Document and Entity Information - USD ($) $ in Millions	12 Months Ended
Document and Entity Information - USD ($) $ in Millions	Dec. 31, 2018	Mar. 08, 2019	Jun. 30, 2018
Document and Entity [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2018
Document Fiscal Year Focus	2018
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	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		82,957,895
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 532.9

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
ASSETS
Fixed maturities, available-for-sale, at fair value (amortized cost 2018 - $3,109,980; 2017 - $2,699,297)	$ 3,051,568	$ 2,707,516
Fixed maturities, held-to-maturity, at amortized cost (fair value 2018 - $998,012; 2017 - $1,125,626)	1,015,681	1,097,801
Other investments, at fair value	23,716	6,600
Total investments	4,090,965	3,811,917
Cash and cash equivalents	200,841	54,470
Restricted cash and cash equivalents	130,148	94,905
Accrued investment income	27,824	28,798
Reinsurance balances receivable, net (includes $38,278 and $50,269 from related parties in 2018 and 2017, respectively)	67,308	72,494
Loan to related party	167,975	167,975
Deferred commission and other acquisition expenses (includes $370,037 and $359,964 from related parties in 2018 and 2017, respectively)	388,442	380,204
Other assets	39,482	131,608
Assets held for sale	174,475	1,901,818
Total assets	5,287,460	6,644,189
LIABILITIES
Reserve for loss and loss adjustment expenses (includes $2,950,388 and $2,296,025 from related parties in 2018 and 2017, respectively)	3,055,976	2,386,722
Unearned premiums (includes $1,135,913 and $1,179,285 from related parties in 2018 and 2017, respectively)	1,200,419	1,230,882
Accrued expenses and other liabilities (includes $50,975 and $2,193 from related parties in 2018 and 2017, respectively)	65,494	90,069
Senior notes - principal amount	262,500	262,500
Less unamortized issuance costs	7,806	8,018
Senior notes, net	254,694	254,482
Liabilities held for sale	155,961	1,449,408
Total liabilities	4,732,544	5,411,563
Commitments and Contingencies
EQUITY
Preference shares	465,000	465,000
Common shares ($0.01 par value; 87,938,537 and 87,730,054 shares issued in 2018 and 2017, respectively; 82,948,577 and 82,974,895 shares outstanding in 2018 and 2017, respectively)	879	877
Additional paid-in capital	749,418	748,113
Accumulated other comprehensive (loss) income	(65,616)	13,354
(Accumulated deficit) retained earnings	(563,891)	35,472
Treasury shares, at cost (4,989,960 and 4,755,159 shares in 2018 and 2017, respectively)	(31,515)	(30,642)
Total Maiden shareholders’ equity	554,275	1,232,174
Noncontrolling interests in subsidiaries	641	452
Total equity	554,916	1,232,626
Total liabilities and equity	$ 5,287,460	$ 6,644,189

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Fixed Maturities, available-for-sale, Amortized cost	$ 3,109,980	$ 2,699,297
Fixed Maturities, held-to-maturity, Fair value	998,012	1,125,626
Other Investments, Cost
Reinsurance balances receivable, net	67,308	72,494
Reinsurance recoverable on unpaid losses	1,743	24,883
Deferred commission and other acquisition expenses	388,442	380,204
Reserve for loss and loss adjustment expenses	3,055,976	2,386,722
Unearned premiums	1,200,419	1,230,882
Accrued expenses and other liabilities, related parties	$ 50,975	$ 2,193
Common shares, par value (in dollars per share)	$ 0.01	$ 0.01
Common shares, shares issued (in shares)	87,938,537	87,730,054
Common shares, shares outstanding (in shares)	82,948,577	82,974,895
Treasury shares, shares (in shares)	4,989,960	4,755,159
Related Party Transactions
Reinsurance balances receivable, net	$ 38,278	$ 50,269
Deferred commission and other acquisition expenses	370,037	359,964
Reserve for loss and loss adjustment expenses	2,950,388	2,296,025
Unearned premiums	$ 1,135,913	$ 1,179,285

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	12 Months Ended
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenues
Gross premiums written	$ 2,017,798	$ 2,078,091	$ 2,089,029
Net premiums written	2,014,597	2,037,377	1,967,671
Change in unearned premiums	11,605	(44,718)	(42,083)
Net premiums earned	2,026,202	1,992,659	1,925,588
Other insurance revenue	9,681	9,802	10,817
Net investment income	136,285	124,135	108,689
Net realized (losses) gains on investment	(1,529)	12,222	6,774
Total other-than-temporary impairment losses	(5,832)	0	0
Total revenues	2,164,807	2,138,818	2,051,868
Expenses
Net loss and loss adjustment expenses	1,880,121	1,555,433	1,289,512
Commission and other acquisition expenses	654,740	643,797	615,523
General and administrative expenses	64,940	53,004	50,254
Interest and amortization expenses	19,318	23,260	28,173
Accelerated amortization of senior note issuance cost	0	2,809	2,345
Foreign exchange and other (gains) losses	(4,461)	14,921	(13,412)
Total expenses	2,614,658	2,293,224	1,972,395
(Loss) income from continuing operations before income taxes	(449,851)	(154,406)	79,473
Less: income tax expense (benefit)	441	(6,757)	413
Net (loss) income from continuing operations	(450,292)	(147,649)	79,060
Loss from discontinued operations, net of income tax	(94,113)	(22,096)	(30,922)
Net (loss) income	(544,405)	(169,745)	48,138
Add: net (income) loss attributable to noncontrolling interests	(219)	(151)	842
Net (loss) income attributable to Maiden	(544,624)	(169,896)	48,980
Dividends on preference shares	(25,636)	(29,156)	(33,756)
Net (loss) income attributable to Maiden common shareholders	$ (570,260)	$ (199,052)	$ 15,224
Basic (loss) earnings from continuing operations per share attributable to Maiden common shareholders (in dollars per share)	$ (5.74)	$ (2.06)	$ 0.60
Basic loss from discontinued operations per share attributable to Maiden common shareholders (in dollars per share)	(1.13)	(0.26)	(0.40)
Basic (loss) earnings per share attributable to Maiden common shareholders (in dollars per share)	(6.87)	(2.32)	0.20
Diluted (loss) earnings per share attributable to Maiden common shareholders (in dollars per share)	(5.74)	(2.06)	0.58
Diluted loss from discontinued operations per share attributable to Maiden common shareholders (in dollars per share)	(1.13)	(0.26)	(0.39)
Diluted (loss) earnings per share attributable to Maiden common shareholders (in dollars per share)	$ (6.87)	$ (2.32)	$ 0.19
Weighted average number of common shares - basic (in shares)	83,050,362	85,678,232	77,534,860
Adjusted weighted average number of common shares and assumed conversions - diluted (in shares)	83,050,362	85,678,232	78,686,943

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (544,405)	$ (169,745)	$ 48,138
Other comprehensive (loss) income
Net unrealized holdings (losses) gains on available-for-sale fixed maturities arising during the year	(108,771)	44,414	32,788
Adjustment for reclassification of net realized losses (gains) recognized in net (loss) income	27,075	(1,816)	576
Foreign currency translation adjustment	2,651	(44,187)	5,373
Other comprehensive (loss) income, before tax	(79,045)	(1,589)	38,737
Income tax benefit related to components of other comprehensive income	45	7	32
Other comprehensive (loss) income, after tax	(79,000)	(1,582)	38,769
Comprehensive (loss) income	(623,405)	(171,327)	86,907
Net (income) loss attributable to noncontrolling interests	(219)	(151)	842
Other comprehensive loss (income) attributable to noncontrolling interests	30	(61)	(5)
Comprehensive (income) loss attributable to noncontrolling interests	(189)	(212)	837
Comprehensive (loss) income attributable to Maiden	$ (623,594)	$ (171,539)	$ 87,744

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Preference shares - Series D	Preference shares – Series A, B, C and D	Preference shares – Series A, B, C and D Preference shares - Series D	Preference shares – Series A, B, C and D Preference shares - Series B	Common shares	Common shares Preference shares - Series B	Additional paid-in capital	Additional paid-in capital Preference shares - Series B	Accumulated other comprehensive (loss) income	(Accumulated deficit) retained earnings	Treasury shares	Noncontrolling interests in subsidiaries
Beginning balance at Dec. 31, 2015			$ 480,000			$ 747		$ 579,178		$ (23,767)	$ 316,184	$ (4,521)	$ 1,278
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Mandatory conversion of Preference Shares – Series B					$ (165,000)		$ 121		$ 164,879
Issuance of Preference Shares				$ 0
Exercise of options and issuance of common shares						5		1,926
Share-based compensation expense								3,414
Others								(141)
Change in net unrealized (losses) gains on investment										33,396
Foreign currency translation adjustment										5,368			5
Net (loss) income attributable to Maiden	$ 48,980										48,980
Dividends on preference shares											(33,756)
Dividends on common shares											(45,746)
Shares repurchased												(470)
Acquisition of subsidiary													14
Acquisition of minority interest in subsidiaries													(69)
Dividend paid to noncontrolling interest													(31)
Net (income) loss attributable to noncontrolling interests	842												(842)
Ending balance at Dec. 31, 2016	1,361,152		315,000			873		749,256		14,997	285,662	(4,991)	355
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Mandatory conversion of Preference Shares – Series B					0		0		0
Issuance of Preference Shares				150,000
Exercise of options and issuance of common shares						4		1,077
Share-based compensation expense								2,938
Issuance costs of Preference Shares								(5,058)
Others								(100)
Change in net unrealized (losses) gains on investment										42,605
Foreign currency translation adjustment										(44,248)			61
Net (loss) income attributable to Maiden	(169,896)										(169,896)
Dividends on preference shares											(29,156)
Dividends on common shares											(51,138)
Shares repurchased												(25,651)
Acquisition of subsidiary													0
Acquisition of minority interest in subsidiaries													(115)
Dividend paid to noncontrolling interest													0
Net (income) loss attributable to noncontrolling interests	(151)												151
Ending balance at Dec. 31, 2017	1,232,626		465,000			877		748,113		13,354	35,472	(30,642)	452
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Mandatory conversion of Preference Shares – Series B					$ 0		$ 0		$ 0
Issuance of Preference Shares				$ 0
Exercise of options and issuance of common shares						2		29
Share-based compensation expense								1,276
Issuance costs of Preference Shares								0
Others								0
Change in net unrealized (losses) gains on investment										(81,651)
Foreign currency translation adjustment										2,681			(30)
Net (loss) income attributable to Maiden	(544,624)										(544,624)
Dividends on preference shares		$ (7,538)									(25,636)
Dividends on common shares											(29,103)
Shares repurchased												(873)
Acquisition of subsidiary													0
Acquisition of minority interest in subsidiaries													0
Dividend paid to noncontrolling interest													0
Net (income) loss attributable to noncontrolling interests	(219)												219
Ending balance at Dec. 31, 2018	$ 554,916		$ 465,000			$ 879		$ 749,418		$ (65,616)	$ (563,891)	$ (31,515)	$ 641

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash flows from operating activities
Net (loss) income	$ (544,405)	$ (169,745)	$ 48,138
Less: Net loss from discontinued operations	94,113	22,096	30,922
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation, amortization and share-based compensation	6,179	8,387	12,608
Net realized losses (gains) on investment	1,529	(12,222)	(6,774)
Total other-than-temporary impairment losses	5,832	0	0
Foreign exchange and other (gains) losses	(4,461)	14,921	(13,412)
Changes in assets – (increase) decrease:
Reinsurance balances receivable, net	(135)	79,403	10,983
Accrued investment income	752	1,088	(3,495)
Deferred commission and other acquisition expenses	(9,574)	(18,753)	(20,107)
Other assets	78,544	21,932	(45,721)
Changes in liabilities – increase (decrease):
Reserve for loss and loss adjustment expenses	693,215	485,626	344,914
Unearned premiums	(25,106)	23,030	75,338
Accrued expenses and other liabilities	(14,879)	(31,188)	27,333
Net cash provided by operating activities for continuing operations	281,604	424,575	460,727
Net cash (used in) provided by operating activities for discontinued operations	(99,315)	33,993	9,393
Net cash provided by operating activities	182,289	458,568	470,120
Cash flows from investing activities:
Purchases of fixed maturities – available-for-sale	(997,137)	(837,903)	(1,056,618)
Purchases of other investments	(18,383)	(986)	(172)
Net proceeds from sale of discontinued operations	255,917	0	0
Proceeds from sales of fixed maturities – available-for-sale	367,346	164,957	69,007
Proceeds from maturities, paydowns and calls of fixed maturities – available-for-sale	241,962	314,540	502,266
Proceeds from maturities and calls of fixed maturities – held-to-maturity	78,241	39,653	6,172
Proceeds from sale and redemption of other investments	2,161	11,702	1,481
Other, net	(2,063)	(4,280)	(434)
Net cash used in investing activities for continuing operations	(71,956)	(312,317)	(478,298)
Net cash provided by (used in) investing activities for discontinued operations	104,855	(47,538)	(99,766)
Net cash provided by (used in) investing activities	32,899	(359,855)	(578,064)
Cash flows from financing activities:
Preference shares, net of issuance costs	0	144,942	(143)
Senior notes, net of issuance costs	0	0	106,285
Issuance of common shares	31	1,081	1,931
Repurchase of common shares	(873)	(25,651)	(470)
Dividends paid – Maiden common shares	(41,555)	(51,634)	(43,127)
Dividends paid – preference shares	(25,636)	(29,156)	(33,756)
Net cash used in financing activities	(68,033)	(60,418)	(76,780)
Effect of exchange rate changes on foreign currency cash	(1,556)	3,673	1,759
Net increase (decrease) in cash and cash equivalents and restricted cash and cash equivalents	145,599	41,968	(182,965)
Cash and cash equivalents and restricted cash and cash equivalents, beginning of year	191,503	149,535	332,500
Cash and cash equivalents and restricted cash and cash equivalents, end of year	337,102	191,503	149,535
Cash and restricted cash and equivalents of continuing operations, end of year	330,989	149,375	110,402
Cash and cash equivalents, end of year	200,841	54,470	41,276
Restricted cash and cash equivalents, end of year	130,148	94,905	69,126
Total cash and cash equivalents and restricted cash and equivalents, end of year	330,989	149,375	110,402
Non-cash investing activities
Investments transferred out related to novation of reinsurance contract	176,865	0	0
Supplemental information on cash flows
Interest paid	19,106	23,106	27,897
Taxes paid	524	555	494
2012 Senior Notes
Cash flows from financing activities:
Redemption of Senior Notes	$ 0	$ (100,000)	$ (107,500)

Organization	12 Months Ended
Organization	Dec. 31, 2018
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. Together with its subsidiaries (collectively referred to as the "Company", "We" or "Maiden"), we provide reinsurance through our wholly owned subsidiary, Maiden Reinsurance Ltd. ("Maiden Bermuda") and have operations in Bermuda. 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 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 life and general business is also written on a primary basis by Maiden Life Försäkrings AB ("Maiden LF") and Maiden General Försäkrings AB ("Maiden GF"), both wholly owned subsidiaries of Maiden Holdings, as part of Maiden Global’s service offerings. Strategic Review The Company's business has undergone significant changes in the last year. Maiden Holding's Board of Directors initiated a review of strategic alternatives (the "Strategic Review") in the first quarter of 2018 to evaluate ways to increase shareholder value as a result of continuing significant operating losses and lower returns on equity than planned. As part of the Strategic Review, a series of transactions were entered into which are described herein and in “Note 18. Subsequent Events", which includes additional information related to these events. In addition, as of September 30, 2018 and December 31, 2018, the Company and Maiden Bermuda failed to meet their requirements to hold sufficient capital to cover their respective economic capital requirement (“ECR”). The Company had communicated such conditions to the Bermuda Monetary Authority ("BMA") and via its Quarterly Report on Form 10-Q filed with the SEC on November 9, 2018 and is following the guidelines of a reportable “event” as stipulated by Bermuda insurance law. The Company has taken the following actions to remediate the breach including: (1) completed the sale of Maiden Reinsurance North America, Inc. ("Maiden US"), on December 27, 2018; (2) Maiden Bermuda's shareholders, Maiden Holdings and Maiden Holdings North America, Ltd. ("Maiden NA"), made capital injections of $125,000 on December 31, 2018 and $70,000 in January 2019 to Maiden Bermuda from the sale proceeds of Maiden US; (3) entered into a partial termination amendment ("Partial Termination Amendment") with AmTrust Financial Services Inc. ("AmTrust") effective January 1, 2019; and (4) entered into amendments which terminated the AmTrust Quota Share Reinsurance Agreement ("AmTrust Quota Share") and the AmTrust European Hospital Liability Quota Share Agreement ("European Hospital Liability Quota Share") effective January 1, 2019. As a result of these actions and pending finalization and regulatory approval of the loss portfolio transfer and adverse development cover entered into by Maiden Bermuda and Enstar Group Limited ("New LPT/ADC MTA") on March 1, 2019, we estimate that the Company and Maiden Bermuda will have sufficient capital in excess of the respective ECR requirements and that this position should improve throughout 2019. Discontinued Operations As part of the strategic review initiated by the Company's Board of Directors earlier in 2018, during the third quarter of 2018, the Company made the strategic decision to divest its U.S. treaty reinsurance operations. Except as explicitly described as held for sale or as discontinued operations, and unless otherwise noted, all discussions and amounts presented herein relate to the Company's continuing operations except for net loss, net loss attributable to Maiden and net loss attributable to Maiden common shareholders. Sale of U.S. treaty reinsurance operations The sale of the U.S. treaty reinsurance business occurred in two parts as described below: (a) On August 29, 2018, the Company announced that it had entered into a Renewal Rights Agreement ("Renewal Rights"), dated as of August 29, 2018, with Transatlantic Reinsurance Company ("TransRe"), pursuant to which the Company agreed to sell, and TransRe agreed to purchase, Maiden US's rights to: (i) renew Maiden US’s treaty reinsurance agreements upon their expiration or cancellation, (ii) solicit renewals of and replacement coverages for the treaty reinsurance agreements and (iii) replicate and use the products and contract forms used in Maiden US’s business. The sale was consummated on August 29, 2018. The payment received for the sale of the Renewal Rights was $7,500 subject to potential additional amounts payable in the future in accordance with the agreement. (b) On December 27, 2018, the Company announced that its subsidiary, Maiden Holdings North America, Ltd. ("Maiden NA"), completed its sale agreement (U.S. Master Transaction Agreement, "US MTA") dated as of August 31, 2018, with Enstar Holdings (US) LLC ("Enstar Holdings"), pursuant to which Maiden NA sold, and Enstar Holdings purchased Maiden NA’s subsidiary Maiden US. Pursuant to and subject to the terms of the US MTA: (i) Maiden NA sold, and Enstar Holdings purchased, all of the outstanding shares of common stock of Maiden US (the “Maiden US Sale”) for gross consideration of $286,375, which included estimated closing adjustments but is subject to post-closing adjustments; (ii) Cavello Bay Reinsurance Limited ("Cavello"), Enstar Group Limited’s ("Enstar") Bermuda reinsurance affiliate, and Maiden Bermuda entered into an agreement pursuant to which certain quota share reinsurance contracts between Maiden US and Maiden Bermuda were novated to Cavello for a ceding commission payable by Maiden Bermuda of $12,250; 1. Organization (continued) (iii) Cavello and Maiden Bermuda also entered into a retrocession agreement pursuant to which certain assets and liabilities associated with the Company’s U.S. treaty reinsurance business held by Maiden Bermuda were retroceded to Cavello in exchange for a $1,750 ceding commission; and (iv) Maiden Bermuda provided Enstar with a reinsurance cover for loss reserve development, up to a maximum of $25,000, when losses are more than $100,000 in excess of the net loss and loss adjustment expenses recorded as of June 30, 2018, for no additional consideration. The Company has determined that the sale of the U.S. treaty reinsurance operations represents a strategic shift that will have a major effect on its ongoing operations and financial results and that all of the held for sale criteria have been met. Accordingly, all transactions related to the U.S. treaty reinsurance operations are reported and presented as part of discontinued operations. Please refer to "Note 2. Significant Accounting Policies" and "Note 6. Discontinued Operations" for additional information regarding the effect of the reclassifications on the Company's Consolidated Financial Statements. Segments As a result of the strategic decision to divest all of the Company's U.S. treaty reinsurance operations noted above, the Company has revised the composition of its reportable segments. As described in more detail below under “Note 3. Segment Information”, the reportable segments include: (i) Diversified Reinsurance which consists of a portfolio of property and casualty reinsurance business focusing on regional and specialty property and casualty insurance companies located primarily in Europe; and (ii) AmTrust Reinsurance which includes all business ceded to Maiden Bermuda from subsidiaries of AmTrust. In addition to these reportable segments, the results of operations of the former National General Holdings Corporation Quota Share ("NGHC Quota Share") segment is included in the "Other" category. All prior periods presented have been reclassified to conform to this new presentation. For the year ended December 31, 2018, the Company's AmTrust Reinsurance segment accounted for 93.5% (2017 - 95.9% and 2016 - 96.1%), of the Company's total consolidated gross premiums written.

Segment Information

12 Months Ended

Dec. 31, 2018

Segment Reporting [Abstract]

Segment Information

The Company currently has two reportable segments: Diversified Reinsurance and AmTrust Reinsurance. Our Diversified Reinsurance segment consists of a portfolio of predominantly property and casualty reinsurance business focusing on regional and specialty property and casualty insurance companies located primarily in Europe. Our AmTrust Reinsurance segment includes all business ceded to Maiden Bermuda from AmTrust, primarily the AmTrust Quota Share and the European Hospital Liability Quota Share. In addition to our reportable segments, the results of operations of the former NGHC Quota Share segment have been included in the "Other" category. Please refer to "Note 10. Related Party Transactions" for additional information.

As a result of the strategic decision to divest all of the Company's U.S. treaty reinsurance operations as discussed in "Note 1. Organization" and "Note 6. Discontinued Operations", the Company has revised the composition of its reportable segments. Previously, the underwriting results associated with the discontinued operations of the Company's U.S. treaty reinsurance business were included within the Diversified Reinsurance segment and the operating results associated with the remnants of the U.S. excess and surplus business were included within the Other category. These are now excluded and all prior periods presented have been reclassified to conform to this new presentation.

The Company evaluates segment performance based on segment profit separately from the results of our investment portfolio. General and administrative expenses are allocated to the segments 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, deferred commission and other acquisition expenses, loans, restricted cash and cash equivalents and investments, and reinsurance recoverable on paid and unpaid losses, unearned reinsurance premiums ceded, and funds withheld receivable (presented as part of other assets in the Consolidated Balance Sheet). All remaining assets are allocated to Corporate.

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 (loss) income from continuing operations:



For the Year Ended December 31, 2018	Diversified Reinsurance			AmTrust Reinsurance			Other			Total
Gross premiums written	$	131,518		$	1,886,280		$	—		$	2,017,798
Net premiums written	$	129,319		$	1,885,278		$	—		$	2,014,597
Net premiums earned	$	112,487		$	1,913,715		$	—		$	2,026,202
Other insurance revenue	9,681			—			—			9,681
Net loss and LAE	(71,441		)	(1,806,995		)	(1,685		)	(1,880,121		)
Commission and other acquisition expenses	(38,749		)	(615,991		)	—			(654,740		)
General and administrative expenses	(17,396		)	(3,845		)	—			(21,241		)
Underwriting loss	$	(5,418	)	$	(513,116	)	$	(1,685	)	(520,219		)
Reconciliation to net loss from continuing operations
Net investment income and realized losses on investment										134,756
Total other-than-temporary impairment loss										(5,832		)
Interest and amortization expenses										(19,318		)
Foreign exchange and other gains, net										4,461
Other general and administrative expenses										(43,699		)
Income tax expense										(441		)
Net loss from continuing operations										$	(450,292	)

Net loss and LAE ratio⁽¹⁾	58.5		%	94.4		%				92.3		%
Commission and other acquisition expense ratio⁽²⁾	31.7		%	32.2		%				32.2		%
General and administrative expense ratio⁽³⁾	14.2		%	0.2		%				3.2		%
Expense ratio⁽⁴⁾	45.9		%	32.4		%				35.4		%
Combined ratio⁽⁵⁾	104.4		%	126.8		%				127.7		%

3. Segment Information (continued)



For the Year Ended December 31, 2017	Diversified Reinsurance			AmTrust Reinsurance			Other			Total
Gross premiums written	$	84,613		$	1,993,478		$	—		$	2,078,091
Net premiums written	$	82,521		$	1,954,856		$	—		$	2,037,377
Net premiums earned	$	83,015		$	1,909,644		$	—		$	1,992,659
Other insurance revenue	9,802			—			—			9,802
Net loss and LAE	(54,714		)	(1,498,881		)	(1,838		)	(1,555,433		)
Commission and other acquisition expenses	(29,018		)	(614,777		)	(2		)	(643,797		)
General and administrative expenses	(15,976		)	(3,052		)	—			(19,028		)
Underwriting loss	$	(6,891	)	$	(207,066	)	$	(1,840	)	(215,797		)
Reconciliation to net loss from continuing operations
Net investment income and realized gains on investment										136,357
Interest and amortization expenses										(23,260		)
Accelerated amortization of senior note issuance cost										(2,809		)
Foreign exchange losses										(14,921		)
Other general and administrative expenses										(33,976		)
Income tax benefit										6,757
Net loss from continuing operations										$	(147,649	)

Net loss and LAE ratio⁽¹⁾	58.9		%	78.4		%				77.7		%
Commission and other acquisition expense ratio⁽²⁾	31.3		%	32.2		%				32.2		%
General and administrative expense ratio⁽³⁾	17.2		%	0.2		%				2.6		%
Expense ratio⁽⁴⁾	48.5		%	32.4		%				34.8		%
Combined ratio⁽⁵⁾	107.4		%	110.8		%				112.5		%

3. Segment Information (continued)



For the Year Ended December 31, 2016	Diversified Reinsurance			AmTrust Reinsurance			Other			Total
Gross premiums written	$	82,383		$	2,006,646		$	—		$	2,089,029
Net premiums written	$	79,243		$	1,888,428		$	—		$	1,967,671
Net premiums earned	$	81,967		$	1,843,621		$	—		$	1,925,588
Other insurance revenue	10,817			—			—			10,817
Net loss and LAE	(51,795		)	(1,225,830		)	(11,887		)	(1,289,512		)
Commission and other acquisition expenses	(31,249		)	(584,820		)	546			(615,523		)
General and administrative expenses	(15,543		)	(2,896		)	—			(18,439		)
Underwriting (loss) income	$	(5,803	)	$	30,075		$	(11,341	)	12,931
Reconciliation to net income from continuing operations
Net investment income and realized gains on investment										115,463
Interest and amortization expenses										(28,173		)
Accelerated amortization of senior note issuance cost										(2,345		)
Foreign exchange gains										13,412
Other general and administrative expenses										(31,815		)
Income tax expense										(413		)
Net income from continuing operations										$	79,060

Net loss and LAE ratio ⁽¹⁾	55.8		%	66.5		%				66.6		%
Commission and other acquisition expense ratio ⁽²⁾	33.7		%	31.7		%				31.8		%
General and administrative expense ratio ⁽³⁾	16.8		%	0.2		%				2.6		%
Expense ratio⁽⁴⁾	50.5		%	31.9		%				34.4		%
Combined ratio⁽⁵⁾	106.3		%	98.4		%				101.0		%


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


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


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


(4)	Calculated by adding together the commission and other acquisition expense ratio and general and administrative expense ratio.


(5)	Calculated by adding together the net loss and LAE ratio and the 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, 2018 and 2017:



December 31, 2018	Diversified Reinsurance		AmTrust Reinsurance		Total
Reinsurance balances receivable, net	$	29,030	$	38,278	$	67,308
Deferred commission and other acquisition expenses	18,405		370,037		388,442
Loan to related party	—		167,975		167,975
Restricted cash and cash equivalents and investments	114,220		3,918,810		4,033,030
Other assets	28,782		640		29,422
Total assets - reportable segments	190,437		4,495,740		4,686,177
Corporate assets	—		—		426,808
Assets held for sale	—		—		174,475
Total Assets	$	190,437	$	4,495,740	$	5,287,460

December 31, 2017	Diversified Reinsurance		AmTrust Reinsurance		Total
Reinsurance balances receivable, net	$	22,225	$	50,269	$	72,494
Deferred commission and other acquisition expenses	20,240		359,964		380,204
Loan to related party	—		167,975		167,975
Restricted cash and cash equivalents and investments	108,065		3,576,559		3,684,624
Other assets	17,108		104,216		121,324
Total assets - reportable segments	167,638		4,258,983		4,426,621
Corporate assets	—		—		315,750
Assets held for sale	—		—		1,901,818
Total Assets	$	167,638	$	4,258,983	$	6,644,189

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, 2018, 2017 and 2016. In the case of business assumed from AmTrust, it is the location of the relevant AmTrust subsidiaries.



For the Year Ended December 31,	2018		2017		2016
Gross premiums written – North America	$	1,591,745	$	1,750,145	$	1,700,164
Gross premiums written – Other (predominantly Europe)	426,053		327,946		388,865
Gross premiums written – Total	$	2,017,798	$	2,078,091	$	2,089,029
Net premiums written – North America	$	1,590,466	$	1,710,760	$	1,592,951
Net premiums written – Other (predominantly Europe)	424,131		326,617		374,720
Net premiums written – Total	$	2,014,597	$	2,037,377	$	1,967,671
Net premiums earned – North America	$	1,635,855	$	1,667,219	$	1,541,622
Net premiums earned – Other (predominantly Europe)	390,347		325,440		383,966
Net premiums earned – Total	$	2,026,202	$	1,992,659	$	1,925,588

3. Segment Information (continued)

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, 2018, 2017 and 2016:



For the Year Ended December 31,	2018				2017					2016
	Total		% of Total		Total			% of Total		Total		% of Total
Diversified Reinsurance
International	$	129,305	6.4	%	$	82,534		4.1	%	$	78,673	4.0	%
Other	14		—	%	(13		)	—	%	570		—	%
Total Diversified Reinsurance	129,319		6.4	%	82,521			4.1	%	79,243		4.0	%
AmTrust Reinsurance
Small Commercial Business	1,092,615		54.2	%	1,278,974			62.8	%	1,181,496		60.1	%
Specialty Program	336,847		16.7	%	350,113			17.1	%	344,677		17.5	%
Specialty Risk and Extended Warranty	455,816		22.7	%	325,769			16.0	%	362,255		18.4	%
Total AmTrust Reinsurance	1,885,278		93.6	%	1,954,856			95.9	%	1,888,428		96.0	%
	$	2,014,597	100.0	%	$	2,037,377		100.0	%	$	1,967,671	100.0	%

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, 2018, 2017 and 2016:



For the Year Ended December 31,	2018				2017					2016
	Total		% of Total		Total			% of Total		Total		% of Total
Diversified Reinsurance
International	$	112,473	5.5	%	$	83,027		4.2	%	$	80,782	4.2	%
Other	14		—	%	(12		)	—	%	1,185		0.1	%
Total Diversified Reinsurance	112,487		5.5	%	83,015			4.2	%	81,967		4.3	%
AmTrust Reinsurance
Small Commercial Business	1,167,581		57.6	%	1,255,941			63.0	%	1,131,582		58.8	%
Specialty Program	345,805		17.1	%	344,336			17.3	%	337,396		17.5	%
Specialty Risk and Extended Warranty	400,329		19.8	%	309,367			15.5	%	374,643		19.4	%
Total AmTrust Reinsurance	1,913,715		94.5	%	1,909,644			95.8	%	1,843,621		95.7	%
	$	2,026,202	100.0	%	$	1,992,659		100.0	%	$	1,925,588	100.0	%

Significant Accounting Policies

12 Months Ended

Dec. 31, 2018

Accounting Policies [Abstract]

Significant Accounting Policies

Basis of Reporting and Consolidation — These Consolidated Financial Statements 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. The effect of these reclassifications had no impact on previously reported shareholders' equity or net income (loss).

As part of the strategic review initiated by the Company's Board of Directors earlier in 2018, the Company made the strategic decision to divest its U.S. treaty reinsurance operations during 2018 which had a major effect on its ongoing operations and financial results. Accordingly, all of the assets and liabilities related to the sale of the U.S. treaty reinsurance operations are removed from the Consolidated Balance Sheets of the Company and any remaining assets and liabilities related to the retrocession agreement and true up of sale consideration, are classified as held for sale in the Consolidated Balance Sheets as at December 31, 2018. All of the assets and liabilities related to the U.S. treaty reinsurance operations were reclassified as held for sale as at December 31, 2017. The operations of the Company's U.S. treaty reinsurance business up to the date of sale have been reported as part of loss from discontinued operations in the Consolidated Statements of Income for the year ended December 31, 2018. The operations of the Company's U.S. treaty reinsurance business for the years ended December 31, 2017 and 2016 have been reclassified as part of loss from discontinued operations in the Consolidated Statements of Income.

Except as explicitly described as held for sale or as discontinued operations, and unless otherwise noted, all discussions and amounts presented herein relate to the Company's continuing operations except for net loss, net loss attributable to Maiden and net loss attributable to Maiden common shareholders. Please see “Note 6. Discontinued Operations" for additional information related to discontinued operations. All prior years presented in the Consolidated Financial Statements have been reclassified to conform to this new presentation.

Estimates — The preparation of U.S. GAAP Consolidated Financial Statements requires management to make estimates and assumptions that affect the reported and disclosed 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 ("loss and LAE"); recoverability of reinsurance balances receivable and deferred commission and other acquisition expenses; determination of impairment of goodwill and other intangible assets; valuation of financial instruments and deferred tax assets; and determination of other-than-temporary impairment ("OTTI") of investments.

During the years ended December 31, 2018 and 2017, the Company significantly increased the reserve for loss and LAE in our AmTrust Reinsurance segment. The Company recorded unfavorable reserve development which reduced both its consolidated net income and net income attributable to Maiden for the year ended December 31, 2018 by approximately $399,200 or $4.81 per basic and diluted common share (2017 - $239,896 or $2.80 per basic and diluted common share). Also, as a result of the sale of the U.S. treaty reinsurance operations during the year, the Company has written off the remaining balance of goodwill and intangible assets of $74,196 as they are deemed permanently impaired.

2. Significant Accounting Policies (continued)

Investments — The Company currently classifies its fixed maturity investments as either available-for-sale ("AFS") or held-to-maturity ("HTM"). The AFS portfolio is reported at fair value. The HTM portfolio includes securities for which we have the ability and intent to hold to maturity or redemption. The HTM portfolio is reported at amortized cost. When a security is transferred from AFS to HTM, the fair value at the time of transfer, adjusted for subsequent amortization, becomes the security's amortized cost. The fair value of fixed maturity investments is generally determined from quotations received from nationally recognized pricing services ("Pricing Service"), 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. The Company held no short-term investments as at December 31, 2018 and 2017.

The Company's other investments comprise of unquoted investments. The Company accounts for its unquoted other investments at fair value in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 944, "Financial Services - Insurance" ("ASC 944"). Unquoted other investments are primarily comprised of 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, as well as investments in special purpose vehicles focused on lending activities, and start-up insurance entities, both of which are reported at fair value using recent private market transactions.

Unrealized gains or losses on fixed maturities are reported as a component of accumulated other comprehensive income ("AOCI"). The net unrealized holding gains of securities transferred from AFS to HTM at the designation date continue to be reported in the carrying value of the HTM securities and is amortized through Other Comprehensive Income over the remaining life of the securities using the effective yield method in a manner consistent with the amortization of any premium or discount.

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. For our U.S. government agency mortgage-backed securities ("Agency 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 securities to determine if the impairment is 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 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 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 investment portfolio is the largest component of our consolidated assets, OTTI on our fixed maturity securities could be material to our financial condition and results particularly during periods of dislocation in the financial markets.

2. Significant Accounting Policies (continued)

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 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: U.S. Treasury bonds;

•

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; commercial mortgage-backed securities ("CMBS"); collateralized loan obligations ("CLO"); corporate and municipal bonds; 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: an investment in preference shares of a start-up insurance producer.

The availability of observable inputs can vary 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 at 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 from a third party nationally recognized provider, 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 LAE 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, premium written is recognized based on estimates of ultimate premiums provided by the ceding companies. Initial estimates of premium written 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.

2. Significant Accounting Policies (continued)

The unexpired portion of reinsurance purchased by the Company (retrocession or reinsurance premiums ceded) is included in other assets 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. Losses recoverable are recorded as an asset called reinsurance recoverable on unpaid losses which is included in other assets. 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. No deposit contracts are held as at December 31, 2018 and 2017.

Acquisition expenses represent the costs of writing business that vary with, and are primarily related to, the production of the 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 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 statistical analysis of actuarial data 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.

Ceding Commissions on Reinsurance Transactions — Ceding commissions on reinsurance transactions are commissions the Company receives from ceding gross premiums written to third party reinsurers. The ceding commissions the Company receives cover a portion of its capitalized acquisition costs and a portion of other underwriting expenses. Ceding commissions received from reinsurance transactions that represent recovery of capitalized direct acquisition costs are recorded as a reduction of deferred acquisition costs and the net amount is charged to expense in proportion to net premium revenue recognized. Ceding commissions received from reinsurance transactions that represent the recovery of other underwriting expenses are recognized in the statement of income over the insurance contract period in proportion to the insurance protection provided and classified as a reduction of acquisition costs and other underwriting expenses. Ceding commissions received, but not yet earned, that represent the recovery of other underwriting expenses are classified as a component of accrued expenses and other liabilities. The Company allocates earned ceding commissions to its segments based on each segment’s proportionate share of total acquisition costs and other underwriting expenses recognized during the period.

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 and amortization expenses in the Consolidated Statements of Income. The unamortized amount of these costs is presented as a deduction from the related liability in the Consolidated Balance Sheet.

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. Finite 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. We have established October 1 as the date for performing the annual impairment tests or when “triggering events” occur or circumstances change that could potentially reduce the fair value of a reporting unit below its carrying amount. Goodwill is considered impaired if the carrying amount of the reporting unit exceeds the fair value. If goodwill or other intangible assets are impaired, they are written down to their estimated fair values with a corresponding loss reflected in the Consolidated Statements of Income.

2. Significant Accounting Policies (continued)

The announced sale of our U.S. treaty reinsurance operations resulted in a triggering event and consequently during the year ended December 31, 2018, the Company has written off the remaining balance of goodwill and intangible assets. The goodwill and intangible assets were deemed to be permanently impaired due to the sale of the U.S. treaty reinsurance renewal rights and the sale of the U.S. Diversified Reinsurance business. Please refer to "Note 6. Discontinued Operations" for further details of this disposal. The Company recognized an impairment loss of $74,196 as a result of these dispositions, which is presented in the Consolidated Statements of Income as part of the loss from discontinued operations for the year ended December 31, 2018.

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 Consolidated Balance Sheets. Net income (loss) attributable to noncontrolling interests is presented separately in the 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 or accrued any interest or penalties during the years ended December 31, 2018, 2017 and 2016.

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. Forfeitures are accounted for when they occur. The estimated fair value of the grant will be amortized ratably over its vesting period as a charge to compensation expense (a component of general and administrative expenses) and an increase to additional paid in capital in Consolidated Shareholders’ Equity. The estimated fair value of the PB-RSUs is recognized as a charge to compensation expense and an increase to additional paid in capital in Consolidated Shareholders’ Equity following certain criteria such as non-GAAP 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. Forfeitures are accounted for when they occur.

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, restricted share units ("RSUs") and PB-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. On September 15, 2016, the Company's mandatory convertible Preference Shares - Series B were automatically converted into the Company's common shares.

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 attributable to Maiden common shareholders per common share – basic and diluted. However, any undistributed losses are not allocated to the participating securities.

Treasury Shares — Treasury shares are common shares repurchased by the Company and not subsequently cancelled. They also include repurchases from employees, which represent withholdings in respect of tax obligations on the vesting of restricted shares and performance based shares. These shares are recorded at cost and result in a reduction of our shareholders’ equity in the Consolidated Balance Sheets.

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, 2018 was $(5,854) (2017 - $(8,535)).

2. Significant Accounting Policies (continued)

Recently Adopted Accounting Standards Updates

Revenue Recognition

In May 2014, the FASB issued Accounting Standard Update ("ASU") 2014-09 guidance that supersedes most existing revenue recognition guidance. The standard excludes from its scope the accounting for insurance contracts, leases, financial instruments, and certain other agreements that are governed under other GAAP guidance, but could affect the revenue recognition for certain of our other insurance revenue activities. The Company has adopted the guidance in ASU 2014-09 on January 1, 2018. Our analysis of revenues for the year ended December 31, 2018 indicates that substantially all of our revenues are from sources not within the scope of the standard. The Company generates an insignificant amount of fee income which is reported under other insurance revenue in the Consolidated Statements of Income and is within the scope of ASU 2014-09. The Company’s current accounting policy for this revenue is to recognize fee income as earned when the related services are performed which is consistent with the guidance in this ASU. Other insurance revenue is currently less than 1% of total revenues so the expanded disclosure requirements mandated by this ASU are not required or deemed relevant due to materiality. The adoption of ASU 2014-09 did not have a material effect on our reported consolidated financial condition, results of operations or cash flows.

Scope of Modification Accounting

In May 2017, the FASB issued ASU 2017-09 to amend the guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting in Topic 718. The Company currently has a number of share based payment awards as disclosed in "Note 15. Share Compensation and Pension Plans" which are recorded under compensation costs for the year ended December 31, 2018. The adoption of this guidance on January 1, 2018 did not have any impact on the Company's Consolidated Financial Statements as no modifications were made in any of its current share based payment awards.

Recognition and Measurement of Financial Assets and Financial Liabilities

In January 2016, the FASB issued ASU 2016-01 that has changed how entities measure certain equity investments and present changes in the fair value of financial liabilities measured under the fair value option that are attributable to their own credit. Under the new guidance, entities measure many equity investments at fair value and recognize any changes in fair value in net income unless the investments qualify for the new practicability exception. This includes investments in partnerships, unincorporated joint ventures and limited liability companies that do not result in consolidation and are not accounted for under the equity method. Entities are no longer able to recognize unrealized holding gains and losses on equity securities they currently classify as AFS in AOCI. The guidance is effective for annual periods beginning after December 15, 2017, including interim periods within those fiscal years. The adoption of this guidance on January 1, 2018 resulted in the recognition of $502 of net unrealized losses on our investments in limited partnerships within net earnings during the year ended December 31, 2018. Our investments in limited partnerships do not have a readily determinable fair value and therefore, the new guidance was adopted prospectively. Please refer to "Note 4. Investments (d) - Realized Gains on Investment" for additional information.

Classification of Certain Cash Receipts and Cash Payments

In August 2016, the FASB issued ASU 2016-15 guidance to clarify how entities should classify certain cash receipts and cash payments on the statement of cash flows. The new guidance amends ASC 230 Statement of Cash Flows, a principles based requiring judgment to determine the appropriate classification of cash flow as operating, investing or financing activities which created diversity in how certain cash receipts and cash payments were classified. The new guidance clarifies that if a receipt or payment has aspects of more than one class of cash flows and cannot be separated, the classification will depend on the predominant source or use. While the new guidance attempts to clarify how the predominance principle should be applied, judgment will still be required. The guidance is effective for public business entities for annual periods beginning after December 15, 2017 and interim periods therein. Entities will have to apply the guidance retrospectively, but if it is impracticable to do so for an issue, the amendments related to that issue would be applied prospectively. The adoption of this guidance on January 1, 2018 did not have any impact on the Company's results of operations, financial position or liquidity.

Presentation of Restricted Cash in the Statement of Cash Flows

In November 2016, the FASB issued ASU 2016-18 guidance that require entities to show the changes in the total cash, cash equivalents, restricted cash and restricted cash equivalents in the statement of cash flows. As a result, entities will no longer present transfers between cash and cash equivalents and restricted cash and cash equivalents in the statement of cash flows. When cash, cash equivalents, restricted cash and restricted cash equivalents are presented in more than one line item on the balance sheet, the new guidance requires a reconciliation of the totals in the statement of cash flows to the related captions in the balance sheet. This reconciliation can be presented either on the face of the statement of cash flows or in the notes to the financial statements. The guidance is effective for public business entities for fiscal years beginning after December 15, 2017 and interim periods within those fiscal years. The Company adopted this guidance on January 1, 2018. The adoption of this guidance did not have a material effect on the Company's consolidated financial condition, results of operations and disclosures, other than the presentation of restricted cash and cash equivalents in the statement of cash flows. The financial impact in the consolidated statements of cash flows has eliminated the presentation of changes in restricted cash and cash equivalents from cash flows from investing activities. Therefore, changes that result from transfers between cash, cash equivalents, and restricted cash and cash equivalents are no longer presented as cash flow activities in the statement of cash flows. Additionally, a reconciliation between the statement of financial position and the statement of cash flows has been disclosed to show the movement in cash and cash equivalents and restricted cash and cash equivalents from the prior period.

2. Significant Accounting Policies (continued)

Recently Issued Accounting Standards Not Yet Adopted

Improvements to Non-employee Share-Based Payment Accounting

In June 2018, the FASB issued ASU 2018-07 guidance that simplifies the accounting for share-based payments granted to non-employees for goods and services. Under the guidance, most of the guidance on such payments to non-employees would be aligned with the requirements for share-based payments granted to employees as the board viewed the awards to both employees and non-employees to be economically similar and that two different accounting models are not justified. Under the new guidance, i) non-employee share-based payment awards should be measured at the grant date fair value rather than the fair value of the consideration received or the fair value of the equity instruments issued, whichever can be more reliably measured, ii) the measurement date for equity classified non-employee share-based payment awards is at the grant date and not the earlier of the date at which a commitment for performance by the counterparty is reached and the date at which the counter party's performance is complete, and iii) entities should consider the probability of satisfying the performance conditions when awards contain such conditions. The amendments in this guidance are effective for public business entities for fiscal years beginning after December 15, 2018, including interim periods within that fiscal year. Early adoption is permitted, but not earlier than an entity's adoption date of Topic 606.

The Company grants restricted share units as payment for services rendered by its Board of Directors and the aggregate grant-date fair value of restricted share units held by the director is currently determined in accordance with ASC 718. All restricted share units granted to the non-employee directors vest on the first anniversary of the date of grant and are amortized into income over the one-year vesting period. The Company currently measures directors’ share-based payment awards at fair value at their grant date; therefore this amendment is not expected to have a material impact on the Company’s Consolidated Financial Statements.

Codification Improvements to Topic 842, Leases

In February 2016, the FASB issued ASU 2016-02 which provides a new comprehensive model for lease accounting. Topic 842 will require a lessee to recognize a liability to make lease payments and a right-of-use asset representing its right to use the underlying asset for the lease term. In July 2018, the FASB issued ASU 2018-11 for targeted improvements related to Update 2016-02 which provides entities with an additional transition method to apply the new standard. Under the new optional transition method, an entity initially applies ASC 842 at the adoption date and recognizes a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. The Updates related to Topic 842 become effective for the Company on January 1, 2019 and will be applied using a modified retrospective approach. The Company intends to elect the new transition method permitted by ASU 2018-11 at the date of adoption.

The Company's future minimum lease payments, which represent minimum annual rental commitments excluding taxes, insurance and other operating costs for non-cancellable operating leases, and which will be subject to this new guidance, will be recorded on the Company's Consolidated Balance Sheets as a lease liability with a corresponding right-of-use asset. However, under this guidance, the Company shall continue to recognize the related leasing expense within net income. Therefore, the adoption of this standard will impact the Company’s Consolidated Balance Sheets but is not expected to have a material impact on its results of operations or cash flows.

Changes to the Disclosure Requirements for Fair Value Measurement

In August 2018, the FASB issued ASU 2018-13 for changes to the disclosure framework related to Topic 820 which amends the disclosure requirements for fair value measurement. The following disclosure requirements were removed from Topic 820: (i) amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, (ii) policy for timing of transfers between levels, and (iii) valuation processes for Level 3 fair value measurements. The amendments clarify that the measurement uncertainty disclosure is to communicate information about the uncertainty in measurement as of the reporting date. The following disclosure requirements were added to Topic 820: (i) changes in unrealized gains and losses for the period included in other comprehensive income for recurring Level 3 fair value measurements held at the end of the reporting period; and (ii) range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. For certain unobservable inputs, an entity may disclose other quantitative information (such as the median or arithmetic average) in lieu of the weighted average if the entity determines that other quantitative information would be a more reasonable and rational method to reflect the distribution of unobservable inputs used to develop Level 3 fair value measurements.

The amendments in this Update are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The amendments on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. Early adoption is permitted upon issuance of this Update. An entity is permitted to early adopt any removed or modified disclosures upon issuance of this Update and delay adoption of the additional disclosures until their effective date. These amendments only impact disclosures made in "Note 5. Fair Value Measurements" therefore, the adoption of this standard will not impact the Company’s consolidated balance sheets, results of operations or cash flows.

2. Significant Accounting Policies (continued)

Premium Amortization on Purchased Callable Debt Securities

In March 2017, the FASB issued ASU 2017-08 to amend the amortization period for certain purchased callable debt securities held at a premium. Current GAAP excludes certain callable debt securities from consideration of early repayment of principal even if the holder is certain that the call will be exercised. As a result, upon the exercise of a call on a callable debt security held at a premium, the unamortized premium is recorded as a loss in earnings.

The amendments in ASU 2017-08 affect all entities that hold investments in callable debt securities that have an amortized cost basis in excess of the amount that is repayable by the issuer at the earliest call date. The amendments shorten the amortization period for certain callable debt securities held at a premium and require the premium to be amortized to the earliest call date. The amendments do not require an accounting change for securities held at a discount; the discount continues to be amortized to maturity. For public business entities, the amendments are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. An entity should apply the amendments on a modified retrospective basis through a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. Additionally, in the period of adoption, an entity should provide disclosures about a change in accounting principle.

The Company holds a number of fixed maturities with callable features on its Consolidated Balance Sheets and this includes certain securities that have been purchased at a premium that are being amortized to their contractual maturity dates. The Company is currently evaluating the impact of this guidance on the Company's results of operations, financial position and liquidity; however, it is not expected to have a material impact at the date of adoption.

Accounting for Measurement of Credit Losses on Financial Instruments

In June 2016, the FASB issued ASU 2016-13 guidance that changes the impairment model for most financial assets and certain other instruments that are not measured at fair value through net income. The standard will replace today's "incurred loss" approach with an "expected loss" model for instruments measured at amortized cost and require entities to record allowances for AFS debt securities rather than reduce the carrying amount as they do today under the current OTTI model. The allowance for credit losses is a valuation account that is deducted from the amortized cost of the financial asset to present the net carrying value at the amount expected to be collected on the financial asset. It also simplifies the accounting model for purchased credit-impaired debt securities and loans with credit deterioration since their origination. Entities will apply the standard's provisions as a cumulative effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. The guidance is effective for public business entities for annual periods beginning after December 15, 2019, and interim periods therein. The Company is currently evaluating the impact of this guidance on its results of operations, financial condition and liquidity.

Investments

12 Months Ended

Dec. 31, 2018

Schedule of Investments [Abstract]

Investments

a) Fixed Maturities

The original or amortized cost, estimated fair value and gross unrealized gains and losses of our fixed maturities at December 31, 2018 and 2017, are as follows:



December 31, 2018	Original or amortized cost		Gross unrealized gains		Gross unrealized losses			Fair value
AFS fixed maturities:
U.S. treasury bonds	$	138,625	$	448	$	(1	)	$	139,072
U.S. agency bonds – mortgage-backed	1,485,716		3,491		(36,073		)	1,453,134
U.S. agency bonds – other	129,741		40		(548		)	129,233
Non-U.S. government and supranational bonds	11,212		66		(1,206		)	10,072
Asset-backed securities	216,072		425		(1,415		)	215,082
Corporate bonds	1,128,614		6,525		(30,164		)	1,104,975
Total AFS fixed maturities	3,109,980		10,995		(69,407		)	3,051,568
HTM fixed maturities:
Corporate bonds	957,845		3,872		(20,990		)	940,727
Municipal bonds	57,836		—		(551		)	57,285
Total HTM fixed maturities	1,015,681		3,872		(21,541		)	998,012
Total fixed maturity investments	$	4,125,661	$	14,867	$	(90,948	)	$	4,049,580



December 31, 2017	Original or amortized cost		Gross unrealized gains		Gross unrealized losses			Fair value
AFS fixed maturities:
U.S. treasury bonds	$	35,093	$	4	$	—		$	35,097
U.S. agency bonds – mortgage-backed	1,475,682		6,181		(13,723		)	1,468,140
U.S. agency bonds – other	19,868		—		(149		)	19,719
Non-U.S. government and supranational bonds	32,380		231		(1,713		)	30,898
Asset-backed securities	225,015		3,457		(79		)	228,393
Corporate bonds	911,259		28,423		(14,413		)	925,269
Total AFS fixed maturities	2,699,297		38,296		(30,077		)	2,707,516
HTM fixed maturities:
Corporate bonds	1,037,464		28,694		(913		)	1,065,245
Municipal bonds	60,337		128		(84		)	60,381
Total HTM fixed maturities	1,097,801		28,822		(997		)	1,125,626
Total fixed maturity investments	$	3,797,098	$	67,118	$	(31,074	)	$	3,833,142

During the year ended December 31, 2018, we did not designate any additional fixed maturities as HTM. During 2017, we designated additional fixed maturities with a total fair value of $391,934 as HTM reflecting our intent to hold these securities to maturity. The net unrealized holding gain of $4,313 as at the designation date in 2017 continues to be reported in the carrying value of the HTM securities and is amortized through other comprehensive income over the remaining life of the securities using the effective yield method in a manner consistent with the amortization of any premium or discount.

4. Investments (continued)

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.



	AFS fixed maturities				HTM fixed maturities
December 31, 2018	Amortized cost		Fair value		Amortized cost		Fair value
Maturity
Due in one year or less	$	130,857	$	130,756	$	2,020	$	2,021
Due after one year through five years	715,233		703,347		394,875		391,709
Due after five years through ten years	562,102		549,249		618,786		604,282
	1,408,192		1,383,352		1,015,681		998,012
U.S. agency bonds – mortgage-backed	1,485,716		1,453,134		—		—
Asset-backed securities	216,072		215,082		—		—
Total fixed maturities	$	3,109,980	$	3,051,568	$	1,015,681	$	998,012

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, 2018	Fair value		Unrealized losses			Fair value		Unrealized losses			Fair value		Unrealized losses
Fixed maturities
U.S. treasury bonds	$	125	$	(1	)	$	—	$	—		$	125	$	(1	)
U.S. agency bonds – mortgage-backed	416,147		(6,624		)	838,091		(29,449		)	1,254,238		(36,073		)
U.S. agency bonds – other	26,838		(27		)	17,462		(521		)	44,300		(548		)
Non-U.S. government and supranational bonds	4,024		(252		)	3,770		(954		)	7,794		(1,206		)
Asset-backed securities	74,801		(1,196		)	5,793		(219		)	80,594		(1,415		)
Corporate bonds	1,052,765		(30,334		)	286,542		(20,820		)	1,339,307		(51,154		)
Municipal bonds	20,379		(261		)	36,906		(290		)	57,285		(551		)
Total temporarily impaired fixed maturities	$	1,595,079	$	(38,695	)	$	1,188,564	$	(52,253	)	$	2,783,643	$	(90,948	)

At December 31, 2018, there were approximately 348 securities in an unrealized loss position with a fair value of $2,783,643 and unrealized losses of $90,948. Of these securities, there were 103 securities that have been in an unrealized loss position for 12 months or greater with a fair value of $1,188,564 and unrealized losses of $52,253.



	Less than 12 Months					12 Months or More					Total
December 31, 2017	Fair value		Unrealized losses			Fair value		Unrealized losses			Fair value		Unrealized losses
Fixed maturities
U.S. agency bonds – mortgage-backed	$	632,142	$	(5,299	)	$	327,339	$	(8,424	)	$	959,481	$	(13,723	)
U.S. agency bonds – other	19,718		(149		)	—		—			19,718		(149		)
Non-U.S. government and supranational bonds	1,909		(2		)	25,192		(1,711		)	27,101		(1,713		)
Asset-backed securities	12,408		(30		)	3,017		(49		)	15,425		(79		)
Corporate bonds	161,661		(1,557		)	290,592		(13,769		)	452,253		(15,326		)
Municipal bonds	39,492		(84		)	—		—			39,492		(84		)
Total temporarily impaired fixed maturities	$	867,330	$	(7,121	)	$	646,140	$	(23,953	)	$	1,513,470	$	(31,074	)

4. Investments (continued)

At December 31, 2017, there were approximately 156 securities in an unrealized loss position with a fair value of $1,513,470 and unrealized losses of $31,074. Of these securities, there were 89 securities that have been in an unrealized loss position for 12 months or greater with a fair value of $646,140 and unrealized losses of $23,953.

OTTI

The Company performs quarterly reviews of its 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. At December 31, 2018, we have determined that the unrealized losses on fixed maturities were primarily due to interest rates rising as well as the impact of foreign exchange rate changes on certain foreign currency denominated AFS fixed maturities since their date of purchase. All fixed maturity securities in the investment portfolio continue to pay the expected coupon payments under the contractual terms of the securities. Any credit-related impairment related to fixed maturity securities that the Company does not plan to sell and for which the Company is not more likely than not to be required to sell is recognized in net earnings, with the non-credit related impairment recognized in comprehensive earnings. Based on our analysis, our fixed maturity portfolio is of high credit quality and we believe we will recover the amortized cost basis of our fixed maturity securities. We continually monitor the credit quality of our fixed maturity investments to assess if it is probable that we will receive our contractual or estimated cash flows in the form of principal and interest. For the year ended December 31, 2018, the Company recognized $5,832 in OTTI losses in earnings on seventy-two fixed maturity securities. Comparatively, there were no OTTI losses recognized in earnings on the fixed maturity portfolio for the years ended December 31, 2017 and December 31, 2016. The following summarizes the credit ratings of our fixed maturities:



Ratings⁽¹⁾ at December 31, 2018	Amortized cost		Fair value		% of Total fair value
U.S. treasury bonds	$	138,625	$	139,072	3.4	%
U.S. agency bonds	1,615,457		1,582,367		39.1	%
AAA	137,172		135,119		3.3	%
AA+, AA, AA-	183,142		178,674		4.4	%
A+, A, A-	1,132,993		1,113,710		27.5	%
BBB+, BBB, BBB-	866,043		848,348		21.0	%
BB+ or lower	52,229		52,290		1.3	%
Total fixed maturities	$	4,125,661	$	4,049,580	100.0	%



Ratings⁽¹⁾ at December 31, 2017	Amortized cost		Fair value		% of Total fair value
U.S. treasury bonds	$	35,093	$	35,097	0.9	%
U.S. agency bonds	1,495,550		1,487,859		38.8	%
AAA	156,631		159,682		4.2	%
AA+, AA, AA-	146,264		147,054		3.8	%
A+, A, A-	1,089,230		1,106,430		28.9	%
BBB+, BBB, BBB-	824,351		845,244		22.1	%
BB+ or lower	49,979		51,776		1.3	%
Total fixed maturities	$	3,797,098	$	3,833,142	100.0	%


⁽¹⁾	Based on Standard & Poor’s ("S&P"), or equivalent, ratings

b) Other Investments

The table below shows our portfolio of other investments:



December 31,	2018				2017
	Fair value		% of Total fair value		Fair value		% of Total fair value
Investment in limited partnerships	$	3,833	16.2	%	$	5,100	77.3	%
Investment in special purpose vehicles focused on lending activities	18,383		77.5	%	—		—	%
Other	1,500		6.3	%	1,500		22.7	%
Total other investments	$	23,716	100.0	%	$	6,600	100.0	%

4. Investments (continued)

The Company has a remaining unfunded commitment on its investment in limited partnerships of approximately $414 at December 31, 2018 (2017 - $306). The Company also has a remaining unfunded commitment on its investment in special purpose vehicles focused on lending activities of approximately $7,359 at December 31, 2018. There were no such commitments outstanding at December 31, 2017.

c) Net Investment Income

Net investment income was derived from the following sources:



For the Year Ended December 31,	2018			2017			2016
Fixed maturities	$	130,333		$	124,415		$	109,808
Cash and cash equivalents	2,123			1,973			1,628
Loan to related party	6,442			3,447			2,360
Other	1,736			1,833			1,818
	140,634			131,668			115,614
Investment expenses	(4,349		)	(7,533		)	(6,925		)
Net investment income	$	136,285		$	124,135		$	108,689

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 (losses) on investment included in the Consolidated Statements of Income:



For the Year Ended December 31, 2018	Gross gains		Gross losses			Net
AFS fixed maturities	$	9,314	$	(13,118	)	$	(3,804	)
Other investments	2,275		—			2,275
Net realized gains (losses) on investment	$	11,589	$	(13,118	)	$	(1,529	)



For the Year Ended December 31, 2017	Gross gains		Gross losses			Net
AFS fixed maturities	$	7,598	$	(1,254	)	$	6,344
Other investments	5,878		—			5,878
Net realized gains (losses) on investment	$	13,476	$	(1,254	)	$	12,222



For the Year Ended December 31, 2016	Gross gains		Gross losses			Net
AFS fixed maturities	$	7,140	$	(916	)	$	6,224
Other investments	550		—			550
Net realized gains (losses) on investment	$	7,690	$	(916	)	$	6,774

Proceeds from sales of AFS fixed maturities were $367,346, $164,957 and $69,007 for the years ended December 31, 2018, 2017 and 2016, respectively.

Net unrealized (losses) gains on investments, including those allocated to discontinued operations and classified as held for sale, were as follows:



December 31,	2018			2017			2016
Fixed maturities	$	(59,729	)	$	20,586		$	(23,635	)
Other investments	—			1,381			3,003
Total net unrealized (losses) gains	(59,729		)	21,967			(20,632		)
Deferred income tax	(33		)	(78		)	(84		)
Net unrealized (losses) gains, net of deferred income tax	$	(59,762	)	$	21,889		$	(20,716	)
Change, net of deferred income tax	$	(81,651	)	$	42,605		$	33,396

4. Investments (continued)

The portion of unrealized gains recognized in net income for the years ended December 31, 2018, 2017 and 2016, respectively, that are related to other investments still held at the end of the reporting period were as follows:



For the Year Ended December 31,	2018			2017			2016
Net gains recognized in net income on other investments during the year	$	2,275		$	5,878		$	550
Net realized gains recognized on other investments divested during the year	(2,777		)	(5,878		)	(550		)
Net unrealized losses recognized on other investments still held at end of year	$	(502	)	$	—		$	—

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. We also utilize trust accounts to collateralize business with our reinsurance counterparties. These trust accounts generally take the place of letter of credit requirements. 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,	2018		2017
Restricted cash – third party agreements	$	21,420	$	21,889
Restricted cash – related party agreements	108,728		73,016
Total restricted cash	130,148		94,905
Restricted investments – in trust for third party agreements at fair value (amortized cost: 2018 – $88,841; 2017 – $212,507)	89,596		211,331
Restricted investments AFS – in trust for related party agreements at fair value (amortized cost: 2018 – $2,860,403; 2017 – $2,281,668)	2,806,203		2,294,367
Restricted investments HTM – in trust for related party agreements at fair value (amortized cost: 2018 – $1,015,681; 2017 – $1,097,801)	998,012		1,125,626
Total restricted investments	3,893,811		3,631,324
Total restricted cash and investments	$	4,023,959	$	3,726,229

Fair Value Measurements

12 Months Ended

Dec. 31, 2018

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, 2018 and 2017.

U.S. government and U.S. agency — 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. 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. agency bonds are included in the Level 2 fair value hierarchy.

Non-U.S. government and supranational bonds — 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.

Asset-backed securities — These securities comprise CMBS and CLO originated by a variety of financial institutions that on acquisition are rated BBB-/Baa3 or higher. 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 and CLO are observable market inputs, the fair value of the CMBS and CLO securities are included in the Level 2 fair value hierarchy.

Corporate bonds — Bonds issued by corporations that on acquisition are rated BBB-/Baa3 or higher. These securities are generally priced by independent pricing services. 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.

Municipal bonds — 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 included in the Level 2 fair value hierarchy.

Other investments — Includes unquoted investments comprised of investments in limited partnerships and other investments which includes investments in special purpose vehicles focused on lending activities as well as investments in start-up insurance entities. 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. The fair value of these investments are measured using the NAV practical expedient and therefore have not been categorized within the fair value hierarchy. If there is a reporting lag between the current period end and reporting date of the latest available fund valuation, we estimate fair values by starting with the most recently available valuation and adjusting for return estimates as well as any subscriptions and distributions that took place during the current period. The fair value of the investments in special purpose vehicles focused on lending activities is initially at cost which approximates fair value. In subsequent measurement periods, the fair values of these investments are determined using an internally developed discounted cash flow model. As the significant inputs used to price these securities are unobservable, the fair value of these investments are classified as Level 3. The fair value of the remaining other investments, primarily start-up insurance entities, was determined using recent private market transactions and as such, the fair value is included in the Level 3 fair value hierarchy.

Cash and cash equivalents (including restricted amounts), accrued investment income, reinsurance balances receivable, and certain other assets and liabilities — The carrying values reported in the Consolidated Balance Sheets for these financial instruments approximate their fair value due to their short term nature and are classified as Level 2.

Loan to related party — The carrying value reported in the Consolidated Balance Sheets for this financial instrument approximates its fair value and it is included in the Level 2 hierarchy.

Senior notes — The amount reported in the Consolidated Balance Sheets for these financial instruments represents the carrying value of the notes. The fair values are based on indicative market pricing obtained from a third-party service provider and as such, are included in the Level 2 hierarchy.

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, 2018 and 2017, we classified our financial instruments measured at fair value on a recurring basis in the following valuation hierarchy:



December 31, 2018	Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)			Fair Value Based on NAV Practical Expedient			Total Fair Value
AFS fixed maturities
U.S. treasury bonds	$	139,072		$	—		$	—		$	—		$	139,072
U.S. agency bonds – mortgage-backed	—			1,453,134			—			—			1,453,134
U.S. agency bonds – other	—			129,233			—			—			129,233
Non-U.S. government and supranational bonds	—			10,072			—			—			10,072
Asset-backed securities	—			215,082			—			—			215,082
Corporate bonds	—			1,104,975			—			—			1,104,975
Other investments	—			—			19,883			3,833			23,716
Total	$	139,072		$	2,912,496		$	19,883		$	3,833		$	3,075,284
As a percentage of total assets	2.6		%	55.1		%	0.4		%	0.1		%	58.2		%



December 31, 2017	Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)			Fair Value Based on NAV Practical Expedient			Total Fair Value
AFS fixed maturities
U.S. treasury bonds	$	35,097		$	—		$	—		$	—		$	35,097
U.S. agency bonds – mortgage-backed	—			1,468,140			—			—			1,468,140
U.S. agency bonds – other	—			19,719			—			—			19,719
Non-U.S. government and supranational bonds	—			30,898			—			—			30,898
Asset-backed securities	—			228,393			—			—			228,393
Corporate bonds	—			925,269			—			—			925,269
Other investments	—			—			1,500			5,100			6,600
Total	$	35,097		$	2,672,419		$	1,500		$	5,100		$	2,714,116
As a percentage of total assets	0.5		%	40.2		%	—		%	0.1		%	40.8		%

The Company utilizes a Pricing Service to assist in determining the fair value of our fixed maturity investments; however, management is ultimately responsible for all fair values presented in the Company’s financial statements. This includes responsibility for monitoring the fair value process, ensuring objective and reliable valuation practices and pricing of assets and liabilities and pricing sources. The Company analyzes and reviews the information and prices received from the Pricing Service to ensure that the prices represent a reasonable estimate of the fair value.

The Pricing Service was utilized to estimate fair value measurements for approximately 99.9% and 99.8% of our fixed maturities at December 31, 2018 and 2017, 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 actively 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, 2018 and 2017, 0.1% and 0.2%, respectively, of the fixed maturities are valued using the market approach. At December 31, 2018, one security or approximately $5,676 of Level 2 fixed maturities, was priced using a quotation from a broker and/or custodian as opposed to the Pricing Service due to lack of information available. At December 31, 2017, three securities or approximately $9,489 of Level 2 fixed maturities, were priced using a quotation from a broker and/or custodian as opposed to the Pricing Service due to lack of information available. At December 31, 2018 and 2017, we have not adjusted any pricing provided to us based on the review performed by our investment managers. There were no transfers between Level 1 and Level 2 and there were no transfers to or from Level 3 during the periods represented by these Consolidated Financial Statements.

5. Fair Value Measurements (continued)

c) Level 3 Financial Instruments

At December 31, 2018, the Company has other investments of $19,883 (December 31, 2017 - $1,500) which includes investments in special purpose vehicles focused on lending activities as well as investments in start-up insurance entities. The fair value of the investments in special purpose vehicles focused on lending activities is initially at cost which approximates fair value. In subsequent measurement periods, the fair values of these investments are determined using an internally developed discounted cash flow model. The fair value of investments in start-up insurance entities 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 each of these other investments as Level 3. During the years ended December 31, 2018 and 2017, there were no transfers into or out of Level 3.

d) Financial Instruments not measured at Fair Value

The following table presents the fair value and carrying value of the financial instruments not measured at fair value:



	December 31, 2018				December 31, 2017
	Carrying Value		Fair Value		Carrying Value		Fair Value
Financial Assets
HTM – corporate bonds	$	957,845	$	940,727	$	1,037,464	$	1,065,245
HTM - municipal bonds	57,836		57,285		60,337		60,381
Total financial assets	$	1,015,681	$	998,012	$	1,097,801	$	1,125,626

Financial Liabilities
Senior Notes - MHLA – 6.625%	$	110,000	$	75,240	$	110,000	$	101,200
Senior Notes - MHNC – 7.75%	152,500		143,960		152,500		149,029
Total financial liabilities	$	262,500	$	219,200	$	262,500	$	250,229

- 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

Discontinued Operations

12 Months Ended

Dec. 31, 2018

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

Sale of U.S. Treaty Reinsurance operations

As described in "Note 1. Organization", the Company entered into a Renewal Rights transaction with TransRe on August 29, 2018. The Company continued to earn premiums and remain liable for losses occurring subsequent to August 29, 2018 for any policies in force prior to and as of August 29, 2018, through December 27, 2018, the date the sale of Maiden US was closed pursuant to the US MTA with Enstar.

Maiden US was a substantial portion of our Diversified Reinsurance segment, therefore, the Company concluded that the sale represents a strategic shift that will have a major effect on its ongoing operations and financial results and that all of the held for sale criteria have been met. Accordingly, all transactions related to the U.S. treaty reinsurance operations are reported and presented as part of discontinued operations. Accordingly, all of the assets and liabilities related to the sale of the U.S. treaty reinsurance operations are removed from the Consolidated Balance Sheets of the Company and any remaining assets and liabilities related to the retrocession agreement and true up of sale consideration, are classified as held for sale in the Consolidated Balance Sheets as at December 31, 2018. All of the assets and liabilities related to the U.S. treaty reinsurance operations were reclassified as held for sale as at December 31, 2017. The operations of the Company's U.S. treaty reinsurance business up to the date of sale have been reported as part of loss from discontinued operations in the Consolidated Statements of Income for the year ended December 31, 2018. The operations of the Company's U.S. treaty reinsurance business for the years ended December 31, 2017 and 2016 have been reclassified as part of loss from discontinued operations in the Consolidated Statements of Income.

The Company estimated the fair value of the net assets held for sale to be based on the estimated selling price less costs to sell and was classified as Level 2 within the fair value hierarchy as of December 31, 2018. The following table summarizes the components of assets and liabilities classified as held for sale on the Company's Consolidated Balance Sheet as at December 31, 2018 and 2017:

6. Discontinued Operations (continued)



	2018		2017
ASSETS
Fixed maturities, available-for-sale, at fair value	$	63,560	$	1,336,854
Cash and cash equivalents	—		13,449
Restricted cash and cash equivalents	6,113		28,679
Accrued investment income	—		6,195
Reinsurance balances receivable, net	689		272,549
Reinsurance recoverable on unpaid losses	70,158		92,728
Deferred commission and other acquisition expenses	—		59,393
Goodwill and intangible assets, net	—		75,583
Other assets	33,955		16,388
Total assets held for sale	$	174,475	$	1,901,818
LIABILITIES
Reserve for loss and loss adjustment expenses	$	76,521	$	1,160,526
Unearned premiums	—		246,156
Accrued expenses and other liabilities	79,440		42,726
Total liabilities held for sale	$	155,961	$	1,449,408

As discussed in "Note 1. Organization", on December 27, 2018, Cavello, Enstar's Bermuda reinsurance affiliate, and Maiden Bermuda entered into a retrocession agreement pursuant to which certain assets and liabilities associated with the Motors Insurance business held by Maiden Bermuda were retroceded to Cavello in exchange for a ceding commission. The balance of reinsurance recoverable on unpaid losses due from Cavello under this retrocession agreement at December 31, 2018 was $70,158 which is presented as part of the assets held for sale above and in the Consolidated Balance Sheet. Enstar has credit ratings from both Standard & Poor's and Fitch Ratings of BBB at December 31, 2018.

The following table summarizes the major classes of line items constituting the net loss from discontinued operations for the years ended December 31, 2018, 2017 and 2016:



For the Year Ended December 31,	2018			2017			2016
Gross premiums written	$	493,862		$	737,960		$	742,319
Net premiums written	$	479,577		$	724,611		$	687,281
Net premiums earned	$	618,265		$	740,120		$	642,562
Net investment income	39,265			42,210			37,203
Net loss and loss adjustment expenses	(474,711		)	(604,578		)	(530,394		)
Commission and other acquisition expenses	(142,946		)	(176,961		)	(158,141		)
General and administrative expenses	(26,739		)	(17,556		)	(16,730		)
Amortization of intangible assets	(1,387		)	(2,132		)	(2,461		)
Impairment of goodwill	—			—			(1,800		)
Income (loss) from discontinued operations	11,747			(18,897		)	(29,761		)
Loss on disposal of discontinued operations	(113,294		)	—			—
Loss from discontinued operations before income taxes	(101,547		)	(18,897		)	(29,761		)
Income tax benefit (expense)	7,434			(3,199		)	(1,161		)
Net loss from discontinued operations, after income taxes	$	(94,113	)	$	(22,096	)	$	(30,922	)

The loss on disposal of discontinued operations for the year ended December 31, 2018 primarily includes the impairment of goodwill and intangible assets of $74,196 that was recognized due to the sale of Maiden US, net of the payment received for the sale of the Renewal Rights of $7,500. Please refer to "Note 7. Goodwill and Intangible Assets" for additional information regarding the Company's impairment of goodwill and intangible assets that was recognized during the year ended December 31, 2018.

Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

The goodwill and intangible assets historically recognized by the Company had been assigned to our Diversified Reinsurance segment. Please refer to "Note 6. Discontinued Operations" for further details regarding the impairment of these assets. The following table shows the change in the carrying value of goodwill and intangible assets previously held by the Company:



	Goodwill			Intangible Assets			Total
December 31, 2016	$	57,192		$	20,523		$	77,715
Amortization	—			(2,132		)	(2,132		)
December 31, 2017	$	57,192		$	18,391		$	75,583
Amortization	—			(1,387		)	(1,387		)
Impairment losses	(57,192		)	(17,004		)	(74,196		)
December 31, 2018	$	—		$	—		$	—

The goodwill and intangible assets are subject to annual impairment testing on October 1 or when “triggering events” occur or circumstances change that could potentially reduce the fair value of a reporting unit below its carrying amount. Goodwill is considered impaired if the carrying amount of the reporting unit exceeds the fair value. The sale of our U.S. treaty reinsurance operations resulted in a triggering event and consequently during the year ended December 31, 2018, the Company has written off the remaining balance of goodwill and intangible assets. The goodwill and intangible assets were deemed to be permanently impaired due to the sale of the U.S. treaty reinsurance operations. The Company recognized an impairment loss of $74,196 as a result of these dispositions, which is presented in the Consolidated Statements of Income as part of the loss from discontinued operations for the year ended December 31, 2018 (2017 - $0, 2016 - $1,800).

The following tables show the analysis of goodwill and intangible assets that are included in the balance sheet as a component of assets held for sale at December 31, 2017:



December 31, 2017	Gross		Accumulated Amortization			Accumulated Impairment			Net		Useful Life
Goodwill	$	58,992	$	—		$	(1,800	)	$	57,192	Indefinite
State licenses	4,527		—			—			4,527		Indefinite
Customer relationships	51,400		(37,536		)	—			13,864		15 years double declining
Net balance	$	114,919	$	(37,536	)	$	(1,800	)	$	75,583

Reinsurance

12 Months Ended

Dec. 31, 2018

Reinsurance Disclosures [Abstract]

Reinsurance

We use reinsurance and retrocessional agreements ("ceded reinsurance") to mitigate volatility, reduce our exposure to certain risks and to provide capital support. Additionally, starting in 2015, Maiden Bermuda entered into a number of retrocessional quota share agreements with a highly rated global insurer to cede certain lines of business from both of our reportable segments. Effective July 1, 2018, Maiden Bermuda commuted all of these retrocessional quota share agreements.

Each of these agreements provide for recovery from reinsurers or retrocessionaires of a portion of loss and LAE under certain circumstances without relieving the Company of its obligations to the policyholders. The Company remains liable to the extent that any of our reinsurers or retrocessionaires fails to meet their obligations. Loss and LAE incurred and premiums earned are reported after deduction for reinsurance and retrocession. In the event that one or more of our reinsurers or retrocessionaires are unable to meet their obligations under these reinsurance or retrocessional agreements, the Company would not realize the full value of the reinsurance recoverable balances.

The effect of ceded reinsurance on net premiums written and earned and on net loss and LAE for the years ended December 31, 2018, 2017 and 2016 was as follows:



For the Year Ended December 31,	2018			2017			2016
Premiums written
Direct	$	11,024		$	5,765		$	8,045
Assumed	2,006,774			2,072,326			2,080,984
Ceded	(3,201		)	(40,714		)	(121,358		)
Net	$	2,014,597		$	2,037,377		$	1,967,671
Premiums earned
Direct	$	10,733		$	6,579		$	9,766
Assumed	2,032,161			2,048,434			2,006,997
Ceded	(16,692		)	(62,354		)	(91,175		)
Net	$	2,026,202		$	1,992,659		$	1,925,588
Loss and LAE
Gross loss and LAE	$	1,885,232		$	1,601,011		$	1,349,739
Loss and LAE ceded	(5,111		)	(45,578		)	(60,227		)
Net	$	1,880,121		$	1,555,433		$	1,289,512

The Company's reinsurance recoverable on unpaid losses balance at December 31, 2018 was $1,743 (2017 - $24,883) presented as part of other assets in the Consolidated Balance Sheets. At December 31, 2018, 96.2% (2017 - 99.5%) of the reinsurance recoverable on unpaid losses was due from reinsurers and retrocessionaires with credit ratings from A.M Best of A+ or better. At December 31, 2018 and 2017, the Company had no valuation allowance against reinsurance recoverable on unpaid losses.

See "Note 18. Subsequent Events" for discussion relating to loss portfolio transfer and adverse development cover entered into by Maiden Bermuda and Enstar on March 1, 2019 affecting the quota share reinsurance agreements between Maiden Bermuda and AmTrust.

Reserve for Loss and Loss Adjustment Expenses

12 Months Ended

Dec. 31, 2018

Insurance [Abstract]

Reserve for Loss and Loss Adjustment Expenses

General

The Company uses both historical experience and industry-wide loss development factors to provide a reasonable basis for estimating future losses. In the future, certain events may be beyond the control of management, such as changes in law, judicial interpretations of law, and inflation, which 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 the 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.

The reserving process begins with the collection and analysis of paid losses and incurred claims data for each of our contracts. While reserves are reviewed on a contract by contract basis, paid losses and incurred claims data is also aggregated into reserving segments. The segmental data is disaggregated by reserving class and further disaggregated by either accident year (i.e. the year in which the loss event occurred) or by underwriting year (i.e. the year in which the contract generating the premium and losses incepted). The Company in some cases uses underwriting year information to analyze our Diversified Reinsurance segment and subsequently allocate reserves to the respective accident years. Our reserve for loss and LAE comprises:



December 31,	2018		2017
Reserve for reported loss and LAE	$	1,571,217	$	1,393,560
Reserve for losses incurred but not reported ("IBNR")	1,484,759		993,162
Reserve for loss and LAE	$	3,055,976	$	2,386,722

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



For the Year Ended December 31,	2018			2017			2016
Gross loss and LAE reserves, January 1	$	2,386,722		$	1,845,407		$	1,521,364
Less: reinsurance recoverable on unpaid losses, January 1	24,883			35,948			18,279
Net loss and LAE reserves, January 1	2,361,839			1,809,459			1,503,085
Net incurred losses related to:
Current year	1,431,484			1,271,860			1,158,435
Prior years	448,637			283,573			131,077
	1,880,121			1,555,433			1,289,512
Net paid losses related to:
Current year	(440,315		)	(406,883		)	(274,358		)
Prior years	(723,451		)	(651,608		)	(684,172		)
	(1,163,766		)	(1,058,491		)	(958,530		)
Effect of foreign exchange rate movements	(23,961		)	55,438			(24,608		)
Net loss and LAE reserves, December 31	3,054,233			2,361,839			1,809,459
Reinsurance recoverable on unpaid losses, December 31	1,743			24,883			35,948
Gross loss and LAE reserves, December 31	$	3,055,976		$	2,386,722		$	1,845,407

Commencing in 2015, Maiden Bermuda entered into a number of retrocessional quota share agreements with a highly rated global insurer to cede certain lines of business from both of our reportable segments. Effective July 1, 2018, Maiden Bermuda commuted all of these retrocessional quota share agreements.

Actuarial Methods Used to Estimate Loss and Loss Adjustment Expense Reserves

The Company utilizes a variety of standard actuarial methods in its analysis of loss reserves. The selections from these various methods are based on the loss development characteristics of the specific line of business and significant actuarial judgment. The actuarial methods the Company utilizes include:

The Expected Loss Ratio ("ELR") method is a technique that multiplicatively applies an expected loss ratio to premium earned to yield estimated ultimate losses. The ELR assumption is generally derived from pricing information and historical experience of the business. This method is frequently used for the purpose of stability in the early valuations of an underwriting year with large and uncertain loss development factors. This technique does not take into account actual loss emergence for the underwriting

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

year being projected. As an underwriting year matures and actual loss experience becomes more credible, other methods may be applied in determining the estimated ultimate losses.

The Loss Development ("LD") method is a reserving method in which ultimate losses are estimated by applying a loss development factor to actual reported (or paid) loss experience. This method fully utilizes actual experience. Multiplication of underwriting year actual reported (or paid) losses by its respective development factor produces the estimated ultimate losses. The LD method is based upon the assumption that the relative change in a given underwriting year’s losses from one evaluation point to the next is similar to the relative change in prior underwriting years’ losses at similar evaluation points. In addition, this method is based on the assumption that the reserving and payment patterns as well as the claim handling procedures have not changed substantially over time. In the case where changes to the payment patterns or the claim handling procedures are identified, historical losses are adjusted to the current basis, and development factors are selected based on the relative change of the adjusted losses (the Berquist Sherman method is one example of this approach). When a company has a sufficiently reliable loss development history, a development pattern based on the company’s historical indications may be used to develop losses to ultimate values.

The Bornhuetter-Ferguson ("BF") reserving technique is used for long-tailed or lower frequency, more volatile lines. It is also useful in situations where the reported loss experience is relatively immature and/or lacks sufficient credibility for the application of methods that are more heavily reliant on emerged experience. The BF method is an additive IBNR method that combines the ELR and LD techniques by splitting the expected loss into two pieces - expected reported (or paid) losses and expected unreported (or unpaid) losses. Expected unreported (unpaid) losses, estimated by the use of loss development factors, are added to the current actual reported (or paid) losses to produce an estimate of ultimate losses by underwriting year. The BF method introduces an element of stability that moderates the impact of inconsistent changes in paid and reported losses.

The average frequency and severity ("FS") reserving technique is used for lines where claim count is available, and the estimate of loss development factors is more difficult due to volatility in historical data. The available data for such lines is usually more volatile in the estimation of future losses using the LD and BF reserving methods. The FS method uses historical data to estimate the average number of ultimate claims (frequency) and the average costs of closed claims (severity). The estimate of ultimate losses by underwriting year is the result of the multiplication of the ultimate number of claims and the average cost of a claim.

With the guidance of the methods above, actuarial judgment is applied in the determination of ultimate losses. In general, the Company’s segments have varying levels of seasoning with which the Company has direct experience and as a result, differing methods are utilized to estimate loss and LAE reserves in each segment.

In the Diversified Reinsurance segment, the Company utilizes the ELR approach at the onset of reserving an account, the BF method for business with less but maturing loss experience, and as the experience matures the LD method. For proportional or pro-rata business, the Company typically relies heavily on the actual historical contract experience to estimate reserving parameters such as loss development factors, whereas for excess of loss business there will be more usage of industry and/or Company benchmark assumptions.

The Company has underwritten the AmTrust Reinsurance segment since July 1, 2007. A large proportion of the exposure in the underlying book of business has significant seasoning, and allows for a significant amount of credibility in using parameters derived from historical experience to calculate reserve estimates. Some segments of the book are a result of recent acquisitions or newer markets for AmTrust. These segments require a greater level of assumptions and professional judgment in deriving ultimate losses, which inherently implies a wider range of reasonable estimates. As a result, we have tended to rely on a weighted approach which primarily employs the LD method for aspects of the segment with ample historical data, while also considering the ELR or BF method for exposure resulting from recent acquisitions, or a relative business with a more limited level of experience. The FS method is also considered for segments of the AmTrust book of business for which claim count information is available. The Company’s actuarial analysis of this book of business is more refined in that it utilizes a combination of quarterly and annual data instead of contract period data in totality. Additional data detailing items such as class of business, state, claim counts, frequency and severity is available, further enhancing the reserve analysis.

Prior Year Development

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 management's best estimate of the ultimate losses under the relevant reinsurance policies after review of changes in actuarial assessments.

The following table summarizes the adverse prior period development experienced in each of our reportable segments for the years ended December 31, 2018, 2017, and 2016:



For the Year Ended	Diversified Reinsurance			AmTrust Reinsurance			Other			Total
December 31, 2018	$	(2,326	)	$	(399,200	)	$	(1,685	)	$	(403,211	)
December 31, 2017	(5,441		)	(239,896		)	(1,838		)	(247,175		)
December 31, 2016	(11,082		)	(54,000		)	(11,887		)	(76,969		)

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

During 2018, the Company increased incurred losses for 2017 and prior accident years by $448,637 or 19.0% of prior year net loss and LAE reserves compared to $283,573 or 15.7% in 2017 and $131,077 or 8.7% in 2016. The $403,211 of net adverse development was primarily driven by $399,200 of adverse development in the AmTrust Reinsurance segment combined with an insignificant amount of net adverse development of $2,326 in the Diversified Reinsurance segment and net adverse development of $1,685 within the Other category. In addition, some premium for prior accident years is reported to us in subsequent periods. This leads to increases in the provision for loss and LAE in prior years during current periods, which is not considered adverse development. During 2018, incurred losses in the AmTrust segment increased $45,426 (2017 - $37,212) associated with $75,359 (2017 - $57,026) of premiums earned reported during 2018 attributable to 2017 and prior accident years.

In the Diversified Reinsurance segment, the adverse prior year development was $2,326 for the year ended December 31, 2018 (2017 -$5,441, 2016 - $11,082) primarily due to adverse development in the European Capital Solutions business as well as in the facultative reinsurance run-off partially offset by favorable development in International Auto. The adverse development in 2017 and 2016 was primarily from the facultative reinsurance run-off and development in International Auto.

In the AmTrust Reinsurance segment, the adverse prior year development was $399,200 for the year ended December 31, 2018 (2017 - $239,896, 2016 - $54,000) largely from Workers' Compensation of $151,269 which represented nearly half of the adverse development, primarily driven by accident years 2014 to 2016, due to a higher expectation of loss development at later maturities as well as adverse development in European Hospital Liability of $95,794, driven by underwriting years 2011 to 2013, General Liability of $78,317, driven by accident years 2013 to 2017, and Commercial Auto liability of $76,207, primarily from accident years 2015 to 2017. The adverse loss development in European hospital liability was partly caused by the failure of the Italian government to implement a law passed in April 2017 which was expected to reduce medical malpractice costs, and also by a reduced expectation with regards to the ultimate amount of no-payment claims.

The development in 2017 for the AmTrust Reinsurance segment was largely related to Workers' Compensation, in Small Commercial Business, driven by accident years 2012 and subsequent, of $126,603; General Liability of $90,784; and, to a lesser extent, Commercial Auto Liability of $19,877, predominantly in accident years 2012 and subsequent, as a result of industry-wide trends including increasing claim severity and claim frequency. The loss development observed was in part attributable to staffing and other claims operation changes in the cedant's claims department which have distorted historical loss patterns. In 2016, the adverse development largely came from program commercial auto as well as program general liability.

Our Other category also incurred adverse prior year development of $1,685 for the year ended December 31, 2018 (2017 - $1,838, 2016 - $11,887) due to increased reserves in the run-off of the NGHC Quota Share.


a)	Claims Development

The following is a summary of the Company's incurred losses and paid losses development by accident year, net of reinsurance, from the last eight calendar years including the total reserve for losses, IBNR, plus development on reported loss and LAE for both of our reportable segments, Diversified Reinsurance and AmTrust Reinsurance, as of December 31, 2018. Information prior to 2018 is included as unaudited supplementary information. Only eight years of information has been presented as it was impractical to obtain the sufficiently detailed additional information on those earlier years. The incurred and paid amounts have been translated from the local currency to U.S. dollars using the December 31, 2018 spot rate for all years presented in the table below in order to isolate changes in foreign exchange rates from loss development. Information regarding our Other category has not been presented in the development tables below but is included in the reconciliation, as these losses include amounts from our former NGHC Quota Share segment which is in run-off and related IBNR amounts are not currently material. As a reinsurer of primarily quota share contracts, claim counts are available on a very limited basis. Therefore claim counts have not been provided in the tables below as it is impractical to do so.

The Diversified Reinsurance segment incurred losses and paid losses are analyzed by the following lines of business: (1) International; and (2) European Capital Solutions. The AmTrust Reinsurance segment incurred losses and paid losses are analyzed by the following lines of business: (1) Workers’ Compensation; (2) Commercial Auto Liability; (3) General Liability; (4) European Hospital Liability; and (5) All Other Lines. There are a number of factors to consider when evaluating the information in these tables:

•

In the Diversified Reinsurance segment, contracts are written on both an accident year and underwriting year basis, many are multi-line and the majority of the premium is associated with proportional contracts. Many proportional treaty reinsurance contracts are submitted using quarterly bordereau reporting by underwriting year. However, the remaining losses can generally only be allocated to accident years based on estimated premium earning and loss reporting patterns. Further estimates are required to allocate losses to line of business. Multi-line accounts are generally analyzed on an individual basis by line of business, but are booked in the Company’s records to a contract, rather than to each individual line of business within a contract. For the purpose of this disclosure allocations are made to the various lines of business. Management’s assumptions and allocation procedures for these tables may produce results that differ from the actual loss emergence reported by line of business each quarter;

•

The AmTrust Reinsurance segment consists primarily of two contracts, the European Hospital Liability Quota Share and a much larger quota share that includes all other covered business, the AmTrust Quota Share. There is also a small amount of excess of loss business that has not been written since 2009 which is included as a reconciling item. Maiden receives several cession statements and uses these to report premiums in three categories - Small Business Commercial, Specialty Program and Specialty Risk and Extended Warranty in Note 3. Segment Information. The tables provided include allocations of IBNR reserves to line of business by accident year. Management’s assumptions and allocation procedures

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

for these tables may produce results that differ from the actual loss emergence reported by line of business each quarter; and


•	For both segments, the premium and exposure for prior accident years is often reported to us in subsequent periods, as reporting lags exist from an insurer to a reinsurer. This leads to increases in the provision for loss and LAE in prior years, but does not reduce expected income (and in many cases can result in additional income).

Diversified Reinsurance Segment

The following tables represents information on the Company's incurred losses and LAE and cumulative paid losses and LAE, both net of reinsurance, since 2011 for our Diversified Reinsurance segment. The development tables below included reserves acquired from the loss portfolio transfer agreement associated with the GMAC International Insurance Services ("IIS") business as at November 30, 2010 of $98,827. For the purposes of disclosure, the reserves from the loss portfolio transfer was allocated to the original accident year.

Many pro-rata contracts are big enough that specific company development patterns are used. The ELR from the pricing of the account is typically used for the first year or more until the data suggests an alternative result is likely. Use of the ELR method transitions to the BF and then the LD method. For smaller contracts, benchmark development patterns may be used in both the pricing to establish the ELR and the reserving. The use of benchmark patterns is more prevalent in excess of loss business and the movement to experience based methods is slower.

Diversified Reinsurance - International

The international business written by our IIS team is mainly proportional treaty business, a significant portion of which is Personal Auto quota share but also comprises credit life quota share. Life and personal accident business is also written on a direct basis by Maiden LF. Maiden works with insurance partners, automobile manufacturers and their related credit providers and other organizations to design and implement insurance programs in both auto distribution-related and other consumer insurance products.

For the auto quota share exposure, our initial underwriting year loss projections are generally based on the ELR method, derived from account pricing analyses. Payment and reporting patterns are short-tailed, and the movement away from the ELR to BF or LD methods typically happens very rapidly. Credit life reserves are primarily a function of reporting lag, typically only one or several months on average. The reserves are calculated using a FS methodology, where the frequency is a function of the average claims lag and the average per claims severity.

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



Diversified Reinsurance - International	Incurred losses and loss adjustment expenses, net of reinsurance																At December 31, 2018
For the Year Ended December 31,	2011		2012		2013		2014		2015		2016		2017		2018		Total IBNR
Accident Year:	Unaudited		Unaudited		Unaudited		Unaudited		Unaudited		Unaudited		Unaudited
2010	$	80,309	$	79,698	$	79,623	$	79,440	$	77,749	$	79,872	$	81,917	$	81,610	$	(950	)
2011	50,633		49,231		49,239		49,443		49,397		49,221		49,611		49,857		(52		)
2012			51,171		49,440		49,751		49,873		49,941		50,196		49,915		32
2013					45,565		50,843		52,223		51,760		52,366		52,586		(84		)
2014							42,993		48,917		48,839		48,758		48,531		192
2015									43,329		44,751		45,274		44,711		(689		)
2016											39,081		41,003		40,341		(235		)
2017													37,327		36,779		2,904
2018															45,049		16,451
Total															$	449,379	$	17,569
	Cumulative paid losses and LAE, net of reinsurance
For the Year Ended December 31,	2011		2012		2013		2014		2015		2016		2017		2018
Accident Year:	Unaudited		Unaudited		Unaudited		Unaudited		Unaudited		Unaudited		Unaudited
2010	$	34,632	$	43,597	$	48,397	$	50,206	$	51,840	$	53,390	$	54,921	$	56,603
2011	24,853		45,999		47,660		48,943		49,372		49,604		49,747		49,861
2012			24,061		41,099		43,554		44,677		45,010		45,577		45,691
2013					24,653		44,322		46,873		48,240		48,708		48,923
2014							24,037		42,577		44,886		46,128		46,385
2015									22,007		39,829		41,919		42,951
2016											22,739		36,963		38,793
2017													19,345		33,765
2018															20,824
Total															383,796
Total net reserves															$	65,583

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

Diversified Reinsurance - European Capital Solutions

The European Capital Solutions business is mainly a portfolio of assumed reinsurance in Europe which is now in run-off. Maiden Bermuda began writing treaty reinsurance contracts under this initiative in 2016 therefore only three calendar years of the Company's incurred losses and paid losses development by accident year have been provided in the tables below.



Diversified Reinsurance - European Capital Solutions	Incurred losses and loss adjustment expenses, net of reinsurance						At December 31, 2018
For the Year Ended December 31,	2016		2017		2018		Total IBNR
Accident Year:	Unaudited		Unaudited
2016	$	4,921	$	4,996	$	5,381	$	452
2017			8,732		10,054		2,832
2018					22,119		11,096
Total					$	37,554	$	14,380
	Cumulative paid losses and LAE, net of reinsurance
For the Year Ended December 31,	2016		2017		2018
Accident Year:	Unaudited		Unaudited
2016	$	798	$	2,372	$	3,357
2017			1,963		4,114
2018					3,241
Total					10,712
Total net reserves					$	26,842

The following tables represent information on the Company's incurred losses and LAE and cumulative paid losses and LAE, both net of reinsurance, by significant line of business since 2011 for our AmTrust Reinsurance segment. All data shown for the AmTrust in the tables that follow are from the Company’s quota share contracts with AmTrust, both the multi-year AmTrust Quota Share and the annually renewable European Hospital Liability Quota Share. AmTrust purchases significant reinsurance for losses above $10 million covered by the AmTrust Quota Share. The Company’s share of AmTrust’s losses net of reinsurance in the AmTrust Quota Share is generally 40%. Additionally, for the Specialty Program portion of Covered Business only, AmTrust 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 has reinsured losses at its proportional 40% share per the AmTrust Quota Share.

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

AmTrust Reinsurance: Workers’ Compensation

This reserve class consists of the Workers’ Compensation portion of the AmTrust Quota Share. The business is written in the U.S. by AmTrust from both their Small Commercial Business and Specialty Program business units. The Small Commercial Business unit focuses on writing smaller, niche workers' compensation exposures in generally low-hazard occupations. Workers’ Compensation business written in the Specialty Program unit is typically part of programs consisting of multiple lines of business. The business is produced by managing general agents with AmTrust regularly adding new programs and terminating or renegotiating unprofitable ones. Our initial underwriting year loss projections are generally based on the ELR method, derived from historical performance after the consideration of loss and premium trends. Since it is proportional exposure, and due to the size and the classes of business insured by AmTrust, this reserving class is much shorter tailed than a traditional workers compensation book, and the transition to the BF and the LD methods happens relatively quickly, within the first several years.



AmTrust Reinsurance Workers' Compensation	Incurred losses and loss adjustment expenses, net of reinsurance																At December 31, 2018
For the Year Ended December 31,	2011		2012		2013		2014		2015		2016		2017		2018		Total IBNR
Accident Year:	Unaudited		Unaudited		Unaudited		Unaudited		Unaudited		Unaudited		Unaudited
2008	$	80,800	$	81,493	$	82,438	$	81,240	$	82,301	$	83,039	$	83,622	$	84,710	$	852
2009	102,240		102,245		103,864		109,213		106,204		105,901		107,165		110,175		2,671
2010	106,799		113,880		118,209		120,243		125,020		124,073		123,968		127,215		4,538
2011	104,923		125,549		130,712		132,728		133,995		133,916		135,379		138,600		5,898
2012			136,960		168,016		173,946		171,040		172,692		181,616		192,087		12,904
2013					237,019		245,765		238,392		242,447		261,915		276,249		24,268
2014							379,589		365,515		382,260		419,748		457,363		47,331
2015									474,140		474,212		526,269		551,145		67,629
2016											528,906		568,006		627,728		113,373
2017													615,957		654,362		189,557
2018															592,566		264,984
Total															$	3,812,200	$	734,005
	Cumulative paid losses and LAE, net of reinsurance
For the Year Ended December 31,	2011		2012		2013		2014		2015		2016		2017		2018
Accident Year:	Unaudited		Unaudited		Unaudited		Unaudited		Unaudited		Unaudited		Unaudited
2008	$	68,400	$	72,823	$	76,018	$	77,370	$	78,161	$	79,230	$	81,159	$	82,436
2009	71,963		83,464		89,462		93,425		96,396		98,811		100,103		101,823
2010	61,322		82,614		95,120		103,280		108,171		114,639		115,014		115,959
2011	33,089		69,357		91,414		105,584		114,107		115,966		122,579		124,315
2012			45,030		88,382		119,059		138,706		150,543		158,807		164,512
2013					56,249		121,182		168,785		199,300		216,527		227,502
2014							69,512		189,954		268,467		321,258		355,414
2015									86,695		246,616		338,642		388,640
2016											110,051		284,501		380,602
2017													111,508		274,596
2018															110,954
Total															2,326,753
			All outstanding liabilities prior to 2008, net of reinsurance												1,340
Total net reserves															$	1,486,787

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

AmTrust Reinsurance: General Liability

This reserve class consists of the General Liability portion of the AmTrust Quota Share. The business is written in the U.S. by AmTrust from both their Small Commercial Business and Specialty Program business units. The Small Commercial Business unit focuses on writing smaller, niche business typically underserved by the broader insurance market, which typically have limits of $1,000. General Liability business written in the Small Commercial Business unit grew substantially following AmTrust’s renewal rights acquisition in 2014. Specialty Program business may contain a mix of exposures from retail operations, contractors, manufacturers, and other premises.

Our initial underwriting year loss projections are generally based on the ELR method, derived from historical performance after the consideration of loss and premium trends. This proportional exposure is medium tailed, and the IBNR is typically derived from the use of the initial ELR for the first several years following the earning of the exposure, followed by a transition to the BF and the LD methods.



AmTrust Reinsurance General Liability	Incurred losses and loss adjustment expenses, net of reinsurance																At December 31, 2018
For the Year Ended December 31,	2011		2012		2013		2014		2015		2016		2017		2018		Total IBNR
Accident Year:	Unaudited		Unaudited		Unaudited		Unaudited		Unaudited		Unaudited		Unaudited
2008	$	28,786	$	31,921	$	33,051	$	33,792	$	34,169	$	35,985	$	36,627	$	37,605	$	558
2009	19,311		28,384		29,123		30,902		32,418		34,040		34,863		35,138		512
2010	15,783		28,850		34,761		36,455		38,536		38,298		41,597		42,884		400
2011	11,334		24,731		35,628		40,557		42,100		45,303		49,338		52,746		85
2012			21,281		33,445		42,450		48,851		50,800		55,991		59,948		(373		)
2013					42,021		43,116		66,869		68,641		79,731		89,204		4,239
2014							65,469		66,558		77,930		99,873		111,970		10,930
2015									118,111		95,766		122,942		139,518		21,911
2016											98,149		114,864		120,911		30,371
2017													116,158		133,533		59,757
2018															121,991		87,555
Total															$	945,448	$	215,945

	Cumulative paid losses and LAE, net of reinsurance
For the Year Ended December 31,	2011		2012		2013		2014		2015		2016		2017		2018
Accident Year:	Unaudited		Unaudited		Unaudited		Unaudited		Unaudited		Unaudited		Unaudited
2008	$	20,935	$	26,288	$	29,384	$	32,849	$	32,423	$	32,765	$	34,935	$	36,699
2009	7,840		13,904		19,727		24,298		28,312		30,924		32,878		33,473
2010	5,140		11,187		19,010		26,429		30,948		34,125		37,317		39,214
2011	2,813		6,072		12,158		22,963		31,619		39,350		41,257		47,141
2012			5,084		13,224		18,020		29,752		40,864		45,775		53,526
2013					4,996		10,226		32,249		44,698		58,377		70,074
2014							3,503		24,581		36,026		57,678		77,259
2015									20,849		33,963		52,350		79,291
2016											6,402		21,959		45,855
2017													6,967		27,001
2018															7,907
Total															517,440
			All outstanding liabilities prior to 2008, net of reinsurance												96
Total net reserves															$	428,104

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

AmTrust Reinsurance: Commercial Auto Liability

Commercial Auto Liability is written in the U.S. and included in the Small Commercial Business and Specialty Program business units within the AmTrust Quota Share. The Small Commercial Business unit focuses on writing smaller, niche business typically underserved by the broader insurance market, and policies typically have limits of $1,000. Auto Liability business written in the Small Commercial Business unit grew substantially following AmTrust’s renewal rights acquisition in 2014. Commercial Auto Liability business written in the Specialty Program unit is typically part of programs consisting of multiple lines of business.

Our initial underwriting year loss projections are generally based on the ELR method, derived from historical performance after the consideration of loss and premium trends. This proportional exposure is relatively short tailed, and the transition to the BF and the LD methods happens relatively quickly, within the first several years.



AmTrust Reinsurance Commercial Auto Liability	Incurred losses and loss adjustment expenses, net of reinsurance																	At December 31, 2018
For the Year Ended December 31,	2011		2012		2013		2014		2015		2016		2017		2018			Total IBNR
Accident Year:	Unaudited		Unaudited		Unaudited		Unaudited		Unaudited		Unaudited		Unaudited
2008	$	29,890	$	32,769	$	33,700	$	34,522	$	34,584	$	35,975	$	35,521	$	35,382		$	(86	)
2009	22,183		26,275		28,551		30,812		31,024		30,468		30,919		31,033			522
2010	26,239		33,457		37,154		38,043		40,193		40,523		42,146		41,996			1,657
2011	16,193		24,292		29,577		32,578		33,839		34,790		36,149		36,065			2,122
2012			20,863		32,691		40,076		44,812		48,116		46,150		45,753			(159		)
2013					33,473		44,771		50,647		59,702		63,162		62,163			(86		)
2014							47,525		55,023		73,966		82,427		89,299			(195		)
2015									66,967		92,955		106,560		119,141			8,164
2016											121,828		118,210		144,077			19,594
2017													156,575		189,257			63,652
2018															177,150			104,045
Total															$	971,316		$	199,230

	Cumulative paid losses and LAE, net of reinsurance
For the Year Ended December 31,	2011		2012		2013		2014		2015		2016		2017		2018
Accident Year:	Unaudited		Unaudited		Unaudited		Unaudited		Unaudited		Unaudited		Unaudited
2008	$	25,207	$	29,386	$	30,975	$	32,643	$	33,536	$	34,074	$	34,803	$	35,284
2009	14,532		18,736		22,959		26,975		29,226		29,829		29,842		30,204
2010	14,203		21,050		28,602		34,855		37,734		39,413		39,750		40,282
2011	5,721		12,333		18,813		25,808		29,769		32,362		33,130		33,155
2012			6,693		14,979		26,508		35,460		43,745		44,165		45,555
2013					8,267		19,865		34,379		48,122		57,349		59,600
2014							8,450		22,858		42,960		64,459		79,766
2015									13,102		39,179		62,945		86,433
2016											19,071		48,595		76,635
2017													26,863		69,657
2018															30,018
Total															586,589
			All outstanding liabilities prior to 2008, net of reinsurance												(19		)
Total net reserves															$	384,708

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

AmTrust Reinsurance: European Hospital Liability

AmTrust entered this line of business in Italy in 2010 when it believed there were significant opportunities in what had traditionally been an under-performing market. European Hospital Liability policies are written on a claim made basis. Maiden wrote a separate annually renewable contract covering this exposure in 2011 which is not part of the AmTrust Quota Share. Currently, most exposure remains in Italy with a modest amount of exposure to other European nations. The European Hospital Liability Quota Share is a claims made exposure, and in many instances claims are eventually closed with no liability. This phenomena is estimated during the reserving process, and can result in a provision for pure IBNR (reserves for claims which have not yet been reported) which is minimal or negative. This estimate will vary as the exposure matures which could result in changes to the level of reserves. Also, severity for known claims and expenses can increase over time, which requires a provision for IBNR. The net result is a relatively small amount of IBNR.

Our initial underwriting year loss projections are generally based on the ELR method, derived from historical performance after the consideration of loss and premium trends. Loss reporting for this line is unique, as a large proportion of claims are initially reserved but eventually closed with no payment, as the insurer is found to have no liability after investigation of the fundamentals of the claim. In addition, the underlying insurance policies we assume are subject to deductibles on both a per claim and aggregate basis. For these reasons, the LD method is not typically employed in the estimate of loss. After the first several years, we utilize a FS methodology; frequency is estimated on a reported claim basis and adjusted for an estimate of the proportion of claims which will close with no payment, while severity is estimated on both a gross and net of deductible basis.



AmTrust Reinsurance European Hospital Liability	Incurred losses and loss adjustment expenses, net of reinsurance																At December 31, 2018
For the Year Ended December 31,	2011		2012		2013		2014		2015		2016		2017		2018		Total IBNR
Accident Year:	Unaudited		Unaudited		Unaudited		Unaudited		Unaudited		Unaudited		Unaudited
2011	$	50,395	$	23,539	$	36,438	$	50,344	$	47,888	$	65,940	$	63,939	$	61,308	$	(1,161	)
2012			80,912		82,465		81,665		104,716		93,673		88,696		114,627		4,749
2013					49,712		62,456		65,152		85,591		78,261		100,312		4,522
2014							51,720		54,462		58,335		64,909		81,846		5,846
2015									48,219		46,815		60,954		67,018		5,329
2016											45,146		51,973		68,023		8,942
2017													41,562		52,954		13,172
2018															45,244		21,425
Total															$	591,332	$	62,824

	Cumulative paid losses and LAE, net of reinsurance
For the Year Ended December 31,	2011		2012		2013		2014		2015		2016		2017		2018
Accident Year:	Unaudited		Unaudited		Unaudited		Unaudited		Unaudited		Unaudited		Unaudited
2011	$	1,113	$	4,408	$	13,005	$	23,865	$	29,193	$	36,272	$	41,966	$	46,220
2012			4,877		15,593		35,487		46,221		59,425		70,069		78,214
2013					3,030		15,243		26,225		40,015		50,302		56,372
2014							4,265		12,014		24,974		35,544		39,884
2015									3,522		11,200		23,124		29,511
2016											3,634		10,796		17,888
2017													1,297		4,479
2018															934
Total															273,502
Total net reserves															$	317,830

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

AmTrust Reinsurance: All Other Lines

This category includes all lines except Workers' Compensation, General Liability and Commercial Auto from the AmTrust Small Business Commercial and Specialty Program Divisions. The predominant exposures are property and auto physical damage.



AmTrust Reinsurance All Other Lines	Incurred losses and loss adjustment expenses, net of reinsurance																	At December 31, 2018
For the Year Ended December 31,	2011		2012		2013		2014		2015		2016		2017		2018			Total IBNR
Accident Year:	Unaudited		Unaudited		Unaudited		Unaudited		Unaudited		Unaudited		Unaudited
2008	$	27,630	$	28,724	$	28,715	$	29,149	$	29,237	$	29,070	$	29,576	$	29,574		$	58
2009	12,516		20,349		11,959		13,329		14,309		14,492		16,088		15,653			397
2010	14,440		15,182		24,718		15,484		16,078		16,105		17,071		17,059			1,213
2011	18,822		19,948		26,343		27,509		22,359		22,616		23,376		23,506			1,157
2012			14,697		18,443		19,426		21,898		18,673		19,850		20,260			1,961
2013					17,806		17,630		28,058		22,918		21,313		21,669			1,535
2014							20,597		25,268		26,021		24,958		26,278			341
2015									52,706		54,857		49,631		49,463			7,284
2016											79,654		74,948		72,384			6,203
2017													104,637		96,812			10,796
2018															96,910			10,431
Total															$	469,568		$	41,376

	Cumulative paid losses and LAE, net of reinsurance
For the Year Ended December 31,	2011		2012		2013		2014		2015		2016		2017		2018
Accident Year:	Unaudited		Unaudited		Unaudited		Unaudited		Unaudited		Unaudited		Unaudited
2008	$	25,776	$	29,710	$	29,900	$	31,217	$	29,388	$	29,177	$	30,833	$	30,683
2009	7,891		8,084		8,743		11,093		13,105		13,870		15,224		15,051
2010	12,373		12,332		13,012		15,375		15,748		16,058		16,919		16,786
2011	13,840		16,424		17,571		21,279		22,044		22,715		23,892		23,661
2012			10,308		14,031		16,033		16,936		17,946		18,205		18,685
2013					11,877		15,997		17,509		20,258		20,456		20,447
2014							12,028		20,277		20,940		22,018		26,194
2015									28,929		45,208		42,631		41,962
2016											42,795		69,805		65,452
2017													48,903		80,726
2018															56,539
Total															396,186
			All outstanding liabilities prior to 2008, net of reinsurance												(1		)
Total net reserves															$	73,381

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

Reconciliation of Development Tables to Consolidated Balance Sheet

The following table represents a reconciliation of the net incurred and paid claims development tables to the reserve for loss and LAE in the Consolidated Balance Sheet at December 31, 2018:



	December 31, 2018
	Total Net Reserves		Reinsurance Recoverables on unpaid claims		Total Gross Reserves
Diversified Reinsurance
International	$	65,583	$	1,743	$	67,326
European Capital Solutions	26,842		—		26,842
Other reconciling items	11,421		—		11,421
Total Diversified Reinsurance - Segment	103,846		1,743		105,589

AmTrust Reinsurance
Workers' Compensation	1,486,787		—		1,486,787
General Liability	428,104		—		428,104
Commercial Auto Liability	384,708		—		384,708
European Hospital Liability	317,830		—		317,830
All Other Lines	73,381		—		73,381
Total	2,690,810		—		2,690,810
Other reconciling items	256,737		—		256,737
Total AmTrust Reinsurance - Segment	2,947,547		—		2,947,547

Other	2,840		—		2,840
Total reserves and LAE	$	3,054,233	$	1,743	$	3,055,976


b)	Claims duration disclosure

The following unaudited supplementary information represents the average annual percentage payout of net loss and LAE by age, net of reinsurance, for both our reportable segments at December 31, 2018:



	Average annual payout of incurred claims by age, net of reinsurance
	Year 1		Year 2		Year 3		Year 4		Year 5		Year 6		Year 7		Year 8
Diversified Reinsurance
International	50.0	%	39.0	%	4.0	%	2.0	%	—	%	—	%	1.0	%	4.0	%
European Capital Solutions	16.1	%	26.0	%	20.4	%	—	%	—	%	—	%	—	%	—	%
AmTrust Reinsurance
Workers' Compensation	19.0	%	25.8	%	16.4	%	10.3	%	6.2	%	3.3	%	3.3	%	1.1	%
General Liability	6.8	%	11.7	%	14.5	%	18.3	%	16.6	%	11.1	%	8.5	%	7.2	%
Commercial Auto Liability	13.5	%	19.6	%	21.5	%	19.7	%	14.5	%	6.2	%	4.7	%	1.4	%
European Hospital Liability	3.7	%	9.2	%	14.4	%	12.7	%	8.9	%	9.0	%	8.2	%	6.9	%
All other lines	54.7	%	26.2	%	1.8	%	5.8	%	8.1	%	3.1	%	4.6	%	0.9	%

The average annual payout of incurred claims by age, net of reinsurance, is calculated using the amount of claims paid in each development year and is compared with the estimated incurred claims as of the most recent period presented.

Related Party Transactions

12 Months Ended

Dec. 31, 2018

Related Party Transactions

The Founding Shareholders of the Company are Michael Karfunkel, George Karfunkel and Barry Zyskind. Michael Karfunkel passed away on April 27, 2016. Based on each individual's most recent public filing, Leah Karfunkel (wife of Michael Karfunkel) owns or controls approximately 8.2% of the outstanding shares of the Company and Barry Zyskind (the Company's non-executive chairman) owns or controls approximately 7.7% of the outstanding shares of the Company. George Karfunkel owns or controls less than 5.0% of the outstanding shares of the Company based on his most recent public filings. Leah Karfunkel and George Karfunkel are directors of AmTrust, and Barry Zyskind is the president, chief executive officer and chairman of AmTrust. Leah Karfunkel, George Karfunkel and Barry Zyskind own or control approximately 53.9% of the ownership interests of Evergreen Parent GP, LLC, the ultimate parent of AmTrust. AmTrust owns 1.5% of the issued and outstanding shares of National General Holdings Corporation ("NGHC"), and Leah Karfunkel, individually, through a grantor retained annuity trust and through the Michael Karfunkel 2005 Family Trust (which is controlled by Leah Karfunkel) owns 39.4% of the outstanding common shares of NGHC. Barry Zyskind is a director of NGHC.

AmTrust

The following describes transactions between the Company and AmTrust:

AmTrust Quota Share

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 the AmTrust Quota Share by which 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 40% of losses. The Master Agreement further provided that AII receives a ceding commission of 31% of ceded premiums written. On June 11, 2008, Maiden Bermuda and AII amended the agreement to add Retail Commercial Package Business to the Covered Business. AII receives a ceding commission of 34.375% on Retail Commercial Package Business.

On July 1, 2016, the agreement was renewed through June 30, 2019. The agreement automatically renews for successive three-year periods thereafter unless AII or Maiden Bermuda elects to so terminate the AmTrust Quota Share by giving written notice to the other party not less than nine months prior to the expiration of any successive three-year period. 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. On August 8, 2018, the Company’s and AmTrust’s board of directors agreed to extend the renewal provision for the AmTrust Quota Share between Maiden Bermuda and AII. The new written notice date for renewal of the agreement was extended from September 30, 2018 to January 31, 2019.

Effective July 1, 2018, the amount AmTrust Europe Limited ("AEL") cedes to the Company was reduced to 20%. Additionally, for 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% ("Loss Corridor"). Above and below the Loss Corridor, Maiden Bermuda will continue to reinsure losses at its proportional 40% share of the AmTrust Quota Share.

On December 31, 2018, Maiden Bermuda and AII amended the AmTrust Quota Share that is currently in-force and set to expire on June 30, 2019. The amendment, which is effective January 1, 2019, provided for the cut-off of the ongoing and unearned premium of AmTrust’s Small Commercial Business, comprising workers’ compensation, general liability, umbrella liability, and professional liability (including cyber liability) insurance coverages, and U.S. Specialty Risk and Extended Warranty as of December 31, 2018, with the remainder of the AmTrust Quota Share remaining in place. The amendment resulted in Maiden Bermuda returning approximately $716,100 in unearned premium to AII, or approximately $480,000 after consideration of ceding commission and brokerage. Please see "Note 18. Subsequent Events" for further information regarding this amendment as well as the termination of the AmTrust Quota Share and other contracts entered into by Maiden Bermuda and AII in January 2019.

European Hospital Liability Quota Share

Effective April 1, 2011, Maiden Bermuda, entered into a quota share reinsurance contract with AEL and AmTrust International Underwriters DAC ("AIU DAC"), 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 (€10,000 effective January 1, 2012) or currency equivalent (on a 100% basis) per original claim for any one original policy. Maiden Bermuda will pay a ceding commission of 5%.

Effective July 1, 2016, the contract was amended such that Maiden Bermuda assumes from AEL 32.5% of the premiums and losses of all policies written or renewed on or after July 1, 2016 until June 30, 2017 and 20% of all policies written or renewed on or after July 1, 2017. Please see "Note 18. Subsequent Events" for information regarding the termination of this contract in January 2019.

10. Related Party Transactions (continued)

The table below shows the effect of both of these quota share arrangements with AmTrust on the Company's results of operations for the three years ended December 31, 2018, 2017 and 2016, respectively:



For the Year Ended December 31,	2018			2017			2016
Gross and net premiums written	$	1,886,280		$	1,993,478		$	2,006,646
Net premiums earned	1,928,208			1,969,907			1,931,656
Net loss and loss adjustment expenses	(1,810,667		)	(1,549,064		)	(1,287,035		)
Commission and other acquisition expenses	(622,495		)	(630,376		)	(614,882		)

Collateral provided to AmTrust

a) AmTrust Quota Share

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 AmTrust Quota Share 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, or (d) premiums withheld by an AmTrust subsidiary at Maiden Bermuda's request in lieu of remitting such premiums to AII. 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 AmTrust Quota Share with AII. Maiden Bermuda satisfied its collateral requirements under the AmTrust Quota Share with AII as follows:

•

by lending funds in the amount of $167,975 at December 31, 2018 and 2017 pursuant to a loan agreement entered into between those parties. Advances under the loan are secured by promissory notes. This loan was assigned by AII to AmTrust effective December 31, 2014 and is carried at cost. Effective December 18, 2017, interest is payable at a rate equivalent to the Federal Funds Effective Rate ("Fed Funds") plus 200 basis points per annum. Prior to that date, the interest was payable at a rate equivalent to one-month LIBOR plus 90 basis points per annum. See "Note 4. (c) Investments" for total amount of interest earned from this loan and see "Note 18. Subsequent Events" for information regarding the amendments in this loan agreement in January 2019; and

•

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, 2018 was approximately $3,650,418 (2017 - $3,328,757) and the accrued interest was $23,283 (2017 - $20,830). Please refer to "Note 4. (e) Investments" for additional information.

b) European Hospital Liability Quota Share

AEL requested that Maiden Bermuda provide collateral to secure its proportional share under the European Hospital Liability Quota Share. Please refer to "Note 4. (e) Investments" for additional information.

Brokerage Agreement

Effective July 1, 2007, the Company entered into a reinsurance brokerage agreement with AII Reinsurance Broker Ltd. ("AIIB"), a wholly owned subsidiary of AmTrust. Pursuant to the brokerage agreement, AIIB provides brokerage services relating to the AmTrust Quota Share and the European Hospital Liability Quota Share 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 approximately $24,103 of reinsurance brokerage expense for the year ended December 31, 2018 (2017 - $24,624, 2016 - $24,146), and deferred reinsurance brokerage of $14,199 at December 31, 2018 (2017 - $14,741) 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. Effective January 1, 2018, AIIM provides investment management services for a quarterly fee of 0.02125% of the average value of the account. Prior to that date, the fee was payable at a rate of 0.0375%. The agreement may be terminated upon 30 days written notice by either party. The Company recorded approximately $4,189 of investment management fees for the year ended December 31, 2018 (2017 - $7,474, 2016 - $6,925) as a result of this agreement.

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

10. Related Party Transactions (continued)

Regulations. For the year ended December 31, 2018, the Company recorded an expense of $69 (2017- $39, 2016 - $61) for the use of the aircraft.

NGHC Quota Share

Maiden Bermuda, effective March 1, 2010, had a 50% participation in the NGHC Quota Share, by which it received 25% of net premiums of the personal lines automobile business and assumed 25% of the related net losses. 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.

Long-Term Debt

12 Months Ended

Dec. 31, 2018

Debt Disclosure [Abstract]

Long-Term Debt

Senior Notes

At December 31, 2018, both Maiden Holdings and its wholly owned subsidiary, Maiden NA, have outstanding publicly-traded debt offering of senior notes which were issued in 2016 and 2013, respectively (the "Senior Notes"). The 2013 Senior Notes issued by Maiden NA are fully and unconditionally guaranteed by Maiden Holdings. The Senior Notes are unsecured and unsubordinated obligations of the Company.

The following table details the Company's Senior Notes issuances outstanding at December 31, 2018 and 2017:



December 31, 2018	2016 Senior Notes			2013 Senior Notes			Total
Principal amount	$	110,000		$	152,500		$	262,500
Less: unamortized issuance costs	3,610			4,196			7,806
Carrying value	$	106,390		$	148,304		$	254,694

December 31, 2017	2016 Senior Notes			2013 Senior Notes			Total
Principal amount	$	110,000		$	152,500		$	262,500
Less: unamortized issuance costs	3,654			4,364			8,018
Carrying value	$	106,346		$	148,136		$	254,482

Other details:
Original debt issuance costs	$	3,715		$	5,054
Maturity date	June 14, 2046			Dec 1, 2043
Earliest redeemable date (for cash)	June 14, 2021			June 1, 2019
Coupon rate	6.625		%	7.75		%
Effective interest rate	7.07		%	8.04		%

The interest expense incurred on the Senior Notes for the year ended December 31, 2018 was $19,106 (2017 - $22,996, 2016 - $27,827), of which $1,342 was accrued at both December 31, 2018 and 2017. The issuance costs related to the Senior Notes were capitalized and are being amortized over the life of the Senior Notes. The amount of amortization expense was $212 for the year ended December 31, 2018 (2017 - $264, 2016 - $346).

On June 27, 2017, the Company fully redeemed all of the 2012 Senior Notes using a portion of the proceeds from the Preference Shares - Series D issuance (see related discussion in "Note 14. Shareholders' Equity"). The 2012 Senior Notes were redeemed at a redemption price equal to 100% of the principal amount of $100,000 plus accrued and unpaid interest on the principal amount being redeemed up to, but not including, the redemption date. As a result, the Company accelerated the amortization of the remaining 2012 Senior Notes issuance cost of $2,809 for the year ended December 31, 2017.

The earliest redeemable date of the 2013 Senior Notes is June 1, 2019, since the Company did not redeem these senior notes on December 1, 2018, which was the five-year anniversary of the issuance of these notes. As long as the Company does not redeem the 2013 Senior Notes in subsequent quarters, the earliest redeemable date will continue to coincide with the interest payment dates of these Senior Notes.

Commitments, Contingencies and Concentrations

12 Months Ended

Dec. 31, 2018

Commitments and Contingencies Disclosure [Abstract]

Commitments, Contingencies and Concentrations

a) Concentrations of Credit Risk

At December 31, 2018 and 2017, the Company’s assets where significant concentrations of credit risk may exist include investments, cash and cash equivalents, loan to related party, reinsurance balances receivable and reinsurance recoverable on unpaid losses (presented as part of other assets in the Consolidated Balance Sheet). Please refer to "Note 8. Reinsurance" for additional information regarding the Company's credit risk exposure on its reinsurance counterparties.

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 as at December 31, 2018 will be fully collectible.

b) Concentrations of Revenue

During the year ended December 31, 2018, our gross premiums written from AmTrust accounted for $1,886,280 or 93.5% of our total gross premiums written (2017 – $1,993,478 or 95.9%, 2016 – $2,006,646 or 96.1%).

c) Brokers

We market our Diversified Reinsurance segment through a combination of third-party intermediaries as well as directly through our own marketing efforts. The majority of our business within the Diversified Reinsurance segment was marketed directly through our own efforts and therefore the reliance on brokers is not considered to be of significance for the years ended December 31, 2018, 2017 and 2016.

d) Letters of Credit

At December 31, 2018, we had letters of credit outstanding of $88,327 (2017 - $83,903). The letters of credit are for collateral purposes and are secured by cash and fixed maturities with a fair value of $111,134 at December 31, 2018 (2017 - $114,172).

e) Employment Agreements

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

f) Operating Lease Commitments

The Company leases office spaces, an executive apartment, office equipment and company vehicles under various operating leases expiring in various years through 2022. The Company's total lease cost for the year ended December 31, 2018 was $2,318 (2017 - $2,196, 2016 - $1,616). Estimated future minimum lease payments at December 31, 2018 under non-cancellable operating leases for the next four years are as follows:



	December 31, 2018
2019	$	1,442
2020	1,228
2021	772
2022	750
	$	4,192

g) Other Commitments

The Company has an unfunded commitment on its investment in limited partnerships of approximately $414 at December 31, 2018 (2017 - $306). The Company also has a remaining unfunded commitment on its investments in special purpose vehicles focused on lending activities of approximately $7,359 at December 31, 2018. There were no such commitments outstanding at December 31, 2017.

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.

12. Commitments and Contingencies (continued)

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 whistleblowing in violation of the whistleblower protection provisions of the Sarbanes-Oxley Act of 2002. Mr. Turin alleged that he was terminated for raising concerns regarding corporate governance with respect to the negotiation of the terms of the Trust Preferred Securities Offering. He 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. 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 the hearings concluded in November 2018. The Company believes that it had good and sufficient reasons for terminating Mr. Turin's employment and that the claim is without merit. The Company will continue to vigorously defend itself against this claim.

A putative class action complaint was filed against Maiden Holdings, Arturo M. Raschbaum, Karen L. Schmitt, and John M. Marshaleck in the United States District Court for the District of New Jersey on February 11, 2019, alleging that Defendants violated Section 10(b) of the Exchange Act and Rule 10b-5 (and Section 20(a) for control person liability) by making misrepresentations about the Company and its business, including the Company’s risk management and underwriting policies and practices. Plaintiffs further claim that these misrepresentations inflated the price of Maiden Holdings' common stock, and that when the truth about the misrepresentations was revealed, the Company’s stock price fell, causing Plaintiffs to incur losses. Maiden has not yet been served with the complaint, but believe the claims are without merit and intends to vigorously defend itself. There exist and the Company expects additional lawsuits to be filed against the Company, its subsidiaries and its respective officers due to the diminution in value of our securities as a result of our operating results and financial condition. It is currently uncertain as to the effect of such litigation on our business, operating results and financial conditions.

Earnings per Common Share

12 Months Ended

Dec. 31, 2018

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,	2018			2017			2016
Numerator:
Net (loss) income from continuing operations	$	(450,292	)	$	(147,649	)	$	79,060
Add: net (income) loss from continuing operations attributable to noncontrolling interests	(219		)	(151		)	842
Net (loss) income attributable to Maiden from continuing operations	(450,511		)	(147,800		)	79,902
Dividends on preference shares – Series A, C and D	(25,636		)	(29,156		)	(24,785		)
Dividends on convertible preference shares – Series B	—			—			(8,971		)
Amount allocated to participating common shareholders⁽¹⁾	(17		)	(23		)	(7		)
(Loss) income attributable to Maiden common shareholders, before discontinued operations	(476,164		)	(176,979		)	46,139
Loss from discontinued operations, net of income tax expense and amount allocated to participating common shareholders	(94,113		)	(22,096		)	(30,922		)
Numerator for basic and diluted EPS - net (loss) income allocated to Maiden common shareholders after assumed conversion⁽²⁾	$	(570,277	)	$	(199,075	)	$	15,217
Denominator:
Weighted average common shares – basic	83,050,362			85,678,232			77,534,860
Potentially dilutive securities:
Share options and restricted share units⁽²⁾	—			—			1,152,083
Adjusted weighted average common shares and assumed conversions – diluted	83,050,362			85,678,232			78,686,943
Basic (loss) earnings from continuing operations per share attributable to Maiden common shareholders:	$	(5.74	)	$	(2.06	)	$	0.60
Basic loss from discontinued operations per share attributable to Maiden common shareholders	(1.13		)	(0.26		)	(0.40		)
Basic (loss) earnings per share attributable to Maiden common shareholders:	$	(6.87	)	$	(2.32	)	$	0.20
Diluted (loss) earnings from continuing operations per share attributable to Maiden common shareholders:	$	(5.74	)	$	(2.06	)	$	0.58
Diluted loss from discontinued operations per share attributable to Maiden common shareholders	(1.13		)	(0.26		)	(0.39		)
Diluted (loss) earnings per share attributable to Maiden common shareholders:	$	(6.87	)	$	(2.32	)	$	0.19


(1)	This represents earnings allocated to the holders of non-vested restricted shares issued to the Company's employees under the Amended and Restated 2007 Share Incentive Plan. The 2018 and 2017 amounts allocated to the holders of non-vested restricted shares excluded undistributed losses during the year.

(2)

The effect of mandatory convertible preference shares were excluded in the calculation of diluted EPS for the year ended December 31, 2016 (for the period that the convertible shares were outstanding) as they were anti-dilutive. On September 15, 2016, the Company's $165,000 mandatory convertible Preference Shares - Series B were automatically converted into 12,069,090 of the Company's common shares at a conversion rate of 3.6573 per preference share. Please refer to "Note 14. Shareholders' Equity" and "Note 15. Share Compensation and Pension Plans" of the Notes to Consolidated Financial Statements, for the terms and conditions of each of these anti-dilutive instruments.

At December 31, 2018, 710,543 share options and restricted share units (2017 – 1,688,010; 2016 – 24,000) were excluded from diluted earnings per common share because they were anti-dilutive.

Shareholders' Equity

12 Months Ended

Dec. 31, 2018

Stockholders' Equity Note [Abstract]

Shareholders' Equity

Shareholders’ Equity

At December 31, 2018, the aggregate authorized share capital of the Company is 150,000,000 shares from which the Company has issued 87,938,537 common shares, of which 82,948,577 common shares are outstanding, and 18,600,000 preference shares, all of which are outstanding. The remaining 43,461,463 shares are undesignated at December 31, 2018.

a) Common Shares

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



For the Year Ended December 31,	2018		2017		2016
Outstanding shares – January 1	82,974,895		86,271,109		73,721,140
Mandatory conversion of preference shares – Series B	—		—		12,069,090
Issuance of vested restricted shares and restricted share units	198,983		246,382		251,027
Shares repurchased⁽¹⁾	(234,801	)	(3,705,256	)	(35,258	)
Exercise of options	9,500		162,660		265,110
Outstanding shares – December 31	82,948,577		82,974,895		86,271,109


(1)	In 2018, the Company repurchased 205,000 (2017 - 3,667,134) common shares under its share repurchase authorization. In addition, shares were repurchased from employees in respect of tax obligations arising from the vesting of restricted shares and performance based shares. See further details below in item (f).

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. For the year ended December 31, 2018, the Company's Board of Directors declared and paid dividends to common shareholders of $0.35 per common share (2017 - $0.60, 2016 - $0.57).

b) Preference Shares – Series D

On June 15, 2017, the Company issued and authorized a total of 6,000,000, 6.7% Preference Shares – Series D (the "Preference Shares - Series D"), par value $0.01 per share, at a price of $25 per preference share. The Company's total net proceeds from the offering was $144,942, after deducting issuance costs of $5,058, which were recognized as a reduction in additional paid-in capital. The Preference Shares – Series D have no stated maturity date and are redeemable in whole or in part at the sole option of the Company any time after June 15, 2022, subject to certain regulatory restrictions at a redemption price of $25 per preference share plus any declared and unpaid dividends, without accumulation of any undeclared dividends. Additionally, at any time prior to June 15, 2022, the Company may redeem all but not less than all of the Series D Preference Shares at a redemption price of $25 per share, plus declared and unpaid dividends, if any, to, but excluding, the date of redemption subject to certain conditions and regulatory approval.

Dividends on the Preference Shares – Series D are non-cumulative. Consequently, in the event a dividend is not declared on the Preference Shares – Series D for any dividend period, holders of Preference Shares – Series D 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 D 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.

To the extent declared, these dividends will accumulate, with respect to each dividend period, in an amount per share equal to 6.7% of the $25 liquidation preference per annum. During any dividend period, so long as any Preference Shares – Series D remain outstanding, unless the full dividends for the latest completed dividend period on all outstanding Preference Shares – Series D have been declared and paid, no dividend shall be paid or declared on the common shares.

The holders of the Preference Shares – Series D 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 year ended December 31, 2018, the Company declared and paid dividends on the Preference Shares – Series D of $7,538 or $1.2563 per share (2017 - $5,025 or $0.8375 per share). No dividends were declared by the Company's Board of Directors on the Preference Shares - Series D for the fourth quarter of 2018 and the first quarter of 2019. At March 1, 2019, if preference share dividends are not declared and paid for four more dividend periods, then the holders of the Preference Shares - Series D will be entitled to vote for the election of a total of two additional members of the Company's Board of Directors.

c) Preference Shares – Series C

On November 25, 2015, the Company issued and authorized a total of 6,600,000 7.125% Preference Shares – Series C (the "Preference Shares - Series C"), par value $0.01 per share, at a price of $25 per preference share. The Company's total net proceeds from the offering was $159,485, after deducting issuance costs of $5,515, which were recognized as a reduction in additional paid-in capital. The Preference Shares – Series C have no stated maturity date and are redeemable in whole or in part at the sole option of the Company any time after December 15, 2020 at a redemption price of $25 per preference share plus any declared and unpaid dividends, without accumulation of any undeclared dividends.

14. Shareholders’ Equity (continued)

Dividends on the Preference Shares – Series C are non-cumulative. Consequently, in the event a dividend is not declared on the Preference Shares – Series C for any dividend period, holders of Preference Shares – Series C 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 C 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.

To the extent declared, these dividends will accumulate, with respect to each dividend period, in an amount per share equal to 7.125% of the $25 liquidation preference per annum. During any dividend period, so long as any Preference Shares – Series C remain outstanding, unless the full dividends for the latest completed dividend period on all outstanding Preference Shares – Series C have been declared and paid, no dividend shall be paid or declared on the common shares.

The holders of the Preference Shares – Series C 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 year ended December 31, 2018, the Company declared and paid dividends on the Preference Shares – Series C of $8,816 or $1.3359 per share (2017 - $11,756 or $1.7813 per share, 2016 -$12,410 or $1.8803 per share). No dividends were declared by the Company's Board of Directors on the Preference Shares - Series C for the fourth quarter of 2018 and the first quarter of 2019. At March 1, 2019, if preference share dividends are not declared and paid for four more dividend periods, then the holders of the Preference Shares - Series C will be entitled to vote for the election of a total of two additional members of the Company's Board of Directors.

d) Mandatory Convertible Preference Shares – Series B

In October 2013, the Company issued and authorized 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's total net proceeds from the offering was $159,675, after deducting issuance costs of $5,325, which were recognized as a reduction in additional paid-in capital. The Preference Shares – Series B were not redeemable.

The Company paid 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 accrued and accumulated from the date of issuance and, to the extent that the Company had lawfully available funds to pay dividends and the Board of Directors declared a dividend payable, it paid dividends quarterly each year commencing on December 15, 2013, up to, and including, September 15, 2016 in cash.

On September 15, 2016, each of the outstanding Preference Share – Series B were automatically converted into 12,069,090 of the Company's common shares at a conversion rate of $3.6573 per preference share 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 Company declared and paid dividends on the Preference Shares – Series B of $8,971 or $2.7188 per share for the year ended December 31, 2016.

e) Preference Shares - Series A

On August 22, 2012, the Company issued and authorized a total of 6,000,000 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's total net proceeds from the offering was $145,041, 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 sole 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.

Dividends on the Preference Shares – Series A are non-cumulative. Consequently, in the event a dividend is 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.

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 year ended December 31, 2018, the Company declared and paid dividends on the Preference Shares - Series A of $9,282 or $1.5469 per share (2017 and 2016 - $12,375 or $2.0625 per share). No dividends were declared by the Company's Board of Directors on the Preference Shares - Series A for the fourth quarter of 2018 and the first quarter of 2019. At March 1, 2019, if preference share dividends are not declared and paid for four more dividend periods, then the holders of the Preference Shares - Series A will be entitled to vote for the election of a total of two additional members of the Company's Board of Directors.

14. Shareholders’ Equity (continued)

f) Treasury Shares

On February 21, 2017, the Company's Board of Directors approved the repurchase of up to $100,000 of the Company's common shares from time to time at market prices. During the year ended December 31, 2018, the Company repurchased 205,000 common shares (2017 - 3,667,134) at an average price per share of $3.31 (2017 - $6.84) under the Company's share repurchase plan. At December 31, 2018, the Company has a remaining authorization of $74,245 (2017 - $74,924) for share repurchases.

In addition, during the year ended December 31, 2018, the Company repurchased a total of 29,801 shares (2017 - 38,122, 2016 - 35,258) at an average price per share of $6.52 (2017 - $15.06, 2016 - $13.33) from employees, which represent withholdings in respect of tax obligations on the vesting of restricted shares and performance based shares.

g) 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, 2018, 2017 and 2016:



For the Year Ended December 31, 2018	Change in net unrealized gains on investment			Foreign currency translation adjustments			Total
Beginning balance	$	21,889		$	(8,583	)	$	13,306
Other comprehensive (loss) income before reclassifications	(108,726		)	2,651			(106,075		)
Amounts reclassified from AOCI to net income, net of tax	27,075			—			27,075
Net current period other comprehensive (loss) income	(81,651		)	2,651			(79,000		)
Ending balance	(59,762		)	(5,932		)	(65,694		)
Less: AOCI attributable to noncontrolling interest	—			(78		)	(78		)
Ending balance, Maiden shareholders	$	(59,762	)	$	(5,854	)	$	(65,616	)



For the Year Ended December 31, 2017	Change in net unrealized gains on investment			Foreign currency translation adjustments			Total
Beginning balance	$	(20,716	)	$	35,604		$	14,888
Other comprehensive income (loss) before reclassifications	44,421			(44,187		)	234
Amounts reclassified from AOCI to net income, net of tax	(1,816		)	—			(1,816		)
Net current period other comprehensive income (loss)	42,605			(44,187		)	(1,582		)
Ending balance	21,889			(8,583		)	13,306
Less: AOCI attributable to noncontrolling interest	—			(48		)	(48		)
Ending balance, Maiden shareholders	$	21,889		$	(8,535	)	$	13,354



For the Year Ended December 31, 2016	Change in net unrealized gains on investment			Foreign currency translation adjustments			Total
Beginning balance	$	(54,112	)	$	30,231		$	(23,881	)
Other comprehensive income before reclassifications	32,820			5,373			38,193
Amounts reclassified from AOCI to net income, net of tax	576			—			576
Net current period other comprehensive income	33,396			5,373			38,769
Ending balance	(20,716		)	35,604			14,888
Less: AOCI attributable to noncontrolling interest	—			(109		)	(109		)
Ending balance, Maiden shareholders	$	(20,716	)	$	35,713		$	14,997

14. Shareholders’ Equity (continued)

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 (losses) gains on AFS securities		2018			2017		2016
	Net realized (losses) gains on investment	$	(21,243	)	$	1,816	$	(576	)
	Net impairment losses recognized in earnings	(5,832		)	—		—
	Total before tax	(27,075		)	1,816		(576		)
	Income tax expense	—			—		—
	Total after tax	$	(27,075	)	$	1,816	$	(576	)

Share Compensation and Pension Plans

12 Months Ended

Dec. 31, 2018

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 shares and restricted share units. New shares are issued upon exercise of options and vesting of restricted shares and 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.

The following table shows all options granted, exercised, forfeited and expired under the Plan for the years ended December 31, 2018, 2017 and 2016:



	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, 2015	1,926,199		$	6.96			4.15 years	$	15,306	$3.28 - $13.98
Granted	24,000		$	13.12	$	2.45				$13.12
Exercised	(265,110	)	$	7.28				$	1,453
Expired	(1,000	)	$	7.67
Outstanding, December 31, 2016	1,684,089		$	7.00			3.36 years	$	17,598	$3.28 - $13.98
Exercised	(162,660	)	$	6.64				$	955
Expired	(4,660	)	$	9.92
Outstanding, December 31, 2017	1,516,769		$	7.03			2.45 years	$	1,100	$3.28 - $13.98
Granted	275,000		$	7.07	$	1.36				$3.24 - $7.20
Exercised	(9,500	)	$	3.28				$	5,715
Expired	(1,038,510	)	$	6.50
Forfeited	(85,935	)	$	7.23
Outstanding, December 31, 2018	657,824		$	7.92			4.40 years	$	—	$3.24 - $13.98
Total exercisable at December 31, 2018	467,824		$	8.28			2.46 years	$	—	$4.45 - $13.98

15. Share Compensation and Pension Plans (continued)

The weighted average grant date fair value was $2.08 (2017 - $2.13, 2016 - $2.10) for all options outstanding at December 31, 2018. There was $178 (2017 - $12) of total unrecognized compensation cost related to non-vested options at December 31, 2018 which will be recognized during the next 2.24 years. Cash in the amount of $31 was received from employees as a result of employee share option exercises during the year ended December 31, 2018 (2017 – $1,081, 2016 – $1,931). In connection with these exercises, there was no tax benefit realized by the Company.

Restricted Shares and Restricted Share Units

The fair value of each restricted share or restricted 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 ("PB-RSU")

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-RSU to certain senior leaders of the Company. The formula for determining the amount of PB-RSU 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 non-GAAP 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 and maximum level of performance goal set to achieve a payout. All prior, current and future PB-RSU 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. Beginning in 2014, the Committee approved an annual award of PB-RSU to certain senior leaders of the Company with each annual award vesting over three years.

Non-Performance-Based Restricted Share Units ("NPB-RS")

Beginning in 2012, the Committee approved an annual award of NPB-RSU with each annual award vesting over three years. The total fair value of share units vested during the year ended December 31, 2018 was $897 (2017 - $633, 2016 - $1,068).

Discretionary Non-Performance-Based Restricted Shares ("NPB-RS")

Beginning in 2013, the Committee approved an annual award of NPB-RS with each annual award vesting either over two or three years. The total fair value of restricted shares vested during the year ended December 31, 2018 was $400 (2017 - $357, 2016 - $379). The following table shows a summary of activity under the Company's restricted share awards:



	Non-Performance-Based Restricted Share Units				Non-Performance-Based Restricted Shares				Performance Based Restricted Share Units⁽¹⁾
	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 31, 2015	138,128		$	12.07	53,152		$	13.22	745,482		$	12.05
Awards granted	75,988		$	13.16	23,000		$	12.90	355,544		$	13.11
Awards vested	(94,931	)	$	11.24	(29,949	)	$	12.67	(85,847	)	$	12.29
Awards forfeited	—		$	—	—		$	—	(169,458	)	$	10.02
Non-vested at December 31, 2016	119,185		$	13.42	46,203		$	13.42	845,721		$	12.88
Awards granted	25,000		$	10.55	17,500		$	16.75	284,130		$	16.75
Awards vested	(46,927	)	$	13.50	(26,477	)	$	13.49	(110,976	)	$	12.20
Awards forfeited	—		$	—	—		$	—	(208,411	)	$	11.73
Non-vested at December 31, 2017	97,258		$	12.65	37,226		$	14.93	810,464		$	14.60
Awards granted	25,000		$	8.75	268,971		$	5.79	734,668		$	7.20
Awards vested	(71,928	)	$	12.47	(27,726	)	$	14.43	(99,931	)	$	13.88
Awards forfeited	(25,330	)	$	13.16	(17,500	)	$	9.36	(597,556	)	$	11.15
Non-vested at December 31, 2018	25,000		$	8.75	260,971		$	5.94	847,645		$	10.71


(1)	For Performance Based 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.

There was $91 and $1,298 of total unrecognized compensation cost related to restricted share units and restricted shares at December 31, 2018, both of which will be recognized during the next 0.42 years and 2.62 years, respectively. Total share-based expense for the year ended December 31, 2018 was $1,276 (2017 - $2,938, 2016 - $3,414).

15. Share Compensation and Pension Plans (continued)

Pension Plans

The Company provides pension benefits to eligible employees principally through various defined contribution plans sponsored by the Company which vary by subsidiary. The Company’s expenses for its defined contribution plans for the year ended December 31, 2018 was $1,543 (2017 - $1,386, 2016 - $1,515).

Statutory Requirements and Dividend Restrictions

12 Months Ended

Dec. 31, 2018

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



	Maiden Bermuda			Maiden LF			Maiden GF
Statutory Capital and Surplus
December 31, 2018	$	869,886		$	7,607		$	6,192
December 31, 2017	1,205,991			8,552			6,417

Statutory Net (Loss) Income
For the Year Ended December 31, 2018	$	(389,372	)	$	(462	)	$	98
For the Year Ended December 31, 2017	(167,307		)	(441		)	(242		)
For the Year Ended December 31, 2016	87,888			756			—

a) Bermuda

Maiden Bermuda is registered as a Class 3B reinsurer under The Insurance Act 1978 (Bermuda), amendments thereto and related regulations (the "Insurance Act"). Under the Insurance Act, Maiden Bermuda is subject to enhanced capital requirements in addition to minimum solvency and liquidity requirements and must maintain statutory economic capital and surplus at a level at least equal to its ECR which is the greater of its minimum solvency margin ("MSM") and the required capital calculated by reference to the Bermuda Solvency Capital Requirement ("BSCR").

The BMA is the group supervisor of the Company. Under the Insurance Act 1978, the Company is required to ensure it can meet its MSM and ECR. Throughout 2018 and at December 31, 2018, Maiden Bermuda has met the MSM and liquidity requirements. However, the Company and Maiden Bermuda failed to meet the requirements to hold sufficient capital to cover their respective ECR requirements as of September 30, 2018 and December 31, 2018. The Company had communicated such conditions to the BMA and is following the guidelines of a reportable “event” as stipulated by Bermuda insurance law.

The Company has taken the following actions to remediate the breach including: (1) completed the sale of Maiden US on December 27, 2018; (2) capital injections into Maiden Bermuda by Maiden Holdings and Maiden NA of $125,000 on December 31, 2018 and $70,000 in January 2019; (3) entered into the Partial Termination Amendment with AmTrust effective January 1, 2019; and (4) entered into amendments with AmTrust which terminated the AmTrust Quota Share and the European Hospital Liability Quota Share effective January 1, 2019. Please see "Note 18. Subsequent Events" for further information regarding these amendments.

As a result of these actions and pending the finalization and regulatory approval of the New LPT/ADC MTA entered into by Maiden Bermuda and Enstar on March 1, 2019 (please see "Note 18. Subsequent Events" for further details), the Company estimates that it and Maiden Bermuda will have sufficient capital in excess of the respective ECR requirements and that this position should improve throughout 2019.

Under the Insurance Act, 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. 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 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.

At December 31, 2018, the maximum dividend Maiden Bermuda could pay, without a signed affidavit, having met minimum levels of statutory capital and surplus requirements was $0 (2017 - $301,498). During the year ended December 31, 2018, dividends from Maiden Bermuda to Maiden Holdings, Ltd. were $0 (2017 - $105,000, 2016 -$445,000). Maiden Bermuda has voluntarily undertaken with the BMA not to make any capital distributions of any kind, which would include but is not limited to payment of dividends, without the express consent of the BMA.

16. Statutory Requirements and Dividend Restrictions (continued)

b) Sweden

The Company has two Swedish domiciled insurance subsidiaries in Sweden, Maiden LF and Maiden GF, both regulated by the Swedish Finansinspektionen ("Swedish FSA").

Maiden LF was required to maintain a minimum level of statutory capital and surplus of $4,243 at December 31, 2018 (2017 - $4,442). 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, 2018, Maiden LF is allowed to pay dividends or distributions not exceeding $1,873 (2017 - $2,507).

Maiden GF was granted a general insurance license effective September 14, 2016 with an approved level of initial statutory capital and surplus of $6,135. Maiden GF was required to maintain a minimum level of statutory capital and surplus of $4,243 at December 31, 2018 (2017 - $4,442). This requirement was met by Maiden GF throughout the year. Maiden GF is subject to statutory and regulatory restrictions under the Swedish FSA that limit the maximum amount of annual dividends or distributions paid by Maiden GF to Maiden Holdings. As of December 31, 2018, Maiden GF is not allowed to pay dividends or distributions as it has cumulative losses from inception.

Taxation

12 Months Ended

Dec. 31, 2018

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 our U.S. subsidiaries pay a dividend outside the U.S. group, withholding taxes will apply. Tax year 2016 is currently under examination while 2015 and 2017 remain subject to examination in the U.S by the Internal Revenue Service. The Company was examined in prior years and those exams were closed without any impact on our operations.

The Company has subsidiary and branch operations in various other locations around the world, including Australia, Germany, Ireland, Sweden and the U.K., that are subject to relevant taxes in those jurisdictions. None are under examination but generally remain subject to examination in all applicable jurisdictions for tax years from 2015 through 2018.

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, 2018, 2017 and 2016. (Loss) income before taxes and income tax (benefit) expense for the years ended December 31, 2018, 2017 and 2016 was as follows:



For the Year Ended December 31,	2018			2017			2016
(Loss) income from continuing operations before income taxes – Domestic (Bermuda)	$	(424,667	)	$	(140,874	)	$	78,651
(Loss) income from continuing operations before income taxes – Foreign (U.S. and others)	(25,184		)	(13,532		)	822
Total (loss) income from continuing operations before income taxes	$	(449,851	)	$	(154,406	)	$	79,473

Current tax expense – Domestic (Bermuda)	$	—		$	—		$	—
Current tax expense – Foreign (U.S. and others)	501			669			490
Total current tax expense	$	501		$	669		$	490

Deferred tax expense – Domestic (Bermuda)	$	—		$	—		$	—
Deferred tax benefit – Foreign (U.S. and others)	(60		)	(7,426		)	(77		)
Total deferred tax benefit	$	(60	)	$	(7,426	)	$	(77	)

Total income tax expense (benefit)	$	441		$	(6,757	)	$	413

The following table is a reconciliation of the actual income tax rate for the years ended December 31, 2018, 2017 and 2016 to the amount computed by applying the effective tax rate of 0.0% under Bermuda law to income before income taxes:

17. Taxation (continued)



For the Year Ended December 31,	2018			2017			2016
(Loss) income from continuing operations before income taxes	$	(449,851	)	$	(154,406	)	$	79,473
Less: income tax expense (benefit)	441			(6,757		)	413
Net (loss) income from continuing operations	$	(450,292	)	$	(147,649	)	$	79,060
Reconciliation of effective tax rate (% of income before income taxes)
Bermuda tax rate	—		%	—		%	—		%
U.S. taxes at statutory rates	1.1		%	9.6		%	(5.8		)%
Rate change in the U.S.	—		%	3.2		%	—		%
Valuation allowance in respect of U.S. taxes	(1.1		)%	(8.3		)%	5.8		%
Other jurisdictions	(0.1		)%	(0.1		)%	0.5		%
Actual tax rate	(0.1		)%	4.4		%	0.5		%

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, 2018 and 2017 were as follows:



December 31,	2018		2017
Deferred tax assets:
Net operating losses	$	44,119	$	39,923
Capital loss carry-forward	12,345		—
Others	548		643
Deferred tax assets before valuation allowance	57,012		40,566
Valuation allowance	56,326		39,934
Deferred tax assets, net	686		632
Deferred tax liabilities:
Net unrealized gains on investment	33		78
Deferred tax liabilities	33		78
Net deferred tax asset	$	653	$	554

The net deferred tax asset at December 31, 2018 was $653 (2017 - $554). A valuation allowance has been established against the net U.S. deferred tax assets which is primarily attributable to net operating losses and capital losses. At this time, we believe it is necessary to establish a valuation allowance against the net deferred tax assets, other than the Alternative Minimum Tax credit due to insufficient positive evidence regarding the utilization of these losses. During 2018, the Company recorded an increase in the valuation allowance of $16,392 (2017 - decrease of $23,479). At December 31, 2018, the Company has an available net operating loss carry-forward of approximately $208,853 (2017 - $189,403) for income tax purposes which expires beginning in 2029. At December 31, 2018, the Company also has a capital loss carry-forward of $58,785 (2017 - $0) which will expire in 2023.

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2018
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events AmTrust Agreements Effective January 1, 2019, the Company, through its subsidiary Maiden Bermuda, and AmTrust entered into the Partial Termination Amendment. The Partial Termination Amendment provided for the cut-off of the ongoing and unearned premium of AmTrust’s Small Commercial Business, comprising workers’ compensation, general liability, umbrella liability, professional liability (including cyber liability) insurance coverages, and U.S. Specialty Risk and Extended Warranty ("Terminated Business") as of December 31, 2018. Under the Partial Termination Amendment, the ceding commission payable by Maiden Bermuda for its remaining in-force business immediately prior to January 1, 2019 shall increase by 5 percentage points with respect to in-force remaining business (excluding Terminated Business) and related unearned premium as of January 1, 2019. The amendment resulted in Maiden Bermuda returning approximately $716,100 in unearned premium to AII, which nets to $480,000 after consideration of ceding commission and brokerage. In January 2019, as part of this amendment, the Company transferred cash and investments of $480,000. On or before May 30, 2019, Maiden Bermuda shall report to AII the actual unearned premium applicable to the Terminated Business as of December 31, 2018. In the event that actual unearned premium exceeds the estimated unearned premium, Maiden Bermuda shall return assets to AII in an amount equal to the difference by transfer of certain assets held in trust. In the event that the estimated unearned premium exceeds the actual unearned premium, AII shall return the difference to Maiden Bermuda by designating assets in an amount equal to the difference as collateral. On January 11, 2019, the Company converted a portion of the existing trust accounts used for collateral on the AmTrust Quota Share to a Funds Withheld arrangement, which is permitted collateral under the AmTrust Quota Share. The Company transferred cash and investments of $575,000 to AmTrust as Funds Withheld which bears an annual interest rate of 3.5% subject to annual adjustment. On January 30, 2019, Maiden Bermuda and AmTrust, through its wholly owned subsidiaries AII, AEL and AIU DAC, agreed to terminate on a run-off basis the (i) AmTrust Quota Share; and (ii) European Hospital Liability Quota Share 20% and AIU DAC cedes 40% to Maiden Bermuda of AmTrust’s European Hospital Liability business. Each termination was effective as of January 1, 2019. On January 30, 2019, in connection with the termination of the reinsurance agreements described above, the Company and AmTrust entered into (i) a second amendment to the Master Agreement between the parties, originally entered into on July 3, 2007, to remove the provisions requiring AmTrust to reinsure business with the Company; and (ii) an amendment to the Loan Agreement between Maiden Bermuda, AmTrust and AII, originally entered into on November 16, 2007. The Amendment to the Loan Agreement provides for the extension of the maturity date to January 1, 2025 and acknowledges that due to the termination of the AmTrust Quota Share that no further loans or advances may be made pursuant to the Loan Agreement. Reinsurance Agreements with Enstar On March 1, 2019, the Company and Enstar terminated the Master Transaction Agreement between the parties dated as of November 9, 2018 (the “Old LPT MTA”) and simultaneously signed the New LPT/ADC MTA pursuant to which an Enstar subsidiary will assume liabilities for loss reserves as of December 31, 2018 associated with the quota share reinsurance agreements between Maiden Bermuda and AmTrust in excess of a $2,441,359 retention up to $675,000. The $2,441,359 retention will be subject to adjustment for paid losses subsequent to December 31, 2018. The New LPT/ADC MTA and associated reinsurance agreement will provide Maiden Bermuda with $175,000 in adverse development cover over its carried AmTrust reserves at December 31, 2018. The New LPT/ADC MTA will be accounted for as retroactive reinsurance. Cumulative ceded losses exceeding $500,000 would result in a deferred gain which would be recognized over the settlement period in proportion to cumulative losses collected over the estimated ultimate reinsurance recoverable. Consequently, cumulative adverse development subsequent to December 31, 2018, in excess of $500,000, may result in significant losses from operations until periods when the deferred gain is recognized as a benefit to earnings. The transaction is subject to regulatory approvals and other closing conditions. Sale of AVS Automotive VersicherungsService GmbH (“AVS”) On January 10, 2019, Maiden Global completed the sale of its wholly owned subsidiary, AVS, and its related European subsidiaries to Allianz Partners (“Allianz”). AVS, which is organized under the laws of Germany, operates as an insurance producer in Germany and was a wholly owned subsidiary of Maiden Global prior to its sale. The Company’s proceeds from the sale of AVS include an undisclosed cash payment at closing and a three-year quota share reinsurance agreement with Allianz. AVS and its subsidiaries work with German and Austrian auto retailers, original equipment manufacturers and related credit providers to design and distribute auto dealer and consumer insurance products. All of AVS's employees have joined Allianz and the company name will remain unchanged subsequent to its sale.

Condensed Quarterly Financial Data - Unaudited

12 Months Ended

Dec. 31, 2018

Quarterly Financial Information Disclosure [Abstract]

Condensed Quarterly Financial Data — Unaudited

The following tables summarize our quarterly financial data:



2018 Quarters Ended⁽³⁾	March 31			June 30			September 30⁽¹⁾⁽⁴⁾			December 31⁽¹⁾
Total revenues from continuing operations	$	553,765		$	540,267		$	555,662		$	515,113
Net income (loss) from continuing operations	12,348			(5,535		)	(240,413		)	(216,692		)
Income (loss) from discontinued operations, net of income tax	9,995			8,215			(59,819		)	(52,504		)
Net income (loss)	$	22,343		$	2,680		$	(300,232	)	$	(269,196	)
Net income (loss) attributable to Maiden common shareholders	$	13,727		$	(5,913	)	$	(308,839	)	$	(269,235	)
Comprehensive loss – attributable to Maiden	(53,997		)	(31,411		)	(319,704		)	(218,482		)
Basic earnings (loss) from continuing operations per share attributable to Maiden common shareholders	$	0.05		$	(0.17	)	$	(3.00	)	$	(2.61	)
Basic earnings (loss) from discontinued operations per share attributable to Maiden common shareholders	0.12			0.10			(0.72		)	(0.64		)
Basic earnings (loss) per common share attributable to Maiden common shareholders	$	0.17		$	(0.07	)	$	(3.72	)	$	(3.25	)
Diluted earnings (loss) from continuing operations per share attributable to Maiden common shareholders	$	0.04		$	(0.17	)	$	(3.00	)	$	(2.61	)
Diluted earnings (loss) from discontinued operations per share attributable to Maiden common shareholders	0.12			0.10			(0.72		)	(0.64		)
Diluted earnings (loss) per common share attributable to Maiden common shareholders	$	0.16		$	(0.07	)	$	(3.72	)	$	(3.25	)



2017 Quarters Ended⁽³⁾	March 31		June 30			September 30⁽⁴⁾			December 31⁽²⁾
Total revenues from continuing operations	$	560,084	$	563,116		$	496,544		$	519,074
Net income (loss) from continuing operations	14,727		(1,927		)	(43,983		)	(116,466		)
Income (loss) from discontinued operations, net of income tax	11,774		(14,408		)	(11,071		)	(8,391		)
Net income (loss)	$	26,501	$	(16,335	)	$	(55,054	)	$	(124,857	)
Net income (loss) attributable to Maiden common shareholders	$	20,490	$	(22,359	)	$	(63,596	)	$	(133,587	)
Comprehensive income (loss) – attributable to Maiden	27,117		3,658			(44,547		)	(157,767		)
Basic earnings (loss) from continuing operations per share attributable to Maiden common shareholders	$	0.10	$	(0.09	)	$	(0.61	)	$	(1.49	)
Basic earnings (loss) from discontinued operations per share attributable to Maiden common shareholders	0.14		(0.17		)	(0.13		)	(0.10		)
Basic earnings (loss) per common share attributable to Maiden common shareholders	$	0.24	$	(0.26	)	$	(0.74	)	$	(1.59	)
Diluted earnings (loss) from continuing operations per share attributable to Maiden common shareholders	$	0.10	$	(0.09	)	$	(0.61	)	$	(1.49	)
Diluted earnings (loss) from discontinued operations per share attributable to Maiden common shareholders	0.13		(0.17		)	(0.13		)	(0.10		)
Diluted earnings (loss) per common share attributable to Maiden common shareholders	$	0.23	$	(0.26	)	$	(0.74	)	$	(1.59	)

(1)

During the third and fourth quarters of 2018, the Company increased the prior year reserves mainly in our AmTrust Reinsurance segment. The Company recorded unfavorable reserve development in the AmTrust Reinsurance segment which reduced its net income, net income attributable to Maiden common shareholders and comprehensive income by approximately $210,433 or $2.53 per basic and diluted common share during the three months ended September 30, 2018 and approximately $151,874 or $1.83 per basic and diluted share during the three months ended December 31, 2018.

(2)

During the fourth quarter of 2017, the Company increased the prior year reserves mainly in our AmTrust Reinsurance segment. The Company recorded unfavorable reserve development which reduced its net income, net income attributable to Maiden common shareholders and comprehensive income during the three months ended December 31, 2017 by approximately $139,024 or $1.66 per basic and diluted common share.

(3)

During the third quarter of 2018, the Company made the strategic decision to divest its U.S. treaty reinsurance operations. Except as explicitly described as discontinued operations, all amounts presented above relate to the Company's continuing operations except for net income, net income attributable to Maiden common shareholders and comprehensive income. Please see “Note 6. Discontinued Operations" for additional information related to discontinued operations. All prior years presented in the Condensed Quarterly Financial Data have been reclassified to conform to this new presentation.

(4)

The reclassification of net loss from discontinued operations for the three months ended September 30, 2018 and 2017 has been modified from previously reported numbers in the Form 10Q filed for September 30, 2018 due to changes in estimates regarding segment allocations for general and administrative expenses, net investment income and income tax.

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

12 Months Ended

Dec. 31, 2018

SEC Schedule, 12-15, Insurance Companies, 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, 2018	Amortized Cost⁽¹⁾		Fair Value		Amount at Which Shown in the Balance Sheet
AFS fixed maturities:
U.S. treasury bonds	$	138,625	$	139,072	$	139,072
U.S. agency bonds – mortgage-backed	1,485,716		1,453,134		1,453,134
U.S. agency bonds – other	129,741		129,233		129,233
Non-U.S. government and supranational bonds	11,212		10,072		10,072
Asset-backed securities	216,072		215,082		215,082
Corporate bonds	1,128,614		1,104,975		1,104,975
Total AFS fixed maturities	3,109,980		3,051,568		3,051,568
HTM fixed maturities:
Corporate bonds	957,845		940,727		957,845
Municipal bonds	57,836		57,285		57,836
Total HTM fixed maturities	1,015,681		998,012		1,015,681
Other investments	23,435		23,716		23,716
Total investments	$	4,149,096	$	4,073,296	$	4,090,965

⁽¹⁾ Original cost of other investments and, for fixed maturities, original cost reduced by repayments and adjusted for amortization of premiums or discounts

Schedule II Condensed Financial Information of Parent Company

12 Months Ended

Dec. 31, 2018

Condensed Financial Information Disclosure [Abstract]

Schedule II Condensed Financial Information of Parent Company

Schedule II

MAIDEN HOLDINGS, LTD.
CONDENSED BALANCE SHEETS — PARENT COMPANY
As of December 31, 2018 and 2017

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



	2018			2017
ASSETS
Fixed maturities, available-for-sale, at fair value (Amortized cost 2018 - $0; 2017 - $68,952)	$	—		$	68,965
Other investments, at fair value (Cost 2018 - $500; 2017 - $500)	500			500
Cash and cash equivalents	7,273			9,886
Investment in subsidiaries	883,462			1,401,547
Balances due from subsidiaries	73			79,376
Goodwill	—			5,972
Other assets	4,923			4,260
Total assets	$	896,231		$	1,570,506
LIABILITIES
Accrued expenses and other liabilities	$	4,602		$	14,810
Balances due to subsidiaries	230,965			217,176
Senior notes - principal amount	110,000			110,000
Less: unamortized debt issuance costs	3,611			3,654
Senior notes, net	106,389			106,346
Total liabilities	341,956			338,332
EQUITY
Preference shares	465,000			465,000
Common shares ($0.01 par value; 87,938,537 and 87,730,054 shares issued in 2018 and 2017, respectively; 82,948,577 and 82,974,895 shares outstanding in 2018 and 2017, respectively)	879			877
Additional paid-in capital	749,418			748,113
Accumulated other comprehensive (loss) income	(65,616		)	13,354
(Accumulated deficit) retained earnings	(563,891		)	35,472
Treasury shares, at cost (4,989,960 and 4,755,159 shares in 2018 and 2017, respectively)	(31,515		)	(30,642		)
Total equity	554,275			1,232,174
Total liabilities and equity	$	896,231		$	1,570,506

1) Maiden Holdings has fully and unconditionally guaranteed the $152.5 million 2013 Senior Notes - 7.75% issued by its wholly owned subsidiary, Maiden NA. The Senior Notes are an unsecured and unsubordinated obligation of Maiden Holdings.

Schedule II

MAIDEN HOLDINGS, LTD.
CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME — PARENT COMPANY
For the Years Ended December 31, 2018, 2017 and 2016
(In thousands of U.S. dollars)



For the Year Ended December 31,	2018			2017			2016
Revenues
Net investment income	$	1,039		$	885		$	1,693
Net realized gains on investment	(1,532		)	5,466			1,990
	(493		)	6,351			3,683
Expenses
General and administrative expenses	25,991			20,092			17,008
Interest and amortization expenses	7,331			7,328			3,988
Foreign exchange losses (gains)	6,324			(819		)	1,371
	39,646			26,601			22,367
Loss before equity in earnings of consolidated subsidiaries	(40,139		)	(20,250		)	(18,684		)
Equity in (loss) earnings of consolidated subsidiaries	(504,485		)	(149,646		)	67,664
Net (loss) income	(544,624		)	(169,896		)	48,980
Dividends on preference shares	(25,636		)	(29,156		)	(33,756		)
Net (loss) income attributable to Maiden common shareholders	$	(570,260	)	$	(199,052	)	$	15,224

Comprehensive (loss) income attributable to Maiden	$	(623,594	)	$	(171,539	)	$	87,744

Schedule II

MAIDEN HOLDINGS, LTD.
CONDENSED STATEMENTS OF CASH FLOWS — PARENT COMPANY
For the Years Ended December 31, 2018, 2017 and 2016
(In thousands of U.S. dollars)



For the Year Ended December 31,	2018			2017			2016
Cash flows provided by (used in) operating activities
Net (loss) income	$	(544,624	)	$	(169,896	)	$	48,980
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in loss (earnings) of consolidated subsidiaries	504,485			149,646			(67,664		)
Depreciation and amortization of debt issuance cost and bond premium and discount	656			131			207
Net realized losses (gains) on investment	1,532			(5,466		)	(1,990		)
Foreign exchange losses (gains)	6,324			(819		)	1,371
Share-based compensation expense	1,276			2,938			3,414
Changes in assets – (increase) decrease:
Balance due from subsidiaries	78,992			(5,159		)	(7,222)
Other assets	(751		)	305			(125)
Changes in liabilities – increase (decrease)
Accounts payable and accrued liabilities	2,244			478			(216)
Balances due to subsidiaries	13,789			22,640			84,504
Net cash provided by (used in) operating activities	63,923			(5,202		)	61,259
Cash flows provided by (used in) investing activities
Purchases of fixed maturities – available-for-sale	(37,412		)	(74,893		)	(16,203		)
Purchases of other investments	—			(500		)	—
Proceeds from sales of fixed maturities – available-for-sale	80,542			22,806			44,475
Proceeds from maturities, paydowns and calls of fixed maturities – available-for-sale	24,240			15			—
Proceeds from sales of other investments	—			9,894			350
Dividends from subsidiaries	1,033			105,652			—
Contributions to subsidiaries	(66,391		)	(100,751		)	(107,546		)
Purchase of fixed assets	(506		)	(3,410		)	—
Net cash provided by (used in) investing activities	1,506			(41,187		)	(78,924		)
Cash flows (used in) provided by financing activities
Senior notes, net of issuance costs	—			—			106,285
Preference shares issuance, net of issuance costs	—			144,942			(143		)
Dividends paid – preference shares	(25,636		)	(29,156		)	(33,756		)
Dividends paid – Maiden common shares	(41,555		)	(51,634		)	(43,127		)
Issuance of common shares	31			1,081			1,931
Repurchase of common shares	(873		)	(25,651		)	(470		)
Net cash (used in) provided by financing activities	(68,033		)	39,582			30,720
Effect of exchange rate changes on foreign currency cash	(9		)	16			16
Net (decrease) increase in cash and cash equivalents	(2,613		)	(6,791		)	13,071
Cash and cash equivalents, beginning of year	9,886			16,677			3,606
Cash and cash equivalents, end of year	$	7,273		$	9,886		$	16,677

Schedule III Supplementary Insurance Information

12 Months Ended

Dec. 31, 2018

SEC Schedule, 12-16, Insurance Companies, 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, 2018						For the Year Ended December 31, 2018
	Deferred commission and other acquisition expenses		Reserve for loss and loss adjustment expenses		Unearned premiums		Net premiums earned		Net investment income		Net loss and LAE		Amortization of deferred commission and other acquisition expenses		General and admin. expenses		Net premiums written
Diversified Reinsurance	$	18,405	$	105,589	$	64,506	$	112,487	$	—	$	71,441	$	38,749	$	17,396	$	129,319
AmTrust Reinsurance	370,037		2,947,547		1,135,913		1,913,715		—		1,806,995		615,991		3,845		1,885,278
Total - Reportable Segments	388,442		3,053,136		1,200,419		2,026,202		—		1,878,436		654,740		21,241		2,014,597
Other	—		2,840		—		—		136,285		1,685		—		43,699		—
Total	$	388,442	$	3,055,976	$	1,200,419	$	2,026,202	$	136,285	$	1,880,121	$	654,740	$	64,940	$	2,014,597



	December 31, 2017						For the Year Ended December 31, 2017
	Deferred commission and other acquisition expenses		Reserve for loss and loss adjustment expenses		Unearned premiums		Net premiums earned		Net investment income		Net loss and LAE		Amortization of deferred commission and other acquisition expenses		General and admin. expenses		Net premiums written
Diversified Reinsurance	$	20,240	$	90,697	$	51,598	$	83,015	$	—	$	54,714	$	29,018	$	15,976	$	82,521
AmTrust Reinsurance	359,964		2,290,981		1,179,284		1,909,644		—		1,498,881		614,777		3,052		1,954,856
Total - Reportable Segments	380,204		2,381,678		1,230,882		1,992,659		—		1,553,595		643,795		19,028		2,037,377
Other	—		5,044		—		—		124,135		1,838		2		33,976		—
Total	$	380,204	$	2,386,722	$	1,230,882	$	1,992,659	$	124,135	$	1,555,433	$	643,797	$	53,004	$	2,037,377



	December 31, 2016						For the Year Ended December 31, 2016
	Deferred commission and other acquisition expenses		Reserve for loss and loss adjustment expenses		Unearned premiums		Net premiums earned		Net investment income		Net loss and LAE		Amortization of deferred commission and other acquisition expenses			General and admin. expenses		Net premiums written
Diversified Reinsurance	$	20,424	$	75,451	$	48,158	$	81,967	$	—	$	51,795	$	31,249		$	15,543	$	79,243
AmTrust Reinsurance	339,173		1,757,728		1,151,633		1,843,621		—		1,225,830		584,820			2,896		1,888,428
Total - Reportable Segments	359,597		1,833,179		1,199,791		1,925,588		—		1,277,625		616,069			18,439		1,967,671
Other	—		12,228		—		—		108,689		11,887		(546		)	31,815		—
Total	$	359,597	$	1,845,407	$	1,199,791	$	1,925,588	$	108,689	$	1,289,512	$	615,523		$	50,254	$	1,967,671

Schedule IV Supplementary Reinsurance Information

12 Months Ended

Dec. 31, 2018

SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [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)
2018 Premiums – General Insurance	$	11,024	$	3,201	$	2,006,774	$	2,014,597	99.6	%
2017 Premiums – General Insurance	5,765		40,714		2,072,326		2,037,377		101.7	%
2016 Premiums – General Insurance	8,045		121,358		2,080,984		1,967,671		105.8	%

Schedule VI

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



	Net loss and LAE				Paid loss and LAE
For the Year Ended December 31,	Current Year		Prior Year		Paid loss and LAE
2018	$	1,431,484	$	448,637	$	1,163,766
2017	1,271,860		283,573		1,058,491
2016	1,158,435		131,077		958,530

Schedule VI Supplementary Reinsurance Information

12 Months Ended

Dec. 31, 2018

SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [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)
2018 Premiums – General Insurance	$	11,024	$	3,201	$	2,006,774	$	2,014,597	99.6	%
2017 Premiums – General Insurance	5,765		40,714		2,072,326		2,037,377		101.7	%
2016 Premiums – General Insurance	8,045		121,358		2,080,984		1,967,671		105.8	%

Schedule VI

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



	Net loss and LAE				Paid loss and LAE
For the Year Ended December 31,	Current Year		Prior Year		Paid loss and LAE
2018	$	1,431,484	$	448,637	$	1,163,766
2017	1,271,860		283,573		1,058,491
2016	1,158,435		131,077		958,530

Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2018

Accounting Policies [Abstract]

Basis of Reporting and Consolidation

Estimates

Investments


•	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

•


•	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: an investment in preference shares of a start-up insurance producer.

Cash and Cash Equivalents

Premiums and Related Expenses

2. Significant Accounting Policies (continued)

Assumed and ceded reinsurance contracts that lack a significant transfer of risk are treated as deposits. No deposit contracts are held as at December 31, 2018 and 2017.

Loss and Loss Adjustment Expenses Incurred

Reinsurance

Reinsurance — Reinsurance premiums and loss and LAE ceded to other companies are accounted for on a basis consistent with those used in accounting for original policies issued and pursuant to the terms of the reinsurance contracts. The Company records premiums earned and loss and LAE incurred and ceded to other companies as reduction of premium revenue and loss and LAE. The Company accounts for commissions allowed by reinsurers on business ceded as ceding commission, which is a reduction of acquisition costs and other underwriting expenses. The Company earns commissions on reinsurance premiums ceded in a manner consistent with the recognition of the premium earned on the underlying insurance policies, on a pro-rata basis over the terms of the policies reinsured. Reinsurance recoverable relate to the portion of reserves and paid loss and LAE that are ceded to other companies. The Company remains contingently liable for all loss payments in the event of failure to collect from reinsurers.Ceding Commissions on Reinsurance Transactions — Ceding commissions on reinsurance transactions are commissions the Company receives from ceding gross premiums written to third party reinsurers. The ceding commissions the Company receives cover a portion of its capitalized acquisition costs and a portion of other underwriting expenses. Ceding commissions received from reinsurance transactions that represent recovery of capitalized direct acquisition costs are recorded as a reduction of deferred acquisition costs and the net amount is charged to expense in proportion to net premium revenue recognized. Ceding commissions received from reinsurance transactions that represent the recovery of other underwriting expenses are recognized in the statement of income over the insurance contract period in proportion to the insurance protection provided and classified as a reduction of acquisition costs and other underwriting expenses. Ceding commissions received, but not yet earned, that represent the recovery of other underwriting expenses are classified as a component of accrued expenses and other liabilities. The Company allocates earned ceding commissions to its segments based on each segment’s proportionate share of total acquisition costs and other underwriting expenses recognized during the period.

Debt Obligations and Deferred Debt Issuance Costs

Goodwill and Intangible Assets

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. Finite 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. We have established October 1 as the date for performing the annual impairment tests or when “triggering events” occur or circumstances change that could potentially reduce the fair value of a reporting unit below its carrying amount. Goodwill is considered impaired if the carrying amount of the reporting unit exceeds the fair value. If goodwill or other intangible assets are impaired, they are written down to their estimated fair values with a corresponding loss reflected in the Consolidated Statements of Income.

Noncontrolling Interests

Income Taxes

Share-Based Compensation Expense

Earnings Per Share

Treasury Shares

Foreign Currency Transactions

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 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.

Recently Adopted and Issued Accounting Standards

Recently Adopted Accounting Standards Updates

Revenue Recognition

Scope of Modification Accounting

Recognition and Measurement of Financial Assets and Financial Liabilities

Classification of Certain Cash Receipts and Cash Payments

Presentation of Restricted Cash in the Statement of Cash Flows

2. Significant Accounting Policies (continued)

Recently Issued Accounting Standards Not Yet Adopted

Improvements to Non-employee Share-Based Payment Accounting

Codification Improvements to Topic 842, Leases

Changes to the Disclosure Requirements for Fair Value Measurement

2. Significant Accounting Policies (continued)

Premium Amortization on Purchased Callable Debt Securities

Accounting for Measurement of Credit Losses on Financial Instruments

Segment Information (Tables)

12 Months Ended

Dec. 31, 2018

Segment Reporting [Abstract]

Underwriting results of operating segments



For the Year Ended December 31, 2018	Diversified Reinsurance			AmTrust Reinsurance			Other			Total
Gross premiums written	$	131,518		$	1,886,280		$	—		$	2,017,798
Net premiums written	$	129,319		$	1,885,278		$	—		$	2,014,597
Net premiums earned	$	112,487		$	1,913,715		$	—		$	2,026,202
Other insurance revenue	9,681			—			—			9,681
Net loss and LAE	(71,441		)	(1,806,995		)	(1,685		)	(1,880,121		)
Commission and other acquisition expenses	(38,749		)	(615,991		)	—			(654,740		)
General and administrative expenses	(17,396		)	(3,845		)	—			(21,241		)
Underwriting loss	$	(5,418	)	$	(513,116	)	$	(1,685	)	(520,219		)
Reconciliation to net loss from continuing operations
Net investment income and realized losses on investment										134,756
Total other-than-temporary impairment loss										(5,832		)
Interest and amortization expenses										(19,318		)
Foreign exchange and other gains, net										4,461
Other general and administrative expenses										(43,699		)
Income tax expense										(441		)
Net loss from continuing operations										$	(450,292	)

Net loss and LAE ratio⁽¹⁾	58.5		%	94.4		%				92.3		%
Commission and other acquisition expense ratio⁽²⁾	31.7		%	32.2		%				32.2		%
General and administrative expense ratio⁽³⁾	14.2		%	0.2		%				3.2		%
Expense ratio⁽⁴⁾	45.9		%	32.4		%				35.4		%
Combined ratio⁽⁵⁾	104.4		%	126.8		%				127.7		%

3. Segment Information (continued)



For the Year Ended December 31, 2017	Diversified Reinsurance			AmTrust Reinsurance			Other			Total
Gross premiums written	$	84,613		$	1,993,478		$	—		$	2,078,091
Net premiums written	$	82,521		$	1,954,856		$	—		$	2,037,377
Net premiums earned	$	83,015		$	1,909,644		$	—		$	1,992,659
Other insurance revenue	9,802			—			—			9,802
Net loss and LAE	(54,714		)	(1,498,881		)	(1,838		)	(1,555,433		)
Commission and other acquisition expenses	(29,018		)	(614,777		)	(2		)	(643,797		)
General and administrative expenses	(15,976		)	(3,052		)	—			(19,028		)
Underwriting loss	$	(6,891	)	$	(207,066	)	$	(1,840	)	(215,797		)
Reconciliation to net loss from continuing operations
Net investment income and realized gains on investment										136,357
Interest and amortization expenses										(23,260		)
Accelerated amortization of senior note issuance cost										(2,809		)
Foreign exchange losses										(14,921		)
Other general and administrative expenses										(33,976		)
Income tax benefit										6,757
Net loss from continuing operations										$	(147,649	)

Net loss and LAE ratio⁽¹⁾	58.9		%	78.4		%				77.7		%
Commission and other acquisition expense ratio⁽²⁾	31.3		%	32.2		%				32.2		%
General and administrative expense ratio⁽³⁾	17.2		%	0.2		%				2.6		%
Expense ratio⁽⁴⁾	48.5		%	32.4		%				34.8		%
Combined ratio⁽⁵⁾	107.4		%	110.8		%				112.5		%

3. Segment Information (continued)



For the Year Ended December 31, 2016	Diversified Reinsurance			AmTrust Reinsurance			Other			Total
Gross premiums written	$	82,383		$	2,006,646		$	—		$	2,089,029
Net premiums written	$	79,243		$	1,888,428		$	—		$	1,967,671
Net premiums earned	$	81,967		$	1,843,621		$	—		$	1,925,588
Other insurance revenue	10,817			—			—			10,817
Net loss and LAE	(51,795		)	(1,225,830		)	(11,887		)	(1,289,512		)
Commission and other acquisition expenses	(31,249		)	(584,820		)	546			(615,523		)
General and administrative expenses	(15,543		)	(2,896		)	—			(18,439		)
Underwriting (loss) income	$	(5,803	)	$	30,075		$	(11,341	)	12,931
Reconciliation to net income from continuing operations
Net investment income and realized gains on investment										115,463
Interest and amortization expenses										(28,173		)
Accelerated amortization of senior note issuance cost										(2,345		)
Foreign exchange gains										13,412
Other general and administrative expenses										(31,815		)
Income tax expense										(413		)
Net income from continuing operations										$	79,060

Net loss and LAE ratio ⁽¹⁾	55.8		%	66.5		%				66.6		%
Commission and other acquisition expense ratio ⁽²⁾	33.7		%	31.7		%				31.8		%
General and administrative expense ratio ⁽³⁾	16.8		%	0.2		%				2.6		%
Expense ratio⁽⁴⁾	50.5		%	31.9		%				34.4		%
Combined ratio⁽⁵⁾	106.3		%	98.4		%				101.0		%


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


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


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


(4)	Calculated by adding together the commission and other acquisition expense ratio and general and administrative expense ratio.


(5)	Calculated by adding together the net loss and LAE ratio and the 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, 2018 and 2017:



December 31, 2018	Diversified Reinsurance		AmTrust Reinsurance		Total
Reinsurance balances receivable, net	$	29,030	$	38,278	$	67,308
Deferred commission and other acquisition expenses	18,405		370,037		388,442
Loan to related party	—		167,975		167,975
Restricted cash and cash equivalents and investments	114,220		3,918,810		4,033,030
Other assets	28,782		640		29,422
Total assets - reportable segments	190,437		4,495,740		4,686,177
Corporate assets	—		—		426,808
Assets held for sale	—		—		174,475
Total Assets	$	190,437	$	4,495,740	$	5,287,460

December 31, 2017	Diversified Reinsurance		AmTrust Reinsurance		Total
Reinsurance balances receivable, net	$	22,225	$	50,269	$	72,494
Deferred commission and other acquisition expenses	20,240		359,964		380,204
Loan to related party	—		167,975		167,975
Restricted cash and cash equivalents and investments	108,065		3,576,559		3,684,624
Other assets	17,108		104,216		121,324
Total assets - reportable segments	167,638		4,258,983		4,426,621
Corporate assets	—		—		315,750
Assets held for sale	—		—		1,901,818
Total Assets	$	167,638	$	4,258,983	$	6,644,189

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



For the Year Ended December 31,	2018		2017		2016
Gross premiums written – North America	$	1,591,745	$	1,750,145	$	1,700,164
Gross premiums written – Other (predominantly Europe)	426,053		327,946		388,865
Gross premiums written – Total	$	2,017,798	$	2,078,091	$	2,089,029
Net premiums written – North America	$	1,590,466	$	1,710,760	$	1,592,951
Net premiums written – Other (predominantly Europe)	424,131		326,617		374,720
Net premiums written – Total	$	2,014,597	$	2,037,377	$	1,967,671
Net premiums earned – North America	$	1,635,855	$	1,667,219	$	1,541,622
Net premiums earned – Other (predominantly Europe)	390,347		325,440		383,966
Net premiums earned – Total	$	2,026,202	$	1,992,659	$	1,925,588

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, 2018, 2017 and 2016:



For the Year Ended December 31,	2018				2017					2016
	Total		% of Total		Total			% of Total		Total		% of Total
Diversified Reinsurance
International	$	129,305	6.4	%	$	82,534		4.1	%	$	78,673	4.0	%
Other	14		—	%	(13		)	—	%	570		—	%
Total Diversified Reinsurance	129,319		6.4	%	82,521			4.1	%	79,243		4.0	%
AmTrust Reinsurance
Small Commercial Business	1,092,615		54.2	%	1,278,974			62.8	%	1,181,496		60.1	%
Specialty Program	336,847		16.7	%	350,113			17.1	%	344,677		17.5	%
Specialty Risk and Extended Warranty	455,816		22.7	%	325,769			16.0	%	362,255		18.4	%
Total AmTrust Reinsurance	1,885,278		93.6	%	1,954,856			95.9	%	1,888,428		96.0	%
	$	2,014,597	100.0	%	$	2,037,377		100.0	%	$	1,967,671	100.0	%

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, 2018, 2017 and 2016:



For the Year Ended December 31,	2018				2017					2016
	Total		% of Total		Total			% of Total		Total		% of Total
Diversified Reinsurance
International	$	112,473	5.5	%	$	83,027		4.2	%	$	80,782	4.2	%
Other	14		—	%	(12		)	—	%	1,185		0.1	%
Total Diversified Reinsurance	112,487		5.5	%	83,015			4.2	%	81,967		4.3	%
AmTrust Reinsurance
Small Commercial Business	1,167,581		57.6	%	1,255,941			63.0	%	1,131,582		58.8	%
Specialty Program	345,805		17.1	%	344,336			17.3	%	337,396		17.5	%
Specialty Risk and Extended Warranty	400,329		19.8	%	309,367			15.5	%	374,643		19.4	%
Total AmTrust Reinsurance	1,913,715		94.5	%	1,909,644			95.8	%	1,843,621		95.7	%
	$	2,026,202	100.0	%	$	1,992,659		100.0	%	$	1,925,588	100.0	%

Investments (Tables)

12 Months Ended

Dec. 31, 2018

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 our fixed maturities at December 31, 2018 and 2017, are as follows:



December 31, 2018	Original or amortized cost		Gross unrealized gains		Gross unrealized losses			Fair value
AFS fixed maturities:
U.S. treasury bonds	$	138,625	$	448	$	(1	)	$	139,072
U.S. agency bonds – mortgage-backed	1,485,716		3,491		(36,073		)	1,453,134
U.S. agency bonds – other	129,741		40		(548		)	129,233
Non-U.S. government and supranational bonds	11,212		66		(1,206		)	10,072
Asset-backed securities	216,072		425		(1,415		)	215,082
Corporate bonds	1,128,614		6,525		(30,164		)	1,104,975
Total AFS fixed maturities	3,109,980		10,995		(69,407		)	3,051,568
HTM fixed maturities:
Corporate bonds	957,845		3,872		(20,990		)	940,727
Municipal bonds	57,836		—		(551		)	57,285
Total HTM fixed maturities	1,015,681		3,872		(21,541		)	998,012
Total fixed maturity investments	$	4,125,661	$	14,867	$	(90,948	)	$	4,049,580



December 31, 2017	Original or amortized cost		Gross unrealized gains		Gross unrealized losses			Fair value
AFS fixed maturities:
U.S. treasury bonds	$	35,093	$	4	$	—		$	35,097
U.S. agency bonds – mortgage-backed	1,475,682		6,181		(13,723		)	1,468,140
U.S. agency bonds – other	19,868		—		(149		)	19,719
Non-U.S. government and supranational bonds	32,380		231		(1,713		)	30,898
Asset-backed securities	225,015		3,457		(79		)	228,393
Corporate bonds	911,259		28,423		(14,413		)	925,269
Total AFS fixed maturities	2,699,297		38,296		(30,077		)	2,707,516
HTM fixed maturities:
Corporate bonds	1,037,464		28,694		(913		)	1,065,245
Municipal bonds	60,337		128		(84		)	60,381
Total HTM fixed maturities	1,097,801		28,822		(997		)	1,125,626
Total fixed maturity investments	$	3,797,098	$	67,118	$	(31,074	)	$	3,833,142

Contractual maturities of fixed maturities, available-for-sale



	AFS fixed maturities				HTM fixed maturities
December 31, 2018	Amortized cost		Fair value		Amortized cost		Fair value
Maturity
Due in one year or less	$	130,857	$	130,756	$	2,020	$	2,021
Due after one year through five years	715,233		703,347		394,875		391,709
Due after five years through ten years	562,102		549,249		618,786		604,282
	1,408,192		1,383,352		1,015,681		998,012
U.S. agency bonds – mortgage-backed	1,485,716		1,453,134		—		—
Asset-backed securities	216,072		215,082		—		—
Total fixed maturities	$	3,109,980	$	3,051,568	$	1,015,681	$	998,012

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, 2018	Fair value		Unrealized losses			Fair value		Unrealized losses			Fair value		Unrealized losses
Fixed maturities
U.S. treasury bonds	$	125	$	(1	)	$	—	$	—		$	125	$	(1	)
U.S. agency bonds – mortgage-backed	416,147		(6,624		)	838,091		(29,449		)	1,254,238		(36,073		)
U.S. agency bonds – other	26,838		(27		)	17,462		(521		)	44,300		(548		)
Non-U.S. government and supranational bonds	4,024		(252		)	3,770		(954		)	7,794		(1,206		)
Asset-backed securities	74,801		(1,196		)	5,793		(219		)	80,594		(1,415		)
Corporate bonds	1,052,765		(30,334		)	286,542		(20,820		)	1,339,307		(51,154		)
Municipal bonds	20,379		(261		)	36,906		(290		)	57,285		(551		)
Total temporarily impaired fixed maturities	$	1,595,079	$	(38,695	)	$	1,188,564	$	(52,253	)	$	2,783,643	$	(90,948	)



	Less than 12 Months					12 Months or More					Total
December 31, 2017	Fair value		Unrealized losses			Fair value		Unrealized losses			Fair value		Unrealized losses
Fixed maturities
U.S. agency bonds – mortgage-backed	$	632,142	$	(5,299	)	$	327,339	$	(8,424	)	$	959,481	$	(13,723	)
U.S. agency bonds – other	19,718		(149		)	—		—			19,718		(149		)
Non-U.S. government and supranational bonds	1,909		(2		)	25,192		(1,711		)	27,101		(1,713		)
Asset-backed securities	12,408		(30		)	3,017		(49		)	15,425		(79		)
Corporate bonds	161,661		(1,557		)	290,592		(13,769		)	452,253		(15,326		)
Municipal bonds	39,492		(84		)	—		—			39,492		(84		)
Total temporarily impaired fixed maturities	$	867,330	$	(7,121	)	$	646,140	$	(23,953	)	$	1,513,470	$	(31,074	)

Summary of the credit ratings of fixed maturities

The following summarizes the credit ratings of our fixed maturities:



Ratings⁽¹⁾ at December 31, 2018	Amortized cost		Fair value		% of Total fair value
U.S. treasury bonds	$	138,625	$	139,072	3.4	%
U.S. agency bonds	1,615,457		1,582,367		39.1	%
AAA	137,172		135,119		3.3	%
AA+, AA, AA-	183,142		178,674		4.4	%
A+, A, A-	1,132,993		1,113,710		27.5	%
BBB+, BBB, BBB-	866,043		848,348		21.0	%
BB+ or lower	52,229		52,290		1.3	%
Total fixed maturities	$	4,125,661	$	4,049,580	100.0	%



Ratings⁽¹⁾ at December 31, 2017	Amortized cost		Fair value		% of Total fair value
U.S. treasury bonds	$	35,093	$	35,097	0.9	%
U.S. agency bonds	1,495,550		1,487,859		38.8	%
AAA	156,631		159,682		4.2	%
AA+, AA, AA-	146,264		147,054		3.8	%
A+, A, A-	1,089,230		1,106,430		28.9	%
BBB+, BBB, BBB-	824,351		845,244		22.1	%
BB+ or lower	49,979		51,776		1.3	%
Total fixed maturities	$	3,797,098	$	3,833,142	100.0	%

⁽¹⁾

Based on Standard & Poor’s ("S&P"), or equivalent, ratings

Portfolio of other investments

The table below shows our portfolio of other investments:



December 31,	2018				2017
	Fair value		% of Total fair value		Fair value		% of Total fair value
Investment in limited partnerships	$	3,833	16.2	%	$	5,100	77.3	%
Investment in special purpose vehicles focused on lending activities	18,383		77.5	%	—		—	%
Other	1,500		6.3	%	1,500		22.7	%
Total other investments	$	23,716	100.0	%	$	6,600	100.0	%

Net investment income

Net investment income was derived from the following sources:



For the Year Ended December 31,	2018			2017			2016
Fixed maturities	$	130,333		$	124,415		$	109,808
Cash and cash equivalents	2,123			1,973			1,628
Loan to related party	6,442			3,447			2,360
Other	1,736			1,833			1,818
	140,634			131,668			115,614
Investment expenses	(4,349		)	(7,533		)	(6,925		)
Net investment income	$	136,285		$	124,135		$	108,689

Analysis of realized and unrealized gains on investment

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



For the Year Ended December 31, 2018	Gross gains		Gross losses			Net
AFS fixed maturities	$	9,314	$	(13,118	)	$	(3,804	)
Other investments	2,275		—			2,275
Net realized gains (losses) on investment	$	11,589	$	(13,118	)	$	(1,529	)



For the Year Ended December 31, 2017	Gross gains		Gross losses			Net
AFS fixed maturities	$	7,598	$	(1,254	)	$	6,344
Other investments	5,878		—			5,878
Net realized gains (losses) on investment	$	13,476	$	(1,254	)	$	12,222



For the Year Ended December 31, 2016	Gross gains		Gross losses			Net
AFS fixed maturities	$	7,140	$	(916	)	$	6,224
Other investments	550		—			550
Net realized gains (losses) on investment	$	7,690	$	(916	)	$	6,774

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

Net unrealized (losses) gains on investments, including those allocated to discontinued operations and classified as held for sale, were as follows:



December 31,	2018			2017			2016
Fixed maturities	$	(59,729	)	$	20,586		$	(23,635	)
Other investments	—			1,381			3,003
Total net unrealized (losses) gains	(59,729		)	21,967			(20,632		)
Deferred income tax	(33		)	(78		)	(84		)
Net unrealized (losses) gains, net of deferred income tax	$	(59,762	)	$	21,889		$	(20,716	)
Change, net of deferred income tax	$	(81,651	)	$	42,605		$	33,396

Fair value of restricted assets

The fair value of our restricted assets was as follows:



December 31,	2018		2017
Restricted cash – third party agreements	$	21,420	$	21,889
Restricted cash – related party agreements	108,728		73,016
Total restricted cash	130,148		94,905
Restricted investments – in trust for third party agreements at fair value (amortized cost: 2018 – $88,841; 2017 – $212,507)	89,596		211,331
Restricted investments AFS – in trust for related party agreements at fair value (amortized cost: 2018 – $2,860,403; 2017 – $2,281,668)	2,806,203		2,294,367
Restricted investments HTM – in trust for related party agreements at fair value (amortized cost: 2018 – $1,015,681; 2017 – $1,097,801)	998,012		1,125,626
Total restricted investments	3,893,811		3,631,324
Total restricted cash and investments	$	4,023,959	$	3,726,229

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2018

Fair Value Disclosures [Abstract]

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

At December 31, 2018 and 2017, we classified our financial instruments measured at fair value on a recurring basis in the following valuation hierarchy:



December 31, 2018	Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)			Fair Value Based on NAV Practical Expedient			Total Fair Value
AFS fixed maturities
U.S. treasury bonds	$	139,072		$	—		$	—		$	—		$	139,072
U.S. agency bonds – mortgage-backed	—			1,453,134			—			—			1,453,134
U.S. agency bonds – other	—			129,233			—			—			129,233
Non-U.S. government and supranational bonds	—			10,072			—			—			10,072
Asset-backed securities	—			215,082			—			—			215,082
Corporate bonds	—			1,104,975			—			—			1,104,975
Other investments	—			—			19,883			3,833			23,716
Total	$	139,072		$	2,912,496		$	19,883		$	3,833		$	3,075,284
As a percentage of total assets	2.6		%	55.1		%	0.4		%	0.1		%	58.2		%



December 31, 2017	Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)			Fair Value Based on NAV Practical Expedient			Total Fair Value
AFS fixed maturities
U.S. treasury bonds	$	35,097		$	—		$	—		$	—		$	35,097
U.S. agency bonds – mortgage-backed	—			1,468,140			—			—			1,468,140
U.S. agency bonds – other	—			19,719			—			—			19,719
Non-U.S. government and supranational bonds	—			30,898			—			—			30,898
Asset-backed securities	—			228,393			—			—			228,393
Corporate bonds	—			925,269			—			—			925,269
Other investments	—			—			1,500			5,100			6,600
Total	$	35,097		$	2,672,419		$	1,500		$	5,100		$	2,714,116
As a percentage of total assets	0.5		%	40.2		%	—		%	0.1		%	40.8		%

Carrying values of financial instruments not measured at fair value

The following table presents the fair value and carrying value of the financial instruments not measured at fair value:



	December 31, 2018				December 31, 2017
	Carrying Value		Fair Value		Carrying Value		Fair Value
Financial Assets
HTM – corporate bonds	$	957,845	$	940,727	$	1,037,464	$	1,065,245
HTM - municipal bonds	57,836		57,285		60,337		60,381
Total financial assets	$	1,015,681	$	998,012	$	1,097,801	$	1,125,626

Financial Liabilities
Senior Notes - MHLA – 6.625%	$	110,000	$	75,240	$	110,000	$	101,200
Senior Notes - MHNC – 7.75%	152,500		143,960		152,500		149,029
Total financial liabilities	$	262,500	$	219,200	$	262,500	$	250,229

Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2018

Discontinued Operations and Disposal Groups [Abstract]

Schedule of disposal groups, including discontinued operations, balance sheet, income statement disclosures

The following table summarizes the components of assets and liabilities classified as held for sale on the Company's Consolidated Balance Sheet as at December 31, 2018 and 2017:

6. Discontinued Operations (continued)



	2018		2017
ASSETS
Fixed maturities, available-for-sale, at fair value	$	63,560	$	1,336,854
Cash and cash equivalents	—		13,449
Restricted cash and cash equivalents	6,113		28,679
Accrued investment income	—		6,195
Reinsurance balances receivable, net	689		272,549
Reinsurance recoverable on unpaid losses	70,158		92,728
Deferred commission and other acquisition expenses	—		59,393
Goodwill and intangible assets, net	—		75,583
Other assets	33,955		16,388
Total assets held for sale	$	174,475	$	1,901,818
LIABILITIES
Reserve for loss and loss adjustment expenses	$	76,521	$	1,160,526
Unearned premiums	—		246,156
Accrued expenses and other liabilities	79,440		42,726
Total liabilities held for sale	$	155,961	$	1,449,408

The following table summarizes the major classes of line items constituting the net loss from discontinued operations for the years ended December 31, 2018, 2017 and 2016:



For the Year Ended December 31,	2018			2017			2016
Gross premiums written	$	493,862		$	737,960		$	742,319
Net premiums written	$	479,577		$	724,611		$	687,281
Net premiums earned	$	618,265		$	740,120		$	642,562
Net investment income	39,265			42,210			37,203
Net loss and loss adjustment expenses	(474,711		)	(604,578		)	(530,394		)
Commission and other acquisition expenses	(142,946		)	(176,961		)	(158,141		)
General and administrative expenses	(26,739		)	(17,556		)	(16,730		)
Amortization of intangible assets	(1,387		)	(2,132		)	(2,461		)
Impairment of goodwill	—			—			(1,800		)
Income (loss) from discontinued operations	11,747			(18,897		)	(29,761		)
Loss on disposal of discontinued operations	(113,294		)	—			—
Loss from discontinued operations before income taxes	(101,547		)	(18,897		)	(29,761		)
Income tax benefit (expense)	7,434			(3,199		)	(1,161		)
Net loss from discontinued operations, after income taxes	$	(94,113	)	$	(22,096	)	$	(30,922	)

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=109226691&loc=SL51724579-110230

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
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-SubTopic 20
-Section 50
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-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721677-107760

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 20
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=109222160&loc=SL51721533-107759

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721659-107760

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721665-107760

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
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-URI http://asc.fasb.org/extlink&oid=109226691&loc=d3e2941-110230

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
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Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
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-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721683-107760

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=109222650&loc=d3e1361-107760

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
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-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721671-107760

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
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-Section 50
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-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721673-107760

Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 4A
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721663-107760

+ Details

Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in goodwill and intangible assets

The following table shows the change in the carrying value of goodwill and intangible assets previously held by the Company:



	Goodwill			Intangible Assets			Total
December 31, 2016	$	57,192		$	20,523		$	77,715
Amortization	—			(2,132		)	(2,132		)
December 31, 2017	$	57,192		$	18,391		$	75,583
Amortization	—			(1,387		)	(1,387		)
Impairment losses	(57,192		)	(17,004		)	(74,196		)
December 31, 2018	$	—		$	—		$	—

Goodwill and intangible assets

The following tables show the analysis of goodwill and intangible assets that are included in the balance sheet as a component of assets held for sale at December 31, 2017:



December 31, 2017	Gross		Accumulated Amortization			Accumulated Impairment			Net		Useful Life
Goodwill	$	58,992	$	—		$	(1,800	)	$	57,192	Indefinite
State licenses	4,527		—			—			4,527		Indefinite
Customer relationships	51,400		(37,536		)	—			13,864		15 years double declining
Net balance	$	114,919	$	(37,536	)	$	(1,800	)	$	75,583

Reserve for Loss and Loss Adjustment Expenses (Tables)

12 Months Ended

Dec. 31, 2018

Insurance [Abstract]

Schedule of liability for unpaid claims and claims adjustment expense

Our reserve for loss and LAE comprises:



December 31,	2018		2017
Reserve for reported loss and LAE	$	1,571,217	$	1,393,560
Reserve for losses incurred but not reported ("IBNR")	1,484,759		993,162
Reserve for loss and LAE	$	3,055,976	$	2,386,722

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



For the Year Ended December 31,	2018			2017			2016
Gross loss and LAE reserves, January 1	$	2,386,722		$	1,845,407		$	1,521,364
Less: reinsurance recoverable on unpaid losses, January 1	24,883			35,948			18,279
Net loss and LAE reserves, January 1	2,361,839			1,809,459			1,503,085
Net incurred losses related to:
Current year	1,431,484			1,271,860			1,158,435
Prior years	448,637			283,573			131,077
	1,880,121			1,555,433			1,289,512
Net paid losses related to:
Current year	(440,315		)	(406,883		)	(274,358		)
Prior years	(723,451		)	(651,608		)	(684,172		)
	(1,163,766		)	(1,058,491		)	(958,530		)
Effect of foreign exchange rate movements	(23,961		)	55,438			(24,608		)
Net loss and LAE reserves, December 31	3,054,233			2,361,839			1,809,459
Reinsurance recoverable on unpaid losses, December 31	1,743			24,883			35,948
Gross loss and LAE reserves, December 31	$	3,055,976		$	2,386,722		$	1,845,407

The following table summarizes the adverse prior period development experienced in each of our reportable segments for the years ended December 31, 2018, 2017, and 2016:



For the Year Ended	Diversified Reinsurance			AmTrust Reinsurance			Other			Total
December 31, 2018	$	(2,326	)	$	(399,200	)	$	(1,685	)	$	(403,211	)
December 31, 2017	(5,441		)	(239,896		)	(1,838		)	(247,175		)
December 31, 2016	(11,082		)	(54,000		)	(11,887		)	(76,969		)

Schedule of incurred losses and LAE and cumulative paid losses and LAE

Diversified Reinsurance - International

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



Diversified Reinsurance - International	Incurred losses and loss adjustment expenses, net of reinsurance																At December 31, 2018
For the Year Ended December 31,	2011		2012		2013		2014		2015		2016		2017		2018		Total IBNR
Accident Year:	Unaudited		Unaudited		Unaudited		Unaudited		Unaudited		Unaudited		Unaudited
2010	$	80,309	$	79,698	$	79,623	$	79,440	$	77,749	$	79,872	$	81,917	$	81,610	$	(950	)
2011	50,633		49,231		49,239		49,443		49,397		49,221		49,611		49,857		(52		)
2012			51,171		49,440		49,751		49,873		49,941		50,196		49,915		32
2013					45,565		50,843		52,223		51,760		52,366		52,586		(84		)
2014							42,993		48,917		48,839		48,758		48,531		192
2015									43,329		44,751		45,274		44,711		(689		)
2016											39,081		41,003		40,341		(235		)
2017													37,327		36,779		2,904
2018															45,049		16,451
Total															$	449,379	$	17,569
	Cumulative paid losses and LAE, net of reinsurance
For the Year Ended December 31,	2011		2012		2013		2014		2015		2016		2017		2018
Accident Year:	Unaudited		Unaudited		Unaudited		Unaudited		Unaudited		Unaudited		Unaudited
2010	$	34,632	$	43,597	$	48,397	$	50,206	$	51,840	$	53,390	$	54,921	$	56,603
2011	24,853		45,999		47,660		48,943		49,372		49,604		49,747		49,861
2012			24,061		41,099		43,554		44,677		45,010		45,577		45,691
2013					24,653		44,322		46,873		48,240		48,708		48,923
2014							24,037		42,577		44,886		46,128		46,385
2015									22,007		39,829		41,919		42,951
2016											22,739		36,963		38,793
2017													19,345		33,765
2018															20,824
Total															383,796
Total net reserves															$	65,583

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

Diversified Reinsurance - European Capital Solutions



Diversified Reinsurance - European Capital Solutions	Incurred losses and loss adjustment expenses, net of reinsurance						At December 31, 2018
For the Year Ended December 31,	2016		2017		2018		Total IBNR
Accident Year:	Unaudited		Unaudited
2016	$	4,921	$	4,996	$	5,381	$	452
2017			8,732		10,054		2,832
2018					22,119		11,096
Total					$	37,554	$	14,380
	Cumulative paid losses and LAE, net of reinsurance
For the Year Ended December 31,	2016		2017		2018
Accident Year:	Unaudited		Unaudited
2016	$	798	$	2,372	$	3,357
2017			1,963		4,114
2018					3,241
Total					10,712
Total net reserves					$	26,842

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

AmTrust Reinsurance: Workers’ Compensation



AmTrust Reinsurance Workers' Compensation	Incurred losses and loss adjustment expenses, net of reinsurance																At December 31, 2018
For the Year Ended December 31,	2011		2012		2013		2014		2015		2016		2017		2018		Total IBNR
Accident Year:	Unaudited		Unaudited		Unaudited		Unaudited		Unaudited		Unaudited		Unaudited
2008	$	80,800	$	81,493	$	82,438	$	81,240	$	82,301	$	83,039	$	83,622	$	84,710	$	852
2009	102,240		102,245		103,864		109,213		106,204		105,901		107,165		110,175		2,671
2010	106,799		113,880		118,209		120,243		125,020		124,073		123,968		127,215		4,538
2011	104,923		125,549		130,712		132,728		133,995		133,916		135,379		138,600		5,898
2012			136,960		168,016		173,946		171,040		172,692		181,616		192,087		12,904
2013					237,019		245,765		238,392		242,447		261,915		276,249		24,268
2014							379,589		365,515		382,260		419,748		457,363		47,331
2015									474,140		474,212		526,269		551,145		67,629
2016											528,906		568,006		627,728		113,373
2017													615,957		654,362		189,557
2018															592,566		264,984
Total															$	3,812,200	$	734,005
	Cumulative paid losses and LAE, net of reinsurance
For the Year Ended December 31,	2011		2012		2013		2014		2015		2016		2017		2018
Accident Year:	Unaudited		Unaudited		Unaudited		Unaudited		Unaudited		Unaudited		Unaudited
2008	$	68,400	$	72,823	$	76,018	$	77,370	$	78,161	$	79,230	$	81,159	$	82,436
2009	71,963		83,464		89,462		93,425		96,396		98,811		100,103		101,823
2010	61,322		82,614		95,120		103,280		108,171		114,639		115,014		115,959
2011	33,089		69,357		91,414		105,584		114,107		115,966		122,579		124,315
2012			45,030		88,382		119,059		138,706		150,543		158,807		164,512
2013					56,249		121,182		168,785		199,300		216,527		227,502
2014							69,512		189,954		268,467		321,258		355,414
2015									86,695		246,616		338,642		388,640
2016											110,051		284,501		380,602
2017													111,508		274,596
2018															110,954
Total															2,326,753
			All outstanding liabilities prior to 2008, net of reinsurance												1,340
Total net reserves															$	1,486,787

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

AmTrust Reinsurance: General Liability



AmTrust Reinsurance General Liability	Incurred losses and loss adjustment expenses, net of reinsurance																At December 31, 2018
For the Year Ended December 31,	2011		2012		2013		2014		2015		2016		2017		2018		Total IBNR
Accident Year:	Unaudited		Unaudited		Unaudited		Unaudited		Unaudited		Unaudited		Unaudited
2008	$	28,786	$	31,921	$	33,051	$	33,792	$	34,169	$	35,985	$	36,627	$	37,605	$	558
2009	19,311		28,384		29,123		30,902		32,418		34,040		34,863		35,138		512
2010	15,783		28,850		34,761		36,455		38,536		38,298		41,597		42,884		400
2011	11,334		24,731		35,628		40,557		42,100		45,303		49,338		52,746		85
2012			21,281		33,445		42,450		48,851		50,800		55,991		59,948		(373		)
2013					42,021		43,116		66,869		68,641		79,731		89,204		4,239
2014							65,469		66,558		77,930		99,873		111,970		10,930
2015									118,111		95,766		122,942		139,518		21,911
2016											98,149		114,864		120,911		30,371
2017													116,158		133,533		59,757
2018															121,991		87,555
Total															$	945,448	$	215,945

	Cumulative paid losses and LAE, net of reinsurance
For the Year Ended December 31,	2011		2012		2013		2014		2015		2016		2017		2018
Accident Year:	Unaudited		Unaudited		Unaudited		Unaudited		Unaudited		Unaudited		Unaudited
2008	$	20,935	$	26,288	$	29,384	$	32,849	$	32,423	$	32,765	$	34,935	$	36,699
2009	7,840		13,904		19,727		24,298		28,312		30,924		32,878		33,473
2010	5,140		11,187		19,010		26,429		30,948		34,125		37,317		39,214
2011	2,813		6,072		12,158		22,963		31,619		39,350		41,257		47,141
2012			5,084		13,224		18,020		29,752		40,864		45,775		53,526
2013					4,996		10,226		32,249		44,698		58,377		70,074
2014							3,503		24,581		36,026		57,678		77,259
2015									20,849		33,963		52,350		79,291
2016											6,402		21,959		45,855
2017													6,967		27,001
2018															7,907
Total															517,440
			All outstanding liabilities prior to 2008, net of reinsurance												96
Total net reserves															$	428,104

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

AmTrust Reinsurance: Commercial Auto Liability

Our initial underwriting year loss projections are generally based on the ELR method, derived from historical performance after the consideration of loss and premium trends. This proportional exposure is relatively short tailed, and the transition to the BF and the LD methods happens relatively quickly, within the first several years.



AmTrust Reinsurance Commercial Auto Liability	Incurred losses and loss adjustment expenses, net of reinsurance																	At December 31, 2018
For the Year Ended December 31,	2011		2012		2013		2014		2015		2016		2017		2018			Total IBNR
Accident Year:	Unaudited		Unaudited		Unaudited		Unaudited		Unaudited		Unaudited		Unaudited
2008	$	29,890	$	32,769	$	33,700	$	34,522	$	34,584	$	35,975	$	35,521	$	35,382		$	(86	)
2009	22,183		26,275		28,551		30,812		31,024		30,468		30,919		31,033			522
2010	26,239		33,457		37,154		38,043		40,193		40,523		42,146		41,996			1,657
2011	16,193		24,292		29,577		32,578		33,839		34,790		36,149		36,065			2,122
2012			20,863		32,691		40,076		44,812		48,116		46,150		45,753			(159		)
2013					33,473		44,771		50,647		59,702		63,162		62,163			(86		)
2014							47,525		55,023		73,966		82,427		89,299			(195		)
2015									66,967		92,955		106,560		119,141			8,164
2016											121,828		118,210		144,077			19,594
2017													156,575		189,257			63,652
2018															177,150			104,045
Total															$	971,316		$	199,230

	Cumulative paid losses and LAE, net of reinsurance
For the Year Ended December 31,	2011		2012		2013		2014		2015		2016		2017		2018
Accident Year:	Unaudited		Unaudited		Unaudited		Unaudited		Unaudited		Unaudited		Unaudited
2008	$	25,207	$	29,386	$	30,975	$	32,643	$	33,536	$	34,074	$	34,803	$	35,284
2009	14,532		18,736		22,959		26,975		29,226		29,829		29,842		30,204
2010	14,203		21,050		28,602		34,855		37,734		39,413		39,750		40,282
2011	5,721		12,333		18,813		25,808		29,769		32,362		33,130		33,155
2012			6,693		14,979		26,508		35,460		43,745		44,165		45,555
2013					8,267		19,865		34,379		48,122		57,349		59,600
2014							8,450		22,858		42,960		64,459		79,766
2015									13,102		39,179		62,945		86,433
2016											19,071		48,595		76,635
2017													26,863		69,657
2018															30,018
Total															586,589
			All outstanding liabilities prior to 2008, net of reinsurance												(19		)
Total net reserves															$	384,708

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

AmTrust Reinsurance: European Hospital Liability



AmTrust Reinsurance European Hospital Liability	Incurred losses and loss adjustment expenses, net of reinsurance																At December 31, 2018
For the Year Ended December 31,	2011		2012		2013		2014		2015		2016		2017		2018		Total IBNR
Accident Year:	Unaudited		Unaudited		Unaudited		Unaudited		Unaudited		Unaudited		Unaudited
2011	$	50,395	$	23,539	$	36,438	$	50,344	$	47,888	$	65,940	$	63,939	$	61,308	$	(1,161	)
2012			80,912		82,465		81,665		104,716		93,673		88,696		114,627		4,749
2013					49,712		62,456		65,152		85,591		78,261		100,312		4,522
2014							51,720		54,462		58,335		64,909		81,846		5,846
2015									48,219		46,815		60,954		67,018		5,329
2016											45,146		51,973		68,023		8,942
2017													41,562		52,954		13,172
2018															45,244		21,425
Total															$	591,332	$	62,824

	Cumulative paid losses and LAE, net of reinsurance
For the Year Ended December 31,	2011		2012		2013		2014		2015		2016		2017		2018
Accident Year:	Unaudited		Unaudited		Unaudited		Unaudited		Unaudited		Unaudited		Unaudited
2011	$	1,113	$	4,408	$	13,005	$	23,865	$	29,193	$	36,272	$	41,966	$	46,220
2012			4,877		15,593		35,487		46,221		59,425		70,069		78,214
2013					3,030		15,243		26,225		40,015		50,302		56,372
2014							4,265		12,014		24,974		35,544		39,884
2015									3,522		11,200		23,124		29,511
2016											3,634		10,796		17,888
2017													1,297		4,479
2018															934
Total															273,502
Total net reserves															$	317,830

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

AmTrust Reinsurance: All Other Lines



AmTrust Reinsurance All Other Lines	Incurred losses and loss adjustment expenses, net of reinsurance																	At December 31, 2018
For the Year Ended December 31,	2011		2012		2013		2014		2015		2016		2017		2018			Total IBNR
Accident Year:	Unaudited		Unaudited		Unaudited		Unaudited		Unaudited		Unaudited		Unaudited
2008	$	27,630	$	28,724	$	28,715	$	29,149	$	29,237	$	29,070	$	29,576	$	29,574		$	58
2009	12,516		20,349		11,959		13,329		14,309		14,492		16,088		15,653			397
2010	14,440		15,182		24,718		15,484		16,078		16,105		17,071		17,059			1,213
2011	18,822		19,948		26,343		27,509		22,359		22,616		23,376		23,506			1,157
2012			14,697		18,443		19,426		21,898		18,673		19,850		20,260			1,961
2013					17,806		17,630		28,058		22,918		21,313		21,669			1,535
2014							20,597		25,268		26,021		24,958		26,278			341
2015									52,706		54,857		49,631		49,463			7,284
2016											79,654		74,948		72,384			6,203
2017													104,637		96,812			10,796
2018															96,910			10,431
Total															$	469,568		$	41,376

	Cumulative paid losses and LAE, net of reinsurance
For the Year Ended December 31,	2011		2012		2013		2014		2015		2016		2017		2018
Accident Year:	Unaudited		Unaudited		Unaudited		Unaudited		Unaudited		Unaudited		Unaudited
2008	$	25,776	$	29,710	$	29,900	$	31,217	$	29,388	$	29,177	$	30,833	$	30,683
2009	7,891		8,084		8,743		11,093		13,105		13,870		15,224		15,051
2010	12,373		12,332		13,012		15,375		15,748		16,058		16,919		16,786
2011	13,840		16,424		17,571		21,279		22,044		22,715		23,892		23,661
2012			10,308		14,031		16,033		16,936		17,946		18,205		18,685
2013					11,877		15,997		17,509		20,258		20,456		20,447
2014							12,028		20,277		20,940		22,018		26,194
2015									28,929		45,208		42,631		41,962
2016											42,795		69,805		65,452
2017													48,903		80,726
2018															56,539
Total															396,186
			All outstanding liabilities prior to 2008, net of reinsurance												(1		)
Total net reserves															$	73,381

Reconciliation of claims development to liability

The following table represents a reconciliation of the net incurred and paid claims development tables to the reserve for loss and LAE in the Consolidated Balance Sheet at December 31, 2018:



	December 31, 2018
	Total Net Reserves		Reinsurance Recoverables on unpaid claims		Total Gross Reserves
Diversified Reinsurance
International	$	65,583	$	1,743	$	67,326
European Capital Solutions	26,842		—		26,842
Other reconciling items	11,421		—		11,421
Total Diversified Reinsurance - Segment	103,846		1,743		105,589

AmTrust Reinsurance
Workers' Compensation	1,486,787		—		1,486,787
General Liability	428,104		—		428,104
Commercial Auto Liability	384,708		—		384,708
European Hospital Liability	317,830		—		317,830
All Other Lines	73,381		—		73,381
Total	2,690,810		—		2,690,810
Other reconciling items	256,737		—		256,737
Total AmTrust Reinsurance - Segment	2,947,547		—		2,947,547

Other	2,840		—		2,840
Total reserves and LAE	$	3,054,233	$	1,743	$	3,055,976

Schedule of average annual payout of net loss and LAE



	Average annual payout of incurred claims by age, net of reinsurance
	Year 1		Year 2		Year 3		Year 4		Year 5		Year 6		Year 7		Year 8
Diversified Reinsurance
International	50.0	%	39.0	%	4.0	%	2.0	%	—	%	—	%	1.0	%	4.0	%
European Capital Solutions	16.1	%	26.0	%	20.4	%	—	%	—	%	—	%	—	%	—	%
AmTrust Reinsurance
Workers' Compensation	19.0	%	25.8	%	16.4	%	10.3	%	6.2	%	3.3	%	3.3	%	1.1	%
General Liability	6.8	%	11.7	%	14.5	%	18.3	%	16.6	%	11.1	%	8.5	%	7.2	%
Commercial Auto Liability	13.5	%	19.6	%	21.5	%	19.7	%	14.5	%	6.2	%	4.7	%	1.4	%
European Hospital Liability	3.7	%	9.2	%	14.4	%	12.7	%	8.9	%	9.0	%	8.2	%	6.9	%
All other lines	54.7	%	26.2	%	1.8	%	5.8	%	8.1	%	3.1	%	4.6	%	0.9	%

Long-Term Debt Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2018

Debt Disclosure [Abstract]

Senior Note Issuances

The following table details the Company's Senior Notes issuances outstanding at December 31, 2018 and 2017:



December 31, 2018	2016 Senior Notes			2013 Senior Notes			Total
Principal amount	$	110,000		$	152,500		$	262,500
Less: unamortized issuance costs	3,610			4,196			7,806
Carrying value	$	106,390		$	148,304		$	254,694

December 31, 2017	2016 Senior Notes			2013 Senior Notes			Total
Principal amount	$	110,000		$	152,500		$	262,500
Less: unamortized issuance costs	3,654			4,364			8,018
Carrying value	$	106,346		$	148,136		$	254,482

Other details:
Original debt issuance costs	$	3,715		$	5,054
Maturity date	June 14, 2046			Dec 1, 2043
Earliest redeemable date (for cash)	June 14, 2021			June 1, 2019
Coupon rate	6.625		%	7.75		%
Effective interest rate	7.07		%	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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28541-108399

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28551-108399

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
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-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

Earnings per Common Share (Tables)

12 Months Ended

Dec. 31, 2018

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,	2018			2017			2016
Numerator:
Net (loss) income from continuing operations	$	(450,292	)	$	(147,649	)	$	79,060
Add: net (income) loss from continuing operations attributable to noncontrolling interests	(219		)	(151		)	842
Net (loss) income attributable to Maiden from continuing operations	(450,511		)	(147,800		)	79,902
Dividends on preference shares – Series A, C and D	(25,636		)	(29,156		)	(24,785		)
Dividends on convertible preference shares – Series B	—			—			(8,971		)
Amount allocated to participating common shareholders⁽¹⁾	(17		)	(23		)	(7		)
(Loss) income attributable to Maiden common shareholders, before discontinued operations	(476,164		)	(176,979		)	46,139
Loss from discontinued operations, net of income tax expense and amount allocated to participating common shareholders	(94,113		)	(22,096		)	(30,922		)
Numerator for basic and diluted EPS - net (loss) income allocated to Maiden common shareholders after assumed conversion⁽²⁾	$	(570,277	)	$	(199,075	)	$	15,217
Denominator:
Weighted average common shares – basic	83,050,362			85,678,232			77,534,860
Potentially dilutive securities:
Share options and restricted share units⁽²⁾	—			—			1,152,083
Adjusted weighted average common shares and assumed conversions – diluted	83,050,362			85,678,232			78,686,943
Basic (loss) earnings from continuing operations per share attributable to Maiden common shareholders:	$	(5.74	)	$	(2.06	)	$	0.60
Basic loss from discontinued operations per share attributable to Maiden common shareholders	(1.13		)	(0.26		)	(0.40		)
Basic (loss) earnings per share attributable to Maiden common shareholders:	$	(6.87	)	$	(2.32	)	$	0.20
Diluted (loss) earnings from continuing operations per share attributable to Maiden common shareholders:	$	(5.74	)	$	(2.06	)	$	0.58
Diluted loss from discontinued operations per share attributable to Maiden common shareholders	(1.13		)	(0.26		)	(0.39		)
Diluted (loss) earnings per share attributable to Maiden common shareholders:	$	(6.87	)	$	(2.32	)	$	0.19


(1)	This represents earnings allocated to the holders of non-vested restricted shares issued to the Company's employees under the Amended and Restated 2007 Share Incentive Plan. The 2018 and 2017 amounts allocated to the holders of non-vested restricted shares excluded undistributed losses during the year.

(2)

Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2018

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,	2018		2017		2016
Outstanding shares – January 1	82,974,895		86,271,109		73,721,140
Mandatory conversion of preference shares – Series B	—		—		12,069,090
Issuance of vested restricted shares and restricted share units	198,983		246,382		251,027
Shares repurchased⁽¹⁾	(234,801	)	(3,705,256	)	(35,258	)
Exercise of options	9,500		162,660		265,110
Outstanding shares – December 31	82,948,577		82,974,895		86,271,109

(1)

In 2018, the Company repurchased 205,000 (2017 - 3,667,134) common shares under its share repurchase authorization. In addition, shares were repurchased from employees in respect of tax obligations arising from the vesting of restricted shares and performance based shares. See further details below in item (f).

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, 2018, 2017 and 2016:



For the Year Ended December 31, 2018	Change in net unrealized gains on investment			Foreign currency translation adjustments			Total
Beginning balance	$	21,889		$	(8,583	)	$	13,306
Other comprehensive (loss) income before reclassifications	(108,726		)	2,651			(106,075		)
Amounts reclassified from AOCI to net income, net of tax	27,075			—			27,075
Net current period other comprehensive (loss) income	(81,651		)	2,651			(79,000		)
Ending balance	(59,762		)	(5,932		)	(65,694		)
Less: AOCI attributable to noncontrolling interest	—			(78		)	(78		)
Ending balance, Maiden shareholders	$	(59,762	)	$	(5,854	)	$	(65,616	)



For the Year Ended December 31, 2017	Change in net unrealized gains on investment			Foreign currency translation adjustments			Total
Beginning balance	$	(20,716	)	$	35,604		$	14,888
Other comprehensive income (loss) before reclassifications	44,421			(44,187		)	234
Amounts reclassified from AOCI to net income, net of tax	(1,816		)	—			(1,816		)
Net current period other comprehensive income (loss)	42,605			(44,187		)	(1,582		)
Ending balance	21,889			(8,583		)	13,306
Less: AOCI attributable to noncontrolling interest	—			(48		)	(48		)
Ending balance, Maiden shareholders	$	21,889		$	(8,535	)	$	13,354



For the Year Ended December 31, 2016	Change in net unrealized gains on investment			Foreign currency translation adjustments			Total
Beginning balance	$	(54,112	)	$	30,231		$	(23,881	)
Other comprehensive income before reclassifications	32,820			5,373			38,193
Amounts reclassified from AOCI to net income, net of tax	576			—			576
Net current period other comprehensive income	33,396			5,373			38,769
Ending balance	(20,716		)	35,604			14,888
Less: AOCI attributable to noncontrolling interest	—			(109		)	(109		)
Ending balance, Maiden shareholders	$	(20,716	)	$	35,713		$	14,997

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 (losses) gains on AFS securities		2018			2017		2016
	Net realized (losses) gains on investment	$	(21,243	)	$	1,816	$	(576	)
	Net impairment losses recognized in earnings	(5,832		)	—		—
	Total before tax	(27,075		)	1,816		(576		)
	Income tax expense	—			—		—
	Total after tax	$	(27,075	)	$	1,816	$	(576	)

Share Compensation and Pension Plans (Tables)

12 Months Ended

Dec. 31, 2018

Share-based Compensation [Abstract]

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

The following table shows all options granted, exercised, forfeited and expired under the Plan for the years ended December 31, 2018, 2017 and 2016:



	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, 2015	1,926,199		$	6.96			4.15 years	$	15,306	$3.28 - $13.98
Granted	24,000		$	13.12	$	2.45				$13.12
Exercised	(265,110	)	$	7.28				$	1,453
Expired	(1,000	)	$	7.67
Outstanding, December 31, 2016	1,684,089		$	7.00			3.36 years	$	17,598	$3.28 - $13.98
Exercised	(162,660	)	$	6.64				$	955
Expired	(4,660	)	$	9.92
Outstanding, December 31, 2017	1,516,769		$	7.03			2.45 years	$	1,100	$3.28 - $13.98
Granted	275,000		$	7.07	$	1.36				$3.24 - $7.20
Exercised	(9,500	)	$	3.28				$	5,715
Expired	(1,038,510	)	$	6.50
Forfeited	(85,935	)	$	7.23
Outstanding, December 31, 2018	657,824		$	7.92			4.40 years	$	—	$3.24 - $13.98
Total exercisable at December 31, 2018	467,824		$	8.28			2.46 years	$	—	$4.45 - $13.98

Schedule of based compensation instrument granted, other than share options

The following table shows a summary of activity under the Company's restricted share awards:



	Non-Performance-Based Restricted Share Units				Non-Performance-Based Restricted Shares				Performance Based Restricted Share Units⁽¹⁾
	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 31, 2015	138,128		$	12.07	53,152		$	13.22	745,482		$	12.05
Awards granted	75,988		$	13.16	23,000		$	12.90	355,544		$	13.11
Awards vested	(94,931	)	$	11.24	(29,949	)	$	12.67	(85,847	)	$	12.29
Awards forfeited	—		$	—	—		$	—	(169,458	)	$	10.02
Non-vested at December 31, 2016	119,185		$	13.42	46,203		$	13.42	845,721		$	12.88
Awards granted	25,000		$	10.55	17,500		$	16.75	284,130		$	16.75
Awards vested	(46,927	)	$	13.50	(26,477	)	$	13.49	(110,976	)	$	12.20
Awards forfeited	—		$	—	—		$	—	(208,411	)	$	11.73
Non-vested at December 31, 2017	97,258		$	12.65	37,226		$	14.93	810,464		$	14.60
Awards granted	25,000		$	8.75	268,971		$	5.79	734,668		$	7.20
Awards vested	(71,928	)	$	12.47	(27,726	)	$	14.43	(99,931	)	$	13.88
Awards forfeited	(25,330	)	$	13.16	(17,500	)	$	9.36	(597,556	)	$	11.15
Non-vested at December 31, 2018	25,000		$	8.75	260,971		$	5.94	847,645		$	10.71

(1)

For Performance Based 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.

Statutory Requirements and Dividend Restrictions (Tables)

12 Months Ended

Dec. 31, 2018

Statutory Financial Information [Abstract]

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

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



	Maiden Bermuda			Maiden LF			Maiden GF
Statutory Capital and Surplus
December 31, 2018	$	869,886		$	7,607		$	6,192
December 31, 2017	1,205,991			8,552			6,417

Statutory Net (Loss) Income
For the Year Ended December 31, 2018	$	(389,372	)	$	(462	)	$	98
For the Year Ended December 31, 2017	(167,307		)	(441		)	(242		)
For the Year Ended December 31, 2016	87,888			756			—

- 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

Taxation (Tables)

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Schedule of (loss) income before taxes and income tax expense

(Loss) income before taxes and income tax (benefit) expense for the years ended December 31, 2018, 2017 and 2016 was as follows:



For the Year Ended December 31,	2018			2017			2016
(Loss) income from continuing operations before income taxes – Domestic (Bermuda)	$	(424,667	)	$	(140,874	)	$	78,651
(Loss) income from continuing operations before income taxes – Foreign (U.S. and others)	(25,184		)	(13,532		)	822
Total (loss) income from continuing operations before income taxes	$	(449,851	)	$	(154,406	)	$	79,473

Current tax expense – Domestic (Bermuda)	$	—		$	—		$	—
Current tax expense – Foreign (U.S. and others)	501			669			490
Total current tax expense	$	501		$	669		$	490

Deferred tax expense – Domestic (Bermuda)	$	—		$	—		$	—
Deferred tax benefit – Foreign (U.S. and others)	(60		)	(7,426		)	(77		)
Total deferred tax benefit	$	(60	)	$	(7,426	)	$	(77	)

Total income tax expense (benefit)	$	441		$	(6,757	)	$	413

Schedule of effective income tax rate reconciliation

17. Taxation (continued)



For the Year Ended December 31,	2018			2017			2016
(Loss) income from continuing operations before income taxes	$	(449,851	)	$	(154,406	)	$	79,473
Less: income tax expense (benefit)	441			(6,757		)	413
Net (loss) income from continuing operations	$	(450,292	)	$	(147,649	)	$	79,060
Reconciliation of effective tax rate (% of income before income taxes)
Bermuda tax rate	—		%	—		%	—		%
U.S. taxes at statutory rates	1.1		%	9.6		%	(5.8		)%
Rate change in the U.S.	—		%	3.2		%	—		%
Valuation allowance in respect of U.S. taxes	(1.1		)%	(8.3		)%	5.8		%
Other jurisdictions	(0.1		)%	(0.1		)%	0.5		%
Actual tax rate	(0.1		)%	4.4		%	0.5		%

Schedule of deferred tax assets and liabilities

The significant components of our deferred tax assets and liabilities at December 31, 2018 and 2017 were as follows:



December 31,	2018		2017
Deferred tax assets:
Net operating losses	$	44,119	$	39,923
Capital loss carry-forward	12,345		—
Others	548		643
Deferred tax assets before valuation allowance	57,012		40,566
Valuation allowance	56,326		39,934
Deferred tax assets, net	686		632
Deferred tax liabilities:
Net unrealized gains on investment	33		78
Deferred tax liabilities	33		78
Net deferred tax asset	$	653	$	554

Condensed Quarterly Financial Data - Unaudited (Tables)

12 Months Ended

Dec. 31, 2018

Quarterly Financial Information Disclosure [Abstract]

Schedule of quarterly financial data

The following tables summarize our quarterly financial data:



2018 Quarters Ended⁽³⁾	March 31			June 30			September 30⁽¹⁾⁽⁴⁾			December 31⁽¹⁾
Total revenues from continuing operations	$	553,765		$	540,267		$	555,662		$	515,113
Net income (loss) from continuing operations	12,348			(5,535		)	(240,413		)	(216,692		)
Income (loss) from discontinued operations, net of income tax	9,995			8,215			(59,819		)	(52,504		)
Net income (loss)	$	22,343		$	2,680		$	(300,232	)	$	(269,196	)
Net income (loss) attributable to Maiden common shareholders	$	13,727		$	(5,913	)	$	(308,839	)	$	(269,235	)
Comprehensive loss – attributable to Maiden	(53,997		)	(31,411		)	(319,704		)	(218,482		)
Basic earnings (loss) from continuing operations per share attributable to Maiden common shareholders	$	0.05		$	(0.17	)	$	(3.00	)	$	(2.61	)
Basic earnings (loss) from discontinued operations per share attributable to Maiden common shareholders	0.12			0.10			(0.72		)	(0.64		)
Basic earnings (loss) per common share attributable to Maiden common shareholders	$	0.17		$	(0.07	)	$	(3.72	)	$	(3.25	)
Diluted earnings (loss) from continuing operations per share attributable to Maiden common shareholders	$	0.04		$	(0.17	)	$	(3.00	)	$	(2.61	)
Diluted earnings (loss) from discontinued operations per share attributable to Maiden common shareholders	0.12			0.10			(0.72		)	(0.64		)
Diluted earnings (loss) per common share attributable to Maiden common shareholders	$	0.16		$	(0.07	)	$	(3.72	)	$	(3.25	)



2017 Quarters Ended⁽³⁾	March 31		June 30			September 30⁽⁴⁾			December 31⁽²⁾
Total revenues from continuing operations	$	560,084	$	563,116		$	496,544		$	519,074
Net income (loss) from continuing operations	14,727		(1,927		)	(43,983		)	(116,466		)
Income (loss) from discontinued operations, net of income tax	11,774		(14,408		)	(11,071		)	(8,391		)
Net income (loss)	$	26,501	$	(16,335	)	$	(55,054	)	$	(124,857	)
Net income (loss) attributable to Maiden common shareholders	$	20,490	$	(22,359	)	$	(63,596	)	$	(133,587	)
Comprehensive income (loss) – attributable to Maiden	27,117		3,658			(44,547		)	(157,767		)
Basic earnings (loss) from continuing operations per share attributable to Maiden common shareholders	$	0.10	$	(0.09	)	$	(0.61	)	$	(1.49	)
Basic earnings (loss) from discontinued operations per share attributable to Maiden common shareholders	0.14		(0.17		)	(0.13		)	(0.10		)
Basic earnings (loss) per common share attributable to Maiden common shareholders	$	0.24	$	(0.26	)	$	(0.74	)	$	(1.59	)
Diluted earnings (loss) from continuing operations per share attributable to Maiden common shareholders	$	0.10	$	(0.09	)	$	(0.61	)	$	(1.49	)
Diluted earnings (loss) from discontinued operations per share attributable to Maiden common shareholders	0.13		(0.17		)	(0.13		)	(0.10		)
Diluted earnings (loss) per common share attributable to Maiden common shareholders	$	0.23	$	(0.26	)	$	(0.74	)	$	(1.59	)

(1)

(2)

(3)

(4)

Organization (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
Organization (Details) - USD ($) $ in Thousands	Jan. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Aug. 31, 2018	Aug. 29, 2018	Dec. 31, 2015
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Intercompany proceeds		$ 125,000
Reserve for loss and loss adjustment expenses		$ 3,055,976	$ 2,386,722	$ 1,845,407			$ 1,521,364
Discontinued Operations, Disposed of by Sale \| Renewal Rights Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds of sale						$ 7,500
Discontinued Operations, Held-for-sale \| Maiden US Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds of sale					$ 286,375
Cavello Bay Reinsurance Limited \| Discontinued Operations, Held-for-sale \| Maiden Reinsurance North America, Inc. Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ceded premiums payable					1,750
Maiden Reinsurance Ltd. \| Discontinued Operations, Held-for-sale \| Maiden Reinsurance North America, Inc. Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ceded premiums payable					12,250
Reserve for loss and loss adjustment expenses					100,000
AmTrust Reinsurance segment \| Segment concentration risk \| Gross premiums written
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Concentration risk, percentage		93.50%	95.90%	96.10%
Maximum \| Discontinued Operations, Held-for-sale \| Maiden Reinsurance North America, Inc. Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Reinsurance payable					$ 25,000
Subsequent event
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Intercompany proceeds	$ 70,000

Segment Information - Net Income (Loss) and Total Assets (Details) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018 USD ($)	Sep. 30, 2018 USD ($)	Jun. 30, 2018 USD ($)	Mar. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Sep. 30, 2017 USD ($)	Jun. 30, 2017 USD ($)	Mar. 31, 2017 USD ($)	Dec. 31, 2018 USD ($) Segment	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments \| Segment									2
Income Statement [Abstract]
Gross premiums written									$ 2,017,798	$ 2,078,091	$ 2,089,029
Net premiums written									2,014,597	2,037,377	1,967,671
Net premiums earned									2,026,202	1,992,659	1,925,588
Other insurance revenue									9,681	9,802	10,817
Net loss and LAE									(1,880,121)	(1,555,433)	(1,289,512)
Commission and other acquisition expenses									(654,740)	(643,797)	(615,523)
General and administrative expenses									(21,241)	(19,028)	(18,439)
Underwriting loss									(520,219)	(215,797)	12,931
Reconciliation to net loss from continuing operations
Net investment income and realized losses on investment									134,756	136,357	115,463
Total other-than-temporary impairment losses									(5,832)	0	0
Interest and amortization expenses									(19,318)	(23,260)	(28,173)
Accelerated amortization of senior note issuance cost									0	(2,809)	(2,345)
Foreign exchange gains (losses)									4,461	(14,921)	13,412
Other general and administrative expenses									(43,699)	(33,976)	(31,815)
Income tax benefit (expense)									(441)	6,757	(413)
Net (loss) income from continuing operations	$ (216,692)	$ (240,413)	$ (5,535)	$ 12,348	$ (116,466)	$ (43,983)	$ (1,927)	$ 14,727	$ (450,292)	$ (147,649)	$ 79,060
Net loss and LAE ratio									92.30%	77.70%	66.60%
Commission and other acquisition expense ratio									32.20%	32.20%	31.80%
General and administrative expense ratio									3.20%	2.60%	2.60%
Expense ratio									35.40%	34.80%	34.40%
Combined ratio									127.70%	112.50%	101.00%
Assets [Abstract]
Reinsurance balances receivable, net	67,308				72,494				$ 67,308	$ 72,494
Deferred commission and other acquisition expenses	388,442				380,204				388,442	380,204
Loan to related party	167,975				167,975				167,975	167,975
Restricted cash and cash equivalents and investments	4,023,959				3,726,229				4,023,959	3,726,229
Other assets	39,482				131,608				39,482	131,608
Assets held for sale	174,475				1,901,818				174,475	1,901,818
Total assets	5,287,460				6,644,189				5,287,460	6,644,189
AmTrust Reinsurance segment
Income Statement [Abstract]
Gross premiums written									1,886,280	1,993,478	$ 2,006,646
Operating Segments
Assets [Abstract]
Reinsurance balances receivable, net	67,308				72,494				67,308	72,494
Deferred commission and other acquisition expenses	388,442				380,204				388,442	380,204
Loan to related party	167,975				167,975				167,975	167,975
Restricted cash and cash equivalents and investments	4,033,030				3,684,624				4,033,030	3,684,624
Other assets	29,422				121,324				29,422	121,324
Total assets - reportable segments	4,686,177				4,426,621				4,686,177	4,426,621
Corporate assets	426,808				315,750				426,808	315,750
Assets held for sale	174,475				1,901,818				174,475	1,901,818
Total assets	5,287,460				6,644,189				5,287,460	6,644,189
Operating Segments \| Diversified Reinsurance segment
Income Statement [Abstract]
Gross premiums written									131,518	84,613	82,383
Net premiums written									129,319	82,521	79,243
Net premiums earned									112,487	83,015	81,967
Other insurance revenue									9,681	9,802	10,817
Net loss and LAE									(71,441)	(54,714)	(51,795)
Commission and other acquisition expenses									(38,749)	(29,018)	(31,249)
General and administrative expenses									(17,396)	(15,976)	(15,543)
Underwriting loss									$ (5,418)	$ (6,891)	$ (5,803)
Reconciliation to net loss from continuing operations
Net loss and LAE ratio									58.50%	58.90%	55.80%
Commission and other acquisition expense ratio									31.70%	31.30%	33.70%
General and administrative expense ratio									14.20%	17.20%	16.80%
Expense ratio									45.90%	48.50%	50.50%
Combined ratio									104.40%	107.40%	106.30%
Assets [Abstract]
Reinsurance balances receivable, net	29,030				22,225				$ 29,030	$ 22,225
Deferred commission and other acquisition expenses	18,405				20,240				18,405	20,240
Loan to related party	0				0				0	0
Restricted cash and cash equivalents and investments	114,220				108,065				114,220	108,065
Other assets	28,782				17,108				28,782	17,108
Total assets - reportable segments	190,437				167,638				190,437	167,638
Corporate assets	0				0				0	0
Assets held for sale	0				0				0	0
Total assets	190,437				167,638				190,437	167,638
Operating Segments \| AmTrust Reinsurance segment
Income Statement [Abstract]
Gross premiums written									1,886,280	1,993,478	$ 2,006,646
Net premiums written									1,885,278	1,954,856	1,888,428
Net premiums earned									1,913,715	1,909,644	1,843,621
Other insurance revenue									0	0	0
Net loss and LAE									(1,806,995)	(1,498,881)	(1,225,830)
Commission and other acquisition expenses									(615,991)	(614,777)	(584,820)
General and administrative expenses									(3,845)	(3,052)	(2,896)
Underwriting loss									$ (513,116)	$ (207,066)	$ 30,075
Reconciliation to net loss from continuing operations
Net loss and LAE ratio									94.40%	78.40%	66.50%
Commission and other acquisition expense ratio									32.20%	32.20%	31.70%
General and administrative expense ratio									0.20%	0.20%	0.20%
Expense ratio									32.40%	32.40%	31.90%
Combined ratio									126.80%	110.80%	98.40%
Assets [Abstract]
Reinsurance balances receivable, net	38,278				50,269				$ 38,278	$ 50,269
Deferred commission and other acquisition expenses	370,037				359,964				370,037	359,964
Loan to related party	167,975				167,975				167,975	167,975
Restricted cash and cash equivalents and investments	3,918,810				3,576,559				3,918,810	3,576,559
Other assets	640				104,216				640	104,216
Total assets - reportable segments	4,495,740				4,258,983				4,495,740	4,258,983
Corporate assets	0				0				0	0
Assets held for sale	0				0				0	0
Total assets	$ 4,495,740				$ 4,258,983				4,495,740	4,258,983
Other
Income Statement [Abstract]
Gross premiums written									0	0	$ 0
Net premiums written									0	0	0
Net premiums earned									0	0	0
Other insurance revenue									0	0	0
Net loss and LAE									(1,685)	(1,838)	(11,887)
Commission and other acquisition expenses									0	(2)	546
General and administrative expenses									0	0	0
Underwriting loss									$ (1,685)	$ (1,840)	$ (11,341)

Significant Accounting Policies (Details) - USD ($)	3 Months Ended			12 Months Ended
Significant Accounting Policies (Details) - USD ($)	Dec. 31, 2018	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Unfavorable reserve development				$ 403,211,000	$ 247,175,000	$ 76,969,000
Earnings per common share, basic, reduction from unfavorable reserve development (in dollar per share)	$ 1.83	$ (2.53)	$ (1.66)	$ 4.81	$ 2.80
Earnings per common share, diluted, reduction from unfavorable reserve development (in dollar per share)				$ (4.81)	$ (2.80)
Short-term investments	$ 0			$ 0	$ 0
Deposit contracts	0			0	0
Cumulative translation adjustment	554,916,000			554,916,000	1,232,626,000	1,361,152,000
Net unrealized losses				(502,000)	0	0
Foreign currency translation adjustments, attributable to Maiden shareholders
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Cumulative translation adjustment	(5,854,000)			(5,854,000)	(8,535,000)	35,713,000
AmTrust Reinsurance segment
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Unfavorable reserve development	$ 151,874,000	$ (210,433,000)	$ 139,024,000	399,200,000	239,896,000	54,000,000
Maiden US Sale \| Discontinued Operations, Held-for-sale
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Impairment of goodwill and intangible assets				$ 74,196,000	$ 0	$ 1,800,000

Segment Information - Net Premiums (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Segment Reporting, Revenue Reconciling Item [Line Items]
Gross premiums written	$ 2,017,798	$ 2,078,091	$ 2,089,029
Net premiums written	2,014,597	2,037,377	1,967,671
Net premiums earned	$ 2,026,202	$ 1,992,659	$ 1,925,588
% of Total Net premiums written	100.00%	100.00%	100.00%
% of Total Net premiums earned	100.00%	100.00%	100.00%
AmTrust Reinsurance segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Gross premiums written	$ 1,886,280	$ 1,993,478	$ 2,006,646
North America
Segment Reporting, Revenue Reconciling Item [Line Items]
Gross premiums written	1,591,745	1,750,145	1,700,164
Net premiums written	1,590,466	1,710,760	1,592,951
Net premiums earned	1,635,855	1,667,219	1,541,622
Other (predominantly Europe)
Segment Reporting, Revenue Reconciling Item [Line Items]
Gross premiums written	426,053	327,946	388,865
Net premiums written	424,131	326,617	374,720
Net premiums earned	390,347	325,440	383,966
Operating Segments \| Diversified Reinsurance segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Gross premiums written	131,518	84,613	82,383
Net premiums written	129,319	82,521	79,243
Net premiums earned	$ 112,487	$ 83,015	$ 81,967
% of Total Net premiums written	6.40%	4.10%	4.00%
% of Total Net premiums earned	5.50%	4.20%	4.30%
Operating Segments \| AmTrust Reinsurance segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Gross premiums written	$ 1,886,280	$ 1,993,478	$ 2,006,646
Net premiums written	1,885,278	1,954,856	1,888,428
Net premiums earned	$ 1,913,715	$ 1,909,644	$ 1,843,621
% of Total Net premiums written	93.60%	95.90%	96.00%
% of Total Net premiums earned	94.50%	95.80%	95.70%
Operating Segments \| International \| Diversified Reinsurance segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Net premiums written	$ 129,305	$ 82,534	$ 78,673
Net premiums earned	$ 112,473	$ 83,027	$ 80,782
% of Total Net premiums written	6.40%	4.10%	4.00%
% of Total Net premiums earned	5.50%	4.20%	4.20%
Operating Segments \| Other \| Diversified Reinsurance segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Net premiums written	$ 14	$ (13)	$ 570
Net premiums earned	$ 14	$ (12)	$ 1,185
% of Total Net premiums written	0.00%	0.00%	0.00%
% of Total Net premiums earned	0.00%	0.00%	0.10%
Operating Segments \| Small Commercial Business \| AmTrust Reinsurance segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Net premiums written	$ 1,092,615	$ 1,278,974	$ 1,181,496
Net premiums earned	$ 1,167,581	$ 1,255,941	$ 1,131,582
% of Total Net premiums written	54.20%	62.80%	60.10%
% of Total Net premiums earned	57.60%	63.00%	58.80%
Operating Segments \| Specialty Program \| AmTrust Reinsurance segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Net premiums written	$ 336,847	$ 350,113	$ 344,677
Net premiums earned	$ 345,805	$ 344,336	$ 337,396
% of Total Net premiums written	16.70%	17.10%	17.50%
% of Total Net premiums earned	17.10%	17.30%	17.50%
Operating Segments \| Specialty Risk and Extended Warranty \| AmTrust Reinsurance segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Net premiums written	$ 455,816	$ 325,769	$ 362,255
Net premiums earned	$ 400,329	$ 309,367	$ 374,643
% of Total Net premiums written	22.70%	16.00%	18.40%
% of Total Net premiums earned	19.80%	15.50%	19.40%

Investments - Schedule of Investments Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2018
Schedule of Investments [Line Items]
Available-for-sale fixed maturities, Original or amortized cost	$ 2,699,297	$ 3,109,980
Available-for-sale fixed maturities, Gross unrealized gains	38,296	10,995
Available-for-sale fixed maturities, Gross unrealized losses	(30,077)	(69,407)
AFS fixed maturities	2,707,516	3,051,568
HTM Fixed maturities, Original or amortized cost	1,097,801	1,015,681
HTM securities, Gross unrealized gains	28,822	3,872
HTM securities, Gross unrealized losses	(997)	(21,541)
HTM securities, Fair value	1,125,626	998,012
Total investments, Original or amortized cost	3,797,098	4,125,661
Total investments, Gross unrealized gains	67,118	14,867
Total investments, Gross unrealized losses	(31,074)	(90,948)
Total investments, Fair value	3,833,142	4,049,580
Fair value of securities transferred from AFS to HTM	391,934
AFS Transferred to HTM securities, unrealized gain	4,313
U.S. treasury bonds
Schedule of Investments [Line Items]
Available-for-sale fixed maturities, Original or amortized cost	35,093	138,625
Available-for-sale fixed maturities, Gross unrealized gains	4	448
Available-for-sale fixed maturities, Gross unrealized losses	0	(1)
AFS fixed maturities	35,097	139,072
U.S. agency bonds – mortgage-backed
Schedule of Investments [Line Items]
Available-for-sale fixed maturities, Original or amortized cost	1,475,682	1,485,716
Available-for-sale fixed maturities, Gross unrealized gains	6,181	3,491
Available-for-sale fixed maturities, Gross unrealized losses	(13,723)	(36,073)
AFS fixed maturities	1,468,140	1,453,134
U.S. agency bonds – other
Schedule of Investments [Line Items]
Available-for-sale fixed maturities, Original or amortized cost	19,868	129,741
Available-for-sale fixed maturities, Gross unrealized gains	0	40
Available-for-sale fixed maturities, Gross unrealized losses	(149)	(548)
AFS fixed maturities	19,719	129,233
Non-U.S. government and supranational bonds
Schedule of Investments [Line Items]
Available-for-sale fixed maturities, Original or amortized cost	32,380	11,212
Available-for-sale fixed maturities, Gross unrealized gains	231	66
Available-for-sale fixed maturities, Gross unrealized losses	(1,713)	(1,206)
AFS fixed maturities	30,898	10,072
Asset-backed securities
Schedule of Investments [Line Items]
Available-for-sale fixed maturities, Original or amortized cost	225,015	216,072
Available-for-sale fixed maturities, Gross unrealized gains	3,457	425
Available-for-sale fixed maturities, Gross unrealized losses	(79)	(1,415)
AFS fixed maturities	228,393	215,082
Corporate bonds
Schedule of Investments [Line Items]
Available-for-sale fixed maturities, Original or amortized cost	911,259	1,128,614
Available-for-sale fixed maturities, Gross unrealized gains	28,423	6,525
Available-for-sale fixed maturities, Gross unrealized losses	(14,413)	(30,164)
AFS fixed maturities	925,269	1,104,975
HTM Fixed maturities, Original or amortized cost	1,037,464	957,845
HTM securities, Gross unrealized gains	28,694	3,872
HTM securities, Gross unrealized losses	(913)	(20,990)
HTM securities, Fair value	1,065,245	940,727
Municipal bonds
Schedule of Investments [Line Items]
HTM Fixed maturities, Original or amortized cost	60,337	57,836
HTM securities, Gross unrealized gains	128	0
HTM securities, Gross unrealized losses	(84)	(551)
HTM securities, Fair value	$ 60,381	$ 57,285

Investments - Contractual Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Debt Securities, Available-for-sale, Amortized Cost, Fiscal Year Maturity [Abstract]
Due in one year or less	$ 130,857
Due after one year through five years	715,233
Due after five years through ten years	562,102
Total before securities with single maturities, Amortized cost	1,408,192
Available-for-sale fixed maturities, Original or amortized cost	3,109,980	$ 2,699,297
Debt Securities, Available-for-sale, Fair Value, Fiscal Year Maturity [Abstract]
Due in one year or less	130,756
Due after one year through five years	703,347
Due after five years through ten years	549,249
Total before securities with single maturities, Fair value	1,383,352
Available-for-sale fixed maturities, Fair value	3,051,568	2,707,516
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, Amortized Cost [Abstract]
Due in one year or less	2,020
Due after one year through five years	394,875
Due after five years through ten years	618,786
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, Amortized Cost	1,015,681
HTM securities, Amortized Cost	1,015,681
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, Fair Value [Abstract]
Due in one year or less	2,021
Due after one year through five years	391,709
Due after five years through ten years	604,282
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, Fair Value	998,012
HTM securities, Fair value	998,012	1,125,626
U.S. agency bonds – mortgage-backed
Debt Securities, Available-for-sale, Amortized Cost, Fiscal Year Maturity [Abstract]
Amortized cost of securities without single maturities	1,485,716
Available-for-sale fixed maturities, Original or amortized cost	1,485,716	1,475,682
Debt Securities, Available-for-sale, Fair Value, Fiscal Year Maturity [Abstract]
Fair value of securities without single maturities	1,453,134
Available-for-sale fixed maturities, Fair value	1,453,134	1,468,140
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, Amortized Cost [Abstract]
Debt Securities, Held-to-maturity, Maturity, without Single Maturity Date, Amortized Cost	0
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, Fair Value [Abstract]
Debt Securities, Held-to-maturity, Maturity, without Single Maturity Date, Fair Value	0
Asset-backed securities
Debt Securities, Available-for-sale, Amortized Cost, Fiscal Year Maturity [Abstract]
Amortized cost of securities without single maturities	216,072
Available-for-sale fixed maturities, Original or amortized cost	216,072	225,015
Debt Securities, Available-for-sale, Fair Value, Fiscal Year Maturity [Abstract]
Fair value of securities without single maturities	215,082
Available-for-sale fixed maturities, Fair value	215,082	$ 228,393
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, Amortized Cost [Abstract]
Debt Securities, Held-to-maturity, Maturity, without Single Maturity Date, Amortized Cost	0
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, Fair Value [Abstract]
Debt Securities, Held-to-maturity, Maturity, without Single Maturity Date, Fair Value	$ 0

Investments - Fair Value and Unrealized Losses (Details) $ in Thousands	Dec. 31, 2018 USD ($) security	Dec. 31, 2017 USD ($) security
Fixed Maturities, Continuous Unrealized Loss Position, Fair Value [Abstract]
Less than 12 Months, Fair value	$ 1,595,079	$ 867,330
12 Months or More, Fair value	1,188,564	646,140
Total, Fair value	2,783,643	1,513,470
Fixed Maturities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract]
Less than 12 Months, Unrealized losses	(38,695)	(7,121)
12 Months or More, Unrealized losses	(52,253)	(23,953)
Total, Unrealized losses	$ (90,948)	$ (31,074)
Fixed Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions \| security	348	156
Investments, Continuous Unrealized Loss Position, Fair Value	$ 2,783,643	$ 1,513,470
Investments, Continuous Unrealized Loss Position, Accumulated Loss	$ 90,948	$ 31,074
Fixed Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year \| security	103	89
Investments, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value	$ 1,188,564	$ 646,140
Investments, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses	52,253	23,953
U.S. treasury bonds
Fixed Maturities, Continuous Unrealized Loss Position, Fair Value [Abstract]
Less than 12 Months, Fair value	125
12 Months or More, Fair value	0
Total, Fair value	125
Fixed Maturities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract]
Less than 12 Months, Unrealized losses	(1)
12 Months or More, Unrealized losses	0
Total, Unrealized losses	(1)
U.S. agency bonds – mortgage-backed
Fixed Maturities, Continuous Unrealized Loss Position, Fair Value [Abstract]
Less than 12 Months, Fair value	416,147	632,142
12 Months or More, Fair value	838,091	327,339
Total, Fair value	1,254,238	959,481
Fixed Maturities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract]
Less than 12 Months, Unrealized losses	(6,624)	(5,299)
12 Months or More, Unrealized losses	(29,449)	(8,424)
Total, Unrealized losses	(36,073)	(13,723)
U.S. agency bonds – other
Fixed Maturities, Continuous Unrealized Loss Position, Fair Value [Abstract]
Less than 12 Months, Fair value	26,838	19,718
12 Months or More, Fair value	17,462	0
Total, Fair value	44,300	19,718
Fixed Maturities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract]
Less than 12 Months, Unrealized losses	(27)	(149)
12 Months or More, Unrealized losses	(521)	0
Total, Unrealized losses	(548)	(149)
Non-U.S. government and supranational bonds
Fixed Maturities, Continuous Unrealized Loss Position, Fair Value [Abstract]
Less than 12 Months, Fair value	4,024	1,909
12 Months or More, Fair value	3,770	25,192
Total, Fair value	7,794	27,101
Fixed Maturities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract]
Less than 12 Months, Unrealized losses	(252)	(2)
12 Months or More, Unrealized losses	(954)	(1,711)
Total, Unrealized losses	(1,206)	(1,713)
Asset-backed securities
Fixed Maturities, Continuous Unrealized Loss Position, Fair Value [Abstract]
Less than 12 Months, Fair value	74,801	12,408
12 Months or More, Fair value	5,793	3,017
Total, Fair value	80,594	15,425
Fixed Maturities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract]
Less than 12 Months, Unrealized losses	(1,196)	(30)
12 Months or More, Unrealized losses	(219)	(49)
Total, Unrealized losses	(1,415)	(79)
Corporate bonds
Fixed Maturities, Continuous Unrealized Loss Position, Fair Value [Abstract]
Less than 12 Months, Fair value	1,052,765	161,661
12 Months or More, Fair value	286,542	290,592
Total, Fair value	1,339,307	452,253
Fixed Maturities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract]
Less than 12 Months, Unrealized losses	(30,334)	(1,557)
12 Months or More, Unrealized losses	(20,820)	(13,769)
Total, Unrealized losses	(51,154)	(15,326)
Municipal bonds
Fixed Maturities, Continuous Unrealized Loss Position, Fair Value [Abstract]
Less than 12 Months, Fair value	20,379	39,492
12 Months or More, Fair value	36,906	0
Total, Fair value	57,285	39,492
Fixed Maturities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract]
Less than 12 Months, Unrealized losses	(261)	(84)
12 Months or More, Unrealized losses	(290)	0
Total, Unrealized losses	$ (551)	$ (84)

Investments - Credit Ratings (Details) $ in Thousands	12 Months Ended
Investments - Credit Ratings (Details) $ in Thousands	Dec. 31, 2018 USD ($) security	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)
Schedule of Investments [Abstract]
Total other-than-temporary impairment losses	$ 5,832	$ 0	$ 0
OTTI losses on fixed maturity securities \| security	72
Schedule of Fixed Maturities [Line Items]
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net			$ 0
Amortized cost	$ 4,125,661	3,797,098
Fair value	$ 4,049,580	$ 3,833,142
% of Total fair value	100.00%	100.00%
U.S. treasury bonds
Schedule of Fixed Maturities [Line Items]
Amortized cost	$ 138,625	$ 35,093
Fair value	$ 139,072	$ 35,097
% of Total fair value	3.40%	0.90%
U.S. agency bonds
Schedule of Fixed Maturities [Line Items]
Amortized cost	$ 1,615,457	$ 1,495,550
Fair value	$ 1,582,367	$ 1,487,859
% of Total fair value	39.10%	38.80%
AAA
Schedule of Fixed Maturities [Line Items]
Amortized cost	$ 137,172	$ 156,631
Fair value	$ 135,119	$ 159,682
% of Total fair value	3.30%	4.20%
AA Plus, AA, AA Minus
Schedule of Fixed Maturities [Line Items]
Amortized cost	$ 183,142	$ 146,264
Fair value	$ 178,674	$ 147,054
% of Total fair value	4.40%	3.80%
A Plus, A, A Minus
Schedule of Fixed Maturities [Line Items]
Amortized cost	$ 1,132,993	$ 1,089,230
Fair value	$ 1,113,710	$ 1,106,430
% of Total fair value	27.50%	28.90%
BBB Plus, BBB, BBB Minus
Schedule of Fixed Maturities [Line Items]
Amortized cost	$ 866,043	$ 824,351
Fair value	$ 848,348	$ 845,244
% of Total fair value	21.00%	22.10%
BB Plus or Lower
Schedule of Fixed Maturities [Line Items]
Amortized cost	$ 52,229	$ 49,979
Fair value	$ 52,290	$ 51,776
% of Total fair value	1.30%	1.30%

Investments - Other Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Schedule of Investments [Line Items]
Other investments, Fair value	$ 23,716	$ 6,600
% of Total fair value	100.00%	100.00%
Investment in limited partnerships
Schedule of Investments [Line Items]
Other investments, Fair value	$ 3,833	$ 5,100
% of Total fair value	16.20%	77.30%
Unfunded commitment on investments in limited partnerships	$ 414	$ 306
Investment in special purpose vehicles focused on lending activities
Schedule of Investments [Line Items]
Other investments, Fair value	$ 18,383	$ 0
% of Total fair value	77.50%	0.00%
Other
Schedule of Investments [Line Items]
Other investments	$ 1,500
Other investments, Fair value		$ 1,500
% of Total fair value	6.30%	22.70%
Unfunded commitment on investments in limited partnerships	$ 7,359

Investments - Net Investment Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Investment income	$ 140,634	$ 131,668	$ 115,614
Investment expenses	(4,349)	(7,533)	(6,925)
Net investment income	136,285	124,135	108,689
Fixed maturities
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Investment income	130,333	124,415	109,808
Cash and cash equivalents
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Investment income	2,123	1,973	1,628
Loan to related party
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Investment income	6,442	3,447	2,360
Other
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Investment income	$ 1,736	$ 1,833	$ 1,818

Investments - Realized Gains (Losses) on Investment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Gain (Loss) on Securities [Line Items]
Gross gains	$ 11,589	$ 13,476	$ 7,690
Gross losses	(13,118)	(1,254)	(916)
Net	(1,529)	12,222	6,774
Proceeds from sales of fixed maturities classified as available-for-sale	367,346	164,957	69,007
Total net unrealized (losses) gains	(59,729)	21,967	(20,632)
Deferred income tax	(33)	(78)	(84)
Net unrealized (losses) gains, net of deferred income tax	(59,762)	21,889	(20,716)
Change, net of deferred income tax	(81,651)	42,605	33,396
Net gains recognized in net income on other investments during the year	2,275	5,878	550
Net realized gains recognized on other investments divested during the year	2,777	5,878	550
Net unrealized gains (losses)	(502)	0	0
Other investments
Gain (Loss) on Securities [Line Items]
Gross gains	2,275	5,878	550
Gross losses	0	0	0
Net	2,275	5,878	550
Total net unrealized (losses) gains	0	1,381	3,003
Fixed maturities \| Available-for-sale securities
Gain (Loss) on Securities [Line Items]
Gross gains	9,314	7,598	7,140
Gross losses	(13,118)	(1,254)	(916)
Net	(3,804)	6,344	6,224
Total net unrealized (losses) gains	$ (59,729)	$ 20,586	$ (23,635)

Investments - Restricted Cash and Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Restricted Cash and Investments Items [Line Items]
Restricted cash	$ 130,148	$ 94,905	$ 69,126
Restricted investments	3,893,811	3,631,324
Total restricted cash and investments	4,023,959	3,726,229
Amortized cost	4,125,661	3,797,098
Third party agreements
Restricted Cash and Investments Items [Line Items]
Restricted cash	21,420	21,889
Restricted investments	89,596	211,331
Amortized cost	88,841	212,507
Related party agreements
Restricted Cash and Investments Items [Line Items]
Restricted cash	108,728	73,016
Restricted investments	2,806,203	2,294,367
Amortized cost	2,860,403	2,281,668
HTM, related party agreements
Restricted Cash and Investments Items [Line Items]
Restricted investments	998,012	1,125,626
Amortized cost	$ 1,015,681	$ 1,097,801

Fair Value Measurements - Financial Instruments Not Measured at Fair Value (Details) - Significant Other Observable Inputs (Level 2) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets	$ 1,015,681	$ 1,097,801
Financial Liabilities	262,500	262,500
Carrying Value \| Senior Notes \| Senior Notes - MHLA – 6.625%
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Liabilities	$ 110,000	$ 110,000
Stated interest rate	6.625%	6.625%
Carrying Value \| Senior Notes \| Senior Notes - MHNC – 7.75%
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Liabilities	$ 152,500	$ 152,500
Stated interest rate	7.75%	7.75%
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets	$ 998,012	$ 1,125,626
Financial Liabilities	219,200	250,229
Fair Value \| Senior Notes \| Senior Notes - MHLA – 6.625%
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Liabilities	75,240	101,200
Fair Value \| Senior Notes \| Senior Notes - MHNC – 7.75%
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Liabilities	143,960	149,029
Held-to-maturity Securities \| Corporate bonds \| Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets	957,845	1,037,464
Held-to-maturity Securities \| Corporate bonds \| Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets	940,727	1,065,245
Held-to-maturity Securities \| Municipal bonds \| Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets	57,836	60,337
Held-to-maturity Securities \| Municipal bonds \| Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets	$ 57,285	$ 60,381

Discontinued Operations - Balance Sheet Disclosures (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
ASSETS
Total assets held for sale	$ 174,475	$ 1,901,818
LIABILITIES
Total liabilities held for sale	155,961	1,449,408
Maiden Reinsurance North America, Inc. Sale \| Discontinued Operations, Held-for-sale
ASSETS
Fixed maturities, available-for-sale, at fair value	63,560	1,336,854
Cash and cash equivalents	0	13,449
Restricted cash and cash equivalents	6,113	28,679
Accrued investment income	0	6,195
Reinsurance balances receivable, net	689	272,549
Reinsurance recoverable on unpaid losses	70,158	92,728
Deferred commission and other acquisition expenses	0	59,393
Goodwill and intangible assets, net	0	75,583
Other assets	33,955	16,388
Total assets held for sale	174,475	1,901,818
LIABILITIES
Reserve for loss and loss adjustment expenses	76,521	1,160,526
Unearned premiums	0	246,156
Accrued expenses and other liabilities	79,440	42,726
Total liabilities held for sale	$ 155,961	$ 1,449,408

Discontinued Operations - Income Statement Disclosures (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Aug. 31, 2018	Aug. 29, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss from discontinued operations, net of income tax expense	$ (52,504)	$ (59,819)	$ 8,215	$ 9,995	$ (8,391)	$ (11,071)	$ (14,408)	$ 11,774	$ (94,113)	$ (22,096)	$ (30,922)
Maiden US Sale \| Discontinued Operations, Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Goodwill and intangible asset impairment		$ (74,196)
Proceeds of sale												$ 286,375
Renewal Rights Sale \| Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gross premiums written									493,862	737,960	742,319
Net premiums written									479,577	724,611	687,281
Net premiums earned									618,265	740,120	642,562
Net investment income									39,265	42,210	37,203
Net loss and loss adjustment expenses									(474,711)	(604,578)	(530,394)
Commission and other acquisition expenses									(142,946)	(176,961)	(158,141)
General and administrative expenses									(26,739)	(17,556)	(16,730)
Amortization of intangible assets									(1,387)	(2,132)	(2,461)
Goodwill and intangible asset impairment									0	0	(1,800)
Income (loss) from discontinued operations									11,747	(18,897)	(29,761)
Loss on disposal of discontinued operations									(113,294)	0	0
(Loss) income from discontinued operations before income taxes									(101,547)	(18,897)	(29,761)
Income tax benefit (expense)									7,434	(3,199)	(1,161)
Loss from discontinued operations, net of income tax expense									(94,113)	(22,096)	$ (30,922)
Proceeds of sale													$ 7,500
Maiden Reinsurance North America, Inc. Sale \| Discontinued Operations, Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Reinsurance recoverable on unpaid losses	$ 70,158				$ 92,728				$ 70,158	$ 92,728

Goodwill and Intangible Assets - Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Intangible Assets, Net (Including Goodwill) [Roll Forward]
Goodwill, beginning balance	$ 57,192	$ 57,192
Goodwill, impairment loss	(57,192)
Goodwill, ending balance	0	57,192
Intangible assets, beginning balance	18,391	20,523
Intangible assets, amortization	(1,387)	(2,132)
Intangible assets, Impairment losses	(17,004)
Intangible assets, ending balance	0	18,391
Goodwill and Intangible assets, beginning balance	75,583	77,715
Goodwill and Intangible assets, ending balance	$ 0	$ 75,583

Goodwill and Intangible Assets - Components of Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Goodwill and Intangible Assets [Line Items]
Goodwill, Gross		$ 58,992
Balance, Gross		114,919
Accumulated Amortization		(37,536)
Accumulated Impairment		(1,800)
Accumulated Impairment		(1,800)
Goodwill, Net	$ 0	57,192	$ 57,192
Balance, Net	$ 0	75,583	$ 77,715
Customer relationships
Goodwill and Intangible Assets [Line Items]
Finite-lived, Gross		51,400
Accumulated Amortization		(37,536)
Finite-lived, Accumulated Impairment		0
Finite-lived assets, Net		13,864
Useful Life	15 years
State licenses
Goodwill and Intangible Assets [Line Items]
Indefinite, Gross		4,527
Indefinite, Accumulated Impairment		0
Indefinite-lived assets, Net		$ 4,527

Reinsurance (Details) - USD ($) $ in Thousands	12 Months Ended
Reinsurance (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Reinsurance Disclosures [Abstract]
Premiums written, Direct	$ 11,024	$ 5,765	$ 8,045
Premiums written, Assumed	2,006,774	2,072,326	2,080,984
Premiums written, Ceded	(3,201)	(40,714)	(121,358)
Premiums written, Net	2,014,597	2,037,377	1,967,671
Premium earned, Direct	10,733	6,579	9,766
Premium earned, Assumed	2,032,161	2,048,434	2,006,997
Premium earned, Ceded	(16,692)	(62,354)	(91,175)
Net premiums earned	2,026,202	1,992,659	1,925,588
Gross loss and LAE	1,885,232	1,601,011	1,349,739
Loss and LAE ceded	(5,111)	(45,578)	(60,227)
Net loss and loss adjustment expenses	$ 1,880,121	$ 1,555,433	$ 1,289,512

Reinsurance - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
Reinsurance - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Concentration Risk [Line Items]
Reinsurance recoverables on unpaid claims	$ 1,743
Reinsurance recoverable on unpaid losses	$ 1,743	$ 24,883	$ 35,948	$ 18,279
Reinsurance recoverable \| Customer concentration risk \| Rating A or better
Concentration Risk [Line Items]
Concentration risk, percentage	96.20%	99.50%

Reserve for Loss and Loss Adjustment Expenses (Details) - USD ($) $ in Thousands	3 Months Ended			12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2018	Dec. 31, 2017	Nov. 30, 2010
Insurance [Abstract]
Reserve for reported loss and LAE							$ 1,571,217	$ 1,393,560
Reserve for losses incurred but not reported (IBNR)							1,484,759	993,162
Reserve for loss and LAE	$ 3,055,976			$ 3,055,976	$ 2,386,722	$ 1,845,407	3,055,976	2,386,722
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Gross loss and LAE reserves, January 1				2,386,722	1,845,407	1,521,364
Less: reinsurance recoverable on unpaid losses, January 1				24,883	35,948	18,279
Net loss and LAE reserves, January 1				2,361,839	1,809,459	1,503,085
Net incurred losses related to Current year				1,431,484	1,271,860	1,158,435
Net incurred losses related to Prior years				448,637	283,573	131,077
Net incurred losses				1,880,121	1,555,433	1,289,512
Net paid losses related to Current year				(440,315)	(406,883)	(274,358)
Net paid losses related to Prior years				(723,451)	(651,608)	(684,172)
Net paid losses				(1,163,766)	(1,058,491)	(958,530)
Effect of foreign exchange movements				(23,961)	55,438	(24,608)
Net loss and LAE reserves, December 31				2,361,839	1,809,459	1,503,085	3,054,233	$ 2,361,839
Reinsurance recoverable on unpaid losses, December 31	1,743			1,743	24,883	35,948
Gross loss and LAE reserves, December 31	3,055,976			3,055,976	2,386,722	1,845,407
Segment Reporting Information [Line Items]
Adverse development, net				$ (403,211)	$ (247,175)	$ (76,969)
Percentage of prior year net loss and loss adjustment expense reserves				19.00%	15.70%	8.70%
Reserves acquired from loss portfolio transfer agreements							3,054,233
Diversified Reinsurance segment
Segment Reporting Information [Line Items]
Adverse development, net				$ (2,326)	$ (5,441)	$ (11,082)
Reserves acquired from loss portfolio transfer agreements									$ 98,827
AmTrust Reinsurance segment
Segment Reporting Information [Line Items]
Adverse development, net	(151,874)	$ 210,433	$ (139,024)	(399,200)	(239,896)	(54,000)
Increase in incurred losses associated with prior year earned premium				45,426	37,212
Premium earned attributable to to prior accident years				75,359	57,026
Other
Insurance [Abstract]
Reserve for loss and LAE	2,840			2,840			2,840
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Gross loss and LAE reserves, December 31	2,840			2,840
Segment Reporting Information [Line Items]
Adverse development, net				(1,685)	(1,838)	$ (11,887)
Reserves acquired from loss portfolio transfer agreements							2,840
Workers' Compensation \| AmTrust Reinsurance segment
Insurance [Abstract]
Reserve for loss and LAE	1,486,787			1,486,787			1,486,787
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Gross loss and LAE reserves, December 31	1,486,787			1,486,787
Segment Reporting Information [Line Items]
Adverse development, net				(151,269)	(126,603)
Reserves acquired from loss portfolio transfer agreements							1,486,787
European Hospital Liability \| AmTrust Reinsurance segment
Insurance [Abstract]
Reserve for loss and LAE	317,830			317,830			317,830
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Gross loss and LAE reserves, December 31	317,830			317,830
Segment Reporting Information [Line Items]
Adverse development, net				(95,794)
Reserves acquired from loss portfolio transfer agreements							317,830
General Liability \| AmTrust Reinsurance segment
Insurance [Abstract]
Reserve for loss and LAE	428,104			428,104			428,104
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Gross loss and LAE reserves, December 31	428,104			428,104
Segment Reporting Information [Line Items]
Adverse development, net				(78,317)	90,784
Reserves acquired from loss portfolio transfer agreements							428,104
Commercial Auto Liability \| AmTrust Reinsurance segment
Insurance [Abstract]
Reserve for loss and LAE	384,708			384,708			384,708
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Gross loss and LAE reserves, December 31	$ 384,708			384,708
Segment Reporting Information [Line Items]
Adverse development, net				$ (76,207)	$ 19,877
Reserves acquired from loss portfolio transfer agreements							$ 384,708

Reserve for Loss and Loss Adjustment Expenses - Prior year development (Details) - USD ($) $ in Thousands	3 Months Ended			12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Segment Reporting Information [Line Items]
Net incurred losses related to Prior years				$ 448,637	$ 283,573	$ 131,077
Percentage of prior year net loss and loss adjustment expense reserves				19.00%	15.70%	8.70%
Adverse development, net				$ 403,211	$ 247,175	$ 76,969
Diversified Reinsurance segment
Segment Reporting Information [Line Items]
Adverse development, net				2,326	5,441	11,082
AmTrust Reinsurance segment
Segment Reporting Information [Line Items]
Adverse development, net	$ 151,874	$ (210,433)	$ 139,024	399,200	239,896	54,000
Increase in incurred losses associated with prior year earned premium				45,426	37,212
Premium earned attributable to to prior accident years				75,359	57,026
AmTrust Reinsurance segment \| Commercial Auto Liability
Segment Reporting Information [Line Items]
Adverse development, net				76,207	(19,877)
AmTrust Reinsurance segment \| Workers' Compensation
Segment Reporting Information [Line Items]
Adverse development, net				151,269	126,603
AmTrust Reinsurance segment \| General Liability
Segment Reporting Information [Line Items]
Adverse development, net				78,317	(90,784)
Other
Segment Reporting Information [Line Items]
Adverse development, net				$ 1,685	$ 1,838	$ 11,887

Reserve for Loss and Loss Adjustment Expenses - Incurred losses and LAE and cumulative paid losses and LAE (Details)		12 Months Ended
	Jul. 01, 2007	Dec. 31, 2018 USD ($) Contract	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)	Dec. 31, 2012 USD ($)	Dec. 31, 2011 USD ($)	Nov. 30, 2010 USD ($)
Claims Development [Line Items]
Total net reserves		$ 3,054,233,000
Major contracts \| Contract		2
Typical insurance limit		$ 1,000,000
Diversified Reinsurance
Claims Development [Line Items]
Total net reserves										$ 98,827,000
AmTrust Reinsurance
Claims Development [Line Items]
Purchase significant reinsurance for losses above		$ 10,000,000
Share of loss net of reinsurance		40.00%
European Capital Solutions \| Diversified Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		$ 37,554,000
Total IBNR		14,380,000
Cumulative paid losses and LAE, net of reinsurance		10,712,000
Total net reserves		26,842,000
European Capital Solutions \| Accident Year 2016 \| Diversified Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		5,381,000	$ 4,996,000	$ 4,921,000
Total IBNR		452,000
Cumulative paid losses and LAE, net of reinsurance		3,357,000	2,372,000	798,000
European Capital Solutions \| Accident Year 2017 \| Diversified Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		10,054,000	8,732,000
Total IBNR		2,832,000
Cumulative paid losses and LAE, net of reinsurance		4,114,000	1,963,000
European Capital Solutions \| Accident Year 2018 \| Diversified Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		22,119,000
Total IBNR		11,096,000
Cumulative paid losses and LAE, net of reinsurance		3,241,000
International \| Diversified Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		449,379,000
Total IBNR		17,569,000
Cumulative paid losses and LAE, net of reinsurance		383,796,000
Total net reserves		65,583,000
International \| Accident Year 2010 \| Diversified Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		81,610,000	81,917,000	79,872,000	$ 77,749,000	$ 79,440,000	$ 79,623,000	$ 79,698,000	$ 80,309,000
Total IBNR		(950,000)
Cumulative paid losses and LAE, net of reinsurance		56,603,000	54,921,000	53,390,000	51,840,000	50,206,000	48,397,000	43,597,000	34,632,000
International \| Accident Year 2011 \| Diversified Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		49,857,000	49,611,000	49,221,000	49,397,000	49,443,000	49,239,000	49,231,000	50,633,000
Total IBNR		(52,000)
Cumulative paid losses and LAE, net of reinsurance		49,861,000	49,747,000	49,604,000	49,372,000	48,943,000	47,660,000	45,999,000	24,853,000
International \| Accident Year 2012 \| Diversified Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		49,915,000	50,196,000	49,941,000	49,873,000	49,751,000	49,440,000	51,171,000
Total IBNR		32,000
Cumulative paid losses and LAE, net of reinsurance		45,691,000	45,577,000	45,010,000	44,677,000	43,554,000	41,099,000	24,061,000
International \| Accident Year 2013 \| Diversified Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		52,586,000	52,366,000	51,760,000	52,223,000	50,843,000	45,565,000
Total IBNR		(84,000)
Cumulative paid losses and LAE, net of reinsurance		48,923,000	48,708,000	48,240,000	46,873,000	44,322,000	24,653,000
International \| Accident Year 2014 \| Diversified Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		48,531,000	48,758,000	48,839,000	48,917,000	42,993,000
Total IBNR		192,000
Cumulative paid losses and LAE, net of reinsurance		46,385,000	46,128,000	44,886,000	42,577,000	24,037,000
International \| Accident Year 2015 \| Diversified Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		44,711,000	45,274,000	44,751,000	43,329,000
Total IBNR		(689,000)
Cumulative paid losses and LAE, net of reinsurance		42,951,000	41,919,000	39,829,000	22,007,000
International \| Accident Year 2016 \| Diversified Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		40,341,000	41,003,000	39,081,000
Total IBNR		(235,000)
Cumulative paid losses and LAE, net of reinsurance		38,793,000	36,963,000	22,739,000
International \| Accident Year 2017 \| Diversified Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		36,779,000	37,327,000
Total IBNR		2,904,000
Cumulative paid losses and LAE, net of reinsurance		33,765,000	19,345,000
International \| Accident Year 2018 \| Diversified Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		45,049,000
Total IBNR		16,451,000
Cumulative paid losses and LAE, net of reinsurance		20,824,000
Workers' Compensation \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		3,812,200,000
Total IBNR		734,005,000
Cumulative paid losses and LAE, net of reinsurance		2,326,753,000
All outstanding liabilities prior to 2008, net of reinsurance		1,340,000
Total net reserves		1,486,787,000
Workers' Compensation \| Accident Year 2008 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		84,710,000	83,622,000	83,039,000	82,301,000	81,240,000	82,438,000	81,493,000	80,800,000
Total IBNR		852,000
Cumulative paid losses and LAE, net of reinsurance		82,436,000	81,159,000	79,230,000	78,161,000	77,370,000	76,018,000	72,823,000	68,400,000
Workers' Compensation \| Accident Year 2009 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		110,175,000	107,165,000	105,901,000	106,204,000	109,213,000	103,864,000	102,245,000	102,240,000
Total IBNR		2,671,000
Cumulative paid losses and LAE, net of reinsurance		101,823,000	100,103,000	98,811,000	96,396,000	93,425,000	89,462,000	83,464,000	71,963,000
Workers' Compensation \| Accident Year 2010 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		127,215,000	123,968,000	124,073,000	125,020,000	120,243,000	118,209,000	113,880,000	106,799,000
Total IBNR		4,538,000
Cumulative paid losses and LAE, net of reinsurance		115,959,000	115,014,000	114,639,000	108,171,000	103,280,000	95,120,000	82,614,000	61,322,000
Workers' Compensation \| Accident Year 2011 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		138,600,000	135,379,000	133,916,000	133,995,000	132,728,000	130,712,000	125,549,000	104,923,000
Total IBNR		5,898,000
Cumulative paid losses and LAE, net of reinsurance		124,315,000	122,579,000	115,966,000	114,107,000	105,584,000	91,414,000	69,357,000	33,089,000
Workers' Compensation \| Accident Year 2012 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		192,087,000	181,616,000	172,692,000	171,040,000	173,946,000	168,016,000	136,960,000
Total IBNR		12,904,000
Cumulative paid losses and LAE, net of reinsurance		164,512,000	158,807,000	150,543,000	138,706,000	119,059,000	88,382,000	45,030,000
Workers' Compensation \| Accident Year 2013 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		276,249,000	261,915,000	242,447,000	238,392,000	245,765,000	237,019,000
Total IBNR		24,268,000
Cumulative paid losses and LAE, net of reinsurance		227,502,000	216,527,000	199,300,000	168,785,000	121,182,000	56,249,000
Workers' Compensation \| Accident Year 2014 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		457,363,000	419,748,000	382,260,000	365,515,000	379,589,000
Total IBNR		47,331,000
Cumulative paid losses and LAE, net of reinsurance		355,414,000	321,258,000	268,467,000	189,954,000	69,512,000
Workers' Compensation \| Accident Year 2015 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		551,145,000	526,269,000	474,212,000	474,140,000
Total IBNR		67,629,000
Cumulative paid losses and LAE, net of reinsurance		388,640,000	338,642,000	246,616,000	86,695,000
Workers' Compensation \| Accident Year 2016 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		627,728,000	568,006,000	528,906,000
Total IBNR		113,373,000
Cumulative paid losses and LAE, net of reinsurance		380,602,000	284,501,000	110,051,000
Workers' Compensation \| Accident Year 2017 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		654,362,000	615,957,000
Total IBNR		189,557,000
Cumulative paid losses and LAE, net of reinsurance		274,596,000	111,508,000
Workers' Compensation \| Accident Year 2018 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		592,566,000
Total IBNR		264,984,000
Cumulative paid losses and LAE, net of reinsurance		110,954,000
General Liability \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		945,448,000
Total IBNR		215,945,000
Cumulative paid losses and LAE, net of reinsurance		517,440,000
All outstanding liabilities prior to 2008, net of reinsurance		96,000
Total net reserves		428,104,000
General Liability \| Accident Year 2008 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		37,605,000	36,627,000	35,985,000	34,169,000	33,792,000	33,051,000	31,921,000	28,786,000
Total IBNR		558,000
Cumulative paid losses and LAE, net of reinsurance		36,699,000	34,935,000	32,765,000	32,423,000	32,849,000	29,384,000	26,288,000	20,935,000
General Liability \| Accident Year 2009 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		35,138,000	34,863,000	34,040,000	32,418,000	30,902,000	29,123,000	28,384,000	19,311,000
Total IBNR		512,000
Cumulative paid losses and LAE, net of reinsurance		33,473,000	32,878,000	30,924,000	28,312,000	24,298,000	19,727,000	13,904,000	7,840,000
General Liability \| Accident Year 2010 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		42,884,000	41,597,000	38,298,000	38,536,000	36,455,000	34,761,000	28,850,000	15,783,000
Total IBNR		400,000
Cumulative paid losses and LAE, net of reinsurance		39,214,000	37,317,000	34,125,000	30,948,000	26,429,000	19,010,000	11,187,000	5,140,000
General Liability \| Accident Year 2011 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		52,746,000	49,338,000	45,303,000	42,100,000	40,557,000	35,628,000	24,731,000	11,334,000
Total IBNR		85,000
Cumulative paid losses and LAE, net of reinsurance		47,141,000	41,257,000	39,350,000	31,619,000	22,963,000	12,158,000	6,072,000	2,813,000
General Liability \| Accident Year 2012 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		59,948,000	55,991,000	50,800,000	48,851,000	42,450,000	33,445,000	21,281,000
Total IBNR		(373,000)
Cumulative paid losses and LAE, net of reinsurance		53,526,000	45,775,000	40,864,000	29,752,000	18,020,000	13,224,000	5,084,000
General Liability \| Accident Year 2013 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		89,204,000	79,731,000	68,641,000	66,869,000	43,116,000	42,021,000
Total IBNR		4,239,000
Cumulative paid losses and LAE, net of reinsurance		70,074,000	58,377,000	44,698,000	32,249,000	10,226,000	4,996,000
General Liability \| Accident Year 2014 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		111,970,000	99,873,000	77,930,000	66,558,000	65,469,000
Total IBNR		10,930,000
Cumulative paid losses and LAE, net of reinsurance		77,259,000	57,678,000	36,026,000	24,581,000	3,503,000
General Liability \| Accident Year 2015 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		139,518,000	122,942,000	95,766,000	118,111,000
Total IBNR		21,911,000
Cumulative paid losses and LAE, net of reinsurance		79,291,000	52,350,000	33,963,000	20,849,000
General Liability \| Accident Year 2016 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		120,911,000	114,864,000	98,149,000
Total IBNR		30,371,000
Cumulative paid losses and LAE, net of reinsurance		45,855,000	21,959,000	6,402,000
General Liability \| Accident Year 2017 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		133,533,000	116,158,000
Total IBNR		59,757,000
Cumulative paid losses and LAE, net of reinsurance		27,001,000	6,967,000
General Liability \| Accident Year 2018 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		121,991,000
Total IBNR		87,555,000
Cumulative paid losses and LAE, net of reinsurance		7,907,000
Commercial Auto Liability \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		971,316,000
Total IBNR		199,230,000
Cumulative paid losses and LAE, net of reinsurance		586,589,000
All outstanding liabilities prior to 2008, net of reinsurance		(19,000)
Total net reserves		384,708,000
Commercial Auto Liability \| Accident Year 2008 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		35,382,000	35,521,000	35,975,000	34,584,000	34,522,000	33,700,000	32,769,000	29,890,000
Total IBNR		(86,000)
Cumulative paid losses and LAE, net of reinsurance		35,284,000	34,803,000	34,074,000	33,536,000	32,643,000	30,975,000	29,386,000	25,207,000
Commercial Auto Liability \| Accident Year 2009 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		31,033,000	30,919,000	30,468,000	31,024,000	30,812,000	28,551,000	26,275,000	22,183,000
Total IBNR		522,000
Cumulative paid losses and LAE, net of reinsurance		30,204,000	29,842,000	29,829,000	29,226,000	26,975,000	22,959,000	18,736,000	14,532,000
Commercial Auto Liability \| Accident Year 2010 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		41,996,000	42,146,000	40,523,000	40,193,000	38,043,000	37,154,000	33,457,000	26,239,000
Total IBNR		1,657,000
Cumulative paid losses and LAE, net of reinsurance		40,282,000	39,750,000	39,413,000	37,734,000	34,855,000	28,602,000	21,050,000	14,203,000
Commercial Auto Liability \| Accident Year 2011 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		36,065,000	36,149,000	34,790,000	33,839,000	32,578,000	29,577,000	24,292,000	16,193,000
Total IBNR		2,122,000
Cumulative paid losses and LAE, net of reinsurance		33,155,000	33,130,000	32,362,000	29,769,000	25,808,000	18,813,000	12,333,000	5,721,000
Commercial Auto Liability \| Accident Year 2012 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		45,753,000	46,150,000	48,116,000	44,812,000	40,076,000	32,691,000	20,863,000
Total IBNR		(159,000)
Cumulative paid losses and LAE, net of reinsurance		45,555,000	44,165,000	43,745,000	35,460,000	26,508,000	14,979,000	6,693,000
Commercial Auto Liability \| Accident Year 2013 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		62,163,000	63,162,000	59,702,000	50,647,000	44,771,000	33,473,000
Total IBNR		(86,000)
Cumulative paid losses and LAE, net of reinsurance		59,600,000	57,349,000	48,122,000	34,379,000	19,865,000	8,267,000
Commercial Auto Liability \| Accident Year 2014 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		89,299,000	82,427,000	73,966,000	55,023,000	47,525,000
Total IBNR		(195,000)
Cumulative paid losses and LAE, net of reinsurance		79,766,000	64,459,000	42,960,000	22,858,000	8,450,000
Commercial Auto Liability \| Accident Year 2015 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		119,141,000	106,560,000	92,955,000	66,967,000
Total IBNR		8,164,000
Cumulative paid losses and LAE, net of reinsurance		86,433,000	62,945,000	39,179,000	13,102,000
Commercial Auto Liability \| Accident Year 2016 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		144,077,000	118,210,000	121,828,000
Total IBNR		19,594,000
Cumulative paid losses and LAE, net of reinsurance		76,635,000	48,595,000	19,071,000
Commercial Auto Liability \| Accident Year 2017 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		189,257,000	156,575,000
Total IBNR		63,652,000
Cumulative paid losses and LAE, net of reinsurance		69,657,000	26,863,000
Commercial Auto Liability \| Accident Year 2018 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		177,150,000
Total IBNR		104,045,000
Cumulative paid losses and LAE, net of reinsurance		30,018,000
European Hospital Liability \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		591,332,000
Total IBNR		62,824,000
Cumulative paid losses and LAE, net of reinsurance		273,502,000
Total net reserves		317,830,000
European Hospital Liability \| Accident Year 2011 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		61,308,000	63,939,000	65,940,000	47,888,000	50,344,000	36,438,000	23,539,000	50,395,000
Total IBNR		(1,161,000)
Cumulative paid losses and LAE, net of reinsurance		46,220,000	41,966,000	36,272,000	29,193,000	23,865,000	13,005,000	4,408,000	1,113,000
European Hospital Liability \| Accident Year 2012 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		114,627,000	88,696,000	93,673,000	104,716,000	81,665,000	82,465,000	80,912,000
Total IBNR		4,749,000
Cumulative paid losses and LAE, net of reinsurance		78,214,000	70,069,000	59,425,000	46,221,000	35,487,000	15,593,000	4,877,000
European Hospital Liability \| Accident Year 2013 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		100,312,000	78,261,000	85,591,000	65,152,000	62,456,000	49,712,000
Total IBNR		4,522,000
Cumulative paid losses and LAE, net of reinsurance		56,372,000	50,302,000	40,015,000	26,225,000	15,243,000	3,030,000
European Hospital Liability \| Accident Year 2014 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		81,846,000	64,909,000	58,335,000	54,462,000	51,720,000
Total IBNR		5,846,000
Cumulative paid losses and LAE, net of reinsurance		39,884,000	35,544,000	24,974,000	12,014,000	4,265,000
European Hospital Liability \| Accident Year 2015 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		67,018,000	60,954,000	46,815,000	48,219,000
Total IBNR		5,329,000
Cumulative paid losses and LAE, net of reinsurance		29,511,000	23,124,000	11,200,000	3,522,000
European Hospital Liability \| Accident Year 2016 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		68,023,000	51,973,000	45,146,000
Total IBNR		8,942,000
Cumulative paid losses and LAE, net of reinsurance		17,888,000	10,796,000	3,634,000
European Hospital Liability \| Accident Year 2017 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		52,954,000	41,562,000
Total IBNR		13,172,000
Cumulative paid losses and LAE, net of reinsurance		4,479,000	1,297,000
European Hospital Liability \| Accident Year 2018 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		45,244,000
Total IBNR		21,425,000
Cumulative paid losses and LAE, net of reinsurance		934,000
All other lines \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		469,568,000
Total IBNR		41,376,000
Cumulative paid losses and LAE, net of reinsurance		396,186,000
All outstanding liabilities prior to 2008, net of reinsurance		(1,000)
Total net reserves		73,381,000
All other lines \| Accident Year 2008 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		29,574,000	29,576,000	29,070,000	29,237,000	29,149,000	28,715,000	28,724,000	27,630,000
Total IBNR		58,000
Cumulative paid losses and LAE, net of reinsurance		30,683,000	30,833,000	29,177,000	29,388,000	31,217,000	29,900,000	29,710,000	25,776,000
All other lines \| Accident Year 2009 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		15,653,000	16,088,000	14,492,000	14,309,000	13,329,000	11,959,000	20,349,000	12,516,000
Total IBNR		397,000
Cumulative paid losses and LAE, net of reinsurance		15,051,000	15,224,000	13,870,000	13,105,000	11,093,000	8,743,000	8,084,000	7,891,000
All other lines \| Accident Year 2010 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		17,059,000	17,071,000	16,105,000	16,078,000	15,484,000	24,718,000	15,182,000	14,440,000
Total IBNR		1,213,000
Cumulative paid losses and LAE, net of reinsurance		16,786,000	16,919,000	16,058,000	15,748,000	15,375,000	13,012,000	12,332,000	12,373,000
All other lines \| Accident Year 2011 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		23,506,000	23,376,000	22,616,000	22,359,000	27,509,000	26,343,000	19,948,000	18,822,000
Total IBNR		1,157,000
Cumulative paid losses and LAE, net of reinsurance		23,661,000	23,892,000	22,715,000	22,044,000	21,279,000	17,571,000	16,424,000	$ 13,840,000
All other lines \| Accident Year 2012 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		20,260,000	19,850,000	18,673,000	21,898,000	19,426,000	18,443,000	14,697,000
Total IBNR		1,961,000
Cumulative paid losses and LAE, net of reinsurance		18,685,000	18,205,000	17,946,000	16,936,000	16,033,000	14,031,000	$ 10,308,000
All other lines \| Accident Year 2013 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		21,669,000	21,313,000	22,918,000	28,058,000	17,630,000	17,806,000
Total IBNR		1,535,000
Cumulative paid losses and LAE, net of reinsurance		20,447,000	20,456,000	20,258,000	17,509,000	15,997,000	$ 11,877,000
All other lines \| Accident Year 2014 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		26,278,000	24,958,000	26,021,000	25,268,000	20,597,000
Total IBNR		341,000
Cumulative paid losses and LAE, net of reinsurance		26,194,000	22,018,000	20,940,000	20,277,000	$ 12,028,000
All other lines \| Accident Year 2015 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		49,463,000	49,631,000	54,857,000	52,706,000
Total IBNR		7,284,000
Cumulative paid losses and LAE, net of reinsurance		41,962,000	42,631,000	45,208,000	$ 28,929,000
All other lines \| Accident Year 2016 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		72,384,000	74,948,000	79,654,000
Total IBNR		6,203,000
Cumulative paid losses and LAE, net of reinsurance		65,452,000	69,805,000	$ 42,795,000
All other lines \| Accident Year 2017 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		96,812,000	104,637,000
Total IBNR		10,796,000
Cumulative paid losses and LAE, net of reinsurance		80,726,000	$ 48,903,000
All other lines \| Accident Year 2018 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance		96,910,000
Total IBNR		10,431,000
Cumulative paid losses and LAE, net of reinsurance		56,539,000
Operating Segments \| Diversified Reinsurance
Claims Development [Line Items]
Total net reserves		103,846,000
Operating Segments \| AmTrust Reinsurance
Claims Development [Line Items]
Total net reserves		$ 2,947,547,000
AmTrust Financial Services, Inc. \| AmTrust Quota Share Reinsurance Agreement
Claims Development [Line Items]
Percent of losses with respect to current lines of business, excluding those above covered business threshold to related party	40.00%
AmTrust Financial Services, Inc. \| AmTrust Quota Share Reinsurance Agreement \| Minimum
Claims Development [Line Items]
Commission rate, adjustment criteria, loss ratio floor	81.50%
AmTrust Financial Services, Inc. \| AmTrust Quota Share Reinsurance Agreement \| Maximum
Claims Development [Line Items]
Commission rate, adjustment criteria, loss ratio ceiling	95.00%

Reserve for Loss and Loss Adjustment Expenses - Reconciliation of claim development to reserve for loss and LAE (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Nov. 30, 2010
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Total Net Reserves	$ 3,054,233
Reinsurance recoverables on unpaid claims	1,743
Reserve for loss and loss adjustment expenses	3,055,976	$ 2,386,722	$ 1,845,407	$ 1,521,364
Diversified Reinsurance
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Total Net Reserves					$ 98,827
Operating Segments \| Diversified Reinsurance
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Total Net Reserves	103,846
Reinsurance recoverables on unpaid claims	1,743
Reserve for loss and loss adjustment expenses	105,589
Operating Segments \| AmTrust Reinsurance segment
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Total Net Reserves	2,947,547
Reinsurance recoverables on unpaid claims	0
Reserve for loss and loss adjustment expenses	2,947,547
Other
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Total Net Reserves	2,840
Reinsurance recoverables on unpaid claims	0
Reserve for loss and loss adjustment expenses	2,840
International \| Diversified Reinsurance
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Total Net Reserves	65,583
Reserve for loss and loss adjustment expenses	67,326
European Capital Solutions \| Diversified Reinsurance
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Total Net Reserves	26,842
Reinsurance recoverables on unpaid claims	0
Reserve for loss and loss adjustment expenses	26,842
Workers' Compensation \| AmTrust Reinsurance segment
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Total Net Reserves	1,486,787
Reinsurance recoverables on unpaid claims	0
Reserve for loss and loss adjustment expenses	1,486,787
General Liability \| AmTrust Reinsurance segment
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Total Net Reserves	428,104
Reinsurance recoverables on unpaid claims	0
Reserve for loss and loss adjustment expenses	428,104
Commercial Auto Liability \| AmTrust Reinsurance segment
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Total Net Reserves	384,708
Reinsurance recoverables on unpaid claims	0
Reserve for loss and loss adjustment expenses	384,708
European Hospital Liability \| AmTrust Reinsurance segment
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Total Net Reserves	317,830
Reinsurance recoverables on unpaid claims	0
Reserve for loss and loss adjustment expenses	317,830
All other lines \| AmTrust Reinsurance segment
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Total Net Reserves	73,381
Reinsurance recoverables on unpaid claims	0
Reserve for loss and loss adjustment expenses	73,381
Total \| AmTrust Reinsurance segment
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Total Net Reserves	2,690,810
Reinsurance recoverables on unpaid claims	0
Reserve for loss and loss adjustment expenses	2,690,810
Other \| Diversified Reinsurance
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Total Net Reserves	11,421
Reinsurance recoverables on unpaid claims	0
Reserve for loss and loss adjustment expenses	11,421
Other \| AmTrust Reinsurance segment
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Total Net Reserves	256,737
Reinsurance recoverables on unpaid claims	0
Reserve for loss and loss adjustment expenses	$ 256,737

Reserve for Loss and Loss Adjustment Expenses - Historical average annual payout (Details)	Dec. 31, 2018
International \| Diversified Reinsurance
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Year 1	50.00%
Year 2	39.00%
Year 3	4.00%
Year 4	2.00%
Year 5	0.00%
Year 6	0.00%
Year 7	1.00%
Year 8	4.00%
European Capital Solutions \| Diversified Reinsurance
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Year 1	16.10%
Year 2	26.00%
Year 3	20.40%
Year 4	0.00%
Year 5	0.00%
Year 6	0.00%
Year 7	0.00%
Year 8	0.00%
Workers' Compensation \| AmTrust Reinsurance
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Year 1	19.00%
Year 2	25.80%
Year 3	16.40%
Year 4	10.30%
Year 5	6.20%
Year 6	3.30%
Year 7	3.30%
Year 8	1.10%
General Liability \| AmTrust Reinsurance
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Year 1	6.80%
Year 2	11.70%
Year 3	14.50%
Year 4	18.30%
Year 5	16.60%
Year 6	11.10%
Year 7	8.50%
Year 8	7.20%
Commercial Auto Liability \| AmTrust Reinsurance
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Year 1	13.50%
Year 2	19.60%
Year 3	21.50%
Year 4	19.70%
Year 5	14.50%
Year 6	6.20%
Year 7	4.70%
Year 8	1.40%
European Hospital Liability \| AmTrust Reinsurance
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Year 1	3.70%
Year 2	9.20%
Year 3	14.40%
Year 4	12.70%
Year 5	8.90%
Year 6	9.00%
Year 7	8.20%
Year 8	6.90%
All other lines \| AmTrust Reinsurance
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Year 1	54.70%
Year 2	26.20%
Year 3	1.80%
Year 4	5.80%
Year 5	8.10%
Year 6	3.10%
Year 7	4.60%
Year 8	0.90%

Related Party Transactions - AmTrust (Details) $ in Thousands										12 Months Ended
	Jan. 30, 2019	Jan. 11, 2019 USD ($)	Jan. 04, 2019 USD ($)	Jul. 01, 2016	Jan. 01, 2012 EUR (€)	Apr. 01, 2011 EUR (€)	Mar. 01, 2011	Jun. 11, 2008	Jul. 01, 2007	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Dec. 17, 2017
Related Party Transaction [Line Items]
Net premiums earned										$ 2,026,202	$ 1,992,659	$ 1,925,588
Loan to related party										167,975	167,975
Balances due to subsidiaries										$ 50,975	2,193
Leah Karfunkel \| Maiden Holdings, Ltd.
Related Party Transaction [Line Items]
Noncontrolling interest, ownership percentage										8.20%
Leah Karfunkel \| National General Holdings Corp.
Related Party Transaction [Line Items]
Noncontrolling interest, ownership percentage										39.40%
Barry Zyskind \| Maiden Holdings, Ltd.
Related Party Transaction [Line Items]
Noncontrolling interest, ownership percentage										7.70%
George Karfunkel, less than \| Maiden Holdings, Ltd.
Related Party Transaction [Line Items]
Noncontrolling interest, ownership percentage										5.00%
Founding shareholders \| AmTrust Financial Services, Inc.
Related Party Transaction [Line Items]
Controlling interest, ownership percentage										53.90%
AmTrust Financial Services, Inc.
Related Party Transaction [Line Items]
Loan to related party										$ 167,975	$ 167,975
AmTrust Financial Services, Inc. \| Federal funds rate
Related Party Transaction [Line Items]
Loan to related party, Basis spread on LIBOR										2.00%
AmTrust Financial Services, Inc. \| LIBOR
Related Party Transaction [Line Items]
Loan to related party, Basis spread on LIBOR											0.90%		0.90%
AmTrust Financial Services, Inc. \| AmTrust Quota Share Reinsurance Agreement
Related Party Transaction [Line Items]
Percent of premiums written, net of cost of unaffiliated inuring reinsurance from related party									40.00%
Percent of losses with respect to current lines of business, excluding those above covered business threshold to related party									40.00%
Commission rate, percent of ceded written premiums								34.375%	31.00%	20.00%
Contract extension (in years)				3 years
Cancellation notice period upon the occurrence of certain early termination events (in days)									30 days
Early termination events, reduction threshold of stockholders' equity									50.00%
Written notice period									9 months
AmTrust Financial Services, Inc. \| AmTrust Quota Share Reinsurance Agreement \| Minimum
Related Party Transaction [Line Items]
Commission rate, adjustment criteria, loss ratio floor									81.50%
AmTrust Financial Services, Inc. \| AmTrust Quota Share Reinsurance Agreement \| Maximum
Related Party Transaction [Line Items]
Commission rate, adjustment criteria, loss ratio ceiling									95.00%
AmTrust Financial Services, Inc. \| AmTrust European Hospital Liability Quota Share Agreement
Related Party Transaction [Line Items]
Commission rate, percent of ceded written premiums						5.00%
Premiums and losses related to policies				32.50%		40.00%
Maximum limit of liability attaching \| €					€ 10,000,000	€ 5,000,000
Percent basis currency equivalent of maximum limit of liability attaching						100.00%
Future premiums and losses related to policies				20.00%
AmTrust Financial Services, Inc. \| Reinsurer Trust Assets Collateral Agreement
Related Party Transaction [Line Items]
Collateral held by related party										$ 3,650,418	$ 3,328,757
Accrued interest on collateral held by related party										23,283	20,830
AmTrust Financial Services, Inc. \| Reinsurance Brokerage Agreements
Related Party Transaction [Line Items]
Cancellation notice period									30 days
Brokerage fee, percent of premium assumed									1.25%
AmTrust Financial Services, Inc. \| Reinsurance Brokerage Agreements \| Brokerage expense
Related Party Transaction [Line Items]
Expenses recorded from related party transactions										24,103	24,624	24,146
Balances due to subsidiaries										$ 14,199	14,741
AmTrust Financial Services, Inc. \| Asset Management Agreement
Related Party Transaction [Line Items]
Cancellation notice period									30 days
Quarterly brokerage fee, above portfolio threshold, percent of average holdings									0.0375%	0.02125%
AmTrust Financial Services, Inc. \| Asset Management Agreement \| Investment Management Fee
Related Party Transaction [Line Items]
Expenses recorded from related party transactions										$ 4,189	7,474	6,925
AmTrust Financial Services, Inc. \| AmTrust Time Sharing Agreement
Related Party Transaction [Line Items]
Contract extension (in years)							1 year
AmTrust Financial Services, Inc. \| AmTrust Time Sharing Agreement \| Aircraft expenses
Related Party Transaction [Line Items]
Expenses recorded from related party transactions										$ 69	$ 39	$ 61
AmTrust Financial Services, Inc. \| National General Holdings Corp.
Related Party Transaction [Line Items]
Noncontrolling interest, ownership percentage										1.50%
Subsequent event \| AmTrust Financial Services, Inc. \| AmTrust Quota Share Reinsurance Agreement
Related Party Transaction [Line Items]
Commission rate, percent of ceded written premiums	20.00%
Subsequent event \| AmTrust Financial Services, Inc. \| AmTrust Quota Share Reinsurance Agreement \| Returned Gross Unearned Premiums
Related Party Transaction [Line Items]
Related party transaction amount			$ (716,100)
Subsequent event \| AmTrust Financial Services, Inc. \| AmTrust Quota Share Reinsurance Agreement \| Returned Unearned Premiums, Net
Related Party Transaction [Line Items]
Related party transaction amount		$ (575,000)	$ (480,000)
Subsequent event \| AmTrust Financial Services, Inc. \| AmTrust European Hospital Liability Quota Share Agreement
Related Party Transaction [Line Items]
Premiums and losses related to policies	40.00%

Related Party Transactions - AmTrust Quota Share Agreements (Details) - USD ($) $ in Thousands				12 Months Ended
	Jul. 01, 2016	Mar. 01, 2011	Jul. 01, 2007	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Related Party Transaction [Line Items]
Gross premiums written				$ 2,017,798	$ 2,078,091	$ 2,089,029
Net premiums earned				2,026,202	1,992,659	1,925,588
Net loss and LAE				(1,880,121)	(1,555,433)	(1,289,512)
Commission and other acquisition expenses				(654,740)	(643,797)	(615,523)
AmTrust Quota Share Reinsurance Agreement \| AmTrust Financial Services, Inc.
Related Party Transaction [Line Items]
Contract extension (in years)	3 years
Written notice period			9 months
Cancellation notice period upon the occurrence of certain early termination events (in days)			30 days
Quota Share Reinsurance Agreements \| AmTrust Financial Services, Inc.
Related Party Transaction [Line Items]
Gross premiums written				1,886,280	1,993,478	2,006,646
Net premiums earned				1,928,208	1,969,907	1,931,656
Net loss and LAE				(1,810,667)	(1,549,064)	(1,287,035)
Commission and other acquisition expenses				$ (622,495)	$ (630,376)	$ (614,882)
AmTrust Time Sharing Agreement \| AmTrust Financial Services, Inc.
Related Party Transaction [Line Items]
Contract extension (in years)		1 year

Related Party Transactions - NGHC (Details) - USD ($) $ in Thousands		12 Months Ended
	Mar. 01, 2010	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Related Party Transaction [Line Items]
Premiums earned		$ 2,026,202	$ 1,992,659	$ 1,925,588
National General Holdings Corp. \| NGHC Quota Share Reinsurance Agreement
Related Party Transaction [Line Items]
Percent participation in quota share by subsidiary	50.00%
Percent of net premiums of personal lines business received by subsidiary	25.00%
Percent of net losses related to premiums of personal lines business assumed by reinsurers	25.00%

Long-Term Debt - Narrative (Details) - USD ($) $ in Thousands		12 Months Ended
	Jun. 27, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Interest paid		$ 19,106	$ 23,106	$ 27,897
Accelerated amortization of debt issuance cost		0	2,809	2,345
Interest expense		19,318	23,260	28,173
Senior Notes
Debt Instrument [Line Items]
Interest paid		19,106
Principal amount, debt		262,500	262,500
Interest expense			22,996	27,827
Accrued interest		1,342	1,342
Amortization expense, debt issuance costs		$ 212	264	$ 346
2012 Senior Notes \| Senior Notes
Debt Instrument [Line Items]
Redemption price percentage	100.00%
Principal amount, debt	$ 100,000
Accelerated amortization of debt issuance cost			$ 2,809

Long-Term Debt - Senior Notes Issuances (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Less unamortized issuance costs	$ 7,806,000	$ 8,018,000
Senior notes, net	254,694,000	254,482,000
Senior Notes
Debt Instrument [Line Items]
Principal amount	262,500,000	262,500,000
Less unamortized issuance costs	7,806,000	8,018,000
Senior notes, net	254,694,000	254,482,000
Senior Notes \| 2016 Senior Notes
Debt Instrument [Line Items]
Principal amount	110,000,000	110,000,000
Less unamortized issuance costs	3,610,000	3,654,000
Senior notes, net	106,390,000	106,346,000
Original debt issuance costs	$ 3,715,000
Coupon rate	6.625%
Effective interest rate	7.07%
Senior Notes \| 2013 Senior Notes
Debt Instrument [Line Items]
Principal amount	$ 152,500,000
Less unamortized issuance costs	4,196,000	4,364,000
Senior notes, net	148,304,000	$ 148,136,000
Original debt issuance costs	$ 5,054,000
Coupon rate	7.75%
Effective interest rate	8.04%

Commitments, Contingencies and Concentrations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Loss Contingencies [Line Items]
Gross premiums written	$ 2,017,798	$ 2,078,091	$ 2,089,029
Letters of credit outstanding	88,327	83,903
Rent expense	2,318	2,196	1,616
2019	1,442
2020	1,228
2021	772
2022	750
Total	4,192
Letter of credit
Loss Contingencies [Line Items]
Collateral	111,134	114,172
AmTrust Reinsurance
Loss Contingencies [Line Items]
Gross premiums written	1,886,280	1,993,478	$ 2,006,646
Investment in limited partnerships
Loss Contingencies [Line Items]
Unfunded commitment on investments in limited partnerships	414	$ 306
Other investments
Loss Contingencies [Line Items]
Unfunded commitment on investments in limited partnerships	$ 7,359
Segment concentration risk \| Gross premiums written \| AmTrust Reinsurance
Loss Contingencies [Line Items]
Concentration risk, percentage	93.50%	95.90%	96.10%

Earnings per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended								12 Months Ended
	Sep. 15, 2016	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net (loss) income from continuing operations		$ (216,692)	$ (240,413)	$ (5,535)	$ 12,348	$ (116,466)	$ (43,983)	$ (1,927)	$ 14,727	$ (450,292)	$ (147,649)	$ 79,060
Add: net (income) loss attributable to noncontrolling interests										(219)	(151)	842
Net (loss) income attributable to Maiden from continuing operations										(450,511)	(147,800)	79,902
Dividends on preference shares										(25,636)	(29,156)	(33,756)
Amount allocated to participating common shareholders										(17)	(23)	(7)
(Loss) income attributable to Maiden common shareholders, before discontinued operations										(476,164)	(176,979)	46,139
Loss from discontinued operations, net of income tax		$ (52,504)	$ (59,819)	$ 8,215	$ 9,995	$ (8,391)	$ (11,071)	$ (14,408)	$ 11,774	(94,113)	(22,096)	(30,922)
Numerator for basic and diluted EPS - net (loss) income allocated to Maiden common shareholders after assumed conversion(2)										$ (570,277)	$ (199,075)	$ 15,217
Weighted average number of common shares – basic (in shares)										83,050,362	85,678,232	77,534,860
Potentially dilutive securities:
Share options and restricted share units (in shares)										0	0	1,152,083
Adjusted weighted average number of common shares and assumed conversions - diluted (in shares)										83,050,362	85,678,232	78,686,943
Basic (loss) earnings from continuing operations per share attributable to Maiden common shareholders (in dollars per share)		$ (2.61)	$ (3.00)	$ (0.17)	$ 0.05	$ (1.49)	$ (0.61)	$ (0.09)	$ 0.10	$ (5.74)	$ (2.06)	$ 0.60
Basic loss from discontinued operations per share attributable to Maiden common shareholders (in dollars per share)		(0.64)	(0.72)	0.10	0.12	(0.10)	(0.13)	(0.17)	0.14	(1.13)	(0.26)	(0.40)
Basic (loss) earnings per share attributable to Maiden common shareholders (in dollars per share)		(3.25)	(3.72)	(0.07)	0.17	(1.59)	(0.74)	(0.26)	0.24	(6.87)	(2.32)	0.20
Diluted (loss) earnings per share attributable to Maiden common shareholders (in dollars per share)		(2.61)	(3.00)	(0.17)	0.04	(1.49)	(0.61)	(0.09)	0.10	(5.74)	(2.06)	0.58
Diluted loss from discontinued operations per share attributable to Maiden common shareholders (in dollars per share)		(0.64)	(0.72)	0.10	0.12	(0.10)	(0.13)	(0.17)	0.13	(1.13)	(0.26)	(0.39)
Diluted (loss) earnings per share attributable to Maiden common shareholders (in dollars per share)		$ (3.25)	$ (3.72)	$ (0.07)	$ 0.16	$ (1.59)	$ (0.74)	$ (0.26)	$ 0.23	$ (6.87)	$ (2.32)	$ 0.19
Series A, C and D preferred stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dividends on preference shares										$ (25,636)	$ (29,156)	$ (24,785)
Series B Convertible Preference Shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dividends on preference shares										$ 0	$ 0	$ (8,971)
Potentially dilutive securities:
Mandatory conversion of Preference Shares - Series B	$ 165,000
Number of shares converted (in shares)	12,069,090									0	0	12,069,090
Common shares issued per convertible preference share (in shares)	3.6573

Shareholders' Equity - Narrative (Details)					1 Months Ended	12 Months Ended
Shareholders' Equity - Narrative (Details)	Jun. 15, 2017 USD ($) director $ / shares shares	Sep. 15, 2016 shares	Nov. 25, 2015 USD ($) director $ / shares shares	Aug. 22, 2012 USD ($) director $ / shares shares	Oct. 31, 2013 USD ($) $ / shares shares	Dec. 31, 2018 USD ($) $ / shares shares	Dec. 31, 2017 USD ($) $ / shares shares	Dec. 31, 2016 USD ($) $ / shares shares	Feb. 21, 2017 USD ($)	Dec. 31, 2015 shares
Class of Stock [Line Items]
Shares authorized (in shares) \| shares						150,000,000
Common shares, shares issued (in shares) \| shares						87,938,537	87,730,054
Common shares, shares outstanding (in shares) \| shares						82,948,577	82,974,895	86,271,109		73,721,140
Preference shares issued (in shares) \| shares						18,600,000
Shares undesignated (in shares) \| shares						43,461,463
Common shares, par value (in dollars per share)						$ 0.01	$ 0.01
Dividends on common stock (in dollars per share)						$ 0.35	$ 0.60	$ 0.57
Number of shares issued (in shares) \| shares						198,983	246,382	251,027
Proceeds from issuance of preference shares \| $						$ 0	$ 144,942,000	$ (143,000)
Preferred Stock, number of directors contingently electable \| director				2
Preferred stock, dividend default period				six or more dividend periods
Authorized amount of share repurchase program \| $									$ 100,000,000
Shares repurchased (in shares) \| shares						205,000	3,667,134
Shares repurchased, price per share (in dollars per share)						$ 3.31	$ 6.84
Remaining shares authorized \| $						$ 74,245,000	$ 74,924,000
Shares repurchased for tax withholding (in shares) \| shares						29,801	38,122	35,258
Shares repurchased for tax withholding for tax withholding (in dollars per share)						$ 6.52	$ 15.06	$ 13.33
Preference shares - Series D
Class of Stock [Line Items]
Number of shares issued (in shares) \| shares	6,000,000
Dividend rate of preference shares	6.70%
Par value of preference shares (in dollars per share)	$ 0.01
Fair value of share (in dollars per share)	$ 25
Proceeds from issuance of preference shares \| $	$ 144,942,000
Expenses and underwriting discounts \| $	$ 5,058,000
Preferred Stock, number of directors contingently electable \| director	2
Dividends on preference shares \| $	$ 5,025,000					$ 7,538,000
Dividends on preference shares (in dollars per share)						$ 1.2563	$ 0.8375
Redemption price for preference shares (in dollars per share)	$ 25
Preference Shares - Series C
Class of Stock [Line Items]
Number of shares issued (in shares) \| shares			6,600,000
Dividend rate of preference shares			7.125%
Par value of preference shares (in dollars per share)			$ 0.01
Fair value of share (in dollars per share)			$ 25
Proceeds from issuance of preference shares \| $			$ 159,485,000
Expenses and underwriting discounts \| $			$ 5,515,000
Sale price of preference shares (in dollars per share)			$ 25
Preferred Stock, number of directors contingently electable \| director			2
Dividends on preference shares \| $						$ 8,816,000	$ 11,756,000	$ 12,410,000
Dividends on preference shares (in dollars per share)						$ 1.3359	$ 1.7813	$ 1.8803
Redemption price for preference shares (in dollars per share)			$ 25
Mandatory Convertible Preference Shares - Series B
Class of Stock [Line Items]
Dividend rate of preference shares					7.25%
Par value of preference shares (in dollars per share)					$ 0.01
Fair value of share (in dollars per share)					$ 50
Proceeds from issuance of preference shares \| $					$ 159,675,000
Expenses and underwriting discounts \| $					$ 5,325,000
Sale price of preference shares (in dollars per share)					$ 50
Dividends on preference shares \| $								$ 8,971,000
Dividends on preference shares (in dollars per share)								$ 2.7188
Preference shares offered (in shares) \| shares					3,300,000
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, conversion rate measurement period					40 days
Series B Convertible Preference Shares
Class of Stock [Line Items]
Number of shares converted (in shares) \| shares		12,069,090				0	0	12,069,090
Common shares issued per convertible preference share (in shares) \| shares		3.6573
Preference shares – Series A
Class of Stock [Line Items]
Number of shares issued (in shares) \| shares				6,000,000
Dividend rate of preference shares				8.25%
Par value of preference shares (in dollars per share)				$ 0.01
Fair value of share (in dollars per share)				$ 25
Proceeds from issuance of preference shares \| $				$ 145,041,000
Expenses and underwriting discounts \| $				$ 4,959,000
Sale price of preference shares (in dollars per share)				$ 25
Dividends on preference shares \| $						$ 9,282,000	$ 12,375,000	$ 12,375,000
Dividends on preference shares (in dollars per share)						$ 1.5469	$ 2.0625	$ 2.0625
Redemption price for preference shares (in dollars per share)				$ 25

Shareholders' Equity - Schedule of Common Shares (Details) - shares		12 Months Ended
	Sep. 15, 2016	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issued and outstanding shares – January 1 (in shares)		82,974,895	86,271,109	73,721,140
Issuance of vested restricted shares and restricted share units (in shares)		198,983	246,382	251,027
Shares repurchased (in shares)		(234,801)	(3,705,256)	(35,258)
Exercise of options (in shares)		9,500	162,660	265,110
Issued and outstanding shares – December 31 (in shares)		82,948,577	82,974,895	86,271,109
Series B Convertible Preference Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Mandatory conversion of preference shares - Series B (in shares)	12,069,090	0	0	12,069,090

Shareholders' Equity - Changes in AOCI (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 1,232,626	$ 1,361,152
Other comprehensive income (loss) before reclassifications	(106,075)	234	$ 38,193
Amounts reclassified from AOCI to net income, net of tax	27,075	(1,816)	576
Other comprehensive (loss) income, after tax	(79,000)	(1,582)	38,769
Ending balance	554,916	1,232,626	1,361,152
Change in net unrealized gains on investment, including portion attributable to noncontrolling interest
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	21,889	(20,716)	(54,112)
Other comprehensive income (loss) before reclassifications	(108,726)	44,421	32,820
Amounts reclassified from AOCI to net income, net of tax	27,075	(1,816)	576
Other comprehensive (loss) income, after tax	(81,651)	42,605	33,396
Ending balance	(59,762)	21,889	(20,716)
Foreign currency translation adjustments, including portion attributable to noncontrolling interest
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(8,583)	35,604	30,231
Other comprehensive income (loss) before reclassifications	2,651	(44,187)	5,373
Amounts reclassified from AOCI to net income, net of tax	0	0	0
Other comprehensive (loss) income, after tax	2,651	(44,187)	5,373
Ending balance	(5,932)	(8,583)	35,604
AOCI including portion attributable to noncontrolling interest
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	13,306	14,888	(23,881)
Ending balance	(65,694)	13,306	14,888
Change in net unrealized gains on investment, attributable to noncontrolling interest
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	0	0
Ending balance	0	0	0
Foreign currency translation adjustments, attributable to noncontrolling interest
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(48)	(109)
Ending balance	(78)	(48)	(109)
AOCI attributable to noncontrolling interest
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(48)	(109)
Ending balance	(78)	(48)	(109)
Change in net unrealized gains on investment, attributable to Maiden shareholders
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	21,889	(20,716)
Ending balance	(59,762)	21,889	(20,716)
Foreign currency translation adjustments, attributable to Maiden shareholders
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(8,535)	35,713
Ending balance	(5,854)	(8,535)	35,713
AOCI attributable to Maiden shareholders
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	13,354	14,997	(23,767)
Ending balance	$ (65,616)	$ 13,354	$ 14,997

Shareholders' Equity - Reclassified out of AOCI (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net realized (losses) gains on investment									$ (1,529)	$ 12,222	$ 6,774
(Loss) income from continuing operations before income taxes									(449,851)	(154,406)	79,473
Income tax benefit									(441)	6,757	(413)
Net (loss) income	$ (269,196)	$ (300,232)	$ 2,680	$ 22,343	$ (124,857)	$ (55,054)	$ (16,335)	$ 26,501	(544,405)	(169,745)	48,138
Unrealized (losses) gains on AFS securities \| Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net realized (losses) gains on investment									(21,243)	1,816	(576)
Net impairment losses recognized in earnings									(5,832)	0	0
(Loss) income from continuing operations before income taxes									(27,075)	1,816	(576)
Income tax benefit									0	0	0
Net (loss) income									$ (27,075)	$ 1,816	$ (576)

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (a)
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+ Details

Share Compensation and Pension Plans - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
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
Options granted (in shares)	275,000		24,000
Weighted average grant date fair value (in dollars per share)	$ 2.08	$ 2.13	$ 2.10
Proceeds from stock options exercised	$ 31	$ 1,081	$ 1,931
Share-based expense	1,276	2,938	3,414
Defined contribution plans expense	$ 1,543	1,386	1,515
Share options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee service period	4 years
Expiration period	10 years
Unrecognized compensation cost related to non-vested share-based compensation arrangements	$ 178	12
Period of recognition (in years)	2 years 2 months 26 days
Performance-Based Restricted Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payout percentage based on formula	50.00%
Payout percentage based on CEO and Committee's discretion	50.00%
Vesting period (in years)	3 years
Non-Performance-Based Restricted Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	3 years
Fair value of units vested	$ 897	633	1,068
Non-Performance-Based Restricted Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of units vested	400	$ 357	$ 379
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost related to non-vested share-based compensation arrangements	$ 91
Period of recognition (in years)	5 months 1 day
Restricted Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost related to non-vested share-based compensation arrangements	$ 1,298
Period of recognition (in years)	2 years 7 months 13 days
Minimum \| Non-Performance-Based Restricted Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	2 years
Maximum \| Non-Performance-Based Restricted Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	3 years
Vesting on first anniversary of grant date \| Share options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	25.00%
Vesting on each quarter following first anniversary \| Share options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	6.25%
Performance cycle \| Performance-Based Restricted Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	3 years

Share Compensation and Pension Plans - Summary of Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Number of Share Options, Outstanding [Roll Forward]
Outstanding, start of period (in shares)	1,516,769	1,684,089	1,926,199
Granted (in shares)	275,000		24,000
Exercised (in shares)	(9,500)	(162,660)	(265,110)
Expired (in shares)	(1,038,510)	(4,660)	(1,000)
Forfeited (in shares)	(85,935)
Outstanding, end of period (in shares)	657,824	1,516,769	1,684,089	1,926,199
Total options exercisable outstanding, Number of Share Options (in shares)	467,824
Weighted Average Exercise Price [Roll Forward]
Outstanding, beginning of period (in dollars per share)	$ 7.03	$ 7.00	$ 6.96
Granted (in dollars per share)	7.07		13.12		$ 13.98
Exercised (in dollars per share)	3.28	6.64	7.28
Expired (in dollars per share)	6.50	9.92	7.67
Forfeited (in dollars per share)	7.23
Outstanding, end of period (in dollars per share)	7.92	$ 7.03	7.00	$ 6.96
Total options exercisable outstanding, Weighted Average Exercise Price (in dollars per share)	8.28
Weighted Average Grant-Date Fair Value (in dollars per share)	$ 1.36		$ 2.45
Outstanding, Weighted Average Remaining Contractual Term	4 years 4 months 24 days	2 years 5 months 12 days	3 years 4 months 9 days	4 years 1 month 24 days
Total options exercisable outstanding, Weighted Average Remaining Contractual Term	2 years 5 months 15 days
Options Outstanding, Aggregate Intrinsic Value	$ 0	$ 1,100	$ 17,598	$ 15,306
Options Exercised, Aggregate Intrinsic Value	5,715	$ 955	$ 1,453
Total options exercisable outstanding, Aggregate Intrinsic Value	$ 0
Minimum
Weighted Average Exercise Price [Roll Forward]
Outstanding, beginning of period (in dollars per share)	$ 3.28	$ 3.28	$ 3.28
Granted (in dollars per share)		3.24
Outstanding, end of period (in dollars per share)	3.24	3.28	3.28	$ 3.28
Total options exercisable outstanding, Weighted Average Exercise Price (in dollars per share)	3.24
Maximum
Weighted Average Exercise Price [Roll Forward]
Outstanding, beginning of period (in dollars per share)	13.98	13.98	13.98
Granted (in dollars per share)		7.20
Outstanding, end of period (in dollars per share)	13.98	$ 13.98	$ 13.98	$ 13.98
Total options exercisable outstanding, Weighted Average Exercise Price (in dollars per share)	$ 13.98

Share Compensation and Pension Plans - Restricted Stock Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Non-Performance-Based Restricted Share Units
Number of Restricted Units
Beginning Balance, Non-vested (in shares)	97,258	119,185	138,128
Awards granted (in shares)	25,000	25,000	75,988
Awards vested (in shares)	(71,928)	(46,927)	(94,931)
Awards forfeited (in shares)	(25,330)	0	0
Ending Balance, Non-vested (in shares)	25,000	97,258	119,185
Weighted Average Grant-Date Fair Value
Weighted average grant date fair value, beginning balance (in dollars per share)	$ 12.65	$ 13.42	$ 12.07
Awards granted (in dollars per share)	8.75	10.55	13.16
Awards vested (in dollars per share)	12.47	13.50	11.24
Awards forfeited (in dollars per share)	13.16	0	0
Weighted average grant date fair value, ending balance (in dollars per share)	$ 8.75	$ 12.65	$ 13.42
Non-Performance-Based Restricted Shares
Number of Restricted Units
Beginning Balance, Non-vested (in shares)	37,226	46,203	53,152
Awards granted (in shares)	268,971	17,500	23,000
Awards vested (in shares)	(27,726)	(26,477)	(29,949)
Awards forfeited (in shares)	(17,500)	0	0
Ending Balance, Non-vested (in shares)	260,971	37,226	46,203
Weighted Average Grant-Date Fair Value
Weighted average grant date fair value, beginning balance (in dollars per share)	$ 14.93	$ 13.42	$ 13.22
Awards granted (in dollars per share)	5.79	16.75	12.90
Awards vested (in dollars per share)	14.43	13.49	12.67
Awards forfeited (in dollars per share)	9.36	0	0
Weighted average grant date fair value, ending balance (in dollars per share)	$ 5.94	$ 14.93	$ 13.42
Performance-Based Restricted Share Units
Number of Restricted Units
Beginning Balance, Non-vested (in shares)	810,464	845,721	745,482
Awards granted (in shares)	734,668	284,130	355,544
Awards vested (in shares)	(99,931)	(110,976)	(85,847)
Awards forfeited (in shares)	(597,556)	(208,411)	(169,458)
Ending Balance, Non-vested (in shares)	847,645	810,464	845,721
Weighted Average Grant-Date Fair Value
Weighted average grant date fair value, beginning balance (in dollars per share)	$ 14.60	$ 12.88	$ 12.05
Awards granted (in dollars per share)	7.20	16.75	13.11
Awards vested (in dollars per share)	13.88	12.20	12.29
Awards forfeited (in dollars per share)	11.15	11.73	10.02
Weighted average grant date fair value, ending balance (in dollars per share)	$ 10.71	$ 14.60	$ 12.88

Statutory Requirements and Dividend Restrictions (Details) $ in Thousands						1 Months Ended	12 Months Ended
	Jan. 30, 2019	Jul. 01, 2016	Apr. 01, 2011	Jun. 11, 2008	Jul. 01, 2007	Jan. 31, 2019 USD ($)	Dec. 31, 2018 USD ($) subsidiary	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)
Statutory Accounting Practices [Line Items]
Net assets							$ 554,916	$ 1,232,626	$ 1,361,152
Intercompany proceeds							$ 125,000
Maximum dividend rate, percent of statutory capital and surplus							25.00%
Reduction to total statutory capital, percent threshold requiring approval							15.00%
SWEDEN
Statutory Accounting Practices [Line Items]
Number of subsidiaries, domiciled insurance \| subsidiary							2
Maiden Bermuda
Statutory Accounting Practices [Line Items]
Statutory Capital and Surplus							$ 869,886	1,205,991
Statutory Net Income (Loss)							(389,372)	(167,307)	87,888
Maiden Bermuda \| BERMUDA
Statutory Accounting Practices [Line Items]
Dividends or distributions limit							301,498
Dividends							0	105,000	445,000
Maiden LF
Statutory Accounting Practices [Line Items]
Statutory Capital and Surplus							7,607	8,552
Statutory Net Income (Loss)							(462)	(441)	756
Maiden LF \| SWEDEN
Statutory Accounting Practices [Line Items]
Dividends or distributions limit							1,873	2,507
Minimum solvency margin							4,243	4,442
Maiden GF
Statutory Accounting Practices [Line Items]
Statutory Capital and Surplus							6,192	6,417
Statutory Net Income (Loss)							98	(242)	0
Maiden GF \| SWEDEN
Statutory Accounting Practices [Line Items]
Minimum solvency margin							$ 4,243	$ 4,442	$ 6,135
Subsequent event
Statutory Accounting Practices [Line Items]
Intercompany proceeds						$ 70,000
AmTrust Financial Services, Inc. \| AmTrust Quota Share Reinsurance Agreement
Statutory Accounting Practices [Line Items]
Commission rate, percent of ceded written premiums				34.375%	31.00%		20.00%
AmTrust Financial Services, Inc. \| AmTrust Quota Share Reinsurance Agreement \| Subsequent event
Statutory Accounting Practices [Line Items]
Commission rate, percent of ceded written premiums	20.00%
AmTrust Financial Services, Inc. \| AmTrust European Hospital Liability Quota Share Agreement
Statutory Accounting Practices [Line Items]
Commission rate, percent of ceded written premiums			5.00%
Premiums and losses related to policies		32.50%	40.00%
AmTrust Financial Services, Inc. \| AmTrust European Hospital Liability Quota Share Agreement \| Subsequent event
Statutory Accounting Practices [Line Items]
Premiums and losses related to policies	40.00%

Taxation - Income before taxes and income tax expense (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Unrecognized tax benefits	$ 0	$ 0	$ 0
(Loss) income from continuing operations before income taxes – Domestic (Bermuda)	(424,667,000)	(140,874,000)	78,651,000
(Loss) income from continuing operations before income taxes – Foreign (U.S. and others)	(25,184,000)	(13,532,000)	822,000
Total (loss) income from continuing operations before income taxes	(449,851,000)	(154,406,000)	79,473,000
Current tax expense – Domestic (Bermuda)	0	0	0
Current tax expense – Foreign (U.S. and others)	501,000	669,000	490,000
Total current tax expense	501,000	669,000	490,000
Deferred tax expense – Domestic (Bermuda)	0	0	0
Deferred tax benefit – Foreign (U.S. and others)	(60,000)	(7,426,000)	(77,000)
Total deferred tax benefit	(60,000)	(7,426,000)	(77,000)
Total income tax expense (benefit)	$ 441,000	$ (6,757,000)	$ 413,000

Taxation - Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
(Loss) income from continuing operations before income taxes									$ (449,851)	$ (154,406)	$ 79,473
Less: income tax expense (benefit)									441	(6,757)	413
Net (loss) income from continuing operations	$ (216,692)	$ (240,413)	$ (5,535)	$ 12,348	$ (116,466)	$ (43,983)	$ (1,927)	$ 14,727	$ (450,292)	$ (147,649)	$ 79,060
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									1.10%	9.60%	(5.80%)
Rate change in the U.S.									0.00%	3.20%	0.00%
Valuation allowance in respect of U.S. taxes									(1.10%)	(8.30%)	5.80%
Other jurisdictions									(0.10%)	(0.10%)	0.50%
Actual tax rate									(0.10%)	4.40%	0.50%

Taxation - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Deferred tax assets:
Net operating losses	$ 44,119	$ 39,923
Capital loss carry-forward	12,345	0
Others	548	643
Deferred tax assets before valuation allowance	57,012	40,566
Valuation allowance	56,326	39,934
Deferred tax assets, net	686	632
Deferred tax liabilities:
Net unrealized gains on investment	33	78
Deferred tax liabilities	33	78
Net deferred tax asset	653	554
(Decrease) increase in valuation allowance	16,392	(23,479)
Capital loss carryforwards	58,785	0
U.S.
Deferred tax liabilities:
Net operating loss carry-forward	$ 208,853	$ 189,403

Subsequent Events (Details) - USD ($) $ in Thousands										12 Months Ended
Subsequent Events (Details) - USD ($) $ in Thousands	Mar. 01, 2019	Jan. 30, 2019	Jan. 16, 2019	Jan. 11, 2019	Jan. 04, 2019	Jul. 01, 2016	Apr. 01, 2011	Jun. 11, 2008	Jul. 01, 2007	Dec. 31, 2018
Subsequent event
Subsequent Event [Line Items]
Quota share reinsurance agreement, excess retention	$ 2,441,359
Quota share reinsurance agreement, amount retained	675,000
Adverse development cover	175,000
Cumulative ceded losses (exceeding)	$ 500,000
AmTrust Quota Share Reinsurance Agreement \| AmTrust Financial Services, Inc.
Subsequent Event [Line Items]
Commission rate, percent of ceded written premiums								34.375%	31.00%	20.00%
AmTrust Quota Share Reinsurance Agreement \| AmTrust Financial Services, Inc. \| Subsequent event
Subsequent Event [Line Items]
Commission rate, percent of ceded written premiums		20.00%
AmTrust European Hospital Liability Quota Share Agreement \| AmTrust Financial Services, Inc.
Subsequent Event [Line Items]
Commission rate, percent of ceded written premiums							5.00%
Premiums and losses related to policies						32.50%	40.00%
AmTrust European Hospital Liability Quota Share Agreement \| AmTrust Financial Services, Inc. \| Subsequent event
Subsequent Event [Line Items]
Premiums and losses related to policies		40.00%
Returned Gross Unearned Premiums \| AmTrust Quota Share Reinsurance Agreement \| AmTrust Financial Services, Inc. \| Subsequent event
Subsequent Event [Line Items]
Related party transaction amount					$ (716,100)
Returned Unearned Premiums, Net \| AmTrust Quota Share Reinsurance Agreement \| AmTrust Financial Services, Inc. \| Subsequent event
Subsequent Event [Line Items]
Related party transaction amount				$ (575,000)	$ (480,000)
Funds Withheld Arrangement \| AmTrust Quota Share Reinsurance Agreement \| AmTrust Financial Services, Inc. \| Subsequent event
Subsequent Event [Line Items]
Stated interest rate for funds withheld				3.50%
Allianz Partners \| Subsequent event
Subsequent Event [Line Items]
Quota share reinsurance agreement, term			3 years

Condensed Quarterly Financial Data - Unaudited (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Condensed Financial Statements, Captions [Line Items]
Total revenues from continuing operations	$ 515,113	$ 555,662	$ 540,267	$ 553,765	$ 519,074	$ 496,544	$ 563,116	$ 560,084	$ 2,164,807	$ 2,138,818	$ 2,051,868
Net (loss) income from continuing operations	(216,692)	(240,413)	(5,535)	12,348	(116,466)	(43,983)	(1,927)	14,727	(450,292)	(147,649)	79,060
Loss from discontinued operations, net of income tax	(52,504)	(59,819)	8,215	9,995	(8,391)	(11,071)	(14,408)	11,774	(94,113)	(22,096)	(30,922)
Net (loss) income	(269,196)	(300,232)	2,680	22,343	(124,857)	(55,054)	(16,335)	26,501	(544,405)	(169,745)	48,138
Net income (loss) attributable to Maiden common shareholders	$ (269,235)	(308,839)	(5,913)	13,727	(133,587)	(63,596)	(22,359)	20,490	(544,624)	(169,896)	48,980
Comprehensive loss – attributable to Maiden		$ (319,704)	$ (31,411)	$ (53,997)	$ (157,767)	$ (44,547)	$ 3,658	$ 27,117	$ (623,594)	$ (171,539)	$ 87,744
Basic (loss) earnings from continuing operations per share attributable to Maiden common shareholders (in dollars per share)	$ (2.61)	$ (3.00)	$ (0.17)	$ 0.05	$ (1.49)	$ (0.61)	$ (0.09)	$ 0.10	$ (5.74)	$ (2.06)	$ 0.60
Basic loss from discontinued operations per share attributable to Maiden common shareholders (in dollars per share)	(0.64)	(0.72)	0.10	0.12	(0.10)	(0.13)	(0.17)	0.14	(1.13)	(0.26)	(0.40)
Basic (loss) earnings per share attributable to Maiden common shareholders (in dollars per share)	(3.25)	(3.72)	(0.07)	0.17	(1.59)	(0.74)	(0.26)	0.24	(6.87)	(2.32)	0.20
Diluted (loss) earnings per share attributable to Maiden common shareholders (in dollars per share)	(2.61)	(3.00)	(0.17)	0.04	(1.49)	(0.61)	(0.09)	0.10	(5.74)	(2.06)	0.58
Diluted loss from discontinued operations per share attributable to Maiden common shareholders (in dollars per share)	(0.64)	(0.72)	0.10	0.12	(0.10)	(0.13)	(0.17)	0.13	(1.13)	(0.26)	(0.39)
Diluted (loss) earnings per share attributable to Maiden common shareholders (in dollars per share)	(3.25)	(3.72)	$ (0.07)	$ 0.16	$ (1.59)	(0.74)	$ (0.26)	$ 0.23	(6.87)	(2.32)	$ 0.19
Earnings per common share, basic, reduction from unfavorable reserve development (in dollar per share)	$ 1.83	$ (2.53)				$ (1.66)			$ 4.81	$ 2.80
Adverse development, net									$ 403,211	$ 247,175	$ 76,969
AmTrust Reinsurance segment
Condensed Financial Statements, Captions [Line Items]
Adverse development, net	$ 151,874	$ (210,433)				$ 139,024			$ 399,200	$ 239,896	$ 54,000

Schedule I Summary of Investments, Other than Investments in Related Parties (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Fixed Maturities, available-for-sale, Amortized cost	$ 3,109,980	$ 2,699,297
HTM securities, Amortized Cost	1,015,681	1,097,801
Other Investments, Amortized Cost
Total investments, Original or amortized cost	4,125,661	3,797,098
AFS fixed maturities	3,051,568	2,707,516
HTM securities, Fair value	998,012	1,125,626
Other investments, Fair value	23,716	6,600
U.S. treasury bonds
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Fixed Maturities, available-for-sale, Amortized cost	138,625	35,093
AFS fixed maturities	139,072	35,097
Amount at Which Shown in the Balance Sheet	139,072
U.S. agency bonds – mortgage-backed
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Fixed Maturities, available-for-sale, Amortized cost	1,485,716	1,475,682
AFS fixed maturities	1,453,134	1,468,140
Amount at Which Shown in the Balance Sheet	1,453,134
U.S. agency bonds – other
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Fixed Maturities, available-for-sale, Amortized cost	129,741	19,868
AFS fixed maturities	129,233	19,719
Amount at Which Shown in the Balance Sheet	129,233
Non-U.S. government and supranational bonds
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Fixed Maturities, available-for-sale, Amortized cost	11,212	32,380
AFS fixed maturities	10,072	30,898
Amount at Which Shown in the Balance Sheet	10,072
Asset-backed securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Fixed Maturities, available-for-sale, Amortized cost	216,072
AFS fixed maturities	215,082
Amount at Which Shown in the Balance Sheet	215,082
Corporate bonds
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Fixed Maturities, available-for-sale, Amortized cost	1,128,614	911,259
HTM securities, Amortized Cost	957,845	1,037,464
AFS fixed maturities	1,104,975	925,269
HTM securities, Fair value	940,727	$ 1,065,245
Amount at Which Shown in the Balance Sheet	1,104,975
Total AFS fixed maturities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Fixed Maturities, available-for-sale, Amortized cost	3,109,980
AFS fixed maturities	3,051,568
Amount at Which Shown in the Balance Sheet	3,051,568
HTM Corporate bonds
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
HTM securities, Amortized Cost	957,845
HTM securities, Fair value	940,727
Amount at Which Shown in the Balance Sheet	957,845
HTM Municipal bonds
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
HTM securities, Amortized Cost	57,836
HTM securities, Fair value	57,285
Amount at Which Shown in the Balance Sheet	57,836
HTM fixed maturities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
HTM securities, Amortized Cost	1,015,681
HTM securities, Fair value	998,012
Amount at Which Shown in the Balance Sheet	1,015,681
Other investments
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Other Investments, Amortized Cost	23,435
Other investments, Fair value	23,716
Amount at Which Shown in the Balance Sheet	$ 23,716

Schedule II Condensed Financial Information of Parent Company - Balance Sheet (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Condensed Financial Statements, Captions [Line Items]
Fixed maturities, available-for-sale, at fair value (Amortized cost 2018 - $0; 2017 - $68,952)	$ 3,051,568,000	$ 2,707,516,000
Other investments, at fair value (Cost 2018 - $500; 2017 - $500)	23,716,000	6,600,000
Cash and cash equivalents	200,841,000	54,470,000	$ 41,276,000
Goodwill	0	57,192,000	$ 57,192,000
Other assets	39,482,000	131,608,000
Total assets	5,287,460,000	6,644,189,000
Accrued expenses and other liabilities (includes $50,975 and $2,193 from related parties in 2018 and 2017, respectively)	65,494,000	90,069,000
Balances due to subsidiaries	50,975,000	2,193,000
Senior notes - principal amount	262,500,000	262,500,000
Less unamortized issuance costs	7,806,000	8,018,000
Senior notes, net	254,694,000	254,482,000
Total liabilities	4,732,544,000	5,411,563,000
Preference shares	465,000,000	465,000,000
Common shares ($0.01 par value; 87,938,537 and 87,730,054 shares issued in 2018 and 2017, respectively; 82,948,577 and 82,974,895 shares outstanding in 2018 and 2017, respectively)	879,000	877,000
Additional paid-in capital	749,418,000	748,113,000
Accumulated other comprehensive (loss) income	(65,616,000)	13,354,000
(Accumulated deficit) retained earnings	(563,891,000)	35,472,000
Treasury shares, at cost (4,989,960 and 4,755,159 shares in 2018 and 2017, respectively)	(31,515,000)	(30,642,000)
Total Maiden shareholders’ equity	554,275,000	1,232,174,000
Total liabilities and equity	5,287,460,000	6,644,189,000
Balance Sheet Related Disclosures [Abstract]
Amortized Cost	$ 3,109,980,000	$ 2,699,297,000
Common shares, par value (in dollars per share)	$ 0.01	$ 0.01
Common shares, shares issued (in shares)	87,938,537	87,730,054
Common shares, shares outstanding (in shares)	82,948,577	82,974,895	86,271,109	73,721,140
Treasury shares, shares (in shares)	4,989,960	4,755,159
Parent Company
Condensed Financial Statements, Captions [Line Items]
Fixed maturities, available-for-sale, at fair value (Amortized cost 2018 - $0; 2017 - $68,952)	$ 0	$ 68,965,000
Other investments, at fair value (Cost 2018 - $500; 2017 - $500)	500,000	500,000
Cash and cash equivalents	7,273,000	9,886,000	$ 16,677,000	$ 3,606,000
Investment in subsidiaries	883,462,000	1,401,547,000
Balances due from subsidiaries	73,000	79,376,000
Goodwill	0	5,972,000
Other assets	4,923,000	4,260,000
Total assets	896,231,000	1,570,506,000
Accrued expenses and other liabilities (includes $50,975 and $2,193 from related parties in 2018 and 2017, respectively)	4,602,000	14,810,000
Balances due to subsidiaries	230,965,000	217,176,000
Senior notes - principal amount	110,000,000	110,000,000
Less unamortized issuance costs	3,611,000	3,654,000
Senior notes, net	106,389,000	106,346,000
Total liabilities	341,956,000	338,332,000
Preference shares	465,000,000	465,000,000
Common shares ($0.01 par value; 87,938,537 and 87,730,054 shares issued in 2018 and 2017, respectively; 82,948,577 and 82,974,895 shares outstanding in 2018 and 2017, respectively)	879,000	877,000
Additional paid-in capital	749,418,000	748,113,000
Accumulated other comprehensive (loss) income	(65,616,000)	13,354,000
(Accumulated deficit) retained earnings	(563,891,000)	35,472,000
Treasury shares, at cost (4,989,960 and 4,755,159 shares in 2018 and 2017, respectively)	(31,515,000)	(30,642,000)
Total Maiden shareholders’ equity	554,275,000	1,232,174,000
Total liabilities and equity	896,231,000	1,570,506,000
Balance Sheet Related Disclosures [Abstract]
Amortized Cost	0	68,952,000
Other Investments, Cost	$ 500,000	$ 500,000
Common shares, par value (in dollars per share)	$ 0.01	$ 0.01
Common shares, shares issued (in shares)	87,938,537	87,730,054
Common shares, shares outstanding (in shares)	82,948,577	82,974,895
Treasury shares, shares (in shares)	4,989,960	4,755,159
Senior Notes
Condensed Financial Statements, Captions [Line Items]
Less unamortized issuance costs	$ 7,806,000	$ 8,018,000
Senior notes, net	254,694,000	254,482,000
Balance Sheet Related Disclosures [Abstract]
Principal amount	262,500,000	262,500,000
2013 Senior Notes \| Senior Notes
Condensed Financial Statements, Captions [Line Items]
Less unamortized issuance costs	4,196,000	4,364,000
Senior notes, net	148,304,000	$ 148,136,000
Balance Sheet Related Disclosures [Abstract]
Principal amount	$ 152,500,000
Stated interest rate	7.75%
2013 Senior Notes \| Senior Notes \| Parent Company
Balance Sheet Related Disclosures [Abstract]
Principal amount	$ 152,500,000
Stated interest rate	7.75%

Schedule II Condensed Financial Information of Parent Company - Statements of Income and Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenues
Net investment income									$ 136,285	$ 124,135	$ 108,689
Net realized (losses) gains on investment									(1,529)	12,222	6,774
Total revenues	$ 515,113	$ 555,662	$ 540,267	$ 553,765	$ 519,074	$ 496,544	$ 563,116	$ 560,084	2,164,807	2,138,818	2,051,868
Expenses
General and administrative expenses									64,940	53,004	50,254
Interest and amortization expenses									19,318	23,260	28,173
Foreign exchange losses (gains)									(4,461)	14,921	(13,412)
Total expenses									2,614,658	2,293,224	1,972,395
Net (loss) income attributable to Maiden	$ (269,235)	(308,839)	(5,913)	13,727	(133,587)	(63,596)	(22,359)	20,490	(544,624)	(169,896)	48,980
Dividends on preference shares									(25,636)	(29,156)	(33,756)
Net (loss) income attributable to Maiden common shareholders									(570,260)	(199,052)	15,224
Comprehensive loss – attributable to Maiden		$ (319,704)	$ (31,411)	$ (53,997)	$ (157,767)	$ (44,547)	$ 3,658	$ 27,117	(623,594)	(171,539)	87,744
Parent Company
Revenues
Net investment income									1,039	885	1,693
Net realized (losses) gains on investment									(1,532)	5,466	1,990
Total revenues									(493)	6,351	3,683
Expenses
General and administrative expenses									25,991	20,092	17,008
Interest and amortization expenses									7,331	7,328	3,988
Foreign exchange losses (gains)									6,324	(819)	1,371
Total expenses									39,646	26,601	22,367
Loss before equity in earnings of consolidated subsidiaries									(40,139)	(20,250)	(18,684)
Equity in (loss) earnings of consolidated subsidiaries									(504,485)	(149,646)	67,664
Net (loss) income attributable to Maiden									(544,624)	(169,896)	48,980
Dividends on preference shares									(25,636)	(29,156)	(33,756)
Net (loss) income attributable to Maiden common shareholders									(570,260)	(199,052)	15,224
Comprehensive loss – attributable to Maiden									$ (623,594)	$ (171,539)	$ 87,744

Schedule II Condensed Financial Information of Parent Company - Statements of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash flows provided by (used in) operating activities
Net (loss) income	$ (269,235)	$ (308,839)	$ (5,913)	$ 13,727	$ (133,587)	$ (63,596)	$ (22,359)	$ 20,490	$ (544,624)	$ (169,896)	$ 48,980
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Net realized losses (gains) on investment									1,529	(12,222)	(6,774)
Foreign exchange losses (gains)									(4,461)	14,921	(13,412)
Changes in assets – (increase) decrease:
Other assets									78,544	21,932	(45,721)
Changes in liabilities – increase (decrease):
Net cash provided by operating activities									182,289	458,568	470,120
Cash flows provided by (used in) investing activities
Purchases of fixed maturities – available-for-sale									(997,137)	(837,903)	(1,056,618)
Purchases of other investments									(18,383)	(986)	(172)
Proceeds from sales of fixed maturities – available-for-sale									367,346	164,957	69,007
Proceeds from maturities, paydowns and calls of fixed maturities – available-for-sale									241,962	314,540	502,266
Proceeds from sales of other investments									2,161	11,702	1,481
Net cash provided by (used in) investing activities									32,899	(359,855)	(578,064)
Cash flows (used in) provided by financing activities
Senior notes, net of issuance costs									0	0	106,285
Preference shares, net of issuance costs									0	144,942	(143)
Dividends paid – preference shares									(25,636)	(29,156)	(33,756)
Dividends paid – Maiden common shares									(41,555)	(51,634)	(43,127)
Issuance of common shares									31	1,081	1,931
Repurchase of common shares									(873)	(25,651)	(470)
Net cash used in financing activities									(68,033)	(60,418)	(76,780)
Effect of exchange rate changes on foreign currency cash									(1,556)	3,673	1,759
Cash and cash equivalents and restricted cash and cash equivalents, beginning of year				54,470				41,276	54,470	41,276
Cash and cash equivalents, end of year	200,841				54,470				200,841	54,470	41,276
Parent Company
Cash flows provided by (used in) operating activities
Net (loss) income									(544,624)	(169,896)	48,980
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Equity in loss (earnings) of consolidated subsidiaries									504,485	149,646	(67,664)
Depreciation and amortization of debt issuance cost and bond premium and discount									656	131	207
Net realized losses (gains) on investment									1,532	(5,466)	(1,990)
Foreign exchange losses (gains)									6,324	(819)	1,371
Share-based compensation expense									1,276	2,938	3,414
Changes in assets – (increase) decrease:
Balance due from subsidiaries									78,992	(5,159)	(7,222)
Other assets									(751)	305	(125)
Changes in liabilities – increase (decrease):
Accounts payable and accrued liabilities									2,244	478	(216)
Balances due to subsidiaries									13,789	22,640	84,504
Net cash provided by operating activities									63,923	(5,202)	61,259
Cash flows provided by (used in) investing activities
Purchases of fixed maturities – available-for-sale									(37,412)	(74,893)	(16,203)
Purchases of other investments									0	(500)	0
Proceeds from sales of fixed maturities – available-for-sale									80,542	22,806	44,475
Proceeds from maturities, paydowns and calls of fixed maturities – available-for-sale									24,240	15	0
Proceeds from sales of other investments									0	9,894	350
Dividends from subsidiaries									1,033	105,652	0
Contributions to subsidiaries									(66,391)	(100,751)	(107,546)
Purchase of fixed assets									(506)	(3,410)	0
Net cash provided by (used in) investing activities									1,506	(41,187)	(78,924)
Cash flows (used in) provided by financing activities
Senior notes, net of issuance costs									0	0	106,285
Preference shares, net of issuance costs									0	144,942	(143)
Dividends paid – preference shares									(25,636)	(29,156)	(33,756)
Dividends paid – Maiden common shares									(41,555)	(51,634)	(43,127)
Issuance of common shares									31	1,081	1,931
Repurchase of common shares									(873)	(25,651)	(470)
Net cash used in financing activities									(68,033)	39,582	30,720
Effect of exchange rate changes on foreign currency cash									(9)	16	16
Net increase in cash and cash equivalents and restricted cash and cash equivalents									(2,613)	(6,791)	13,071
Cash and cash equivalents and restricted cash and cash equivalents, beginning of year				$ 9,886				$ 16,677	9,886	16,677	3,606
Cash and cash equivalents, end of year	$ 7,273				$ 9,886				$ 7,273	$ 9,886	$ 16,677

Schedule III Supplementary Insurance Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
Deferred commission and other acquisition expenses	$ 388,442	$ 380,204	$ 359,597
Reserve for loss and loss adjustment expenses	3,055,976	2,386,722	1,845,407
Unearned premiums	1,200,419	1,230,882	1,199,791
Net premiums earned	2,026,202	1,992,659	1,925,588
Net investment income	136,285	124,135	108,689
Net loss and LAE	1,880,121	1,555,433	1,289,512
Amortization of deferred commission and other acquisition expenses	654,740	643,797	615,523
General and admin. expenses	64,940	53,004	50,254
Net premiums written	2,014,597	2,037,377	1,967,671
Operating Segments \| Diversified Reinsurance segment
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
Deferred commission and other acquisition expenses	18,405	20,240	20,424
Reserve for loss and loss adjustment expenses	105,589	90,697	75,451
Unearned premiums	64,506	51,598	48,158
Net premiums earned	112,487	83,015	81,967
Net investment income	0	0	0
Net loss and LAE	71,441	54,714	51,795
Amortization of deferred commission and other acquisition expenses	38,749	29,018	31,249
General and admin. expenses	17,396	15,976	15,543
Net premiums written	129,319	82,521	79,243
Operating Segments \| AmTrust Reinsurance segment
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
Deferred commission and other acquisition expenses	370,037	359,964	339,173
Reserve for loss and loss adjustment expenses	2,947,547	2,290,981	1,757,728
Unearned premiums	1,135,913	1,179,284	1,151,633
Net premiums earned	1,913,715	1,909,644	1,843,621
Net investment income	0	0	0
Net loss and LAE	1,806,995	1,498,881	1,225,830
Amortization of deferred commission and other acquisition expenses	615,991	614,777	584,820
General and admin. expenses	3,845	3,052	2,896
Net premiums written	1,885,278	1,954,856	1,888,428
Operating Segments \| Total reportable segments
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
Deferred commission and other acquisition expenses	388,442	380,204	359,597
Reserve for loss and loss adjustment expenses	3,053,136	2,381,678	1,833,179
Unearned premiums	1,200,419	1,230,882	1,199,791
Net premiums earned	2,026,202	1,992,659	1,925,588
Net investment income	0	0	0
Net loss and LAE	1,878,436	1,553,595	1,277,625
Amortization of deferred commission and other acquisition expenses	654,740	643,795	616,069
General and admin. expenses	21,241	19,028	18,439
Net premiums written	2,014,597	2,037,377	1,967,671
Other
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
Deferred commission and other acquisition expenses	0	0	0
Reserve for loss and loss adjustment expenses	2,840	5,044	12,228
Unearned premiums	0	0	0
Net premiums earned	0	0	0
Net investment income	136,285	124,135	108,689
Net loss and LAE	1,685	1,838	11,887
Amortization of deferred commission and other acquisition expenses	0	2	(546)
General and admin. expenses	43,699	33,976	31,815
Net premiums written	$ 0	$ 0	$ 0

Schedule IV Supplementary Reinsurance Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Abstract]
Gross	$ 11,024	$ 5,765	$ 8,045
Ceded to other companies	3,201	40,714	121,358
Assumed from other companies	2,006,774	2,072,326	2,080,984
Premiums written, Net	$ 2,014,597	$ 2,037,377	$ 1,967,671
Percentage of amount to net	99.60%	101.70%	105.80%

Schedule VI Supplementary Reinsurance Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Abstract]
Net loss and LAE, Current Year	$ 1,431,484	$ 1,271,860	$ 1,158,435
Net incurred losses related to Prior years	448,637	283,573	131,077
Paid loss and LAE	$ 1,163,766	$ 1,058,491	$ 958,530

Label	Element	Value
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Disposal Group, Including Discontinued Operations	us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsDisposalGroupIncludingDiscontinuedOperations	$ 6,113,000
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Disposal Group, Including Discontinued Operations	us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsDisposalGroupIncludingDiscontinuedOperations	42,128,000
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Disposal Group, Including Discontinued Operations	us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsDisposalGroupIncludingDiscontinuedOperations	$ 39,133,000