33,444
Corporate bonds	1,546,578		82,952		(22,830		)	1,606,700
Municipal bonds - auction rate	99,170		—		—			99,170
Municipal bonds - other	62,130		934		(1,495		)	61,569
Total AFS fixed maturities	3,127,792		100,648		(66,373		)	3,162,067
Other investments	4,522		570		—			5,092
Total investments	$	3,132,314	$	101,218	$	(66,373	)	$	3,167,159

Contractual maturities of fixed maturities, available-for-sale



December 31, 2014	Amortized cost		Fair value		% of Total fair value
Maturity
Due in one year or less	$	75,844	$	74,563	2.2	%
Due after one year through five years	530,598		563,048		16.3	%
Due after five years through ten years	1,372,071		1,403,395		40.6	%
Due after ten years	35,180		38,675		1.1	%
	2,013,693		2,079,681		60.2	%
U.S. agency bonds - mortgage-backed	1,313,834		1,322,443		38.3	%
Other mortgage-backed securities	52,337		54,780		1.5	%
Total AFS fixed maturities	$	3,379,864	$	3,456,904	100.0	%

Summary of available-for-sale securities and other investments in an unrealized loss position and the aggregate fair value and gross unrealized loss by length of time the securities have continuously been in an unrealized loss position



	Less than 12 Months					12 Months or More					Total
December 31, 2014	Fair value		Unrealized losses			Fair value		Unrealized losses			Fair value		Unrealized losses
AFS fixed maturities:
U.S. agency bonds – mortgage-backed	$	84,264	$	(806	)	$	441,601	$	(9,782	)	$	525,865	$	(10,588	)
Non–U.S. government and supranational bonds	43,712		(2,822		)	2,522		(306		)	46,234		(3,128		)
Corporate bonds	397,173		(14,485		)	143,894		(10,810		)	541,067		(25,295		)
Total temporarily impaired AFS fixed maturities	$	525,149	$	(18,113	)	$	588,017	$	(20,898	)	$	1,113,166	$	(39,011	)

4. Investments (continued)



	Less than 12 Months					12 Months or More					Total
December 31, 2013	Fair value		Unrealized losses			Fair value		Unrealized losses			Fair value		Unrealized losses
AFS fixed maturities:
U.S. agency bonds – mortgage-backed	$	795,439	$	(38,421	)	$	60,602	$	(2,683	)	$	856,041	$	(41,104	)
Non-U.S. government and supranational bonds	9,946		(712		)	—		—			9,946		(712		)
Other mortgage-backed securities	33,444		(232		)	—		—			33,444		(232		)
Corporate bonds	463,469		(16,687		)	169,294		(6,143		)	632,763		(22,830		)
Municipal bonds - other	50,545		(1,495		)	—		—			50,545		(1,495		)
Total temporarily impaired AFS fixed maturities	$	1,352,843	$	(57,547	)	$	229,896	$	(8,826	)	$	1,582,739	$	(66,373	)

Summary of the credit ratings of fixed maturities

The following summarizes the credit ratings of our AFS fixed maturities:



Rating* at December 31, 2014	Amortized cost		Fair value		% of Total fair value
U.S. treasury bonds	$	8,937	$	9,360	0.3	%
U.S. agency bonds	1,321,047		1,330,431		38.5	%
AAA	193,280		202,973		5.9	%
AA+, AA, AA-	116,936		120,679		3.5	%
A+, A, A-	883,092		917,544		26.5	%
BBB+, BBB, BBB-	794,244		814,039		23.5	%
BB+ or lower	62,328		61,878		1.8	%
Total	$	3,379,864	$	3,456,904	100.0	%

4. Investments (continued)



Rating* at December 31, 2013	Amortized cost		Fair value		% of Total fair value
U.S. treasury bonds	$	16,622	$	17,209	0.5	%
U.S. agency bonds	1,299,239		1,270,763		40.2	%
AAA	210,872		222,417		7.0	%
AA+, AA, AA-	236,424		242,986		7.7	%
A+, A, A-	619,148		651,248		20.6	%
BBB+, BBB, BBB-	689,532		701,529		22.2	%
BB+ or lower	55,955		55,915		1.8	%
Total	$	3,127,792	$	3,162,067	100.0	%

*Ratings as assigned by Standard & Poor's ("S&P")

Portfolio of other investments

The table below shows our portfolio of other investments:



December 31,	2014				2013
	Fair value		% of Total fair value		Fair value		% of Total fair value
Investment in limited partnerships	$	5,581	44.4	%	$	4,092	80.4	%
Investment in quoted equity	5,990		47.6	%	—		—	%
Other	1,000		8.0	%	1,000		19.6	%
Total other investments	$	12,571	100.0	%	$	5,092	100.0	%

Net investment income

Net investment income was derived from the following sources:



For the Year Ended December 31,	2014			2013			2012
Fixed maturities	$	118,203		$	89,350		$	79,891
Cash and cash equivalents	2,224			3,120			1,439
Funds withheld	246			1,452			1,648
Loan to related party	1,797			1,857			1,945
	122,470			95,779			84,923
Less:
Investment expenses	(5,255		)	(4,427		)	(3,735		)
Total	$	117,215		$	91,352		$	81,188

Analysis of realized and unrealized gains on investment

The following provides an analysis of net realized gains on investment included in the Consolidated Statements of Income:



For the Year Ended December 31, 2014	Gross gains		Gross losses		Net
AFS fixed maturities	$	724	$	—	$	724
Other investments	439		—		439
Net realized gains on investment	$	1,163	$	—	$	1,163



For the Year Ended December 31, 2013	Gross gains		Gross losses			Net
AFS fixed maturities	$	5,598	$	(2,201	)	$	3,397
Other investments	188		—			188
Net realized gains on investment	$	5,786	$	(2,201	)	$	3,585



For the Year Ended December 31, 2012	Gross gains		Gross losses			Net
AFS fixed maturities	$	3,468	$	(13	)	$	3,455
Trading securities and short sales	—		(1,592		)	(1,592		)
Other investments	55		(11		)	44
Net realized gains on investment	$	3,523	$	(1,616	)	$	1,907

Net unrealized gains on available-for-sale securities and other investments

Net unrealized gains were as follows:



December 31,	2014			2013			2012
AFS fixed maturities	$	77,040		$	34,275		$	143,495
Other investments	1,709			570			302
Total net unrealized gains	78,749			34,845			143,797
Deferred income tax	(170		)	(117		)	(132		)
Net unrealized gains, net of deferred income tax	$	78,579		$	34,728		$	143,665
Change in net unrealized gains, net of deferred income tax	$	43,851		$	(108,937	)	$	79,928

Fair value of restricted assets

The fair value of our restricted assets was as follows:



December 31,	2014		2013
Restricted cash and cash equivalents – third party agreements	$	107,884	$	72,877
Restricted cash and cash equivalents – related party agreements	175,817		4,429
Restricted cash and cash equivalents – U.S. state regulatory authorities	680		54
Total restricted cash and cash equivalents	284,381		77,360
Restricted investments – in trust for third party agreements at fair value (Amortized cost: 2014 – $993,974; 2013 – $933,897)	1,014,878		939,800
Restricted investments – in trust for related party agreements at fair value (Amortized cost: 2014 – $1,769,083; 2013 – $1,183,156)	1,814,478		1,201,473
Restricted investments – in trust for U.S. state regulatory authorities (Amortized cost: 2014 – $7,269; 2013 – $12,730)	7,606		13,065
Total restricted investments	2,836,962		2,154,338
Total restricted cash and cash equivalents and investments	$	3,121,343	$	2,231,698

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2014

Fair Value Disclosures [Abstract]

Fair value hierarchy of financial assets and financial liabilities measured on a recurring basis

At December 31, 2014 and 2013, we classified our financial instruments measured at fair value on a recurring basis in the following valuation hierarchy:



December 31, 2014	Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)			Total Fair Value
AFS fixed maturities
U.S. treasury bonds	$	9,360		$	—		$	—		$	9,360
U.S. agency bonds – mortgage-backed	—			1,322,443			—			1,322,443
U.S. agency bonds – other	—			7,988			—			7,988
Non-U.S. government and supranational bonds	—			51,643			—			51,643
Other mortgage-backed securities	—			54,780			—			54,780
Corporate bonds	—			1,895,379			—			1,895,379
Municipal bonds - other	—			65,819			—			65,819
Short-term investments	—			49,492			—			49,492
Other investments	5,990			—			6,581			12,571
Total	$	15,350		$	3,447,544		$	6,581		$	3,469,475
As a percentage of total assets	0.3		%	66.8		%	0.1		%	67.2		%



December 31, 2013	Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)			Total Fair Value
AFS fixed maturities
U.S. treasury bonds	$	17,209		$	—		$	—		$	17,209
U.S. agency bonds – mortgage-backed	—			1,262,655			—			1,262,655
U.S. agency bonds – other	—			8,108			—			8,108
Non-U.S. government and supranational bonds	—			73,212			—			73,212
Other mortgage-backed securities	—			33,444			—			33,444
Corporate bonds	—			1,606,700			—			1,606,700
Municipal bonds - auction rate	—			99,170			—			99,170
Municipal bonds - other	—			61,569			—			61,569
Other investments	—			—			5,092			5,092
Total	$	17,209		$	3,144,858		$	5,092		$	3,167,159
As a percentage of total assets	0.4		%	66.7		%	0.1		%	67.2		%

Changes in Level 3 for financial instruments measured at fair value on a recurring basis

The following table presents changes in Level 3 of our financial instruments measured at fair value on a recurring basis for the years ended December 31, 2014 and 2013:



	For the Year Ended December 31,
Other investments:	2014			2013
Balance at beginning of period	$	5,092		$	2,901
Total realized gains – included in net realized gains on investment	439			188
Total realized losses – included in net realized gains on investment	—			—
Change in total unrealized gains – included in other comprehensive income (loss)	1,139			268
Change in total unrealized losses – included in other comprehensive income (loss)	—			—
Purchases	6,698			2,135
Sales and redemptions	(797		)	(400		)
Transfers into Level 3	—			—
Transfers out of Level 3	(5,990		)	—
Balance at end of period	$	6,581		$	5,092
Level 3 gains (losses) included in net income attributable to the change in unrealized gains (losses) relating to assets held at the reporting date	$	—		$	—

Carrying values and fair values of the Senior Notes and Junior Subordinated debt

The following table presents the carrying values and fair values of the Senior Notes and Junior Subordinated Debt at December 31, 2014 and 2013:



			December 31, 2014				December 31, 2013
	Interest Rate		Carrying Value		Fair Value		Carrying Value		Fair Value
2011 Senior Notes	8.25	%	$	107,500	$	113,391	$	107,500	$	101,480
2012 Senior Notes	8.00	%	100,000		106,320		100,000		89,760
2013 Senior Notes	7.75	%	152,500		162,016		152,500		126,209
Junior Subordinated Debt	14.00	%	—		—		126,381		152,500

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References+ Details

- Definition

Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring and/or nonrecurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

+ References+ Details

Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in goodwill and intangible assets

The following tables show the analysis of goodwill and intangible assets:



	Goodwill		Intangible Assets			Total
December 31, 2012	$	58,312	$	36,081		$	94,393
Amortization	—		(3,780		)	(3,780		)
December 31, 2013	58,312		32,301			90,613
Amortization	—		(3,277		)	(3,277		)
December 31, 2014	$	58,312	$	29,024		$	87,336

Goodwill and intangible assets



December 31, 2014	Gross		Accumulated Amortization			Net		Useful Life
Goodwill	$	58,312	$	—		$	58,312	Indefinite
State licenses	7,727		—			7,727		Indefinite
Customer relationships	51,400		(30,103		)	21,297		15 years double declining
Net balance	$	117,439	$	(30,103	)	$	87,336



December 31, 2013	Gross		Accumulated Amortization			Net		Useful Life
Goodwill	$	58,312	$	—		$	58,312	Indefinite
State licenses	7,727		—			7,727		Indefinite
Customer relationships	51,400		(26,826		)	24,574		15 years double declining
Net balance	$	117,439	$	(26,826	)	$	90,613

Estimated amortization expenses for the next five years

The estimated amortization of intangible assets for the next five years is as follows:



2015	$	2,840
2016	2,461
2017	2,133
2018	1,848
2019	1,602

Long-Term Debt Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2014

Debt Disclosure [Abstract]

Senior Note Issuances

The following table presents details about the Company's Senior Notes issuances:



	2011 Senior Notes			2012 Senior Notes			2013 Senior Notes
Principal	$	107,500		$	100,000		$	152,500
Debt Issuance Costs	2,811			3,406			5,054
Net Proceeds	$	104,689		$	96,594		$	147,446

Other details:
Maturity date	June 15, 2041			March 27, 2042			December 1, 2043
Earliest redeemable date (for cash)	June 15, 2016			March 27, 2017			December 1, 2018
Coupon rate	8.25		%	8.00		%	7.75		%
Effective interest rate	8.47		%	8.28		%	8.04		%

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

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-Subparagraph (SX 210.4-08.(e),(f))

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-Name Accounting Standards Codification

-Topic 210

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Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 22

-Article 5

Reference 8: http://www.xbrl.org/2003/role/presentationRef

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-Name Accounting Standards Codification

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-Section 50

-Paragraph 8

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21538-112644

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 942

-SubTopic 470

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6479336&loc=d3e64711-112823

+ Details

Reinsurance (Tables)

12 Months Ended

Dec. 31, 2014

Reinsurance Disclosures [Abstract]

Schedule of effects of reinsurance on premiums written and earned and liability for claims and claims adjustment expense

The effect of retrocessional activity on net premiums written and earned and on net loss and LAE for the years ended December 31, 2014, 2013 and 2012 was as follows:



For the Year Ended December 31,	2014			2013			2012
Premiums written
Direct	$	48,565		$	104,976		$	122,412
Assumed	2,458,787			2,099,183			1,878,580
Ceded	(49,216		)	(107,858		)	(99,707		)
Net	$	2,458,136		$	2,096,301		$	1,901,285
Premiums earned
Direct	$	70,807		$	118,170		$	119,398
Assumed	2,253,750			1,994,225			1,780,745
Ceded	(72,814		)	(111,508		)	(96,363		)
Net	$	2,251,743		$	2,000,887		$	1,803,780
Loss and loss adjustment expenses
Gross loss and loss adjustment expenses	$	1,592,795		$	1,421,328		$	1,457,404
Loss and loss adjustment expenses ceded	(94,524		)	(71,698		)	(195,056		)
Net	$	1,498,271		$	1,349,630		$	1,262,348

Reserve for Loss and Loss Adjustment Expenses (Tables)

12 Months Ended

Dec. 31, 2014

Insurance [Abstract]

Schedule of liability for unpaid claims and claims adjustment expense

Our reserve for loss and LAE comprises:



December 31,	2014		2013
Reserve for reported loss and LAE	$	1,252,284	$	1,087,401
Reserve for losses incurred but not reported	1,019,008		870,434
Reserve for loss and loss adjustment expenses	$	2,271,292	$	1,957,835

9. Reserve for Loss and Loss Adjustment Expenses (continued)

The following table represents a reconciliation of our beginning and ending gross and net loss and loss adjustment expense reserves:



For the Year Ended December 31,	2014			2013			2012
Gross loss and loss adjustment expense reserves, January 1	$	1,957,835		$	1,740,281		$	1,398,438
Less: reinsurance recoverable on unpaid losses, January 1	84,036			110,858			20,289
Net loss and loss adjustment expense reserves, January 1	1,873,799			1,629,423			1,378,149
Net incurred losses related to:
Current year	1,479,425			1,351,043			1,239,016
Prior years	18,846			(1,413		)	23,332
	1,498,271			1,349,630			1,262,348
Net paid losses related to:
Current year	(430,394		)	(517,606		)	(485,015		)
Prior years	(705,397		)	(598,490		)	(530,294		)
	(1,135,791		)	(1,116,096		)	(1,015,309		)
Effect of foreign exchange movements	(40,860		)	10,842			4,235
Net loss and loss adjustment expense reserves, December 31	2,195,419			1,873,799			1,629,423
Reinsurance recoverable on unpaid losses, December 31	75,873			84,036			110,858
Gross loss and loss adjustment expense reserves, December 31	$	2,271,292		$	1,957,835		$	1,740,281

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2014

Commitments and Contingencies Disclosure [Abstract]

Schedule of future minimum lease payments under non-cancellable operating leases

Future minimum lease payments at December 31, 2014 under non-cancellable operating leases for the next five years are approximately as follows:



	December 31, 2014
2015	$	1,643
2016	1,210
2017	1,028
2018	463
2019	513
	$	4,857

Schedule of dividends payable

On November 5, 2014, the Company's Board of Directors authorized the following quarterly dividend:



	Dividend per Share		Payable on:	Record date:
Common shares	$	0.13	January 15, 2015	January 2, 2015

Earnings per Common Share (Tables)

12 Months Ended

Dec. 31, 2014

Earnings Per Share [Abstract]

Summary of elements used in calculating basic and diluted earnings per common share

The following is a summary of the elements used in calculating basic and diluted earnings per common share:



For the Year Ended December 31,	2014			2013			2012
Numerator:
Net income attributable to Maiden	$	101,391		$	102,735		$	50,154
Dividends on preference shares - Series A	(12,375		)	(12,375		)	(3,644		)
Dividends on convertible preference shares - Series B	(11,962		)	(2,459		)	—
Amount allocated to participating common shareholders⁽¹⁾	(94		)	(116		)	—
Numerator for basic EPS - net income allocated to Maiden common shareholders	76,960			87,785			46,510
Potentially dilutive securities:
Dividends on convertible preference shares - Series B	—			2,459			—
Numerator for diluted EPS - net income allocated to Maiden common shareholders after assumed conversion	$	76,960		$	90,244		$	46,510
Denominator:
Weighted average number of common shares – basic	72,843,782			72,510,361			72,263,022
Potentially dilutive securities:
Share options and restricted share units	1,273,786			1,253,479			842,509
Convertible preference shares	—			2,653,999			—
Adjusted weighted average number of common shares and assumed conversions – diluted	74,117,568			76,417,839			73,105,531
Basic earnings per share attributable to Maiden common shareholders:	$	1.06		$	1.21		$	0.64
Diluted earnings per share attributable to Maiden common shareholders:	$	1.04		$	1.18		$	0.64

(1) This represents earnings allocated to the holders of non-vested restricted shares issued to the Company's employees under the 2007 Share Incentive Plan.

Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2014

Stockholders' Equity Note [Abstract]

Summary of changes in common shares issued and outstanding

The following table shows the summary of changes in the Company's common shares outstanding:



For the Year Ended December 31,	2014		2013	2012
Outstanding shares – January 1	72,633,561		72,343,947	72,221,428
Issuance of vested restricted shares and restricted share units	184,396		—	—
Shares repurchased	(5,851	)	—	—
Exercise of options	120,596		289,614	122,519
Outstanding shares – December 31	72,932,702		72,633,561	72,343,947

Amounts reclassified from accumulated other comprehensive income

The following table presents details about amounts reclassified from AOCI:



Details about AOCI Components	Consolidated Statements of Income Line Item that Includes Reclassification	For the Year Ended December 31,
Unrealized gains (losses) on AFS securities		2014			2013
	Net realized (losses) gains on investment	$	(3,160	)	$	6,955
	Net impairment losses recognized in earnings	(102		)	—
	Total before tax	(3,262		)	6,955
	Income tax expense	(16		)	(2		)
	Total after tax	$	(3,278	)	$	6,953

Schedule of accumulated other comprehensive income

The following tables set forth financial information regarding the changes in the balances of each component of AOCI for the years ended December 31, 2014, 2013 and 2012:



For the Year Ended December 31, 2014	Change in net unrealized gains on investment		Foreign currency translation adjustments			Total
Beginning balance	$	34,728	$	(8,927	)	$	25,801
Other comprehensive income before reclassifications	40,573		25,592			66,165
Amounts reclassified from AOCI to net income, net of tax	3,278		—			3,278
Net current period other comprehensive income	43,851		25,592			69,443
Ending balance	78,579		16,665			95,244
Less: AOCI attributable to noncontrolling interest	—		(49		)	(49		)
Ending balance, Maiden shareholders	$	78,579	$	16,714		$	95,293

13. Shareholders’ Equity (continued)



For the Year Ended December 31, 2013	Change in net unrealized gains on investment			Foreign currency translation adjustments			Total
Beginning balance	$	143,665		$	(2,539	)	$	141,126
Other comprehensive loss before reclassifications	(101,984		)	(6,388		)	(108,372		)
Amounts reclassified from AOCI to net income, net of tax	(6,953		)	—			(6,953		)
Net current period other comprehensive loss	(108,937		)	(6,388		)	(115,325		)
Ending balance	34,728			(8,927		)	25,801
Less: AOCI attributable to noncontrolling interest	—			17			17
Ending balance, Maiden shareholders	$	34,728		$	(8,944	)	$	25,784



For the Year Ended December 31, 2012	Change in net unrealized gains on investment			Foreign currency translation adjustments			Total
Beginning balance	$	63,737		$	313		$	64,050
Other comprehensive income (loss) before reclassifications	82,915			(2,852		)	80,063
Amounts reclassified from AOCI to net income, net of tax	(2,987		)	—			(2,987		)
Net current period other comprehensive income (loss)	79,928			(2,852		)	77,076
Ending balance	143,665			(2,539		)	141,126
Less: AOCI attributable to noncontrolling interest	—			(4		)	(4		)
Ending balance, Maiden shareholders	$	143,665		$	(2,535	)	$	141,130

Share Compensation and Pension Plans (Tables)

12 Months Ended

Dec. 31, 2014

Share-based Compensation [Abstract]

Key assumptions used in determining the fair value of options granted

The key assumptions used in determining the fair value of options granted in 2014, 2013 and 2012 and a summary of the methodology applied to develop each assumption were as follows:



	2014		2013		2012
Assumptions:
Volatility	51.4	%	45.30 – 51.40	%	45.30 – 47.60	%
Risk-free interest rate	1.77	%	0.85 – 1.77	%	0.85 – 1.29	%
Weighted average expected lives in years	6.1 years		6.1 years		6.1 years
Forfeiture rate	3.45	%	1.60 – 3.45	%	1.60	%
Dividend yield rate	3.46	%	3.46 – 3.55	%	3.04 – 3.55	%

Schedule of all options granted, exercised, expired and forfeited under the Plan

The following table shows all options granted, exercised, expired and exchanged under the Plan for the years ended December 31, 2014, 2013 and 2012:



	Number of Share Options		Weighted Average Exercise Price		Weighted Average Grant-Date Fair Value		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value		Range of Exercise Prices
Outstanding, December 31, 2011	2,916,143		$	6.61			7.55 years	$	6,866	$3.28 – 10.00
Granted	117,000		$	8.89	$	2.65				$8.14 – 9.42
Exercised	(122,519	)	$	3.90				$	616
Expired	(103,847	)	$	9.87
Forfeited	(11,340	)	$	7.54
Outstanding, December 31, 2012	2,795,437		$	6.70			6.75 years	$	7,271	$3.28 – 10.00
Granted	49,000		$	10.61	$	2.80				$9.99 - 11.22
Exercised	(289,614	)	$	6.13				$	1,397
Expired	(691	)	$	7.67
Forfeited	(114,719	)	$	8.51
Outstanding, December 31, 2013	2,439,413		$	6.76			5.75 years	$	10,174	$3.28 - 11.22
Granted	45,000		$	12.01	$	4.28				$11.38 - 12.42
Exercised	(120,596	)	$	4.91				$	930
Expired	—		$	—
Forfeited	(842	)	$	7.74
Outstanding, December 31, 2014	2,362,975		$	6.95			4.86 years	$	13,791	$3.28 - 12.42
Total options exercisable at December 31, 2014	2,276,100		$	6.81			4.72 years	$	13,616	$3.28 - 11.22

Schedule of based compensation instrument granted, other than share options

The following schedule shows the summary of activity under the Company's restricted awards:



	CEO Non-Performance-Based Restricted Share Units				Non-CEO Non-Performance-Based Restricted Shares				Performance Based Restricted Share Units¹
	Number of Restricted Units		Weighted Average Grant-Date Fair Value		Number of Restricted Shares		Weighted Average Grant-Date Fair Value		Number of Restricted Units		Weighted Average Grant-Date Fair Value
Non-vested at December 2011	—		—		—		—		321,600		$	7.97
Awards granted	86,705		$	8.56	—		—		538,906		$	8.56
Awards vested	—		—		—		—		—		—
Awards forfeited	—		—		—		—		—		—
Non-vested December 31, 2012	86,705		$	8.56	—		—		860,506		$	8.34
Awards granted	149,701		$	10.02	95,590		$	10.02	359,652		$	10.02
Awards vested	(86,705	)	$	8.56	—		—		—		—
Awards forfeited	—		—		—		—		(466,296	)	$	8.31
Non-vested at December 31, 2013	149,701		$	10.02	95,590		$	10.02	753,862		$	9.21
Awards granted	70,298		$	11.38	38,522		$	11.38	396,672		$	11.38
Awards vested	(73,333	)	$	10.45	(47,795	)	$	10.02	(100,308	)	$	8.56
Awards forfeited	—		—		—		—		(242,456	)	$	8.56
Non-vested at December 31, 2014	146,666		$	10.45	86,317		$	10.63	807,770		$	10.51

Taxation (Tables)

12 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

Schedule of income tax expense

Income before taxes and income tax expense for the years ended December 31, 2014, 2013 and 2012 was as follows:



For the Year Ended December 31,	2014			2013			2012
Income before income taxes – Domestic (Bermuda)	$	117,780		$	125,926		$	72,286
Income before income taxes – Foreign (U.S. and others)	(14,083		)	(21,207		)	(19,812		)
Total income before income taxes	$	103,697		$	104,719		$	52,474

Current tax expense – Domestic (Bermuda)	$	—		$	—		$	—
Current tax expense – Foreign (U.S. and others)	945			873			1,020
Total current tax expense	945			873			1,020
Deferred tax expense – Domestic (Bermuda)	—			—			—
Deferred tax expense – Foreign (U.S. and others)	1,219			990			1,193
Total deferred tax expense	1,219			990			1,193
Total income tax expense	$	2,164		$	1,863		$	2,213

Schedule of effective income tax rate reconciliation



For the Year Ended December 31,	2014			2013			2012
Income before income taxes	$	103,697		$	104,719		$	52,474
Income tax expense	2,164			1,863			2,213
Net income	$	101,533		$	102,856		$	50,261
Reconciliation of effective tax rate (% of income before income taxes)
Bermuda tax rate	—		%	—		%	—		%
U.S. taxes at statutory rates	(7.3		)%	(8.7		)%	(9.4		)%
Valuation allowance in respect of U.S. taxes	8.5		%	9.8		%	11.7		%
Other jurisdictions	0.9		%	0.7		%	1.9		%
Actual tax rate	2.1		%	1.8		%	4.2		%

Schedule of deferred tax assets and liabilities

The significant components of our deferred tax assets and liabilities at December 31, 2014 and 2013 were as follows:



December 31,	2014		2013
Deferred tax assets:
Net operating losses	$	54,524	$	51,569
Unearned premiums	8,860		9,364
Discounting of net loss and loss adjustment expense reserves	12,250		11,678
Net unrealized losses on investments	—		5,236
Accruals not currently deductible	1,994		1,879
Amortization of intangibles	3,021		3,093
Others	1,870		1,065
Deferred tax assets before valuation allowance	82,519		83,884
Valuation allowance	65,743		67,013
Deferred tax assets, net	16,776		16,871
Deferred tax liabilities:
Deferred commission and other acquisition expenses	10,119		15,587
Indefinite lived intangible	2,870		2,870
Amortization of goodwill	7,158		5,997
Net unrealized gains on investments	4,831		—
Others	1,789		1,105
Deferred tax liabilities	26,767		25,559
Net deferred tax liability	$	9,991	$	8,688

Statutory Requirements and Dividend Restrictions (Tables)

12 Months Ended

Dec. 31, 2014

Statutory Financial Information [Abstract]

Statutory and U.S. GAAP equity and net income of insurance and reinsurance subsidiaries

The combined statutory capital and combined statutory net income (loss) of our principal operating subsidiaries in their respective jurisdictions were as follows:



	Maiden Bermuda		Maiden US			Maiden Specialty		Maiden LF
Statutory Capital and Surplus
December 31, 2014	$	1,289,155	$	288,065		$	51,883	$	8,530
December 31, 2013	1,106,096		269,598			48,940		9,235

Statutory Net Income (Loss)
For the Year Ended December 31, 2014	$	60,016	$	16,614		$	3,006	$	1,436
For the Year Ended December 31, 2013	109,326		(1,305		)	2,899		340
For the Year Ended December 31, 2012	79,714		(19,156		)	1,227		464

- Definition

Tabular disclosure of how the entity's reporting under GAAP as of the balance sheet date differs from the results based on prescribed and permitted accounting practices of the state or country of domicile in which a relevant statutory filing is made, or differences in results based on the National Association of Insurance Commissioners (NAIC) prescribed practices, or a combination thereof. Describes the accounting practices used and the related monetary effect on statutory surplus, net income, and risk-based capital. If an insurance enterprise's risk-based capital would have triggered a regulatory event had it not used a permitted practice, that fact is disclosed in the financial statements. Permitted statutory accounting practices include practices not prescribed but allowed by the domiciliary state insurance department regulatory authority.

+ References+ Details

Subsequent Events (Tables)

12 Months Ended

Dec. 31, 2014

Subsequent Events [Abstract]

Schedule of subsequent events

On February 16, 2015, the Company's Board of Directors authorized the following quarterly dividends:



	Dividend per Share		Payable on:	Record date:
Common shares	$	0.13	April 15, 2015	April 1, 2015
Preference shares - Series A	$	0.515625	March 16, 2015	March 1, 2015
Preference shares - Series B	$	0.90625	March 16, 2015	March 1, 2015

Condensed Quarterly Financial Data - Unaudited (Tables)

12 Months Ended

Dec. 31, 2014

Quarterly Financial Information Disclosure [Abstract]

Schedule of quarterly financial data

The following tables summarize our quarterly financial data:



2014 Quarters Ended	March 31			June 30		September 30		December 31
Total revenues	$	552,322		$	563,422	$	623,506	$	641,917
Net income	2,061			31,915		33,926		33,631
Net (loss) income attributable to Maiden common shareholders	(4,062		)	25,804		27,798		27,514
Comprehensive income - attributable to Maiden	39,816			86,260		3,176		41,648
Basic (loss) earnings per common share attributable to Maiden common shareholders	$	(0.06	)	$	0.35	$	0.38	$	0.38
Diluted (loss) earnings per common share attributable to Maiden common shareholders	$	(0.06	)	$	0.34	$	0.36	$	0.36



2013 Quarters Ended	March 31		June 30			September 30		December 31
Total revenues	$	518,919	$	536,745		$	535,127	$	519,265
Net income	28,107		23,331			25,033		26,385
Net income attributable to Maiden common shareholders	24,986		20,205			21,904		20,806
Comprehensive income (loss) - attributable to Maiden	20,048		(61,764		)	25,581		3,524
Basic earnings per common share attributable to Maiden common shareholders	$	0.35	$	0.28		$	0.30	$	0.29
Diluted earnings per common share attributable to Maiden common shareholders	$	0.34	$	0.27		$	0.30	$	0.27

Significant Accounting Policies - Foreign Currency Transactions (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Accounting Policies [Abstract]
Accumulated foreign currency translation adjustment	$ 16,714	$ (8,944)

- Definition

Accumulated adjustment, net of tax, that results from the process of translating subsidiary financial statements and foreign equity investments into the reporting currency from the functional currency of the reporting entity, net of reclassification of realized foreign currency translation gains or losses.

+ References+ Details

Segment Information - Net Income (Loss) and Total Assets (Details) (USD $)	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014 Segment	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Segment Reporting Information [Line Items]
Number of reportable segments									2
Income Statement [Abstract]
Net premiums written									$ 2,458,136,000	$ 2,096,301,000	$ 1,901,285,000
Net premiums earned									2,251,743,000	2,000,887,000	1,803,780,000
Other insurance revenue									13,410,000	14,232,000	12,890,000
Net loss and loss adjustment expenses									(1,498,271,000)	(1,349,630,000)	(1,262,348,000)
Commission and other acquisition expenses									(659,315,000)	(556,578,000)	(492,031,000)
General and administrative expenses									(45,769,000)	(45,030,000)	(43,637,000)
Underwriting income									61,798,000	63,881,000	18,654,000
Reconciliation to net loss attributable to Maiden shareholders [Abstract]
Net investment income and realized gains on investments									118,378,000	94,937,000	83,095,000
Net impairment losses recognized in earnings									(2,364,000)	0	0
Amortization of intangible assets									(3,277,000)	(3,780,000)	(4,362,000)
Foreign exchange and other gains									4,150,000	2,809,000	1,638,000
Interest and amortization expenses									(29,580,000)	(39,497,000)	(36,384,000)
Accelerated amortization of junior subordinated debt discount and issuance cost									(28,240,000)	0	0
Other general and administrative expenses									(17,168,000)	(13,631,000)	(10,167,000)
Income tax expense									(2,164,000)	(1,863,000)	(2,213,000)
Net income	33,631,000	33,926,000	31,915,000	2,061,000	26,385,000	25,033,000	23,331,000	28,107,000	101,533,000	102,856,000	50,261,000
Net loss and loss expense ratio									66.10%	67.00%	69.50%
Acquisition cost ratio									29.10%	27.60%	27.10%
General and administrative expense ratio									2.80%	2.90%	2.90%
Combined ratio									98.00%	97.50%	99.50%
Assets [Abstract]
Reinsurance balances receivable, net	512,996,000				560,145,000				512,996,000	560,145,000
Reinsurance recoverable on unpaid losses	75,873,000				84,036,000				75,873,000	84,036,000	110,858,000	20,289,000
Deferred commission and other acquisition expenses	372,487,000				304,908,000				372,487,000	304,908,000
Loan to related party	167,975,000				167,975,000				167,975,000	167,975,000
Goodwill and intangible assets, net	87,336,000				90,613,000				87,336,000	90,613,000	94,393,000
Restricted cash and cash equivalents and investments	3,121,343,000				2,231,698,000				3,121,343,000	2,231,698,000
Total assets	5,164,092,000				4,713,379,000				5,164,092,000	4,713,379,000
Diversified Reinsurance
Income Statement [Abstract]
Net premiums written									850,049,000	763,374,000	745,679,000
Net premiums earned									854,026,000	753,157,000	775,177,000
Other insurance revenue									13,410,000	14,232,000	12,890,000
Net loss and loss adjustment expenses									(579,771,000)	(519,962,000)	(549,405,000)
Commission and other acquisition expenses									(233,711,000)	(190,604,000)	(205,307,000)
General and administrative expenses									(42,914,000)	(42,331,000)	(40,951,000)
Underwriting income									11,040,000	14,492,000	(7,596,000)
Reconciliation to net loss attributable to Maiden shareholders [Abstract]
Net loss and loss expense ratio									66.80%	67.80%	69.70%
Acquisition cost ratio									26.90%	24.80%	26.10%
General and administrative expense ratio									5.00%	5.50%	5.20%
Combined ratio									98.70%	98.10%	101.00%
Assets [Abstract]
Reinsurance balances receivable, net	245,782,000				261,285,000				245,782,000	261,285,000
Reinsurance recoverable on unpaid losses	31,272,000				36,696,000				31,272,000	36,696,000
Deferred commission and other acquisition expenses	87,289,000				88,721,000				87,289,000	88,721,000
Loan to related party	0				0				0	0
Goodwill and intangible assets, net	87,336,000				90,613,000				87,336,000	90,613,000
Restricted cash and cash equivalents and investments	1,132,953,000				1,025,629,000				1,132,953,000	1,025,629,000
Other assets	40,032,000				61,462,000				40,032,000	61,462,000
Total assets - reportable segments	1,624,664,000				1,564,406,000				1,624,664,000	1,564,406,000
Corporate Assets	0				0				0	0
Total assets	1,624,664,000				1,564,406,000				1,624,664,000	1,564,406,000
AmTrust Reinsurance
Income Statement [Abstract]
Net premiums written									1,610,485,000	1,169,961,000	840,348,000
Net premiums earned									1,378,327,000	988,900,000	727,783,000
Other insurance revenue									0	0	0
Net loss and loss adjustment expenses									(893,502,000)	(653,528,000)	(496,370,000)
Commission and other acquisition expenses									(418,908,000)	(291,559,000)	(200,547,000)
General and administrative expenses									(2,098,000)	(1,992,000)	(1,949,000)
Underwriting income									63,819,000	41,821,000	28,917,000
Reconciliation to net loss attributable to Maiden shareholders [Abstract]
Net loss and loss expense ratio									64.80%	66.10%	68.20%
Acquisition cost ratio									30.40%	29.50%	27.50%
General and administrative expense ratio									0.20%	0.20%	0.30%
Combined ratio									95.40%	95.80%	96.00%
Assets [Abstract]
Reinsurance balances receivable, net	256,779,000				278,573,000				256,779,000	278,573,000
Reinsurance recoverable on unpaid losses	0				0				0	0
Deferred commission and other acquisition expenses	285,232,000				209,439,000				285,232,000	209,439,000
Loan to related party	167,975,000				167,975,000				167,975,000	167,975,000
Goodwill and intangible assets, net	0				0				0	0
Restricted cash and cash equivalents and investments	1,930,502,000				1,102,317,000				1,930,502,000	1,102,317,000
Other assets	0				0				0	0
Total assets - reportable segments	2,640,488,000				1,758,304,000				2,640,488,000	1,758,304,000
Corporate Assets	0				0				0	0
Total assets	2,640,488,000				1,758,304,000				2,640,488,000	1,758,304,000
Other
Income Statement [Abstract]
Net premiums written									(2,398,000)	162,966,000	315,258,000
Net premiums earned									19,390,000	258,830,000	300,820,000
Other insurance revenue									0	0	0
Net loss and loss adjustment expenses									(24,998,000)	(176,140,000)	(216,573,000)
Commission and other acquisition expenses									(6,696,000)	(74,415,000)	(86,177,000)
General and administrative expenses									(757,000)	(707,000)	(737,000)
Underwriting income									(13,061,000)	7,568,000	(2,667,000)
Reconciliation to net loss attributable to Maiden shareholders [Abstract]
Net loss and loss expense ratio									128.90%	68.10%	72.00%
Acquisition cost ratio									34.50%	28.80%	28.60%
General and administrative expense ratio									4.00%	0.20%	0.30%
Combined ratio									167.40%	97.10%	100.90%
Total Reportable Segments, Excluding Other
Assets [Abstract]
Reinsurance balances receivable, net	502,561,000				539,858,000				502,561,000	539,858,000
Reinsurance recoverable on unpaid losses	31,272,000				36,696,000				31,272,000	36,696,000
Deferred commission and other acquisition expenses	372,521,000				298,160,000				372,521,000	298,160,000
Loan to related party	167,975,000				167,975,000				167,975,000	167,975,000
Goodwill and intangible assets, net	87,336,000				90,613,000				87,336,000	90,613,000
Restricted cash and cash equivalents and investments	3,063,455,000				2,127,946,000				3,063,455,000	2,127,946,000
Other assets	40,032,000				61,462,000				40,032,000	61,462,000
Total assets - reportable segments	4,265,152,000				3,322,710,000				4,265,152,000	3,322,710,000
Corporate Assets	898,940,000				1,390,669,000				898,940,000	1,390,669,000
Total assets	$ 5,164,092,000				$ 4,713,379,000				$ 5,164,092,000	$ 4,713,379,000

Segment Information - Net Premiums (Details) (USD $)	12 Months Ended
Segment Information - Net Premiums (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Segment Reporting, Revenue Reconciling Item [Line Items]
Gross premiums written	$ 2,507,352,000	$ 2,204,159,000	$ 2,000,992,000
Net premiums written	2,458,136,000	2,096,301,000	1,901,285,000
Net premiums earned	2,251,743,000	2,000,887,000	1,803,780,000
% of Total Net premiums written	100.00%	100.00%	100.00%
% of Total Net premiums earned	100.00%	100.00%	100.00%
Diversified Reinsurance
Segment Reporting, Revenue Reconciling Item [Line Items]
Net premiums written	850,049,000	763,374,000	745,679,000
Net premiums earned	854,026,000	753,157,000	775,177,000
% of Total Net premiums written	34.60%	36.40%	39.20%
% of Total Net premiums earned	37.90%	37.60%	43.00%
AmTrust Reinsurance
Segment Reporting, Revenue Reconciling Item [Line Items]
Net premiums written	1,610,485,000	1,169,961,000	840,348,000
Net premiums earned	1,378,327,000	988,900,000	727,783,000
% of Total Net premiums written	65.50%	55.80%	44.20%
% of Total Net premiums earned	61.20%	49.40%	40.30%
Other
Segment Reporting, Revenue Reconciling Item [Line Items]
Net premiums written	(2,398,000)	162,966,000	315,258,000
Net premiums earned	19,390,000	258,830,000	300,820,000
% of Total Net premiums written	(0.10%)	7.80%	16.60%
% of Total Net premiums earned	0.90%	13.00%	16.70%
Property \| Diversified Reinsurance
Segment Reporting, Revenue Reconciling Item [Line Items]
Net premiums written	160,308,000	145,292,000	170,513,000
Net premiums earned	174,785,000	150,261,000	191,835,000
% of Total Net premiums written	6.50%	6.90%	8.90%
% of Total Net premiums earned	7.70%	7.50%	10.60%
Casualty \| Diversified Reinsurance
Segment Reporting, Revenue Reconciling Item [Line Items]
Net premiums written	535,518,000	473,732,000	433,305,000
Net premiums earned	533,775,000	472,095,000	444,773,000
% of Total Net premiums written	21.80%	22.60%	22.80%
% of Total Net premiums earned	23.70%	23.60%	24.70%
Accident and Health \| Diversified Reinsurance
Segment Reporting, Revenue Reconciling Item [Line Items]
Net premiums written	38,870,000	35,340,000	37,244,000
Net premiums earned	39,918,000	36,165,000	41,968,000
% of Total Net premiums written	1.60%	1.70%	2.00%
% of Total Net premiums earned	1.80%	1.80%	2.30%
International \| Diversified Reinsurance
Segment Reporting, Revenue Reconciling Item [Line Items]
Net premiums written	115,353,000	109,010,000	104,617,000
Net premiums earned	105,548,000	94,636,000	96,601,000
% of Total Net premiums written	4.70%	5.20%	5.50%
% of Total Net premiums earned	4.70%	4.70%	5.40%
Small Commercial Business \| AmTrust Reinsurance
Segment Reporting, Revenue Reconciling Item [Line Items]
Net premiums written	857,576,000	572,006,000	364,123,000
Net premiums earned	752,188,000	493,774,000	313,110,000
% of Total Net premiums written	34.90%	27.30%	19.20%
% of Total Net premiums earned	33.40%	24.70%	17.30%
Specialty Program \| AmTrust Reinsurance
Segment Reporting, Revenue Reconciling Item [Line Items]
Net premiums written	220,121,000	157,578,000	95,904,000
Net premiums earned	175,286,000	140,478,000	85,814,000
% of Total Net premiums written	8.90%	7.50%	5.00%
% of Total Net premiums earned	7.80%	7.00%	4.80%
Specialty Risk and Extended Warranty \| AmTrust Reinsurance
Segment Reporting, Revenue Reconciling Item [Line Items]
Net premiums written	532,788,000	440,377,000	380,321,000
Net premiums earned	450,853,000	354,648,000	328,859,000
% of Total Net premiums written	21.70%	21.00%	20.00%
% of Total Net premiums earned	20.00%	17.70%	18.20%
North America
Segment Reporting, Revenue Reconciling Item [Line Items]
Gross premiums written	1,979,768,000	1,742,333,000	1,575,452,000
Net premiums written	1,934,644,000	1,638,844,000	1,481,076,000
Net premiums earned	1,778,579,000	1,602,128,000	1,413,596,000
Other (predominantly Europe)
Segment Reporting, Revenue Reconciling Item [Line Items]
Gross premiums written	527,584,000	461,826,000	425,540,000
Net premiums written	523,492,000	457,457,000	420,209,000
Net premiums earned	$ 473,164,000	$ 398,759,000	$ 390,184,000

- Definition

Amount, after premiums ceded to other entities and premiums assumed by the entity, of premiums earned.

+ References+ Details

Investments - Schedule of Investments Reconciliation (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
Schedule of Investments [Line Items]
Available-for-sale fixed maturities, Original or amortized cost	$ 3,379,864,000	$ 3,127,792,000
Available-for-sale fixed maturities, Gross unrealized gains	116,051,000	100,648,000
Available-for-sale fixed maturities, Gross unrealized losses	(39,011,000)	(66,373,000)
Fair value	3,456,904,000	3,162,067,000
Other Investments, Original or amortized cost	10,862,000	4,522,000
Other investments, Gross unrealized gains	1,709,000	570,000
Other investments, Gross unrealized losses	0	0
Other investments	12,571,000	5,092,000
Total investments, Original or amortized cost	3,390,726,000	3,132,314,000
Investments, Gross unrealized gains	117,760,000	101,218,000
Investments, Gross unrealized losses	(39,011,000)	(66,373,000)
Total investments, Fair value	3,469,475,000	3,167,159,000
U.S. treasury bonds
Schedule of Investments [Line Items]
Available-for-sale fixed maturities, Original or amortized cost	8,937,000	16,622,000
Available-for-sale fixed maturities, Gross unrealized gains	423,000	587,000
Available-for-sale fixed maturities, Gross unrealized losses	0	0
Fair value	9,360,000	17,209,000
U.S. agency bonds – mortgage-backed
Schedule of Investments [Line Items]
Available-for-sale fixed maturities, Original or amortized cost	1,313,834,000	1,292,032,000
Available-for-sale fixed maturities, Gross unrealized gains	19,197,000	11,727,000
Available-for-sale fixed maturities, Gross unrealized losses	(10,588,000)	(41,104,000)
Fair value	1,322,443,000	1,262,655,000
U.S. agency bonds – other
Schedule of Investments [Line Items]
Available-for-sale fixed maturities, Original or amortized cost	7,213,000	7,207,000
Available-for-sale fixed maturities, Gross unrealized gains	775,000	901,000
Available-for-sale fixed maturities, Gross unrealized losses	0	0
Fair value	7,988,000	8,108,000
Non-U.S. government bonds
Schedule of Investments [Line Items]
Available-for-sale fixed maturities, Original or amortized cost	54,467,000	70,377,000
Available-for-sale fixed maturities, Gross unrealized gains	304,000	3,547,000
Available-for-sale fixed maturities, Gross unrealized losses	(3,128,000)	(712,000)
Fair value	51,643,000	73,212,000
Other mortgage-backed securities
Schedule of Investments [Line Items]
Available-for-sale fixed maturities, Original or amortized cost	52,337,000	33,676,000
Available-for-sale fixed maturities, Gross unrealized gains	2,443,000	0
Available-for-sale fixed maturities, Gross unrealized losses	0	(232,000)
Fair value	54,780,000	33,444,000
Corporate bonds
Schedule of Investments [Line Items]
Available-for-sale fixed maturities, Original or amortized cost	1,831,431,000	1,546,578,000
Available-for-sale fixed maturities, Gross unrealized gains	89,243,000	82,952,000
Available-for-sale fixed maturities, Gross unrealized losses	(25,295,000)	(22,830,000)
Fair value	1,895,379,000	1,606,700,000
Municipal bonds - auction rate
Schedule of Investments [Line Items]
Available-for-sale fixed maturities, Original or amortized cost		99,170,000
Available-for-sale fixed maturities, Gross unrealized gains		0
Available-for-sale fixed maturities, Gross unrealized losses		0
Fair value		99,170,000
Municipal bonds - other
Schedule of Investments [Line Items]
Available-for-sale fixed maturities, Original or amortized cost	62,153,000	62,130,000
Available-for-sale fixed maturities, Gross unrealized gains	3,666,000	934,000
Available-for-sale fixed maturities, Gross unrealized losses	0	(1,495,000)
Fair value	65,819,000	61,569,000
Short-term investments
Schedule of Investments [Line Items]
Available-for-sale fixed maturities, Original or amortized cost	49,492,000
Available-for-sale fixed maturities, Gross unrealized gains	0
Available-for-sale fixed maturities, Gross unrealized losses	0
Fair value	$ 49,492,000

Investments - Contractual Maturities (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Schedule of Investments [Line Items]
Due in one year or less, Amortized cost	$ 75,844
Due after one year through five years, Amortized cost	530,598
Due after five years through ten years, Amortized cost	1,372,071
Due after ten years, Amortized cost	35,180
Total before securities with single maturities, Amortized cost	2,013,693
Amortized cost	3,379,864	3,127,792
Due in one year or less, Fair value	74,563
Due after one year through five years, Fair value	563,048
Due after five years through ten years, Fair value	1,403,395
Due after ten years, Fair value	38,675
Total before securities with single maturities, Fair value	2,079,681
Fair value	3,456,904	3,162,067
Due in one year or less, % of Total fair value	2.20%
Due after one year through five years, % of Total fair value	16.30%
Due after five years through ten years, % of Total fair value	40.60%
Due after ten years, % of Total fair value	1.10%
Total before securities without single maturities, % of Total fair value	60.20%
% of Total fair value	100.00%	100.00%
U.S. agency bonds – mortgage-backed
Schedule of Investments [Line Items]
Amortized cost of securities without single maturities	1,313,834
Amortized cost	1,313,834	1,292,032
Fair value of securities without single maturities	1,322,443
Fair value	1,322,443	1,262,655
% of Total fair value for securities without single maturities	38.30%
Other mortgage-backed securities
Schedule of Investments [Line Items]
Amortized cost of securities without single maturities	52,337
Amortized cost	52,337	33,676
Fair value of securities without single maturities	54,780
Fair value	$ 54,780	$ 33,444
% of Total fair value for securities without single maturities	1.50%

Investments - Fair Value and Unrealized Losses (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014 security	Dec. 31, 2013 security
Fair value
Less than 12 Months, Fair value	$ 525,149	$ 1,352,843
12 Months or More, Fair value	588,017	229,896
Total, Fair value	1,113,166	1,582,739
Unrealized losses
Less than 12 Months, Unrealized losses	(18,113)	(57,547)
12 Months or More, Unrealized losses	(20,898)	(8,826)
Total, Unrealized losses	(39,011)	(66,373)
Number of securities in loss position (in securities)	141	140
12 Months or More, number of securities (in securities)	46	19
U.S. agency bonds – mortgage-backed
Fair value
Less than 12 Months, Fair value	84,264	795,439
12 Months or More, Fair value	441,601	60,602
Total, Fair value	525,865	856,041
Unrealized losses
Less than 12 Months, Unrealized losses	(806)	(38,421)
12 Months or More, Unrealized losses	(9,782)	(2,683)
Total, Unrealized losses	(10,588)	(41,104)
Non-U.S. government bonds and supranational bonds
Fair value
Less than 12 Months, Fair value	43,712	9,946
12 Months or More, Fair value	2,522	0
Total, Fair value	46,234	9,946
Unrealized losses
Less than 12 Months, Unrealized losses	(2,822)	(712)
12 Months or More, Unrealized losses	(306)	0
Total, Unrealized losses	(3,128)	(712)
Other mortgage-backed securities
Fair value
Less than 12 Months, Fair value		33,444
12 Months or More, Fair value		0
Total, Fair value		33,444
Unrealized losses
Less than 12 Months, Unrealized losses		(232)
12 Months or More, Unrealized losses		0
Total, Unrealized losses		(232)
Corporate bonds
Fair value
Less than 12 Months, Fair value	397,173	463,469
12 Months or More, Fair value	143,894	169,294
Total, Fair value	541,067	632,763
Unrealized losses
Less than 12 Months, Unrealized losses	(14,485)	(16,687)
12 Months or More, Unrealized losses	(10,810)	(6,143)
Total, Unrealized losses	(25,295)	(22,830)
Municipal bonds - other
Fair value
Less than 12 Months, Fair value		50,545
12 Months or More, Fair value		0
Total, Fair value		50,545
Unrealized losses
Less than 12 Months, Unrealized losses		(1,495)
12 Months or More, Unrealized losses		0
Total, Unrealized losses		$ (1,495)

Investments - Credit Ratings (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Schedule of Available-for-sale Securities [Line Items]
OTTI recognized through earnings	$ (2,364)	$ 0	$ 0
Amortized cost	3,379,864	3,127,792
Fair value	3,456,904	3,162,067
% of Total fair value	100.00%	100.00%
AAA
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	193,280	210,872
Fair value	202,973	222,417
% of Total fair value	5.90%	7.00%
AA Plus, AA, AA Minus
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	116,936	236,424
Fair value	120,679	242,986
% of Total fair value	3.50%	7.70%
A Plus, A, A Minus
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	883,092	619,148
Fair value	917,544	651,248
% of Total fair value	26.50%	20.60%
BBB Plus, BBB, BBB Minus
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	794,244	689,532
Fair value	814,039	701,529
% of Total fair value	23.50%	22.20%
BB Plus or Lower
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	62,328	55,955
Fair value	61,878	55,915
% of Total fair value	1.80%	1.80%
U.S. treasury bonds
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	8,937	16,622
Fair value	9,360	17,209
% of Total fair value	0.30%	0.50%
U.S. agency bonds
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	1,321,047	1,299,239
Fair value	$ 1,330,431	$ 1,270,763
% of Total fair value	38.50%	40.20%

Investments - Other Investments (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
Schedule of Investments [Line Items]
Other investments	$ 12,571,000	$ 5,092,000
% of Total fair value	100.00%	100.00%
Investments in limited partnerships
Schedule of Investments [Line Items]
Other investments	5,581,000	4,092,000
% of Total fair value	44.40%	80.40%
Unfunded commitment on investments in limited partnerships	736,000	2,088,000
Investments in quoted equity
Schedule of Investments [Line Items]
Other investments	5,990,000	0
% of Total fair value	47.60%	0.00%
Other
Schedule of Investments [Line Items]
Other investments	$ 1,000,000	$ 1,000,000
% of Total fair value	8.00%	19.60%

Investments - Net Investment Income (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Investment income	$ 122,470	$ 95,779	$ 84,923
Investment expenses	(5,255)	(4,427)	(3,735)
Net investment income	117,215	91,352	81,188
Fixed maturities
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Investment income	118,203	89,350	79,891
Cash and cash equivalents
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Investment income	2,224	3,120	1,439
Funds withheld
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Investment income	246	1,452	1,648
Loan to related party
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Investment income	$ 1,797	$ 1,857	$ 1,945

Investments - Realized Gains (Losses) on Investment (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Gain (Loss) on Investments [Line Items]
Gross gains	$ 3,523	$ 1,163	$ 5,786
Gross losses	(1,616)	0	(2,201)
Realized gains (losses), Net	1,907	1,163	3,585
Proceeds from sales of fixed maturities classified as available-for-sale		171,216	355,863	142,694
Net unrealized gains	143,797	78,749	34,845	143,797
Deferred income tax expense	(132)	(170)	(117)	(132)
Net unrealized gains, net of deferred income tax	143,665	78,579	34,728	143,665
Change in net unrealized gains, net of deferred income tax		43,851	(108,937)	79,928
Other investments
Gain (Loss) on Investments [Line Items]
Gross gains	55	439	188
Gross losses	(11)	0	0
Realized gains (losses), Net	44	439	188
Net unrealized gains	302	1,709	570	302
Fixed maturities \| Available-for-sale securities
Gain (Loss) on Investments [Line Items]
Gross gains	3,468	724	5,598
Gross losses	(13)	0	(2,201)
Realized gains (losses), Net	3,455	724	3,397
Net unrealized gains	143,495	77,040	34,275	143,495
Trading securities and short sales
Gain (Loss) on Investments [Line Items]
Gross gains	0
Gross losses	(1,592)
Realized gains (losses), Net	$ (1,592)

Investments - Restricted Cash and Investments (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Restricted Cash and Investments Items [Line Items]
Restricted cash	$ 284,381	$ 77,360
Restricted investments	2,836,962	2,154,338
Restricted cash and investments	3,121,343	2,231,698
Amortized cost	3,390,726	3,132,314
Third party agreements
Restricted Cash and Investments Items [Line Items]
Restricted cash	107,884	72,877
Restricted investments	1,014,878	939,800
Amortized cost	993,974	933,897
Related party agreements
Restricted Cash and Investments Items [Line Items]
Restricted cash	175,817	4,429
Restricted investments	1,814,478	1,201,473
Amortized cost	1,769,083	1,183,156
US state regulatory authorities
Restricted Cash and Investments Items [Line Items]
Restricted cash	680	54
Restricted investments	7,606	13,065
Amortized cost	$ 7,269	$ 12,730

Fair Value Measurements - Fair Value Hierarchy (Details) (USD $)	Dec. 31, 2014 security	Dec. 31, 2013 security
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, number of securities	1	5
Other investments	$ 12,571,000	$ 5,092,000
Investments in limited partnerships
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments	5,581,000	4,092,000
Other investments, percent of assets	0.20%
U.S. agency bonds – other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, number of securities		5
Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, number of securities	1
Fair Value, Measurements, Recurring \| Total Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments, fair value	12,571,000	5,092,000
Total assets fair value	3,469,475,000	3,167,159,000
Percentage of total assets	67.20%	67.20%
Fair Value, Measurements, Recurring \| Total Fair Value \| Available-for-sale fixed maturities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets valued by third party, percentage	99.90%	95.30%
Assets valued using market approach, percentage (in securities)	0.10%	4.70%
Assets valued using market approach, amount	5,016,000	150,298,000
Fair Value, Measurements, Recurring \| Total Fair Value \| U.S. treasury bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, fair value	9,360,000	17,209,000
Fair Value, Measurements, Recurring \| Total Fair Value \| U.S. agency bonds – mortgage-backed
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, fair value	1,322,443,000	1,262,655,000
Fair Value, Measurements, Recurring \| Total Fair Value \| U.S. agency bonds – other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, fair value	7,988,000	8,108,000
Fair Value, Measurements, Recurring \| Total Fair Value \| Non-U.S. government bonds and supranational bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, fair value	51,643,000	73,212,000
Fair Value, Measurements, Recurring \| Total Fair Value \| Other mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, fair value	54,780,000	33,444,000
Fair Value, Measurements, Recurring \| Total Fair Value \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, fair value	1,895,379,000	1,606,700,000
Fair Value, Measurements, Recurring \| Total Fair Value \| Municipal bonds - auction rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, fair value		99,170,000
Fair Value, Measurements, Recurring \| Total Fair Value \| Municipal bonds - other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, fair value	65,819,000	61,569,000
Fair Value, Measurements, Recurring \| Total Fair Value \| Short-term investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, fair value	49,492,000
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments, fair value	5,990,000	0
Total assets fair value	15,350,000	17,209,000
Percentage of total assets	0.30%	0.40%
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| U.S. treasury bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, fair value	9,360,000	17,209,000
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| U.S. agency bonds – mortgage-backed
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, fair value	0	0
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| U.S. agency bonds – other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, fair value	0	0
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Non-U.S. government bonds and supranational bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, fair value	0	0
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Other mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, fair value	0	0
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, fair value	0	0
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Municipal bonds - auction rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, fair value		0
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Municipal bonds - other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, fair value	0	0
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Short-term investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, fair value	0
Fair Value, Measurements, Recurring \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments, fair value	0	0
Total assets fair value	3,447,544,000	3,144,858,000
Percentage of total assets	66.80%	66.70%
Fair Value, Measurements, Recurring \| Significant Other Observable Inputs (Level 2) \| U.S. treasury bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, fair value	0	0
Fair Value, Measurements, Recurring \| Significant Other Observable Inputs (Level 2) \| U.S. agency bonds – mortgage-backed
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, fair value	1,322,443,000	1,262,655,000
Fair Value, Measurements, Recurring \| Significant Other Observable Inputs (Level 2) \| U.S. agency bonds – other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, fair value	7,988,000	8,108,000
Fair Value, Measurements, Recurring \| Significant Other Observable Inputs (Level 2) \| Non-U.S. government bonds and supranational bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, fair value	51,643,000	73,212,000
Fair Value, Measurements, Recurring \| Significant Other Observable Inputs (Level 2) \| Other mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, fair value	54,780,000	33,444,000
Fair Value, Measurements, Recurring \| Significant Other Observable Inputs (Level 2) \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, fair value	1,895,379,000	1,606,700,000
Fair Value, Measurements, Recurring \| Significant Other Observable Inputs (Level 2) \| Municipal bonds - auction rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, fair value		99,170,000
Fair Value, Measurements, Recurring \| Significant Other Observable Inputs (Level 2) \| Municipal bonds - other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, fair value	65,819,000	61,569,000
Fair Value, Measurements, Recurring \| Significant Other Observable Inputs (Level 2) \| Short-term investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, fair value	49,492,000
Fair Value, Measurements, Recurring \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments, fair value	6,581,000	5,092,000
Total assets fair value	6,581,000	5,092,000
Percentage of total assets	0.10%	0.10%
Fair Value, Measurements, Recurring \| Significant Unobservable Inputs (Level 3) \| U.S. treasury bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, fair value	0	0
Fair Value, Measurements, Recurring \| Significant Unobservable Inputs (Level 3) \| U.S. agency bonds – mortgage-backed
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, fair value	0	0
Fair Value, Measurements, Recurring \| Significant Unobservable Inputs (Level 3) \| U.S. agency bonds – other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, fair value	0	0
Fair Value, Measurements, Recurring \| Significant Unobservable Inputs (Level 3) \| Non-U.S. government bonds and supranational bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, fair value	0	0
Fair Value, Measurements, Recurring \| Significant Unobservable Inputs (Level 3) \| Other mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, fair value	0	0
Fair Value, Measurements, Recurring \| Significant Unobservable Inputs (Level 3) \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, fair value	0	0
Fair Value, Measurements, Recurring \| Significant Unobservable Inputs (Level 3) \| Municipal bonds - auction rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, fair value		0
Fair Value, Measurements, Recurring \| Significant Unobservable Inputs (Level 3) \| Municipal bonds - other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, fair value	0	0
Fair Value, Measurements, Recurring \| Significant Unobservable Inputs (Level 3) \| Short-term investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, fair value	0
Preferred stock \| Other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments	$ 1,000,000

Fair Value Measurements - Changes in Level 3 Financial Instruments (Details) (Other investments, Fair Value, Measurements, Recurring, Significant Unobservable Inputs (Level 3), USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Other investments \| Fair Value, Measurements, Recurring \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period	$ 5,092	$ 2,901
Total realized gains – included in net realized and unrealized gains on investment	439	188
Total realized (losses) – included in net realized and unrealized gains on investment	0	0
Change in total unrealized gains – included in other comprehensive (loss) income	1,139	268
Change in total unrealized losses – included in other comprehensive (loss) income	0	0
Purchases	6,698	2,135
Sales and redemptions	(797)	(400)
Transfers into Level 3	0	0
Transfers out of Level 3	(5,990)	0
Balance at end of period	6,581	5,092
Level 3 gains (losses) included in net income attributable to the change in unrealized gains (losses) relating to assets held at the reporting date	$ 0	$ 0

Fair Value Measurements - Fair Value of Liabilities (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior notes	$ 360,000	$ 360,000
Junior subordinated debt	0	126,381
Senior notes \| Significant Other Observable Inputs (Level 2) \| 2011 Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Stated interest rate	8.25%
Senior notes \| Significant Other Observable Inputs (Level 2) \| 2012 Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Stated interest rate	8.00%
Senior notes \| Significant Other Observable Inputs (Level 2) \| 2013 Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Stated interest rate	7.75%
Junior subordinated debt \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Stated interest rate	14.00%
Carrying Value \| Senior notes \| Significant Other Observable Inputs (Level 2) \| 2011 Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior notes	107,500	107,500
Carrying Value \| Senior notes \| Significant Other Observable Inputs (Level 2) \| 2012 Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior notes	100,000	100,000
Carrying Value \| Senior notes \| Significant Other Observable Inputs (Level 2) \| 2013 Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior notes	152,500	152,500
Carrying Value \| Junior subordinated debt \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Junior subordinated debt	0	126,381
Fair Value \| Senior notes \| Significant Other Observable Inputs (Level 2) \| 2011 Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior notes	113,391	101,480
Fair Value \| Senior notes \| Significant Other Observable Inputs (Level 2) \| 2012 Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior notes	106,320	89,760
Fair Value \| Senior notes \| Significant Other Observable Inputs (Level 2) \| 2013 Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior notes	162,016	126,209
Fair Value \| Junior subordinated debt \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Junior subordinated debt	$ 0	$ 152,500

- Definition

Including the current and noncurrent portions, carrying value as of the balance sheet date of long-term debt (with maturities initially due after one year or beyond the operating cycle if longer) identified as Junior Subordinated Notes, which have a lower priority than senior instruments.

+ References+ Details

Goodwill and Intangible Assets - Intangible Assets (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Intangible Assets, Net (Including Goodwill) [Roll Forward]
Goodwill, beginning balance	$ 58,312	$ 58,312
Intangible assets, beginning balance	32,301	36,081
Goodwill and Intangible Assets, beginning balance	90,613	94,393
Amortization	(3,277)	(3,780)	(4,362)
Goodwill, ending balance	58,312	58,312	58,312
Intangible assets, ending balance	29,024	32,301	36,081
Goodwill and Intangible Assets, ending balance	$ 87,336	$ 90,613	$ 94,393

Goodwill and Intangible Assets - Components of Intangible Assets (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Goodwill and Intangible Assets [Line Items]
Goodwill	$ 58,312,000	$ 58,312,000	$ 58,312,000
Accumulated Amortization	(30,103,000)	(26,826,000)
Balance, Gross	117,439,000	117,439,000
Balance, Net	87,336,000	90,613,000	94,393,000
Impairment of goodwill and intangible assets	0	0	0
Customer relationships
Goodwill and Intangible Assets [Line Items]
Finite-lived assets	51,400,000	51,400,000
Accumulated Amortization	(30,103,000)	(26,826,000)
Finite-lived assets, Net	21,297,000	24,574,000
Useful Life	15 years	15 years
State licenses
Goodwill and Intangible Assets [Line Items]
Indefinite-lived assets	$ 7,727,000	$ 7,727,000

Goodwill and Intangible Assets - Estimated Amortization (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014
Estimated amortization expenses for the next five years [Abstract]
2015	$ 2,840
2016	2,461
2017	2,133
2018	1,848
2019	$ 1,602

Long-Term Debt (Details) (USD $) In Thousands, unless otherwise specified	0 Months Ended	12 Months Ended
	Jan. 15, 2014	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Debt Instrument [Line Items]
Interest expense		$ 29,580	$ 39,497	$ 36,384
Principal amount repurchased		152,500	0	0
Accelerated amortization of debt issuance costs and discount		28,240	0	0
Senior Notes
Debt Instrument [Line Items]
Interest expense		28,687	18,084	14,980
Accrued interest		1,523	1,720
Debt issuance costs		375	223	266
Junior subordinated debt
Debt Instrument [Line Items]
Interest expense		893	21,413	21,404
Accrued interest		0	4,448
Principal amount repurchased	152,500
Accelerated amortization of debt issuance costs and discount	$ 28,240

- Definition

Carrying value as of the balance sheet date of [accrued] interest payable on all forms of debt, including trade payables, that has been incurred and is unpaid. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

+ References+ Details

Long-Term Debt - Senior Notes Issuances (Details) (Senior Notes, USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Debt Instrument [Line Items]
Debt Issuance Costs	$ 375,000	$ 223,000	$ 266,000
2011 Senior Notes
Debt Instrument [Line Items]
Principal	107,500,000
Debt Issuance Costs	2,811,000
Net Proceeds	104,689,000
Coupon rate	8.25%
Effective interest rate	8.47%
2012 Senior Notes
Debt Instrument [Line Items]
Principal	100,000,000
Debt Issuance Costs	3,406,000
Net Proceeds	96,594,000
Coupon rate	8.00%
Effective interest rate	8.28%
2013 Senior Notes
Debt Instrument [Line Items]
Principal	152,500,000
Debt Issuance Costs	5,054,000
Net Proceeds	$ 147,446,000
Coupon rate	7.75%
Effective interest rate	8.04%

Reinsurance (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Reinsurance Disclosures [Abstract]
Premiums written, Direct	$ 48,565	$ 104,976	$ 122,412
Premiums written, assumed	2,458,787	2,099,183	1,878,580
Premiums written, Ceded	(49,216)	(107,858)	(99,707)
Premiums written, Net	2,458,136	2,096,301	1,901,285
Premium earned, Direct	70,807	118,170	119,398
Premium earned, Assumed	2,253,750	1,994,225	1,780,745
Premium earned, Ceded	(72,814)	(111,508)	(96,363)
Net premiums earned	2,251,743	2,000,887	1,803,780
Gross loss and loss adjustment expenses	1,592,795	1,421,328	1,457,404
Loss and loss adjustment expenses ceded	(94,524)	(71,698)	(195,056)
Net loss and loss adjustment expenses	$ 1,498,271	$ 1,349,630	$ 1,262,348

Reinsurance - Narrative (Details) (Reinsurance recoverable, Customer concentration risk)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Rating A or better
Concentration Risk [Line Items]
Concentration risk, percentage	92.90%
Rating A-
Concentration Risk [Line Items]
Concentration risk, percentage	5.60%
Rating B Plus Plus
Concentration Risk [Line Items]
Concentration risk, percentage	0.90%
Major customer one
Concentration Risk [Line Items]
Concentration risk, percentage	45.60%	38.00%
Major customer two
Concentration Risk [Line Items]
Concentration risk, percentage	10.60%	13.30%
Major customer three
Concentration Risk [Line Items]
Concentration risk, percentage	9.90%	11.70%

Reserve for Loss and Loss Adjustment Expenses (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Reserve for reported loss and LAE	$ 1,252,284	$ 1,087,401
Reserve for losses incurred but not reported	1,019,008	870,434
Reserve for loss and loss adjustment expenses	2,271,292	1,957,835	1,740,281
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Reserve for loss and loss adjustment expenses	1,957,835	1,740,281	1,398,438
Less: reinsurance recoverable on unpaid losses	84,036	110,858	20,289
Net loss and loss adjustment expense reserves	1,873,799	1,629,423	1,378,149
Net incurred losses related to Current year	1,479,425	1,351,043	1,239,016
Net incurred losses related to Prior years	18,846	(1,413)	23,332
Net incurred losses	1,498,271	1,349,630	1,262,348
Net paid losses related to Current year	(430,394)	(517,606)	(485,015)
Net paid losses related to Prior years	(705,397)	(598,490)	(530,294)
Net paid losses	(1,135,791)	(1,116,096)	(1,015,309)
Effect of foreign exchange movements	(40,860)	10,842	4,235
Net loss and loss adjustment expense reserves	2,195,419	1,873,799	1,629,423
Reinsurance recoverable on unpaid losses	75,873	84,036	110,858
Reserve for loss and loss adjustment expenses	2,271,292	1,957,835	1,740,281
Percentage of prior year net loss and loss adjustment expense reserves	1.00%	0.10%	1.70%
NGHC Quota Share
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Net incurred losses related to Current year	$ 8,371	$ 6,078	$ 5,179

Related Party Transactions - AmTrust (Details)	12 Months Ended							12 Months Ended		0 Months Ended			1 Months Ended	2 Months Ended	9 Months Ended	12 Months Ended	15 Months Ended	67 Months Ended	12 Months Ended				33 Months Ended			40 Months Ended	12 Months Ended						16 Months Ended	40 Months Ended	12 Months Ended						21 Months Ended	12 Months Ended								21 Months Ended	33 Months Ended	12 Months Ended			78 Months Ended	12 Months Ended			10 Months Ended	12 Months Ended			0 Months Ended	2 Months Ended	21 Months Ended	2 Months Ended	21 Months Ended
Related Party Transactions - AmTrust (Details)	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)	Dec. 31, 2012 USD ($)	Dec. 31, 2014 AmTrust Financial Services, Inc. AmTrust Europe Limited Binding Authority Contract [Member] USD ($)	Dec. 31, 2014 AmTrust Financial Services, Inc. AmTrust Europe Limited Binding Authority Contract [Member] EUR (€)	Dec. 31, 2014 Founding shareholders AmTrust Financial Services, Inc.	Dec. 31, 2014 Leah Karfunkel American Capital Acquisition Corp.	Dec. 31, 2014 AmTrust Financial Services, Inc. USD ($)	Dec. 31, 2013 AmTrust Financial Services, Inc. USD ($)	Mar. 07, 2013 AmTrust Financial Services, Inc. AmTrust Reinsurance	Feb. 09, 2009 AmTrust Financial Services, Inc. AmTrust Reinsurance USD ($)	Jun. 11, 2008 AmTrust Financial Services, Inc. AmTrust Reinsurance USD ($)	Jul. 31, 2007 AmTrust Financial Services, Inc. AmTrust Reinsurance	Mar. 06, 2013 AmTrust Financial Services, Inc. AmTrust Reinsurance	Dec. 31, 2011 AmTrust Financial Services, Inc. AmTrust Reinsurance	Dec. 31, 2014 AmTrust Financial Services, Inc. AmTrust Reinsurance	Mar. 31, 2011 AmTrust Financial Services, Inc. AmTrust Reinsurance	Dec. 31, 2013 AmTrust Financial Services, Inc. AmTrust Reinsurance	Dec. 31, 2014 AmTrust Financial Services, Inc. AmTrust Reinsurance Commissions paid USD ($)	Dec. 31, 2013 AmTrust Financial Services, Inc. AmTrust Reinsurance Commissions paid USD ($)	Dec. 31, 2012 AmTrust Financial Services, Inc. AmTrust Reinsurance Commissions paid USD ($)	Dec. 31, 2014 AmTrust Financial Services, Inc. AmTrust European Hospital Liability Quota Share Agreement EUR (€)	Dec. 31, 2013 AmTrust Financial Services, Inc. AmTrust European Hospital Liability Quota Share Agreement EUR (€)	Dec. 31, 2014 AmTrust Financial Services, Inc. AmTrust European Hospital Liability Quota Share Agreement USD ($)	Dec. 31, 2013 AmTrust Financial Services, Inc. AmTrust European Hospital Liability Quota Share Agreement USD ($)	Dec. 31, 2013 AmTrust Financial Services, Inc. AmTrust Technology Reinsurance Agreement	Dec. 31, 2014 AmTrust Financial Services, Inc. AmTrust Technology Reinsurance Agreement Premiums earned USD ($)	Dec. 31, 2013 AmTrust Financial Services, Inc. AmTrust Technology Reinsurance Agreement Premiums earned USD ($)	Dec. 31, 2012 AmTrust Financial Services, Inc. AmTrust Technology Reinsurance Agreement Premiums earned USD ($)	Dec. 31, 2014 AmTrust Financial Services, Inc. AmTrust Technology Reinsurance Agreement Commissions paid USD ($)	Dec. 31, 2013 AmTrust Financial Services, Inc. AmTrust Technology Reinsurance Agreement Commissions paid USD ($)	Dec. 31, 2012 AmTrust Financial Services, Inc. AmTrust Technology Reinsurance Agreement Commissions paid USD ($)	Dec. 31, 2013 AmTrust Financial Services, Inc. AmTrust SNIC Reinsurance Agreement	Dec. 31, 2013 AmTrust Financial Services, Inc. AmTrust SNIC Reinsurance Agreement	Dec. 31, 2014 AmTrust Financial Services, Inc. AmTrust SNIC Reinsurance Agreement Premiums earned USD ($)	Dec. 31, 2013 AmTrust Financial Services, Inc. AmTrust SNIC Reinsurance Agreement Premiums earned USD ($)	Dec. 31, 2012 AmTrust Financial Services, Inc. AmTrust SNIC Reinsurance Agreement Premiums earned USD ($)	Dec. 31, 2014 AmTrust Financial Services, Inc. AmTrust SNIC Reinsurance Agreement Commissions paid USD ($)	Dec. 31, 2013 AmTrust Financial Services, Inc. AmTrust SNIC Reinsurance Agreement Commissions paid USD ($)	Dec. 31, 2012 AmTrust Financial Services, Inc. AmTrust SNIC Reinsurance Agreement Commissions paid USD ($)	Dec. 31, 2013 AmTrust Financial Services, Inc. AmTrust NA Reinsurance Agreement USD ($)	Dec. 31, 2014 AmTrust Financial Services, Inc. AmTrust NA Reinsurance Agreement Premiums earned USD ($)	Dec. 31, 2013 AmTrust Financial Services, Inc. AmTrust NA Reinsurance Agreement Premiums earned USD ($)	Dec. 31, 2012 AmTrust Financial Services, Inc. AmTrust NA Reinsurance Agreement Premiums earned USD ($)	Dec. 31, 2014 AmTrust Financial Services, Inc. AmTrust NA Reinsurance Agreement Commissions paid USD ($)	Dec. 31, 2013 AmTrust Financial Services, Inc. AmTrust NA Reinsurance Agreement Commissions paid USD ($)	Dec. 31, 2012 AmTrust Financial Services, Inc. AmTrust NA Reinsurance Agreement Commissions paid USD ($)	Dec. 31, 2014 AmTrust Financial Services, Inc. Reinsurer Trust Assets Collateral Agreement USD ($)	Dec. 31, 2013 AmTrust Financial Services, Inc. Reinsurer Trust Assets Collateral Agreement USD ($)	Dec. 31, 2012 AmTrust Financial Services, Inc. Reinsurance Brokerage Agreements	Dec. 31, 2013 AmTrust Financial Services, Inc. Reinsurance Brokerage Agreements	Dec. 31, 2014 AmTrust Financial Services, Inc. Reinsurance Brokerage Agreements Brokerage expense USD ($)	Dec. 31, 2013 AmTrust Financial Services, Inc. Reinsurance Brokerage Agreements Brokerage expense USD ($)	Dec. 31, 2012 AmTrust Financial Services, Inc. Reinsurance Brokerage Agreements Brokerage expense USD ($)	Dec. 31, 2013 AmTrust Financial Services, Inc. Asset Management Agreement USD ($)	Dec. 31, 2014 AmTrust Financial Services, Inc. Asset Management Agreement Investment management fees USD ($)	Dec. 31, 2013 AmTrust Financial Services, Inc. Asset Management Agreement Investment management fees USD ($)	Dec. 31, 2012 AmTrust Financial Services, Inc. Asset Management Agreement Investment management fees USD ($)	Dec. 31, 2011 AmTrust Financial Services, Inc. AmTrust Time Sharing Agreement	Dec. 31, 2014 AmTrust Financial Services, Inc. AmTrust Time Sharing Agreement Aircraft expenses USD ($)	Dec. 31, 2013 AmTrust Financial Services, Inc. AmTrust Time Sharing Agreement Aircraft expenses USD ($)	Dec. 31, 2012 AmTrust Financial Services, Inc. AmTrust Time Sharing Agreement Aircraft expenses USD ($)	Jun. 06, 2013 Common shares AmTrust Financial Services, Inc. American Capital Acquisition Corp.	Mar. 06, 2013 Minimum AmTrust Financial Services, Inc. AmTrust Reinsurance	Dec. 31, 2013 Minimum AmTrust Financial Services, Inc. AmTrust NA Reinsurance Agreement	Mar. 06, 2013 Maximum AmTrust Financial Services, Inc. AmTrust Reinsurance	Dec. 31, 2013 Maximum AmTrust Financial Services, Inc. AmTrust NA Reinsurance Agreement	Dec. 31, 2014 LIBOR AmTrust Financial Services, Inc.
Related Party Transaction [Line Items]
Controlling interest, ownership percentage						53.90%
Noncontrolling interest, ownership percentage							48.80%
Number of shares issued (in shares)	184,396																																																														0.132
Percent of premiums written, net of cost of unaffiliated inuring reinsurance from related party												100.00%	40.00%																				100.00%
Percent of losses with respect to current lines of business, excluding those above covered business threshold to related party													40.00%	40.00%
Covered business threshold											$ 5,000,000
Premiums and losses related to covered business to cede																		40.00%
Commission rate, percent of ceded written premiums														31.00%	30.00%	31.00%	31.00%	34.375%					5.00%			5.00%								5.00%																															10.00%		27.50%
Commission rate, adjustment criteria, loss ratio floor																																																																81.50%
Commission rate, adjustment criteria, loss ratio ceiling																																																																		95.00%
Maximum limit of liability attaching																						10,000,000	5,000,000
Related Party Transaction, Percent Basis Currency Equivalent of Maximum Limit of Liability Attaching																							100.00%
Unearned premiums	1,207,757,000	1,034,754,000										82,200,000
Commission rate, adjustment to percent of ceded written premiums																1.00%
Commission rate, adjusted percent of ceded written premiums																30.00%
Commission rate, adjustment criteria, threshold percent of specialty risk and extended warranty to covered business																42.00%
Commission rate, adjustment criteria 2, floor percent of specialty risk and extended warranty to covered business																38.00%
Commission rate, reduced adjustment to percent of ceded written premiums																0.50%
Commission rate, reduced adjustment to percent of ceded written premiums																30.50%
Contract extension										3 years																																																	1 year
Cancellation notice period										9 months																																									30 days
Cancellation notice period upon the occurrence of certain early termination events										30 days																																													30 days
Early termination events, reduction threshold of stockholders' equity										50.00%
Premiums and losses related to policies																							40.00%
Percent basis currency equivalent of maximum limit of liability attaching																						100.00%
Agreement period																										3 years															1 year
Revenue from related parties																											171,000	928,000	7,363,000						1,796,000	4,785,000	2,145,000					1,241,000	643,000	388,000
Percent of gross liabilities, from related party																																	100.00%	80.00%
Percent of gross liabilities, from third party																																		20.00%
Expenses recorded from related party transactions																			401,679,000	279,197,000	191,450,000									8,000	186,000	2,171,000						90,000	239,000	107,000					262,000	158,000	81,000					17,229,000	12,361,000	9,097,000		5,214,000	4,388,000	3,697,000		88,000	57,000	38,000
Maximum liability per injured person					20,000
Net premiums written	2,458,136,000	2,096,301,000	1,901,285,000	0
Reinsurance coverage threshold																																									1,000,000
Percent of credit insurance business to cede																										90.00%
Percent of general liability business to cede																										100.00%
Loan to related party	167,975,000	167,975,000						167,975,000	167,975,000
Loan to related party, Basis spread on LIBOR																																																																				0.90%
Loan to related party, LIBOR basis spread assessment period								360 days
Collateral held by related party																								230,618,000	0																							1,691,970,000	1,094,964,000
Accrued interest on collateral held by related party																								3,185,000																								10,413,000	8,159,000
Brokerage fee, percent of premium assumed																																																		1.25%
Reserve for loss and loss adjustment expenses																																																				11,423,000	8,592,000
Quarterly brokerage fee, portfolio threshold																																																							$ 1,000,000,000
Quarterly brokerage fee, above portfolio threshold, percent of average holdings																																																							0.0375%

Related Party Transactions - NGHC (Details) (USD $)	12 Months Ended			0 Months Ended		12 Months Ended
Related Party Transactions - NGHC (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Oct. 01, 2012 American Capital Acquisition Corp. NGHC Quota Share Reinsurance Agreement	Mar. 01, 2010 American Capital Acquisition Corp. NGHC Quota Share Reinsurance Agreement	Dec. 31, 2014 American Capital Acquisition Corp. NGHC Quota Share Reinsurance Agreement Commissions paid	Dec. 31, 2013 American Capital Acquisition Corp. NGHC Quota Share Reinsurance Agreement Commissions paid	Dec. 31, 2012 American Capital Acquisition Corp. NGHC Quota Share Reinsurance Agreement Commissions paid	Dec. 31, 2014 American Capital Acquisition Corp. NGHC Subsidiaries Reinsurance Agreement	Dec. 31, 2013 American Capital Acquisition Corp. NGHC Subsidiaries Reinsurance Agreement	Dec. 31, 2014 American Capital Acquisition Corp. NGHC Subsidiaries Reinsurance Agreement Layer one	Dec. 31, 2013 American Capital Acquisition Corp. NGHC Subsidiaries Reinsurance Agreement Layer one	Dec. 31, 2013 American Capital Acquisition Corp. NGHC Subsidiaries Reinsurance Agreement Layer two
Related Party Transaction [Line Items]
Percent of net premiums of personal lines business reinsured					25.00%
Related Party Transaction, Percent of Net Premiums of Personal Lines Business Received by Subsidiary					25.00%
Related Party Transaction, Percent Participation in Quota Share by Subsidiary					50.00%
Commission rate, percent of ceded written premiums				32.00%	32.50%
Commission rate, adjusted percent of ceded written premiums					34.50%
Commission rate, adjustment criteria, loss ratio ceiling					60.00%
Commission rate, reduced adjustment to percent of ceded written premiums				30.00%	30.50%
Commission rate, adjustment criteria, loss ratio floor				64.50%	64.50%
Expenses recorded from related party transactions						$ 6,509,000	$ 75,382,000	$ 85,296,000
Liability percentage											100.00%	100.00%	100.00%
Reinsurance coverage threshold											1,100,000	1,000,000
Reinsurance coverage limit											8,900,000	4,000,000	5,000,000
Maximum limit of liability attaching									2,000,000	2,000,000
Premiums earned	$ 2,251,743,000	$ 2,000,887,000	$ 1,803,780,000						$ 190,000	$ 180,000

Commitments and Contingencies (Details) (USD $)	12 Months Ended
Commitments and Contingencies (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Loss Contingencies [Line Items]
Net premiums written	$ 2,458,136,000	$ 2,096,301,000	$ 1,901,285,000
Letters of credit outstanding	82,489,000	93,860,000
Renewal term	5 years
Rent expense	2,432,000	2,286,000	2,485,000
2015	1,643,000
2016	1,210,000
2017	1,028,000
2018	463,000
2019	513,000
Total	4,857,000
Dividends declared per common share (in dollars per share)	$ 0.46	$ 0.38	$ 0.33
Letter of credit
Loss Contingencies [Line Items]
Collateral	115,151,000	99,482,000
AmTrust Reinsurance
Loss Contingencies [Line Items]
Net premiums written	1,610,485,000	1,169,961,000	840,348,000
Diversified Reinsurance
Loss Contingencies [Line Items]
Net premiums written	850,049,000	763,374,000	745,679,000
Segment concentration risk \| Gross premiums written \| AmTrust Reinsurance
Loss Contingencies [Line Items]
Concentration risk, percentage	64.20%	53.10%	42.00%
Broker concentration risk \| Gross premiums written \| Diversified Reinsurance
Loss Contingencies [Line Items]
Concentration risk, percentage	57.10%	57.70%	66.10%
Number of major brokers	3
Broker concentration risk \| Gross premiums written \| Diversified Reinsurance \| Top 3 Brokers
Loss Contingencies [Line Items]
Concentration risk, percentage	31.60%	29.90%	37.10%
Broker concentration risk \| Gross premiums written \| Diversified Reinsurance \| Aon Benfield Group, Ltd.
Loss Contingencies [Line Items]
Concentration risk, percentage	15.80%	11.90%	10.10%
Broker concentration risk \| Gross premiums written \| Diversified Reinsurance \| Marsh & McLennan Inc.
Loss Contingencies [Line Items]
Concentration risk, percentage	12.00%	12.60%	18.00%
Broker concentration risk \| Gross premiums written \| Diversified Reinsurance \| Tiger Risk Partners
Loss Contingencies [Line Items]
Concentration risk, percentage	3.80%
Broker concentration risk \| Gross premiums written \| Diversified Reinsurance \| Beach & Associates, Ltd.
Loss Contingencies [Line Items]
Concentration risk, percentage		5.40%	9.00%
Investments in limited partnerships
Loss Contingencies [Line Items]
Unfunded commitment on investments in limited partnerships	$ 736,000	$ 2,088,000

Earnings per Common Share (Details) (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net income (loss)	$ 27,514	$ 27,798	$ 25,804	$ (4,062)	$ 20,806	$ 21,904	$ 20,205	$ 24,986	$ 101,391	$ 102,735	$ 50,154
Dividends on preference shares									(24,337)	(14,834)	(3,644)
Amount allocated to participating common shareholders									(94)	(116)	0
Numerator for basic EPS - net income allocated to Maiden common shareholders									76,960	87,785	46,510
Dividends on convertible preference shares - Series B									0	2,459	0
Numerator for diluted EPS - net income allocated to Maiden common shareholders after assumed conversion									76,960	90,244	46,510
Weighted average number of common shares outstanding – basic (in shares)									72,843,782	72,510,361	72,263,022
Potentially dilutive securities:
Share options and restricted share units (in shares)									1,273,786	1,253,479	842,509
Convertible preference shares (in shares)									0	2,653,999	0
Weighted average number of common shares outstanding – diluted (in shares)									74,117,568	76,417,839	73,105,531
Basic earnings (loss) per share attributable to Maiden shareholders: (in dollars per share)	$ 0.38	$ 0.38	$ 0.35	$ (0.06)	$ 0.29	$ 0.30	$ 0.28	$ 0.35	$ 1.06	$ 1.21	$ 0.64
Diluted earnings (loss) per share attributable to Maiden shareholders: (in dollars per share)	$ 0.36	$ 0.36	$ 0.34	$ (0.06)	$ 0.27	$ 0.30	$ 0.27	$ 0.34	$ 1.04	$ 1.18	$ 0.64
Series A Preference Shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dividends on preference shares									(12,375)	(12,375)	(3,644)
Series B Convertible Preference Shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dividends on preference shares									$ (11,962)	$ (2,459)	$ 0

Earnings per Common Share - Anti-dilutive Securities (Details)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Incremental common shares attributable to contingent conversion of preferred stock	10,718,483
Increase (Decrease) in incremental common shares attributable to contingent conversion of preferred stock	73,321
Share options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive share options excluded from the calculation of diluted earnings per common share	17,293	0	404,321

- Definition

Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.

+ References+ Details

Shareholders' Equity (Details) (USD $)	0 Months Ended	12 Months Ended			1 Months Ended	3 Months Ended		12 Months Ended		0 Months Ended	12 Months Ended				3 Months Ended
Shareholders' Equity (Details) (USD $)	Feb. 19, 2014	Dec. 31, 2014 director	Dec. 31, 2013	Dec. 31, 2012	Oct. 31, 2013 Mandatory Convertible Preference Shares - Series B	Dec. 31, 2013 Mandatory Convertible Preference Shares - Series B	Dec. 31, 2013 Mandatory Convertible Preference Shares - Series B	Dec. 31, 2014 Mandatory Convertible Preference Shares - Series B	Dec. 31, 2013 Mandatory Convertible Preference Shares - Series B	Aug. 22, 2012 Preference Shares - Series A	Dec. 31, 2014 Preference Shares - Series A	Dec. 31, 2013 Preference Shares - Series A	Dec. 31, 2012 Preference Shares - Series A	Jul. 24, 2014 Maximum	Dec. 31, 2013 Maximum Mandatory Convertible Preference Shares - Series B director	Dec. 31, 2014 Maximum Mandatory Convertible Preference Shares - Series B	Dec. 31, 2014 Minimum Mandatory Convertible Preference Shares - Series B
Class of Stock [Line Items]
Number of shares issued (in shares)		184,396								6,000,000
Shares authorized (in shares)		150,000,000
Common shares, shares issued (in shares)		73,900,889	73,595,897
Preference shares issued (in shares)		9,300,000
Shares undesignated (in shares)		66,799,111
Common shares, par value (in dollars per share)		$ 0.01	$ 0.01
Authorized amount of Share Repurchase Program														$ 75,000,000
Preference shares offered (in shares)					3,300,000
Dividend rate of Preference Shares					7.25%					8.25%
Par value of Preference Shares (in dollars per share)					$ 0.01					$ 0.01
Fair value of share (in dollars per share)					$ 50					$ 25
Proceeds from issuance of Preference Shares		0	159,675,000	145,041,000	159,675,000					145,041,000
Expenses and underwriting discounts					5,325,000					4,959,000
Redemption price for Preference Shares (in dollars per share)										$ 25
Shares authorized (in shares)								3,300,000			6,000,000
Sale price of Preference Shares (in dollars per share)								$ 50		$ 25
Liquidation preference per share per annum (in dollars per share)								$ 3.625
Liquidation preference per share per quarter (in dollars per share)								$ 0.90625
Liquidation preference per share in initial quarter (in dollars per share)								$ 0.745139
Convertible Preferred Stock, shares issued upon conversion ratio																4.0322	3.2258
Convertible Preferred Stock, conversion rate measurement period						40 days
Preferred Stock, dividend rate (in dollars per share)							$ 0.09
Preferred Stock, number of electable board members															2
Preferred Stock, number of Directors contingently electable		2
Preferred Stock, dividend default period		six or more dividend periods
Dividends on preference shares								$ 11,962,000	$ 2,459,000		$ 12,375,000	$ 12,375,000	$ 3,644,000
Shares repurchased (in shares)		(5,851)
Shares repurchased, price per share	$ 11.18

Shareholders' Equity - Schedule of Common Shares (Details)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issued and outstanding shares – January 1 (in shares)	72,633,561	72,343,947	72,221,428
Issuance of vested restricted shares and restricted share units (in shares)	184,396
Shares repurchased (in shares)	5,851
Exercise of options (in shares)	120,596	289,614	122,519
Issued and outstanding shares – December 31 (in shares)	72,932,702	72,633,561	72,343,947

- Definition

Number of share options (or share units) exercised during the current period.

+ References+ Details

Shareholders' Equity - Reclassified out of AOCI (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net realized (losses) gains on investment									$ 1,163	$ 3,585	$ 1,907
Net impairment losses recognized in earnings									(2,364)	0	0
Income before income taxes									103,697	104,719	52,474
Income tax expense									(2,164)	(1,863)	(2,213)
Net income	33,631	33,926	31,915	2,061	26,385	25,033	23,331	28,107	101,533	102,856	50,261
Unrealized gains (losses) on available-for-sale securities \| Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net realized (losses) gains on investment									(3,160)	6,955
Net impairment losses recognized in earnings									(102)	0
Income before income taxes									(3,262)	6,955
Income tax expense									(16)	(2)
Net income									$ (3,278)	$ 6,953

- Definition

This item represents the net total realized and unrealized gain (loss) included in earnings for the period as a result of selling or holding marketable securities categorized as trading, available-for-sale, or held-to-maturity, including the unrealized holding gain (loss) of held-to-maturity securities transferred to the trading security category and the cumulative unrealized gain (loss) which was included in other comprehensive income (a separate component of shareholders' equity) for available-for-sale securities transferred to trading securities during the period. Additionally, this item would include any gains (losses) realized during the period from the sale of investments accounted for under the cost method of accounting and losses recognized for other than temporary impairments (OTTI) of the subject investments.

+ References+ Details

Shareholders' Equity - Changes in AOCI (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ 25,801	$ 141,126	$ 64,050	$ 95,244
Other comprehensive income (loss) before reclassifications	66,165	(108,372)	80,063
Amounts reclassified from AOCI to net income, net of tax	3,278	(6,953)	(2,987)
Other comprehensive income (loss)	69,443	(115,325)	77,076
Less: AOCI attributable to noncontrolling interest	(49)	17	(4)
Ending balance, Maiden shareholders	95,293	25,784	141,130
Change in net unrealized gains on investment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	34,728	143,665	63,737	78,579
Other comprehensive income (loss) before reclassifications	40,573	(101,984)	82,915
Amounts reclassified from AOCI to net income, net of tax	3,278	(6,953)	(2,987)
Other comprehensive income (loss)	43,851	(108,937)	79,928
Less: AOCI attributable to noncontrolling interest	0	0	0
Ending balance, Maiden shareholders	78,579	34,728	143,665
Foreign currency translation adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(8,927)	(2,539)	313	16,665
Other comprehensive income (loss) before reclassifications	25,592	(6,388)	(2,852)
Amounts reclassified from AOCI to net income, net of tax	0	0	0
Other comprehensive income (loss)	25,592	(6,388)	(2,852)
Less: AOCI attributable to noncontrolling interest	(49)	17	(4)
Ending balance, Maiden shareholders	$ 16,714	$ (8,944)	$ (2,535)

- Definition

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

+ References+ Details

Share Compensation and Pension Plans (Details) (USD $)	12 Months Ended															12 Months Ended				12 Months Ended				12 Months Ended									0 Months Ended
Share Compensation and Pension Plans (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2014 Minimum	Dec. 31, 2013 Minimum	Dec. 31, 2012 Minimum	Dec. 31, 2014 Maximum	Dec. 31, 2013 Maximum	Dec. 31, 2012 Maximum	Dec. 31, 2014 Share options	Dec. 31, 2014 Performance-Based Restricted Shares	Dec. 31, 2013 Performance-Based Restricted Shares	Dec. 31, 2012 Performance-Based Restricted Shares	Dec. 31, 2011 Performance-Based Restricted Shares	Dec. 31, 2014 CEO Non-Performance-Based Restricted Share Units	Dec. 31, 2013 CEO Non-Performance-Based Restricted Share Units	Dec. 31, 2012 CEO Non-Performance-Based Restricted Share Units	Dec. 31, 2011 CEO Non-Performance-Based Restricted Share Units	Dec. 31, 2014 Non-CEO Non-Performance-Based Restricted Share Units	Dec. 31, 2013 Non-CEO Non-Performance-Based Restricted Share Units	Dec. 31, 2012 Non-CEO Non-Performance-Based Restricted Share Units	Dec. 31, 2011 Non-CEO Non-Performance-Based Restricted Share Units	Dec. 31, 2014 RSUs	Dec. 31, 2014 Restricted Shares	Dec. 31, 2014 Vesting period 1 Share options	Dec. 31, 2014 Vesting period 2 Share options	Dec. 31, 2014 Performance Cycle Performance-Based Restricted Shares	Dec. 31, 2014 CEO Non-Performance-Based Restricted Share Units February 2013 CEO Non-Performance-Based Restricted Share Units	Dec. 31, 2013 CEO Non-Performance-Based Restricted Share Units February 2013 CEO Non-Performance-Based Restricted Share Units	Dec. 31, 2014 CEO Non-Performance-Based Restricted Share Units February 2014 CEO Non-Performance-Based Restricted Share Units	Dec. 31, 2014 Non-CEO Discretionary Non-Performance-Based Restricted Shares February 2013 Non-CEO Non-Performance-Based Restricted Share Units	Feb. 19, 2013 Non-CEO Discretionary Non-Performance-Based Restricted Shares February 2013 Vesting period 1 Non-CEO Non-Performance-Based Restricted Share Units	Feb. 19, 2013 Non-CEO Discretionary Non-Performance-Based Restricted Shares February 2013 Vesting period 2 Non-CEO Non-Performance-Based Restricted Share Units	Feb. 18, 2014 Non-CEO Discretionary Non-Performance-Based Restricted Shares February 2014 Vesting period 1 Non-CEO Non-Performance-Based Restricted Share Units	Feb. 18, 2014 Non-CEO Discretionary Non-Performance-Based Restricted Shares February 2014 Vesting period 2 Non-CEO Non-Performance-Based Restricted Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares reserved for issuance under the Plan (in shares)	10,000,000
Share-based compensation expense from adoption of ASC Topic 718	$ 3,334,000	$ 2,205,000	$ 1,347,000
Assumptions:
Volatility, minimum		45.30%	45.30%
Volatility, maximum	51.40%	51.40%	47.60%
Risk-free interest rate, minimum		0.85%	0.85%
Risk-free interest rate, maximum	1.77%	1.77%	1.29%
Weighted average expected lives	6 years 1 month 6 days	6 years 1 month 6 days	6 years 1 month 6 days
Forfeiture rate, minimum		1.60%	1.60%					3.45%	3.45%
Dividend yield rate						3.46%	3.04%	3.46%	3.55%	3.27%
Volatility, maximum term	6 years 7 months 6 days
Number of Share Options, Outstanding [Roll Forward]
Outstanding, start of period (in shares)	2,439,413	2,795,437	2,916,143
Granted (in shares)	45,000	49,000	117,000
Exercised (in shares)	(120,596)	(289,614)	(122,519)
Expired (in shares)	0	(691)	(103,847)
Forfeited (in shares)	(842)	(114,719)	(11,340)
Outstanding, end of period (in shares)	2,362,975	2,439,413	2,795,437	2,916,143
Total options exercisable outstanding, Number of Share Options (in shares)	2,276,100
Weighted Average Exercise Price [Roll Forward]
Outstanding, beginning of period (in dollars per share)	$ 6.76	$ 6.70	$ 6.61		$ 3.28	$ 3.28	$ 3.28	$ 11.22	$ 10.00	$ 10.00
Granted (in dollars per share)	$ 12.01	$ 10.61	$ 8.89		$ 11.38	$ 9.99	$ 8.14	$ 12.42	$ 11.22	$ 9.42
Exercised (in dollars per share)	$ 4.91	$ 6.13	$ 3.90
Expired (in dollars per share)	$ 0.00	$ 7.67	$ 9.87
Forfeited (in dollars per share)	$ 7.74	$ 8.51	$ 7.54
Outstanding, end of period (in dollars per share)	$ 6.95	$ 6.76	$ 6.70	$ 6.61	$ 3.28	$ 3.28	$ 3.28	$ 12.42	$ 11.22	$ 10.00
Total options exercisable outstanding, Weighted Average Exercise Price (in dollars per share)	$ 6.81				$ 3.28			$ 11.22
Weighted Average Grant-Date Fair Value (in dollars per share)	$ 4.28	$ 2.80	$ 2.65
Outstanding, Weighted Average Remaining Contractual Term	4 years 10 months 10 days	5 years 9 months	6 years 9 months	7 years 6 months 18 days
Total options exercisable outstanding, Weighted Average Remaining Contractual Term	4 years 8 months 19 days
Options Outstanding, Aggregate Intrinsic Value	13,791,000	10,174,000	7,271,000	6,866,000
Options Exercised, Aggregate Intrinsic Value	930,000	1,397,000	616,000
Total options exercisable outstanding, Aggregate Intrinsic Value	13,616,000
Vesting percentage																										25.00%	6.25%						50.00%	50.00%	50.00%	50.00%
Employee service period											4 years
Expiration period											10 years
Weighted average grant date fair value (in dollars per share)	$ 2.11	$ 2.03	$ 2.05
Unrecognized compensation cost related to non-vested share-based compensation arrangements	235,000		513,000																					1,102,000	285,000
Period of recognition	4 years																							1 year 7 months 6 days	9 months 18 days
Proceeds from stock options exercised	592,000	1,776,000	478,000
Vesting period																												3 years
Vested in period (in shares)												100,308	0	0		73,333	86,705	0		47,795	0	0
Units awarded												396,672	359,652	538,906		70,298	149,701	86,705		38,522	95,590	0
Fair value of awards												$ 10.51	$ 9.21	$ 8.34	$ 7.97	$ 10.45	$ 10.02	$ 8.56	$ 0.00	$ 10.63	$ 10.02	$ 0.00	$ 0.00
Fair value of units vested																													500,000	0	266,000	479,000
Defined contribution plans expense	$ 2,809,000	$ 2,892,000	$ 2,529,000

Share Compensation and Pension Plans - Restricted Stock Activity (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Non-CEO Non-Performance-Based Restricted Share Units
Number of Restricted Units
Beginning Balance, Nonvested, in shares	95,590.00	0	0
Awards granted	38,522	95,590	0
Awards vested	(47,795)	0	0
Awards forfeited	0	0	0
Ending Balance, Nonvested, in shares	86,317.000	95,590.00	0
Weighted Average Grant-Date Fair Value
Weighted average grant date fair value, beginning balance	$ 10.02	$ 0.00	$ 0.00
Awards granted	$ 11.38	$ 10.02	$ 0.00
Awards vested	$ 10.02	$ 0.00	$ 0.00
Awards forfeited	$ 0.00	$ 0.00	$ 0.00
Weighted average grant date fair value, ending balance	$ 10.63	$ 10.02	$ 0.00
CEO Non-Performance-Based Restricted Share Units
Number of Restricted Units
Beginning Balance, Nonvested, in shares	149,701.000	86,705.000	0
Awards granted	70,298	149,701	86,705
Awards vested	(73,333)	(86,705)	0
Awards forfeited	0	0	0
Ending Balance, Nonvested, in shares	146,666.000	149,701.000	86,705.000
Weighted Average Grant-Date Fair Value
Weighted average grant date fair value, beginning balance	$ 10.02	$ 8.56	$ 0.00
Awards granted	$ 11.38	$ 10.02	$ 8.56
Awards vested	$ 10.45	$ 8.56	$ 0.00
Awards forfeited	$ 0.00	$ 0.00	$ 0.00
Weighted average grant date fair value, ending balance	$ 10.45	$ 10.02	$ 8.56
Performance-Based Restricted Shares
Number of Restricted Units
Beginning Balance, Nonvested, in shares	753,862.000	860,506.000	321,600
Awards granted	396,672	359,652	538,906
Awards vested	(100,308)	0	0
Awards forfeited	(242,456)	(466,296)	0
Ending Balance, Nonvested, in shares	807,770.00	753,862.000	860,506.000
Weighted Average Grant-Date Fair Value
Weighted average grant date fair value, beginning balance	$ 9.21	$ 8.34	$ 7.97
Awards granted	$ 11.38	$ 10.02	$ 8.56
Awards vested	$ 8.56	$ 0.00	$ 0.00
Awards forfeited	$ 8.56	$ 8.31	$ 0.00
Weighted average grant date fair value, ending balance	$ 10.51	$ 9.21	$ 8.34

Taxation (Details) (USD $)	12 Months Ended
Taxation (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Operating Loss Carryforwards [Line Items]
Unrecognized Tax Benefits	$ 0	$ 0	$ 0
Income before income taxes – Domestic (Bermuda)	117,780,000	125,926,000	72,286,000
Income before income taxes – Foreign (U.S. and others)	(14,083,000)	(21,207,000)	(19,812,000)
Income before income taxes	103,697,000	104,719,000	52,474,000
Current tax expense – Domestic (Bermuda)	0	0	0
Current tax expense – Foreign (U.S. and others)	945,000	873,000	1,020,000
Current tax (benefit) expense	945,000	873,000	1,020,000
Deferred tax expense – Domestic (Bermuda)	0	0	0
Deferred tax expense – Foreign (U.S. and others)	1,219,000	990,000	1,193,000
Total deferred tax expense	1,219,000	990,000	1,193,000
Total income tax expense	2,164,000	1,863,000	2,213,000
Deferred tax assets:
Net operating losses	54,524,000	51,569,000
Unearned premiums	8,860,000	9,364,000
Discounting of net loss and loss adjustment expense reserves	12,250,000	11,678,000
Net unrealized losses on investments	0	5,236,000
Accruals not currently deductible	1,994,000	1,879,000
Amortization of intangibles	3,021,000	3,093,000
Others	1,870,000	1,065,000
Deferred tax assets before valuation allowance	82,519,000	83,884,000
Valuation allowance	65,743,000	67,013,000
Deferred tax assets, net	16,776,000	16,871,000
Deferred tax liabilities:
Deferred commission and other acquisition expenses	10,119,000	15,587,000
Indefinite lived intangible	2,870,000	2,870,000
Amortization of goodwill	7,158,000	5,997,000
Net unrealized gains on investments	4,831,000	0
Others	1,789,000	1,105,000
Deferred tax liabilities	26,767,000	25,559,000
Net deferred tax liability	9,991,000	8,688,000
Increase/(decrease) in valuation allowance	(1,270,000)	25,782,000
U.S.
Deferred tax liabilities:
Net operating loss carry-forward	$ 155,782,000	$ 147,339,000

Taxation - Tax Rate Reconciliation (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Tax Disclosure [Abstract]
Income before income taxes									$ 103,697	$ 104,719	$ 52,474
Income tax expense									2,164	1,863	2,213
Net income	$ 33,631	$ 33,926	$ 31,915	$ 2,061	$ 26,385	$ 25,033	$ 23,331	$ 28,107	$ 101,533	$ 102,856	$ 50,261
Reconciliation of effective tax rate (% of income before income taxes)
Bermuda tax rate									0.00%	0.00%	0.00%
U.S. taxes at statutory rates									(7.30%)	(8.70%)	(9.40%)
Valuation allowance in respect of U.S. taxes									8.50%	9.80%	11.70%
Other jurisdictions									0.90%	0.70%	1.90%
Actual tax rate									2.10%	1.80%	4.20%

Statutory Requirements and Dividend Restrictions (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Statutory Accounting Practices [Line Items]
Net assets	$ 1,241,166	$ 1,124,295	$ 1,015,611
Assets restricted due to statutory and collateral requirements	718,050	264,629
Maximum dividend rate, percent of statutory capital and surplus	25.00%
Reduction to total statutory capital, percent threshold requiring approval	15.00%
UNITED STATES
Statutory Accounting Practices [Line Items]
Dividends permitted as a percentage of surplus	10.00%
MISSOURI
Statutory Accounting Practices [Line Items]
Statutory amount available for dividend payments without regulatory approval	0
NORTH CAROLINA
Statutory Accounting Practices [Line Items]
Statutory amount available for dividend payments without regulatory approval	5,174
Maiden Bermuda
Statutory Accounting Practices [Line Items]
Statutory Capital and Surplus	1,289,155	1,106,096
Statutory Net Income (Loss)	60,016	109,326	79,714
Maiden Bermuda \| BERMUDA
Statutory Accounting Practices [Line Items]
Statutory Capital and Surplus	1,289,155	1,106,096
Minimum solvency margin	302,341	255,327
Dividends or distributions limit	222,489
Maiden US
Statutory Accounting Practices [Line Items]
Statutory Capital and Surplus	288,065	269,598
Statutory Net Income (Loss)	16,614	(1,305)	(19,156)
Maiden US \| UNITED STATES
Statutory Accounting Practices [Line Items]
Minimum solvency margin	82,267	80,987
Maiden Specialty
Statutory Accounting Practices [Line Items]
Statutory Capital and Surplus	51,883	48,940
Statutory Net Income (Loss)	3,006	2,899	1,227
Maiden Specialty \| UNITED STATES
Statutory Accounting Practices [Line Items]
Minimum solvency margin	45,000	45,000
Maiden LF
Statutory Accounting Practices [Line Items]
Statutory Capital and Surplus	8,530	9,235
Statutory Net Income (Loss)	1,436	340	464
Maiden LF \| SWEDEN
Statutory Accounting Practices [Line Items]
Minimum solvency margin	4,477	5,096
Dividends or distributions limit	$ 2,508

Subsequent Events (Details) (USD $)	12 Months Ended			0 Months Ended
Subsequent Events (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Oct. 24, 2014 Dividend declared	Feb. 16, 2015 Subsequent event Dividend declared	Feb. 16, 2015 Subsequent event Dividend declared Preference Shares - Series A	Feb. 16, 2015 Subsequent event Dividend declared Preference shares - Series B
Subsequent Event [Line Items]
Dividends declared per common share (in dollars per share)	$ 0.46	$ 0.38	$ 0.33	$ 0.13	$ 0.13
Dividends declared per Preference share (in dollars per share)						$ 0.515625	$ 0.90625

Condensed Quarterly Financial Data - Unaudited (Details) (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Quarterly Financial Information Disclosure [Abstract]
Revenues	$ 641,917	$ 623,506	$ 563,422	$ 552,322	$ 519,265	$ 535,127	$ 536,745	$ 518,919	$ 2,381,167	$ 2,110,056	$ 1,899,765
Net income	33,631	33,926	31,915	2,061	26,385	25,033	23,331	28,107	101,533	102,856	50,261
Net income (loss) attributable to Maiden common shareholders	27,514	27,798	25,804	(4,062)	20,806	21,904	20,205	24,986	101,391	102,735	50,154
Comprehensive income (loss) - attributable to Maiden shareholders	$ 41,648	$ 3,176	$ 86,260	$ 39,816	$ 3,524	$ 25,581	$ (61,764)	$ 20,048	$ 170,900	$ (12,611)	$ 127,225
Basic earnings (loss) per share attributable to Maiden common shareholders (in dollars per share)	$ 0.38	$ 0.38	$ 0.35	$ (0.06)	$ 0.29	$ 0.30	$ 0.28	$ 0.35	$ 1.06	$ 1.21	$ 0.64
Diluted earnings (loss) per share attributable to Maiden common shareholders (in dollars per share)	$ 0.36	$ 0.36	$ 0.34	$ (0.06)	$ 0.27	$ 0.30	$ 0.27	$ 0.34	$ 1.04	$ 1.18	$ 0.64

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References+ Details

Schedule I Summary of Investments, Other than Investments in Related Parties (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized cost	$ 3,379,864,000	$ 3,127,792,000
Other Investments, Amortized cost	10,862,000	4,522,000
Total investments, Original or amortized cost	3,390,726,000	3,132,314,000
Fair value	3,456,904,000	3,162,067,000
Other investments	12,571,000	5,092,000
Total investments	3,469,475,000	3,167,159,000
Amount at Which Shown in the Balance Sheet	3,469,475,000
U.S. treasury bonds
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized cost	8,937,000	16,622,000
Fair value	9,360,000	17,209,000
Amount at Which Shown in the Balance Sheet	9,360,000
U.S. agency bonds – mortgage-backed
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized cost	1,313,834,000	1,292,032,000
Fair value	1,322,443,000	1,262,655,000
Amount at Which Shown in the Balance Sheet	1,322,443,000
U.S. agency bonds – other
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized cost	7,213,000	7,207,000
Fair value	7,988,000	8,108,000
Amount at Which Shown in the Balance Sheet	7,988,000
Non-U.S. government bonds
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized cost	54,467,000	70,377,000
Fair value	51,643,000	73,212,000
Amount at Which Shown in the Balance Sheet	51,643,000
Other mortgage-backed securities
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized cost	52,337,000	33,676,000
Fair value	54,780,000	33,444,000
Amount at Which Shown in the Balance Sheet	54,780,000
Corporate bonds
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized cost	1,831,431,000	1,546,578,000
Fair value	1,895,379,000	1,606,700,000
Amount at Which Shown in the Balance Sheet	1,895,379,000
Municipal bonds - other
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized cost	62,153,000	62,130,000
Fair value	65,819,000	61,569,000
Amount at Which Shown in the Balance Sheet	65,819,000
Short-term investments
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized cost	49,492,000
Fair value	49,492,000
Amount at Which Shown in the Balance Sheet	49,492,000
Available-for-sale securities
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized cost	3,379,864,000
Fair value	3,456,904,000
Amount at Which Shown in the Balance Sheet	3,456,904,000
Other investments
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Other Investments, Amortized cost	10,862,000
Other investments	12,571,000
Amount at Which Shown in the Balance Sheet	$ 12,571,000

Schedule II Condensed Financial Information of Parent Company - Balance Sheet (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Condensed Financial Statements, Captions [Line Items]
Fixed maturities, available-for-sale, at fair value (Amortized cost 2014: $43,995; 2013: $135,999)	$ 3,456,904,000	$ 3,162,067,000
Other investments, at fair value (Cost 2014: $5,000)	12,571,000	5,092,000
Cash and cash equivalents	108,119,000	139,833,000	81,543,000	188,082,000
Other assets	57,926,000	96,112,000
Total assets	5,164,092,000	4,713,379,000
Accrued expenses and other liabilities	83,877,000	110,114,000
Total liabilities	3,922,926,000	3,589,084,000
Preference shares	315,000,000	315,000,000
Common shares ($0.01 par value; 73,900,889 and 73,595,897 shares issued in 2014 and 2013, respectively; 72,932,702 and 72,633,561 shares outstanding in 2014 and 2013, respectively)	739,000	736,000
Additional paid-in capital	578,445,000	574,522,000
Accumulated other comprehensive income	95,293,000	25,784,000	141,130,000
Retained earnings	255,084,000	211,602,000
Treasury shares, at cost (968,187 and 962,336 shares in 2014 and 2013, respectively)	(3,867,000)	(3,801,000)
Total Maiden shareholders’ equity	1,240,694,000	1,123,843,000
Total liabilities and equity	5,164,092,000	4,713,379,000
Balance Sheet Related Disclosures [Abstract]
Amortized cost	3,379,864,000	3,127,792,000
Other investments, Cost	10,862,000	4,522,000
Common shares, par value (in dollars per share)	$ 0.01	$ 0.01
Common shares, shares issued (in shares)	73,900,889	73,595,897
Common shares, shares outstanding (in shares)	72,932,702	72,633,561	72,343,947	72,221,428
Treasury shares, shares (in shares)	968,187	962,336
Parent Company
Condensed Financial Statements, Captions [Line Items]
Fixed maturities, available-for-sale, at fair value (Amortized cost 2014: $43,995; 2013: $135,999)	44,270,000	131,798,000
Other investments, at fair value (Cost 2014: $5,000)	5,990,000	0
Cash and cash equivalents	6,894,000	33,061,000	3,147,000	550,000
Investment in subsidiaries	1,591,000,000	1,331,195,000
Balances due from subsidiaries	99,809,000	13,097,000
Other assets	1,387,000	1,925,000
Total assets	1,749,350,000	1,511,076,000
Accrued expenses and other liabilities	11,226,000	9,872,000
Balances due to subsidiaries	497,430,000	377,361,000
Total liabilities	508,656,000	387,233,000
Preference shares	315,000,000	315,000,000
Common shares ($0.01 par value; 73,900,889 and 73,595,897 shares issued in 2014 and 2013, respectively; 72,932,702 and 72,633,561 shares outstanding in 2014 and 2013, respectively)	739,000	736,000
Additional paid-in capital	578,445,000	574,522,000
Accumulated other comprehensive income	95,293,000	25,784,000
Retained earnings	255,084,000	211,602,000
Treasury shares, at cost (968,187 and 962,336 shares in 2014 and 2013, respectively)	(3,867,000)	(3,801,000)
Total Maiden shareholders’ equity	1,240,694,000	1,123,843,000
Total liabilities and equity	1,749,350,000	1,511,076,000
Balance Sheet Related Disclosures [Abstract]
Amortized cost	43,995,000	135,999,000
Other investments, Cost	$ 5,000,000
Common shares, par value (in dollars per share)	$ 0.01	$ 0.01
Common shares, shares issued (in shares)	73,900,889	73,595,897
Common shares, shares outstanding (in shares)	72,932,702	72,633,561
Treasury shares, shares (in shares)	968,187	962,336

Schedule II Condensed Financial Information of Parent Company - Statements of Income (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Revenues
Net investment income									$ 117,215	$ 91,352	$ 81,188
Net realized gains on investment									1,163	3,585	1,907
Total revenues	641,917	623,506	563,422	552,322	519,265	535,127	536,745	518,919	2,381,167	2,110,056	1,899,765
Expenses
General and administrative expenses									62,937	58,661	53,804
Foreign exchange and other gains									(4,150)	(2,809)	(1,638)
Total expenses									2,277,470	2,005,337	1,847,291
Net income attributable to Maiden	27,514	27,798	25,804	(4,062)	20,806	21,904	20,205	24,986	101,391	102,735	50,154
Dividends on preference shares									(24,337)	(14,834)	(3,644)
Net income attributable to Maiden common shareholders									77,054	87,901	46,510
Parent Company
Revenues
Net investment income									4,892	2,773	795
Net realized gains on investment									981	0	229
Total revenues									5,873	2,773	1,024
Expenses
General and administrative expenses									14,588	11,732	8,030
Foreign exchange and other gains									893	(626)	(225)
Total expenses									15,481	11,106	7,805
Loss before equity in earnings of consolidated subsidiaries									(9,608)	(8,333)	(6,781)
Equity in earnings of consolidated subsidiaries									110,999	111,068	56,935
Net income attributable to Maiden									101,391	102,735	50,154
Dividends on preference shares									(24,337)	(14,834)	(3,644)
Net income attributable to Maiden common shareholders									$ 77,054	$ 87,901	$ 46,510

Schedule II Condensed Financial Information of Parent Company - Statements of Cash Flows (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Cash flows provided by operating activities
Net income attributable to Maiden	$ 101,391	$ 102,735	$ 50,154
Adjustments to reconcile net income to net cash provided by operating activities
Net realized gains on investment	(1,163)	(3,585)	(1,907)
Changes in assets - (increase) decrease:
Other assets	32,060	(131)	(15,704)
Changes in liabilities - increase (decrease):
Net cash provided by operating activities	651,579	366,247	319,089
Cash flows used in investing activities
Purchases of fixed-maturities – available-for-sale	(778,702)	(1,442,116)	(1,193,768)
Purchases of other investments	(6,698)	(2,135)	(940)
Proceeds from sales of fixed-maturities – available-for-sale	171,216	355,863	142,694
Proceeds from maturities and calls of fixed maturities - available-for-sale	349,852	448,881	484,091
Net cash used in investing activities	(471,884)	(583,994)	(637,546)
Cash flows used in financing activities
Preference shares issuance, net of issuance costs	0	159,675	145,041
Dividends paid - preference shares	(24,337)	(14,834)	(3,644)
Dividends paid - Maiden common shareholders	(32,079)	(19,607)	(29,630)
Issuance of common shares	592	1,776	478
Net cash (used in) provided by financing activities	(208,324)	274,456	208,839
Net (decrease) increase in cash and cash equivalents	(31,714)	58,290	(106,539)
Cash and cash equivalents, beginning of period	139,833	81,543	188,082
Cash and cash equivalents, end of period	108,119	139,833	81,543
Parent Company
Cash flows provided by operating activities
Net income attributable to Maiden	101,391	102,735	50,154
Adjustments to reconcile net income to net cash provided by operating activities
Equity in earnings of consolidated subsidiaries	(110,999)	(111,068)	(56,935)
Amortization of bond premium and discount	414	1,209	786
Net realized gains on investment	(981)	0	(229)
Foreign exchange losses (gains)	893	(626)	(225)
Non-cash share compensation expense	3,334	2,205	1,347
Changes in assets - (increase) decrease:
Balance due from subsidiaries	(87,605)	42,899	82,588
Other assets	536	(862)	(829)
Changes in liabilities - increase (decrease):
Accounts payable and accrued liabilities	(204)	736	(1,579)
Balances due to subsidiaries	120,069	16,642	15,524
Net cash provided by operating activities	26,848	53,870	90,602
Cash flows used in investing activities
Purchases of fixed-maturities – available-for-sale	(1,340)	(170,882)	(137,486)
Purchases of other investments	(5,000)	0	0
Proceeds from sales of fixed-maturities – available-for-sale	87,032	90,515	9,452
Proceeds from maturities and calls of fixed maturities - available-for-sale	6,857	46,208	24,427
Investment in subsidiaries	(84,740)	(116,807)	(96,643)
Net cash used in investing activities	2,809	(150,966)	(200,250)
Cash flows used in financing activities
Preference shares issuance, net of issuance costs	0	159,675	145,041
Dividends paid - preference shares	(24,337)	(14,834)	(3,644)
Dividends paid - Maiden common shareholders	(32,079)	(19,607)	(29,630)
Issuance of common shares	592	1,776	478
Net cash (used in) provided by financing activities	(55,824)	127,010	112,245
Net (decrease) increase in cash and cash equivalents	(26,167)	29,914	2,597
Cash and cash equivalents, beginning of period	33,061	3,147	550
Cash and cash equivalents, end of period	$ 6,894	$ 33,061	$ 3,147

Schedule III Supplementary Insurance Information (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Supplementary Insurance Information, by Segment [Line Items]
Deferred commission and other acquisition expenses	$ 372,487	$ 304,908	$ 270,669
Reserve for loss and loss adjustment expenses	2,271,292	1,957,835	1,740,281
Unearned premiums	1,207,757	1,034,754	936,497
Net premiums earned	2,251,743	2,000,887	1,803,780
Net investment income	117,215	91,352	81,188
Net loss and loss adjustment expenses	1,498,271	1,349,630	1,262,348
Amortization of deferred commission and other acquisition expenses	659,315	556,578	492,031
General and admin. expenses	62,937	58,661	53,804
Net premiums written	2,458,136	2,096,301	1,901,285
Diversified Reinsurance
Supplementary Insurance Information, by Segment [Line Items]
Deferred commission and other acquisition expenses	87,289	88,721	84,130
Reserve for loss and loss adjustment expenses	1,058,924	1,010,195	1,003,349
Unearned premiums	293,893	321,659	296,581
Net premiums earned	854,026	753,157	775,177
Net investment income	0	0	0
Net loss and loss adjustment expenses	579,771	519,962	549,405
Amortization of deferred commission and other acquisition expenses	233,711	190,604	205,307
General and admin. expenses	42,914	42,331	40,951
Net premiums written	850,049	763,374	745,679
AmTrust Reinsurance
Supplementary Insurance Information, by Segment [Line Items]
Deferred commission and other acquisition expenses	285,232	209,439	153,530
Reserve for loss and loss adjustment expenses	1,122,479	803,597	530,270
Unearned premiums	913,861	687,357	503,915
Net premiums earned	1,378,327	988,900	727,783
Net investment income	0	0	0
Net loss and loss adjustment expenses	893,502	653,528	496,370
Amortization of deferred commission and other acquisition expenses	418,908	291,559	200,547
General and admin. expenses	2,098	1,992	1,949
Net premiums written	1,610,485	1,169,961	840,348
Total Reportable Segments, Excluding Other
Supplementary Insurance Information, by Segment [Line Items]
Deferred commission and other acquisition expenses	372,521	298,160	237,660
Reserve for loss and loss adjustment expenses	2,181,403	1,813,792	1,533,619
Unearned premiums	1,207,754	1,009,016	800,496
Net premiums earned	2,232,353	1,742,057	1,502,960
Net investment income	0	0	0
Net loss and loss adjustment expenses	1,473,273	1,173,490	1,045,775
Amortization of deferred commission and other acquisition expenses	652,619	482,163	405,854
General and admin. expenses	45,012	44,323	42,900
Net premiums written	2,460,534	1,933,335	1,586,027
Other
Supplementary Insurance Information, by Segment [Line Items]
Deferred commission and other acquisition expenses	(34)	6,748	33,009
Reserve for loss and loss adjustment expenses	89,889	144,043	206,662
Unearned premiums	3	25,738	136,001
Net premiums earned	19,390	258,830	300,820
Net investment income	117,215	91,352	81,188
Net loss and loss adjustment expenses	24,998	176,140	216,573
Amortization of deferred commission and other acquisition expenses	6,696	74,415	86,177
General and admin. expenses	17,925	14,338	10,904
Net premiums written	$ (2,398)	$ 162,966	$ 315,258

Schedule IV Supplementary Reinsurance Information (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Supplemental Schedule of Reinsurance Premiums for Insurance Companies [Abstract]
Gross	$ 48,565	$ 104,976	$ 122,412
Ceded to other companies	49,216	107,858	99,707
Premiums written, assumed	2,458,787	2,099,183	1,878,580
Premiums written, Net	$ 2,458,136	$ 2,096,301	$ 1,901,285
Percentage of amount to net	100.00%	100.10%	98.80%

Schedule VI Supplementary Reinsurance Information (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Supplemental Schedule of Reinsurance Premiums for Insurance Companies [Abstract]
Net loss and loss adjustment expenses, Current Year	$ 1,479,425	$ 1,351,043	$ 1,239,016
Net loss and loss adjustment expenses, Prior Year	18,846	(1,413)	23,332
Paid loss and loss adjustment expenses	$ 1,135,791	$ 1,116,096	$ 1,015,309