Cover Page - shares shares in Thousands	6 Months Ended
Cover Page - shares shares in Thousands	Jun. 30, 2019	Jul. 31, 2019
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2019
Document Transition Report	false
Entity File Number	001-34042
Entity Registrant Name	MAIDEN HOLDINGS, LTD.
Entity Central Index Key	0001412100
Current Fiscal Year End Data	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Incorporation, State or Country Code	D0
Entity Tax Identification Number	98-0570192
Entity Address, Address Line One	94 Pitts Bay Road
Entity Address, City or Town	Pembroke
Entity Address, Country	BM
Entity Address, Postal Zip Code	HM08
City Area Code	441
Local Phone Number	298-4900
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		83,066,135
Common Shares, par value $0.01 per share
Entity Information [Line Items]
Title of 12(b) Security	Common Shares, par value $0.01 per share
Trading Symbol	MHLD
Security Exchange Name	NASDAQ
Series A Preference Shares, par value $0.01 per share
Entity Information [Line Items]
Title of 12(b) Security	Series A Preference Shares, par value $0.01 per share
Trading Symbol	MH.PA
Security Exchange Name	NYSE
Series C Preference Shares, par value $0.01 per share
Entity Information [Line Items]
Title of 12(b) Security	Series C Preference Shares, par value $0.01 per share
Trading Symbol	MH.PC
Security Exchange Name	NYSE
Series D Preference Shares, par value $0.01 per share
Entity Information [Line Items]
Title of 12(b) Security	Series D Preference Shares, par value $0.01 per share
Trading Symbol	MH.PD
Security Exchange Name	NYSE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
ASSETS
Fixed maturities, available-for-sale, at fair value (amortized cost 2019 - $2,942,207; 2018 - $3,109,980)	$ 2,971,598	$ 3,051,568
Fixed maturities, held-to-maturity, at amortized cost (fair value 2018 - $998,012)	0	1,015,681
Other investments, at fair value	28,431	23,716
Total investments	3,000,029	4,090,965
Cash and cash equivalents	82,465	200,841
Restricted cash and cash equivalents	381,698	130,148
Accrued investment income	22,279	27,824
Reinsurance balances receivable, net (includes $46,936 and $38,278 from related parties in 2019 and 2018, respectively)	67,625	67,308
Loan to related party	167,975	167,975
Deferred commission and other acquisition expenses (includes $101,326 and $370,037 from related parties in 2019 and 2018, respectively)	113,630	388,442
Funds withheld receivable (includes $633,123 from related parties in 2019)	681,272	27,039
Other assets	15,574	12,443
Assets held for sale	66,009	174,475
Total assets	4,598,556	5,287,460
LIABILITIES
Reserve for loss and loss adjustment expenses (includes $2,944,613 and $2,950,388 from related parties in 2019 and 2018, respectively)	3,051,265	3,055,976
Unearned premiums (includes $280,170 and $1,135,913 from related parties in 2019 and 2018, respectively)	322,166	1,200,419
Liability for investments purchased	298,939	0
Accrued expenses and other liabilities	14,805	65,494
Senior notes - principal amount	262,500	262,500
Less: unamortized debt issuance costs	7,700	7,806
Senior notes, net	254,800	254,694
Liabilities held for sale	66,009	155,961
Total liabilities	4,007,984	4,732,544
Commitments and Contingencies
EQUITY
Preference shares	465,000	465,000
Common shares ($0.01 par value; 88,079,315 and 87,938,537 shares issued in 2019 and 2018, respectively; 83,066,135 and 82,948,577 shares outstanding in 2019 and 2018, respectively)	881	879
Additional paid-in capital	751,007	749,418
Accumulated other comprehensive income (loss)	21,152	(65,616)
Accumulated deficit	(615,940)	(563,891)
Treasury shares, at cost (5,013,180 and 4,989,960 shares in 2019 and 2018, respectively)	(31,528)	(31,515)
Total Maiden shareholders’ equity	590,572	554,275
Noncontrolling interests in subsidiaries	0	641
Total equity	590,572	554,916
Total liabilities and equity	$ 4,598,556	$ 5,287,460

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Fixed maturities, available-for-sale, amortized cost	$ 2,942,207	$ 3,109,980
Fixed maturities, held-to-maturity, fair value		998,012
Reinsurance balances receivable, net	67,625	67,308
Deferred commission and other acquisition expenses	113,630	388,442
Funds withheld receivable	681,272	27,039
Loss and loss adjustment expenses	3,051,265	3,055,976
Unearned premiums	$ 322,166	$ 1,200,419
Common shares, par value (in dollars per share)	$ 0.01	$ 0.01
Common shares, shares issued (in shares)	88,079,315	87,938,537
Common shares, shares outstanding (in shares)	83,066,135	82,948,577
Treasury shares (in shares)	5,013,180	4,989,960
Related party transactions
Reinsurance balances receivable, net	$ 46,936	$ 38,278
Deferred commission and other acquisition expenses	101,326	370,037
Funds withheld receivable	633,123
Loss and loss adjustment expenses	2,944,613	2,950,388
Unearned premiums	$ 280,170	$ 1,135,913

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenues
Gross premiums written	$ 2,117	$ 521,526	$ (559,022)	$ 1,144,854
Net premiums written	(409)	521,028	(561,939)	1,143,679
Change in unearned premiums	134,395	(16,640)	879,027	(122,478)
Net premiums earned	133,986	504,388	317,088	1,021,201
Other insurance revenue	754	2,033	1,504	5,759
Net investment income	31,122	34,260	63,144	67,129
Net realized gains (losses) on investment	24,086	(414)	12,985	(57)
Total revenues	189,948	540,267	394,721	1,094,032
Expenses
Net loss and loss adjustment expenses	121,561	370,001	274,250	723,207
Commission and other acquisition expenses	49,656	162,780	119,273	329,408
General and administrative expenses	12,849	14,860	28,788	30,531
Interest and amortization expenses	4,830	4,829	9,659	9,658
Foreign exchange and other gains	(1,207)	(4,821)	(6,186)	(2,414)
Total expenses	187,689	547,649	425,784	1,090,390
Income (loss) from continuing operations before income taxes	2,259	(7,382)	(31,063)	3,642
Less: income tax benefit	(1,026)	(1,847)	(1,064)	(3,171)
Net income (loss) from continuing operations	3,285	(5,535)	(29,999)	6,813
(Loss) income from discontinued operations, net of income tax	(18,698)	8,215	(22,050)	18,210
Net (loss) income	(15,413)	2,680	(52,049)	25,023
Net income from continuing operations attributable to noncontrolling interests	0	(47)	0	(118)
Net (loss) income attributable to Maiden	(15,413)	2,633	(52,049)	24,905
Dividends on preference shares	0	(8,546)	0	(17,091)
Net (loss) income attributable to Maiden common shareholders	$ (15,413)	$ (5,913)	$ (52,049)	$ 7,814
Basic and diluted earnings (loss) from continuing operations per share attributable to Maiden common shareholders (in dollars per share)	$ 0.04	$ (0.17)	$ (0.36)	$ (0.13)
Basic and diluted (loss) earnings from discontinued operations per share attributable to Maiden common shareholders (in dollars per share)	(0.23)	0.10	(0.27)	0.22
Basic and diluted (loss) earnings per share attributable to Maiden common shareholders (in dollars per share)	$ (0.19)	$ (0.07)	$ (0.63)	$ 0.09
Weighted average number of common shares - basic (in shares)	83,058,123	83,126,204	83,008,888	83,083,545
Adjusted weighted average number of common shares and assumed conversions - diluted (in shares)	83,075,156	83,126,204	83,008,888	83,083,545

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Comprehensive income:
Net (loss) income	$ (15,413)	$ 2,680	$ (52,049)	$ 25,023
Other comprehensive income (loss)
Net unrealized holdings gains (losses) on available-for-sale fixed maturities arising during period	43,018	(50,425)	92,048	(117,268)
Adjustment for reclassification of net realized (gains) losses recognized in net (loss) income	(15,415)	745	(2,927)	(745)
Foreign currency translation adjustment	(6,192)	15,605	(2,194)	7,665
Other comprehensive income (loss), before tax	21,411	(34,075)	86,927	(110,348)
Income tax (expense) benefit related to components of other comprehensive income (loss)	(39)	2	(81)	17
Other comprehensive income (loss), after tax	21,372	(34,073)	86,846	(110,331)
Comprehensive income (loss)	5,959	(31,393)	34,797	(85,308)
Net income attributable to noncontrolling interests	0	(47)	0	(118)
Other comprehensive loss (income) attributable to noncontrolling interests	0	29	(78)	18
Comprehensive income attributable to noncontrolling interests	0	(18)	(78)	(100)
Comprehensive income (loss) attributable to Maiden	$ 5,959	$ (31,411)	$ 34,719	$ (85,408)

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands	Total	Preference shares	Common shares	Additional paid-in capital	Accumulated other comprehensive loss	(Accumulated deficit) retained earnings	Treasury shares	Noncontrolling interests in subsidiaries
Beginning balance at Dec. 31, 2017		$ 465,000	$ 877	$ 748,113	$ 13,354	$ 35,472	$ (30,642)	$ 452
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation expense				1,208
Exercise of options and issuance of shares			2	(2)
Change in net unrealized gains (losses) on investment					(117,996)
Foreign currency translation adjustment					7,683			(18)
Net (loss) income attributable to Maiden	$ 24,905					24,905
Dividends on preference shares						(17,091)
Dividends on common shares						(24,948)
Shares repurchased							(193)
Disposal of subsidiaries								0
Net income attributable to noncontrolling interests								118
Ending balance at Jun. 30, 2018	1,106,294	465,000	879	749,319	(96,959)	18,338	(30,835)	552
Beginning balance at Mar. 31, 2018		465,000	879	749,054	(62,915)	36,727	(30,835)	534
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation expense				265
Exercise of options and issuance of shares			0
Change in net unrealized gains (losses) on investment					(49,678)
Foreign currency translation adjustment					15,634			(29)
Net (loss) income attributable to Maiden	2,633					2,633
Dividends on preference shares						(8,546)
Dividends on common shares						(12,476)
Shares repurchased							0
Disposal of subsidiaries								0
Net income attributable to noncontrolling interests								47
Ending balance at Jun. 30, 2018	1,106,294	465,000	879	749,319	(96,959)	18,338	(30,835)	552
Beginning balance at Dec. 31, 2018	554,916	465,000	879	749,418	(65,616)	(563,891)	(31,515)	641
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation expense				1,591
Exercise of options and issuance of shares			2	(2)
Change in net unrealized gains (losses) on investment					89,040
Foreign currency translation adjustment					(2,272)			78
Net (loss) income attributable to Maiden	(52,049)					(52,049)
Dividends on preference shares						0
Shares repurchased							(13)
Disposal of subsidiaries								(719)
Net income attributable to noncontrolling interests								0
Ending balance at Jun. 30, 2019	590,572	465,000	881	751,007	21,152	(615,940)	(31,528)	0
Beginning balance at Mar. 31, 2019		465,000	881	750,670	(220)	(600,527)	(31,515)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation expense				337
Change in net unrealized gains (losses) on investment					27,564
Foreign currency translation adjustment					(6,192)
Net (loss) income attributable to Maiden	(15,413)					(15,413)
Dividends on preference shares						0
Shares repurchased							(13)
Disposal of subsidiaries								0
Net income attributable to noncontrolling interests								0
Ending balance at Jun. 30, 2019	$ 590,572	$ 465,000	$ 881	$ 751,007	$ 21,152	$ (615,940)	$ (31,528)	$ 0

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Cash flows from operating activities
Net (loss) income	$ (52,049)	$ 25,023
Less: net loss (income) from discontinued operations	22,050	(18,210)
Adjustments to reconcile net (loss) income to net cash flows from operating activities:
Depreciation, amortization and share-based compensation	4,388	3,183
Net realized (gains) losses on investment	(12,985)	57
Foreign exchange and other gains	(6,186)	(2,414)
Changes in assets – (increase) decrease:
Reinsurance balances receivable, net	(1,191)	(103,065)
Accrued investment income	5,526	270
Deferred commission and other acquisition expenses	136,686	(34,106)
Funds withheld receivable	(81,649)	3,399
Other assets	(8,032)	(2,770)
Changes in liabilities – increase (decrease):
Reserve for loss and loss adjustment expenses	(833)	167,602
Unearned premiums	(459,179)	108,662
Accrued expenses and other liabilities	(48,371)	(12,929)
Net cash (used in) provided by continuing operations	(501,825)	134,702
Net cash used in discontinued operations	(1,832)	(78,598)
Net cash (used in) provided by operating activities	(503,657)	56,104
Cash flows from investing activities:
Purchases of fixed-maturities – available-for-sale	(395,640)	(441,953)
Purchases of other investments	(5,290)	0
Proceeds from sales of fixed-maturities – available-for-sale	709,615	116,555
Proceeds from maturities, paydowns and calls of fixed maturities	324,480	250,833
Proceeds from sale and redemption of other investments	580	1,022
Other, net	3,276	(2,041)
Net cash provided by (used in) investing activities for continuing operations	637,021	(75,584)
Net cash (used in) provided by investing activities for discontinued operations	(6,113)	97,784
Net cash provided by investing activities	630,908	22,200
Cash flows from financing activities:
Repurchase of common shares	(13)	(193)
Dividends paid – Maiden common shareholders	0	(24,924)
Dividends paid – preference shares	0	(17,091)
Net cash used in financing activities	(13)	(42,208)
Effect of exchange rate changes on foreign currency cash, restricted cash and equivalents	(177)	(820)
Net increase in cash, restricted cash and cash equivalents	127,061	35,276
Cash, restricted cash and cash equivalents, beginning of period	337,102	191,503
Cash, restricted cash and cash equivalents, end of period	464,163	226,779
Less: cash, restricted cash and equivalents of discontinued operations, end of period	0	(44,158)
Cash, restricted cash and cash equivalents of continuing operations, end of period	464,163	182,621
Reconciliation of cash & restricted cash reported within Condensed Consolidated Balance Sheets:
Cash and cash equivalents, end of period	82,465	52,362
Restricted cash and cash equivalents	381,698	130,259
AmTrust Quota Shares Reinsurance Agreement, Partial Termination Amendment
Non-cash investing activities
Investments transferred out	280,670	0
Funds Withheld Arrangement
Non-cash investing activities
Investments transferred out	571,396	0
Discontinued Operations
Non-cash investing activities
Investments transferred out	$ 65,400	$ 0

Basis of Presentation	6 Months Ended
Basis of Presentation	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited Condensed Consolidated Financial Statements include the accounts of Maiden Holdings, Ltd. ("Maiden Holdings") and its subsidiaries (the "Company" or "Maiden"). They have been prepared in accordance with accounting principles generally accepted in the United States ("U.S. GAAP") for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X as promulgated by the U.S. Securities and Exchange Commission ("SEC"). Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. All significant intercompany transactions and accounts have been eliminated. These interim unaudited Condensed Consolidated Financial Statements reflect all adjustments that are, in the opinion of management, necessary for a fair presentation of the results for the interim period and all such adjustments are of a normal recurring nature. The results of operations for the interim period are not necessarily indicative, if annualized, of those to be expected for the full year. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. These unaudited Condensed Consolidated Financial Statements, including these notes, should be read in conjunction with the Company's audited Consolidated Financial Statements, and related notes thereto, included in the Company's Annual Report on Form 10-K for the year ended December 31, 2018. Results of operations for prior year comparatives have been reclassified for 2018 to conform to the 2019 presentation due to discontinued operations as discussed below. The effect of these reclassifications had no impact on previously reported shareholders' equity or net income. Strategic Review Maiden Holdings's Board of Directors initiated a review of strategic alternatives ("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. In addition, as of December 31, 2018, the Company and its subsidiary Maiden Reinsurance Ltd. ("Maiden Bermuda") failed to meet their requirements to hold sufficient capital to cover their respective enhanced capital requirements (“ECR”). The Company had communicated such conditions to the Bermuda Monetary Authority ("BMA") and is following the guidelines of a reportable “event” as stipulated by Bermuda insurance law. As part of both the Strategic Review and the remediation measures implemented to cure the breach of the ECR, a series of transactions were entered into, 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 on January 18, 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 which amended the quota share reinsurance agreement (“AmTrust Quota Share”) between Maiden Bermuda and AmTrust’s wholly owned subsidiary AmTrust International Insurance, Ltd. (“AII”) (as more fully described in Note 8); (4) entered into amendments which terminated the AmTrust Quota Share and the European hospital liability quota share reinsurance contract (“European Hospital Liability Quota Share”) with AmTrust’s wholly owned subsidiaries AmTrust Europe Limited ("AEL") and AmTrust International Underwriters DAC ("AIU DAC") effective January 1, 2019; (5) entered into the loss portfolio and adverse development cover agreement with Enstar Group Limited ("Enstar") pursuant to the revised Master Transaction Agreement entered into on March 1, 2019 ("LPT/ADC MTA"); and (6) entered into a Commutation and Release Agreement with AmTrust to commute certain workers' compensation business with AII as of January 1, 2019. As a result of the completion of these steps on July 31, 2019, both the Company and Maiden Bermuda have sufficient capital in excess of the respective ECR requirements. The relevant solvency ratios are expected to continue to improve throughout the remainder of 2019. Please refer to "Note 13. Subsequent Events" for additional details regarding the loss portfolio transfer and adverse development cover agreement ("LPT/ADC Agreement") with Enstar and the Commutation and Release Agreement with AmTrust. Discontinued Operations As part of the Strategic Review initiated by the Company's Board of Directors during 2018, the Company made the strategic decision to divest its U.S. treaty reinsurance operations which was completed on December 27, 2018. 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 entered into a Renewal Rights Agreement ("Renewal Rights") with Transatlantic Reinsurance Company ("TransRe"), pursuant to which the Company sold, and TransRe purchased, 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 Company continues 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, until those policies expire. 1. Basis of Presentation (continued) 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, however no additional amounts to the fee have been recognized to date. (b) On December 27, 2018, the Company completed its sale agreement ("U.S. Sale Agreement") with Enstar Holdings (US) LLC ("Enstar Holdings"), pursuant to which Maiden NA sold Maiden US to Enstar Holdings. Pursuant to and subject to the terms of the U.S. Sale Agreement: Maiden NA sold, and Enstar Holdings purchased, all of the outstanding shares of common stock of Maiden US (“Maiden US Sale”) for gross consideration of $286,375; (ii) Cavello Bay Reinsurance Limited ("Cavello"), Enstar’s 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 paid by Maiden Bermuda of $12,250; (iii) Cavello and Maiden Bermuda also entered into a retrocession agreement pursuant to which certain assets and liabilities associated with the 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. Please refer to "Note 13. Subsequent Events" for further details regarding the subsequent Settlement and Commutation Agreement and related ancillary agreements entered into by Maiden and Enstar affecting the terms of the U.S. Sale Agreement discussed above. The Company determined that the sale of the U.S. treaty reinsurance operations represented a strategic shift that has 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 have been reported and presented as part of discontinued operations. Please refer to "Note 6. Discontinued Operations" for additional information regarding the effect of the reclassifications on the Company's Condensed 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 revised the composition of its reportable segments. As described in more detail 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. The prior periods presented herein have been reclassified to conform to this new presentation.

Significant Accounting Policies	6 Months Ended
Significant Accounting Policies	Jun. 30, 2019
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies There have been no material changes to the significant accounting policies as described in the Company's Annual Report on Form 10-K for the year ended December 31, 2018 except for the following: Recently Adopted Accounting Standards Updates Improvements to Non-employee Share-Based Payment Accounting In June 2018, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("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. The Company currently measures directors’ share-based payment awards at fair value as at their grant date; therefore the adoption of this standard on January 1, 2019 did not have any impact on the Company’s Condensed Consolidated Financial Statements. Codification Improvements In July 2018, the FASB issued ASU 2018-09 which includes clarifications to existing codifications or corrections of unintended application of guidance that is not expected to have a significant effect on current accounting practice or create a significant administrative cost to most entities. The amendments in this update include items raised for board consideration through the codification's feedback system that met the scope of this project, making due process necessary. The amendments affect a wide variety of topics in the codification. The amendments apply to all reporting entities within the scope of the affected accounting guidance. None of the topics deemed applicable upon adoption of this standard on January 1, 2019 have a material impact in the Company's interim consolidated financial statements. 2. Significant Accounting Policies (continued) Topic 842, Leases In July 2018, the FASB issued ASU 2018-11 for targeted improvements related to ASU 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 Accounting Standards Codification ("ASC") 842 at the adoption date and recognizes a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. Topic 842 became effective for the Company during the first quarter of 2019 and was applied using a modified retrospective approach by electing the additional transition method permitted by ASU 2018-11. Under the additional transition method, the Company's reporting for the comparative periods presented in its financial statements will be in accordance with the pre-effective date lease accounting requirements under Topic 840. The Company adopted Topic 842 effective on January 1, 2019, by electing as a package the practical expedients permitted under the transition guidance of Topic 842, and applied consistently to all leases that had commenced before the effective date of adoption. The package of practical expedients allowed the Company not to reassess the following: whether any expired or existing contracts are or contain leases; the lease classification for any expired or existing leases; and initial direct costs for any existing leases. In addition to electing the package of practical expedients, the Company made an accounting policy election to account for non-lease components separately from lease components. Furthermore, the Company made an accounting policy election not to record leases with an initial term of twelve months or less in the Company's Condensed Consolidated Balance Sheets. The adoption of this standard on January 1, 2019 has impacted the Company’s Condensed Consolidated Balance Sheets but did not have any impact on its results of operations or cash flows. Please refer to "Note 10. Commitments and Contingencies a) Operating Lease Commitments" for further disclosures regarding the impact of the adoption of Topic 842 in 2019. 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 U.S. 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 Condensed 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 has always handled the amortization of any premiums by amortizing to the earliest effective maturity; therefore, the adoption of this guidance on January 1, 2019 did not have any impact on its Condensed Consolidated Financial Statements. Recently Issued Accounting Standards Not Yet Adopted Accounting for Measurement of Credit Losses on Financial Instruments In April 2019, the FASB issued ASU 2019-04 for targeted improvements related to ASU 2016-13 "Financial Instruments - Credit Losses (Topic 326) - Measurement of Credit Losses on Financial Instruments" which replaces the "incurred loss" impairment methodology with an approach based on "expected losses" to estimate credit losses on certain types of financial instruments and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The guidance requires financial assets measured at amortized cost to be presented at the net amount expected to be collected. 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. The Update also modified the accounting for available-for-sale ("AFS") debt securities, which must be individually assessed for credit losses when fair value is less than the amortized cost basis, in accordance with Subtopic 326-30, Financial Instruments—Credit Losses—Available-for-Sale Debt Securities. Credit losses relating to AFS debt securities will be recorded through an allowance for credit losses. The codification improvements in ASU 2019-04 clarify that an entity should include recoveries when estimating the allowance for credit losses. The amendments specify that expected recoveries of amounts previously written off and expected to be written off should be included in the valuation account and should not exceed the aggregate of amounts previously written off and expected to be written off by the entity. In addition, for collateral dependent financial assets, the amendments clarify that an allowance for credit losses that is added to the amortized cost basis of the financial asset(s) should not exceed amounts previously written off. The amendment also clarifies FASB’s intent to include all reinsurance recoverables that are within the scope of Topic 944 to be within the scope of Subtopic 326-20, regardless of the measurement basis of those recoverables.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.

Segment Information

6 Months Ended

Jun. 30, 2019

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 our wholly owned subsidiary, 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 8. 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. Basis of Presentation" and "Note 6. Discontinued Operations", the Company 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, funds withheld receivable, loans and restricted cash and cash equivalents and investments. All remaining assets are allocated to Corporate.

As discussed in "Note 1. Basis of Presentation" and "Note 8. Related Party Transactions", the Partial Termination Amendment and the termination of the remaining business with AmTrust effective January 1, 2019 resulted in a significant reduction in gross premiums written. This was due to the return of unearned premium on certain lines covered by the Partial Termination Agreement, with no new business written in 2019 due to the termination of the remaining business within the AmTrust Quota Share and the European Hospital Liability Quota Share. 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 Three Months Ended June 30, 2019	Diversified Reinsurance			AmTrust Reinsurance			Other		Total
Gross premiums written	$	11,244		$	(9,127	)	$	—	$	2,117
Net premiums written	$	8,718		$	(9,127	)	$	—	$	(409	)
Net premiums earned	$	22,472		$	111,514		$	—	$	133,986
Other insurance revenue	754			—			—		754
Net loss and loss adjustment expenses ("loss and LAE")	(12,497		)	(109,088		)	24		(121,561		)
Commission and other acquisition expenses	(8,147		)	(41,509		)	—		(49,656		)
General and administrative expenses	(2,092		)	(562		)	—		(2,654		)
Underwriting income (loss)	$	490		$	(39,645	)	$	24	(39,131		)
Reconciliation to net income from continuing operations
Net investment income and realized gains on investment									55,208
Interest and amortization expenses									(4,830		)
Foreign exchange and other gains									1,207
Other general and administrative expenses									(10,195		)
Income tax benefit									1,026
Net income from continuing operations									$	3,285

Net loss and LAE ratio⁽¹⁾	53.8		%	97.8		%			90.2		%
Commission and other acquisition expense ratio⁽²⁾	35.1		%	37.2		%			36.9		%
General and administrative expense ratio⁽³⁾	9.0		%	0.5		%			9.5		%
Expense ratio⁽⁴⁾	44.1		%	37.7		%			46.4		%
Combined ratio⁽⁵⁾	97.9		%	135.5		%			136.6		%

3. Segment Information (continued)



For the Three Months Ended June 30, 2018	Diversified Reinsurance			AmTrust Reinsurance			Other		Total
Gross premiums written	$	30,041		$	491,485		$	—	$	521,526
Net premiums written	$	29,717		$	491,311		$	—	$	521,028
Net premiums earned	$	28,539		$	475,849		$	—	$	504,388
Other insurance revenue	2,033			—			—		2,033
Net loss and LAE	(16,165		)	(353,836		)	—		(370,001		)
Commission and other acquisition expenses	(9,988		)	(152,792		)	—		(162,780		)
General and administrative expenses	(4,593		)	(1,082		)	—		(5,675		)
Underwriting loss	$	(174	)	$	(31,861	)	$	—	(32,035		)
Reconciliation to net loss from continuing operations
Net investment income and realized losses on investment									33,846
Interest and amortization expenses									(4,829		)
Foreign exchange gains									4,821
Other general and administrative expenses									(9,185		)
Income tax benefit									1,847
Net loss from continuing operations									$	(5,535	)

Net loss and LAE ratio⁽¹⁾	52.9		%	74.4		%			73.1		%
Commission and other acquisition expense ratio⁽²⁾	32.7		%	32.1		%			32.1		%
General and administrative expense ratio⁽³⁾	15.0		%	0.2		%			2.9		%
Expense ratio⁽⁴⁾	47.7		%	32.3		%			35.0		%
Combined ratio⁽⁵⁾	100.6		%	106.7		%			108.1		%

3. Segment Information (continued)



For the Six Months Ended June 30, 2019	Diversified Reinsurance			AmTrust Reinsurance			Other			Total
Gross premiums written	$	26,582		$	(585,604	)	$	—		$	(559,022	)
Net premiums written	$	23,665		$	(585,604	)	$	—		$	(561,939	)
Net premiums earned	$	47,764		$	269,324		$	—		$	317,088
Other insurance revenue	1,504			—			—			1,504
Net loss and LAE	(26,888		)	(247,158		)	(204		)	(274,250		)
Commission and other acquisition expenses	(17,408		)	(101,865		)	—			(119,273		)
General and administrative expenses	(5,123		)	(1,828		)	—			(6,951		)
Underwriting loss	$	(151	)	$	(81,527	)	$	(204	)	(81,882		)
Reconciliation to net loss from continuing operations
Net investment income and realized gains on investment										76,129
Interest and amortization expenses										(9,659		)
Foreign exchange and other gains										6,186
Other general and administrative expenses										(21,837		)
Income tax benefit										1,064
Net loss from continuing operations										$	(29,999	)

Net loss and LAE ratio⁽¹⁾	54.6		%	91.8		%				86.1		%
Commission and other acquisition expense ratio⁽²⁾	35.3		%	37.8		%				37.5		%
General and administrative expense ratio⁽³⁾	10.4		%	0.7		%				9.0		%
Expense ratio⁽⁴⁾	45.7		%	38.5		%				46.5		%
Combined ratio⁽⁵⁾	100.3		%	130.3		%				132.6		%

3. Segment Information (continued)



For the Six Months Ended June 30, 2018	Diversified Reinsurance			AmTrust Reinsurance			Other		Total
Gross premiums written	$	79,441		$	1,065,413		$	—	$	1,144,854
Net premiums written	$	77,988		$	1,065,691		$	—	$	1,143,679
Net premiums earned	$	54,054		$	967,147		$	—	$	1,021,201
Other insurance revenue	5,759			—			—		5,759
Net loss and LAE	(32,064		)	(691,143		)	—		(723,207		)
Commission and other acquisition expenses	(19,300		)	(310,108		)	—		(329,408		)
General and administrative expenses	(9,074		)	(2,002		)	—		(11,076		)
Underwriting loss	$	(625	)	$	(36,106	)	$	—	(36,731		)
Reconciliation to net income from continuing operations
Net investment income and realized losses on investment									67,072
Interest and amortization expenses									(9,658		)
Foreign exchange gains									2,414
Other general and administrative expenses									(19,455		)
Income tax benefit									3,171
Net income from continuing operations									$	6,813

Net loss and LAE ratio⁽¹⁾	53.6		%	71.4		%			70.4		%
Commission and other acquisition expense ratio⁽²⁾	32.2		%	32.1		%			32.1		%
General and administrative expense ratio⁽³⁾	15.2		%	0.2		%			3.0		%
Expense ratio⁽⁴⁾	47.4		%	32.3		%			35.1		%
Combined ratio⁽⁵⁾	101.0		%	103.7		%			105.5		%


(1)	Calculated by dividing 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 net loss and LAE ratio and the expense ratio.

The following tables summarize the financial position of our reportable segments including the reconciliation to our consolidated assets at June 30, 2019 and December 31, 2018:



June 30, 2019	Diversified Reinsurance		AmTrust Reinsurance		Total
Total assets - reportable segments	$	180,370	$	3,720,416	$	3,900,786
Corporate assets	—		—		631,761
Assets held for sale	—		—		66,009
Total Assets	$	180,370	$	3,720,416	$	4,598,556

December 31, 2018	Diversified Reinsurance		AmTrust Reinsurance		Total
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

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 three and six months ended June 30, 2019 and 2018:



For the Three Months Ended June 30,	2019			2018
Net premiums written	Total			Total
Diversified Reinsurance
International	$	8,718		$	29,717
Total Diversified Reinsurance	8,718			29,717
AmTrust Reinsurance
Small Commercial Business	5,515			279,486
Specialty Program	(16,031		)	103,196
Specialty Risk and Extended Warranty	1,389			108,629
Total AmTrust Reinsurance	(9,127		)	491,311
Total Net Premiums Written	$	(409	)	$	521,028



For the Six Months Ended June 30,	2019			2018
Net premiums written	Total			Total
Diversified Reinsurance
International	$	23,665		$	77,947
Other	—			41
Total Diversified Reinsurance	23,665			77,988
AmTrust Reinsurance
Small Commercial Business	(337,166		)	647,240
Specialty Program	(28,639		)	192,327
Specialty Risk and Extended Warranty	(219,799		)	226,124
Total AmTrust Reinsurance	(585,604		)	1,065,691
Total Net Premiums Written	$	(561,939	)	$	1,143,679

The following tables set forth financial information relating to net premiums earned by major line of business and reportable segment for the three and six months ended June 30, 2019 and 2018:



For the Three Months Ended June 30,	2019		2018
Net premiums earned	Total		Total
Diversified Reinsurance
International	$	22,472	$	28,539
Other	—		—
Total Diversified Reinsurance	22,472		28,539
AmTrust Reinsurance
Small Commercial Business	23,283		293,514
Specialty Program	30,326		96,739
Specialty Risk and Extended Warranty	57,905		85,596
Total AmTrust Reinsurance	111,514		475,849
Total Net Premiums Earned	$	133,986	$	504,388

3. Segment Information (continued)



For the Six Months Ended June 30,	2019		2018
Net premiums earned	Total		Total
Diversified Reinsurance
International	$	47,764	$	54,013
Other	—		41
Total Diversified Reinsurance	47,764		54,054
AmTrust Reinsurance
Small Commercial Business	62,738		609,223
Specialty Program	106,547		185,233
Specialty Risk and Extended Warranty	100,039		172,691
Total AmTrust Reinsurance	269,324		967,147
Total Net Premiums Earned	$	317,088	$	1,021,201

Investments

6 Months Ended

Jun. 30, 2019

Schedule of Investments [Abstract]

Investments


a)	Fixed Maturities

The original or amortized cost, estimated fair value and gross unrealized gains and losses of fixed maturities at June 30, 2019 and December 31, 2018 are as follows:



June 30, 2019	Original or amortized cost		Gross unrealized gains		Gross unrealized losses			Fair value
AFS fixed maturities:
U.S. treasury bonds	$	365,953	$	1,153	$	(3	)	$	367,103
U.S. agency bonds – mortgage-backed	950,301		9,299		(3,203		)	956,397
U.S. agency bonds – other	51,875		4		(1		)	51,878
Non-U.S. government and supranational bonds	29,321		313		(298		)	29,336
Asset-backed securities	220,938		681		(553		)	221,066
Corporate bonds	1,310,870		37,115		(15,258		)	1,332,727
Municipal bonds	12,949		142		—			13,091
Total fixed maturity investments	$	2,942,207	$	48,707	$	(19,316	)	$	2,971,598



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

4. Investments (continued)

The Company has historically classified its fixed maturity investments as either AFS or held-to-maturity ("HTM"). The AFS portfolio is reported at fair value. The HTM portfolio at December 31, 2018 included securities for which we had the ability and intent to hold to maturity or redemption and was reported at amortized cost. When a security transferred from AFS to HTM, the fair value at the time of transfer, adjusted for subsequent amortization, becomes the security's amortized cost. When a security transferred from HTM to AFS, the security’s amortized cost basis carries over to the AFS category for the subsequent amortization of the historical premium or discount, comparisons of fair value and amortized cost for the purpose of determining unrealized holding gains and losses and required disclosures of amortized cost. The difference between the security’s amortized cost and fair value at the date of transfer into the AFS portfolio will be recognized as an unrealized gain or loss and recorded in accumulated other comprehensive income ("AOCI").

Due to the termination of both AmTrust Reinsurance quota share contracts effective January 1, 2019, the Company no longer believes that it has the positive ability to hold the securities in the HTM portfolio to maturity since this portfolio serves as part of the collateral for the AmTrust Reinsurance segment loss reserves. Therefore, the Company has reclassified and transferred all HTM securities to the AFS portfolio at their fair market value as at March 31, 2019. The carrying value of the HTM securities at the time of transfer was $1,011,878 and the related unrealized gains of $14,230 have been reported in the fair value of the AFS securities as well as reported as a component of AOCI as at March 31, 2019.

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.



June 30, 2019	Amortized cost		Fair value
Maturity
Due in one year or less	$	403,428	$	402,136
Due after one year through five years	791,633		798,539
Due after five years through ten years	575,907		593,460
	1,770,968		1,794,135
U.S. agency bonds – mortgage-backed	950,301		956,397
Asset-backed securities	220,938		221,066
Total fixed maturities	$	2,942,207	$	2,971,598

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
June 30, 2019	Fair value		Unrealized losses			Fair value		Unrealized losses			Fair value		Unrealized losses
Fixed maturities
U.S. treasury bonds	$	249,954	$	(3	)	$	—	$	—		$	249,954	$	(3	)
U.S. agency bonds – mortgage-backed	10,461		(52		)	281,302		(3,151		)	291,763		(3,203		)
U.S. agency bonds – other	49,988		(1		)	—		—			49,988		(1		)
Non-U.S. government and supranational bonds	14,126		(181		)	7,789		(117		)	21,915		(298		)
Asset-backed securities	83,560		(419		)	9,266		(134		)	92,826		(553		)
Corporate bonds	26,221		(530		)	214,237		(14,728		)	240,458		(15,258		)
Total temporarily impaired fixed maturities	$	434,310	$	(1,186	)	$	512,594	$	(18,130	)	$	946,904	$	(19,316	)

4. Investments (continued)

At June 30, 2019, there were approximately 131 securities in an unrealized loss position with a fair value of $946,904 and unrealized losses of $19,316. Of these securities, there were 84 securities that have been in an unrealized loss position for 12 months or greater with a fair value of $512,594 and unrealized losses of $18,130.



	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.

Other-than-temporarily impaired ("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 June 30, 2019, 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. Therefore, there were no OTTI losses recognized in earnings on the fixed maturity portfolio in the three and six months ended June 30, 2019 and June 30, 2018, respectively.

The following summarizes the credit ratings of our fixed maturities:



Ratings⁽¹⁾ at June 30, 2019	Amortized cost		Fair value		% of Total fair value
U.S. treasury bonds	$	365,953	$	367,103	12.4	%
U.S. agency bonds	1,002,176		1,008,275		33.9	%
AAA	117,628		117,891		4.0	%
AA+, AA, AA-	154,929		156,037		5.2	%
A+, A, A-	784,152		800,009		26.9	%
BBB+, BBB, BBB-	491,469		496,589		16.7	%
BB+ or lower	25,900		25,694		0.9	%
Total fixed maturities	$	2,942,207	$	2,971,598	100.0	%

4. Investments (continued)



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	%


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


b)	Other Investments

The table below shows our portfolio of other investments:



	June 30, 2019				December 31, 2018
	Fair value		% of Total fair value		Fair value		% of Total fair value
Investment in limited partnerships	$	3,258	11.5	%	$	3,833	16.2	%
Investment in special purpose vehicles focused on lending activities	23,373		82.2	%	18,383		77.5	%
Other	1,800		6.3	%	1,500		6.3	%
Total other investments	$	28,431	100.0	%	$	23,716	100.0	%

The Company has a remaining unfunded commitment on its investment in limited partnerships of approximately $340 at June 30, 2019 (December 31, 2018 - $414). The Company also has a remaining unfunded commitment on its investment in special purpose vehicles focused on lending activities of approximately $3,516 at June 30, 2019 (December 31, 2018 - $7,359).


c)	Net Investment Income

Net investment income was derived from the following sources:



	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2019			2018			2019			2018
Fixed maturities	$	23,522		$	32,914		$	49,742		$	65,042
Funds withheld interest	5,169			54			9,706			113
Loan to related party	1,842			1,565			3,664			2,993
Cash and cash equivalents and other	1,316			800			1,591			1,168
	31,849			35,333			64,703			69,316
Investment expenses	(727		)	(1,073		)	(1,559		)	(2,187		)
Net investment income	$	31,122		$	34,260		$	63,144		$	67,129

4. Investments (continued)


d)	Realized Gains (Losses) on Investment

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



For the Three Months Ended June 30, 2019	Gross gains		Gross losses			Net
AFS fixed maturities	$	25,436	$	(1,501	)	$	23,935
Other investments	151		—			151
Net realized gains (losses) on investment	$	25,587	$	(1,501	)	$	24,086

For the Three Months Ended June 30, 2018	Gross gains		Gross losses			Net
AFS fixed maturities	$	2,287	$	(2,921	)	$	(634	)
Other investments	220		—			220
Net realized gains (losses) on investment	$	2,507	$	(2,921	)	$	(414	)

For the Six Months Ended June 30, 2019	Gross gains		Gross losses			Net
AFS fixed maturities	$	27,860	$	(14,881	)	$	12,979
Other investments	151		(145		)	6
Net realized gains (losses) on investment	$	28,011	$	(15,026	)	$	12,985

For the Six Months Ended June 30, 2018	Gross gains		Gross losses			Net
AFS fixed maturities	$	2,939	$	(4,698	)	$	(1,759	)
Other investments	1,702		—			1,702
Net realized gains (losses) on investment	$	4,641	$	(4,698	)	$	(57	)

Proceeds from sales of AFS fixed maturities were $625,254 and $709,615 for the three and six months ended June 30, 2019, respectively (2018 - $36,315 and $116,555, respectively).

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



	June 30, 2019			December 31, 2018
Fixed maturities	$	29,392		$	(59,729	)
Deferred income tax	(114		)	(33		)
Net unrealized gains (losses), net of deferred income tax	$	29,278		$	(59,762	)
Change, net of deferred income tax	$	89,040		$	(81,651	)

The portion of net unrealized gains (losses) recognized in net income (loss) for the three and six months ended June 30, 2019 and 2018 that are related to other investments still held at the end of the reporting period were as follows:



For the Three Months Ended June 30,	2019			2018
Net gains recognized in net income on other investments during the period	$	151		$	220
Net realized gains recognized on other investments divested during the period	(409		)	(287		)
Net unrealized losses recognized on other investments still held at end of period	$	(258	)	$	(67	)

For the Six Months Ended June 30,	2019			2018
Net gains recognized in net income on other investments during the period	$	6		$	1,702
Net realized gains recognized on other investments divested during the period	(411		)	(879		)
Net unrealized (losses) gains recognized on other investments still held at end of period	$	(405	)	$	823

4. Investments (continued)


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



	June 30, 2019			December 31, 2018
Restricted cash – third party agreements	$	21,299		$	21,420
Restricted cash – related party agreements⁽¹⁾	360,399			108,728
Total restricted cash	381,698			130,148
Restricted investments – in trust for third party agreements at fair value (amortized cost: 2019 – $69,855; 2018 – $88,841)	69,999			89,596
Restricted investments – in trust for related party agreements at fair value (amortized cost: 2019 – $2,655,683; 2018 – $3,870,731)	2,689,179			3,804,215
Restricted investments – liability for investments purchased for related party agreements⁽¹⁾	(266,946		)	—
Total restricted investments	2,492,232			3,893,811
Total restricted cash and investments	$	2,873,930		$	4,023,959

(1) $266,946 of the restricted cash held for related party agreements as of June 30, 2019 was used to settle the liability for investments purchased of $298,939 as of June 30, 2019 subsequent to the quarter end.

Fair Value of Financial Instruments

6 Months Ended

Jun. 30, 2019

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

(a) Fair Values of Financial Instruments

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. 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 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 representative 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. 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.

5. Fair Value of Financial Instruments (continued)

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.

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 June 30, 2019 and December 31, 2018.

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, Federal National Mortgage Association and the Federal Farm Credit Banks Funding Corporation. 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 some cases this initial period could be more than a year depending on the nature of the investment. Currently, all of our investments in special purpose vehicles focused on lending activities are held at cost which approximates fair value. In subsequent measurement periods, the fair values of these investments may be 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 Condensed 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 Condensed 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 Condensed 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.

5. Fair Value of Financial Instruments (continued)

(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.

At June 30, 2019 and December 31, 2018, we classified our financial instruments measured at fair value on a recurring basis in the following valuation hierarchy:



June 30, 2019	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	$	367,103		$	—		$	—		$	—		$	367,103
U.S. agency bonds – mortgage-backed	—			956,397			—			—			956,397
U.S. agency bonds – other	—			51,878			—			—			51,878
Non-U.S. government and supranational bonds	—			29,336			—			—			29,336
Asset-backed securities	—			221,066			—			—			221,066
Corporate bonds	—			1,332,727			—			—			1,332,727
Municipal bonds	—			13,091			—			—			13,091
Other investments	—			—			25,173			3,258			28,431
Total	$	367,103		$	2,604,495		$	25,173		$	3,258		$	3,000,029
As a percentage of total assets	8.0		%	56.6		%	0.5		%	0.1		%	65.2		%



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		%

The Company utilizes the Pricing Service to assist in determining the fair value of our 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 99.8% and 99.9% of our fixed maturities at June 30, 2019 and December 31, 2018, 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.

5. Fair Value of Financial Instruments (continued)

At June 30, 2019 and December 31, 2018, approximately 0.2% and 0.1%, respectively, of the Level 2 fixed maturities are valued using the market approach. At June 30, 2019 and December 31, 2018, one security or $5,723 and $5,676, respectively, 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 June 30, 2019 and December 31, 2018, 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 Condensed Consolidated Financial Statements.

At June 30, 2019, the Company has other investments of $25,173 (December 31, 2018 - $19,883) 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 may be 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.

(d) Financial Instruments not measured at Fair Value

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



	June 30, 2019				December 31, 2018
Financial Assets	Carrying Value		Fair Value		Carrying Value		Fair Value
HTM – corporate bonds	$	—	$	—	$	957,845	$	940,727
HTM – municipal bonds	—		—		57,836		57,285
Total financial assets	$	—	$	—	$	1,015,681	$	998,012

Financial Liabilities
Senior Notes - MHLA – 6.625%	$	110,000	$	70,400	$	110,000	$	75,240
Senior Notes - MHNC – 7.75%	152,500		129,503		152,500		143,960
Total financial liabilities	$	262,500	$	199,903	$	262,500	$	219,200

- 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

6 Months Ended

Jun. 30, 2019

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

Sale of U.S. Treaty Reinsurance operations

As described in "Note 1. Basis of Presentation", 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 U.S. Sale Agreement with Enstar.

Maiden US was a substantial portion of our Diversified Reinsurance segment, therefore, the Company concluded that the sale represented a strategic shift that has 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. Furthermore, all of the assets and liabilities related to the sale of the U.S. treaty reinsurance operations are removed from the Condensed 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 Condensed Consolidated Balance Sheets as at June 30, 2019 and December 31, 2018. The operations of the Company's U.S. treaty reinsurance business for the three and six months ended June 30, 2018 have been reclassified as part of the results from discontinued operations in the Condensed Consolidated Statements of Income.

The classes of assets and liabilities to be sold and classified as held for sale as of June 30, 2019 and December 31, 2018 comprise:



	June 30, 2019		December 31, 2018
ASSETS
Fixed maturities, available-for-sale, at fair value	$	—	$	63,560
Restricted cash and cash equivalents	—		6,113
Reinsurance balances receivable, net	689		689
Reinsurance recoverable on unpaid losses	65,320		70,158
Other assets	—		33,955
Total assets held for sale	$	66,009	$	174,475
LIABILITIES
Reserve for loss and loss adjustment expenses	$	65,320	$	76,521
Accrued expenses and other liabilities	689		79,440
Total liabilities held for sale	$	66,009	$	155,961

The following table summarizes the major classes of line items constituting the results from discontinued operations for the three and six months ended June 30, 2019 and 2018, respectively, presented in the Condensed Consolidated Statements of Income:



	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2019			2018			2019			2018
Gross premiums written	$	—		$	132,710		$	—		$	362,022
Net premiums written	$	—		$	124,560		$	—		$	351,242
Net premiums earned	$	—		$	162,958		$	—		$	331,577
Other revenue	—			—			62			—
Net investment income	—			10,053			—			20,054
Net loss and loss adjustment expenses	6,363			(121,553		)	6,363			(241,671		)
Commission and other acquisition expenses	—			(35,965		)	—			(77,951		)
General and administrative expenses	(815		)	(4,714		)	(1,832		)	(8,993		)
Amortization of intangible assets	—			(462		)	—			(924		)
Income from discontinued operations before income taxes	5,548			10,317			4,593			22,092
Loss on disposal of discontinued operations	(23,077		)	—			(25,474		)	—
Income tax expense	(1,169		)	(2,102		)	(1,169		)	(3,882		)
(Loss) income from discontinued operations, net of income tax	$	(18,698	)	$	8,215		$	(22,050	)	$	18,210

As described in "Note 13. Subsequent Events", as a result of the Settlement and Commutation Agreement entered into by Maiden and Enstar on July 31, 2019, Maiden recorded an additional loss from discontinued operations of $16,715 for the three and six months ended June 30, 2019.

Related Party Transactions

6 Months Ended

Jun. 30, 2019

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 8.0% of the outstanding shares of the Company and Barry Zyskind (the Company's non-executive chairman) owns or controls approximately 7.5% of the outstanding shares of the Company. George Karfunkel owns or controls less than 5.0% of the outstanding shares of the Company. 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 53.6% of the ownership interests of Evergreen Parent LP, 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.

8. Related Party Transactions (continued)

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 ("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 written premiums.

On June 11, 2008, Maiden Bermuda and AII amended the AmTrust Quota Share 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.

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.

Effective January 1, 2019, Maiden Bermuda and AmTrust entered into the Partial Termination Amendment which amended the AmTrust Quota Share that was in-force and set to expire on June 30, 2019. 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 increased by five percentage points with respect to in-force remaining business (excluding Terminated Business) and related unearned premium as of January 1, 2019. Subsequently, on January 30, 2019, Maiden Bermuda and AII agreed to terminate the AmTrust Quota Share on a run-off basis effective as of January 1, 2019.

The Partial Termination Amendment resulted in Maiden Bermuda returning approximately $647,980 in unearned premium to AII, or approximately $436,760 net of applicable ceding commission and brokerage as calculated during the second quarter of 2019. During January 2019, as part of this amendment, the Company transferred cash and investments of $480,000 to AII based on provisional estimates. The excess of estimated unearned premium, net of applicable ceding commission and brokerage over the actual amount of approximately $43,240 was returned by AII to Maiden Bermuda during the second quarter of 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. Subsequently, on January 30, 2019, Maiden Bermuda, AEL and AIU DAC agreed to terminate the European Hospital Liability Quota Share on a run-off basis 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 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.

The table below shows the effect of both of these quota share arrangements with AmTrust on the Company's consolidated results of operations for the three and six months ended June 30, 2019 and 2018:



	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2019			2018			2019			2018
Gross and net premiums written	$	(9,127	)	$	491,485		$	(585,604	)	$	1,065,413
Net premiums earned	111,833			477,202			269,963			981,001
Net loss and LAE	(109,091		)	(351,954		)	(247,035		)	(696,483		)
Commission expenses	(40,111		)	(148,500		)	(98,490		)	(304,350		)

8. Related Party Transactions (continued)

Collateral provided to AmTrust

a) AmTrust Quota Share Reinsurance Agreement

In order to provide AmTrust's U.S. insurance subsidiaries with credit for reinsurance on their statutory financial statements, AII, as the direct reinsurer of 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. 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 June 30, 2019 and December 31, 2018 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. Please see "Note 4. (c) Investments" for the total amount of interest earned from this loan. On January 30, 2019, in connection with the termination of the reinsurance agreements described above, the Company and AmTrust entered into 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, no further loans or advances may be made pursuant to the Loan Agreement;

•

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 June 30, 2019 was approximately $2,521,158 (December 31, 2018 - $3,650,418) and the accrued interest was $13,203 (December 31, 2018 - $23,283). Please refer to "Note 4. (e) Investments" for additional information; and

•

on January 11, 2019, a portion of the existing trust accounts used for collateral on the AmTrust Quota Share were converted to a funds withheld arrangement. The Company transferred cash and investments of $575,000 to AmTrust as a funds withheld receivable which bears an interest rate of 3.5%, subject to annual adjustment. At June 30, 2019, the balance of funds withheld was $575,000 and the accrued interest was $5,017. The interest income on the funds withheld receivable was approximately $5,017 and $9,443 for the three and six months ended June 30, 2019, respectively.

b) European Hospital Liability Quota Share

Collateral has been provided to both AEL and AIU DAC; i) for AEL, the amount of the collateral in reinsurance trust accounts at June 30, 2019 was approximately $248,878 (December 31, 2018 - $249,948) and the accrued interest was $2,022 (December 31, 2018 - $1,976). Please refer to "Note 4. (e) Investments" for additional information; and ii) in January 2019, Maiden Bermuda transferred cash of €45,113 ($51,244) to AIU DAC as a funds withheld receivable. AIU DAC pays Maiden a fixed annual interest rate of 0.50%, on the average daily Funds Withheld balance, commencing on January 24, 2019, subject to annual adjustment. At June 30, 2019, the balance of funds withheld was $58,123 and the accrued interest was $127. The interest income on the funds withheld receivable was approximately $72 and $125 for the three and six months ended June 30, 2019, respectively.

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. 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 $1,398 and $3,375 of reinsurance brokerage expense for the three and six months ended June 30, 2019, respectively (2018 - $5,966 and $12,263, respectively) and deferred reinsurance brokerage of $3,502 at June 30, 2019 (December 31, 2018 - $14,199) as a result of this agreement. The brokerage agreement was terminated as of March 15, 2019.

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 $678 and $1,453 of investment management fees for the three and six months ended June 30, 2019, respectively, (2018 - $1,033 and $2,082, respectively) under this agreement.

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.

Reserve for Loss and Loss Adjustment Expenses

6 Months Ended

Jun. 30, 2019

Insurance [Abstract]

Reserve for Loss and Loss Adjustment Expenses

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

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:



	June 30, 2019		December 31, 2018
Reserve for reported loss and LAE	$	1,533,380	$	1,571,217
Reserve for losses incurred but not reported ("IBNR")	1,517,885		1,484,759
Reserve for loss and LAE	$	3,051,265	$	3,055,976

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



For the Six Months Ended June 30,	2019			2018
Gross loss and LAE reserves, January 1	$	3,055,976		$	2,386,722
Less: reinsurance recoverable on unpaid losses, January 1	1,743			24,883
Net loss and LAE reserves, January 1	3,054,233			2,361,839
Net incurred losses related to:
Current year	240,978			685,229
Prior years	33,272			37,978
	274,250			723,207
Net paid losses related to:
Current year	(3,186		)	(151,527		)
Prior years	(272,136		)	(401,039		)
	(275,322		)	(552,566		)
Effect of foreign exchange rate movements	(3,880		)	(12,308		)
Net loss and LAE reserves, June 30	3,049,281			2,520,172
Reinsurance recoverable on unpaid losses, June 30	1,984			21,803
Gross loss and LAE reserves, June 30	$	3,051,265		$	2,541,975

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.

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. During the three and six months ended June 30, 2019, the Company recognized net adverse prior year loss development of $26,014 and $33,272, respectively (2018 - adverse $28,193 and $37,978, respectively).

In the Diversified Reinsurance segment, the net favorable prior year loss development was $1,052 and $2,148 for the three and six months ended June 30, 2019, respectively (2018 - $181 favorable and $1,085 adverse, respectively) primarily due to favorable prior year reserve development in German Auto programs as well as facultative reinsurance run-off lines.

In the AmTrust Reinsurance segment, the net adverse prior year loss development was $27,090 and $35,216 for the three and six months ended June 30, 2019, respectively (2018 - $28,374 and $36,893, respectively). The adverse development in the three and six months ended June 30, 2019 was primarily due to Commercial Auto Liability in accident years 2015 to 2018, partly offset by favorable development in Workers Compensation. The adverse development for the second quarter of 2018 primarily came from Workers Compensation and General Liability while the adverse development for the six months ended June 30, 2018 was a combination of the second quarter development and adverse development from the first quarter of 2018 largely from General Liability, with a smaller contribution from Commercial Auto liability primarily driven by accident years 2015 and 2016.

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

The Other category had net favorable prior year loss development of $24 and adverse development of $204 for the three and six months ended June 30, 2019, respectively, (2018 - $0) due to increased reserves in the run-off of the NGHC Quota Share.

Commitments and Contingencies

6 Months Ended

Jun. 30, 2019

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

There are no material changes from the commitments, contingencies and concentrations previously disclosed in the Company’s Form 10-K for the year ended December 31, 2018, other than disclosures associated with the adoption of FASB Topic 842, Leases as outlined below. Please see “Note 2. Significant Accounting Policies” for additional information related to the adoption of FASB Topic 842, Leases.


a)	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 did not enter into any new lease arrangements during the three and six months ended June 30, 2019. The Company's leases are all currently classified as operating leases and none of them have non-lease components. For operating leases that have a lease term of more than twelve months, the Company recognized a lease liability and a right-of-use asset in the Company's Condensed Consolidated Balance Sheets at the present value of the remaining lease payments until expiration. As the lease contracts generally do not provide an implicit discount rate, the Company used the weighted-average discount rate of 10%, representing its secured incremental borrowing rate, in calculating the present value of the lease liability. The exercise of lease renewal options is at the sole discretion of the Company and none of our current lease renewal options are deemed to be reasonably certain to be exercised. The Company has made an accounting policy election not to include renewal, termination, or purchase options that are not reasonably certain of exercise when determining the term of the borrowing. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. The Company's weighted-average remaining lease term is 3.0 years.

The Company's future lease obligations as at June 30, 2019 of approximately $2,878 was calculated based on the present value of future annual rental commitments excluding taxes, insurance and other operating costs for non-cancellable operating leases discounted using the Company's secured incremental borrowing rate. This amount has been recognized on the Company's Condensed Consolidated Balance Sheets as a lease liability of $2,878 within accrued expenses and other liabilities with an equivalent amount for the right-of-use asset presented as part of other assets. However, under the guidance, the Company has continued to recognize the related leasing expense on a straight-line basis over the lease term in the Company's Condensed Consolidated Statements of Income. The Company's total lease expense for the three and six months ended June 30, 2019 was $389 and $810, respectively (2018 - $516 and $1,131, respectively) which was recognized within net income consistent with the accounting treatment in prior periods under Topic 840. The operating cash outflows from operating leases included in the measurement of the lease liability during the three and six months ended June 30, 2019 was $340 and $681, respectively. At June 30, 2019, the scheduled maturity of the Company's operating lease liabilities are expected to be as follows:



	June 30, 2019
Remainder of 2019	$	669
2020	1,171
2021	741
2022	741
Discount for present value	(444		)
Total discounted operating lease liabilities	$	2,878

At December 31, 2018, the Company's future minimum lease payments under non-cancellable operating leases were expected to be as follows:



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


b)	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.

10. Commitments and Contingencies (continued)

In April 2009, the Company learned that Bentzion S. Turin, the former Chief Operating Officer, General Counsel and Secretary of Maiden Holdings and Maiden Bermuda, sent a letter to the U.S. Department of Labor claiming that his employment with the Company was terminated in retaliation for corporate whistle-blowing in violation of the whistle-blower protection provisions of the Sarbanes-Oxley Act of 2002. Mr. Turin alleged 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

6 Months Ended

Jun. 30, 2019

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 Three Months Ended June 30,	2019			2018
Numerator:
Net income (loss) from continuing operations	$	3,285		$	(5,535	)
Net income from continuing operations attributable to noncontrolling interests	—			(47		)
Net income (loss) attributable to Maiden from continuing operations	3,285			(5,582		)
Dividends on preference shares – Series A, C and D	—			(8,546		)
Amount allocated to participating common shareholders⁽¹⁾	—			(4		)
Income (loss) attributable to Maiden common shareholders, before discontinued operations	3,285			(14,132		)
(Loss) income from discontinued operations, net of income tax expense	(18,698		)	8,215
Numerator for basic and diluted EPS - net loss allocated to Maiden common shareholders	$	(15,413	)	$	(5,917	)
Denominator:
Weighted average number of common shares – basic	83,058,123			83,126,204
Potentially dilutive securities:
Share options and restricted share units	17,033			—
Adjusted weighted average number of common shares – diluted	83,075,156			83,126,204
Basic and diluted earnings (loss) from continuing operations per share - Maiden common shareholders	$	0.04		$	(0.17	)
Basic and diluted (loss) earnings from discontinued operations per share - Maiden common shareholders	(0.23		)	0.10
Basic and diluted loss per share attributable to Maiden common shareholders:	$	(0.19	)	$	(0.07	)

11. Earnings per Common Share (continued)



For the Six Months Ended June 30,	2019			2018
Numerator:
Net (loss) income from continuing operations	$	(29,999	)	$	6,813
Net income from continuing operations attributable to noncontrolling interests	—			(118		)
Net (loss) income attributable to Maiden from continuing operations	(29,999		)	6,695
Dividends on preference shares – Series A, C and D	—			(17,091		)
Amount allocated to participating common shareholders⁽¹⁾	—			(9		)
Loss attributable to Maiden common shareholders, before discontinued operations	(29,999		)	(10,405		)
(Loss) income from discontinued operations, net of income tax expense	(22,050		)	18,210
Net (loss) income allocated to Maiden common shareholders	$	(52,049	)	$	7,805
Denominator:
Weighted average number of common shares – basic and diluted	83,008,888			83,083,545
Basic and diluted loss from continuing operations per share attributable to Maiden common shareholders	$	(0.36	)	$	(0.13	)
Basic and diluted (loss) earnings from discontinued operations per share attributable to Maiden common shareholders	(0.27		)	0.22
Basic and diluted (loss) earnings per share attributable to Maiden common shareholders:	$	(0.63	)	$	0.09


(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.


(2)	Please refer to "Note 14. Shareholders' Equity" and "Note 15. Share Compensation and Pension Plans" of the Notes to Consolidated Financial Statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2018, for the terms and conditions of each of these anti-dilutive instruments.

At June 30, 2019, 518,029 share options and restricted share units (2018 - 571,143) were excluded from diluted earnings per common share as they were anti-dilutive.

Shareholders' Equity

6 Months Ended

Jun. 30, 2019

Stockholders' Equity Note [Abstract]

Shareholders' Equity


a)	Common Shares

At June 30, 2019, the aggregate authorized share capital of the Company is 150,000,000 shares from which the Company has issued 88,079,315 common shares, of which 83,066,135 common shares are outstanding, and 18,600,000 preference shares, all of which are outstanding. The remaining 43,320,685 shares are undesignated at June 30, 2019. For further discussion on the components of Shareholders' Equity, please refer to the Company's Annual Report on Form 10-K for the year ended December 31, 2018.


b)	Treasury Shares

During the six months ended June 30, 2019, the Company repurchased a total of 23,220 (2018 - 29,391) shares at an average price per share of $0.78 (2018 - $6.57) from employees, which represent withholdings in respect of tax obligations on the vesting of restricted shares and performance based shares.

12. Shareholders' Equity (continued)


c)	Accumulated Other Comprehensive Gain (Loss)

The following tables set forth financial information regarding the changes in the balances of each component of AOCI:



For the Three Months Ended June 30, 2019	Change in net unrealized gains on investment			Foreign currency translation			Total
Beginning balance	$	1,714		$	(1,934	)	$	(220	)
Other comprehensive income (loss) before reclassifications	42,979			(6,192		)	36,787
Amounts reclassified from AOCI to net loss, net of tax	(15,415		)	—			(15,415		)
Net current period other comprehensive income (loss)	27,564			(6,192		)	21,372
Ending balance, Maiden shareholders	$	29,278		$	(8,126	)	$	21,152

For the Three Months Ended June 30, 2018	Change in net unrealized gains on investment			Foreign currency translation			Total
Beginning balance	$	(46,429	)	$	(16,523	)	$	(62,952	)
Other comprehensive (loss) income before reclassifications	(50,423		)	15,605			(34,818		)
Amounts reclassified from AOCI to net income, net of tax	745			—			745
Net current period other comprehensive (loss) income	(49,678		)	15,605			(34,073		)
Ending balance	(96,107		)	(918		)	(97,025		)
Less: AOCI attributable to noncontrolling interest	—			(66		)	(66		)
Ending balance, Maiden shareholders	$	(96,107	)	$	(852	)	$	(96,959	)



For the Six Months Ended June 30, 2019	Change in net unrealized gains on investment			Foreign currency translation			Total
Beginning balance	$	(59,762	)	$	(5,932	)	$	(65,694	)
Other comprehensive income (loss) before reclassifications	91,967			(2,194		)	89,773
Amounts reclassified from AOCI to net income, net of tax	(2,927		)	—			(2,927		)
Net current period other comprehensive income (loss)	89,040			(2,194		)	86,846
Ending balance, Maiden shareholders	$	29,278		$	(8,126	)	$	21,152

For the Six Months Ended June 30, 2018	Change in net unrealized gains on investment			Foreign currency translation			Total
Beginning balance	$	21,889		$	(8,583	)	$	13,306
Other comprehensive (loss) income before reclassifications	(117,251		)	7,665			(109,586		)
Amounts reclassified from AOCI to net income, net of tax	(745		)	—			(745		)
Net current period other comprehensive (loss) income	(117,996		)	7,665			(110,331		)
Ending balance	(96,107		)	(918		)	(97,025		)
Less: AOCI attributable to noncontrolling interest	—			(66		)	(66		)
Ending balance, Maiden shareholders	$	(96,107	)	$	(852	)	$	(96,959	)

Subsequent Events	6 Months Ended
Subsequent Events	Jun. 30, 2019
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events a) LPT/ADC MTA with Enstar Effective on July 31, 2019, the Company and Enstar entered into the LPT/ADC Agreement pursuant to the LPT/ADC MTA entered into on March 1, 2019. Under the LPT/ADC Agreement, Cavello, Enstar's Bermuda reinsurance affiliate, will assume liabilities for the loss reserves as of December 31, 2018 associated with the AmTrust Quota Share in excess of a $2,178,535 retention up to $600,000, in exchange for a retrocession premium of $445,000. The $2,178,535 retention will be subject to adjustment for paid losses subsequent to December 31, 2018. The LPT/ADC Agreement will provide Maiden Bermuda with $155,000 in adverse development cover over its carried AmTrust Quota Share loss reserves at December 31, 2018. The LPT/ADC Agreement meets the criteria for risk transfer and therefore will be accounted for as retroactive reinsurance. Cumulative ceded losses exceeding $445,000 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 may result in significant losses from operations until periods when the deferred gain is recognized as a benefit to earnings. 13. Subsequent Events (continued) Under the terms of the agreement, the covered losses associated with the commutation with AmTrust, as discussed below in (c) Commutation and Release Agreement - AmTrust Quota Share, are eligible to be covered but recoverable only when such losses are paid or settled by AII or its affiliates, provided such losses and other related amounts shall not exceed $312,786. Pursuant to the terms of the LPT/ADC Agreement, Maiden Bermuda, Cavello and AmTrust and certain of its affiliated companies have entered into a Master Collateral Agreement (“MCA”) to define and enable the operation of collateral provided under the AmTrust Quota Share. Under the MCA, Cavello, on behalf of Maiden Bermuda, will provide letters of credit to AmTrust in an amount representing Cavello’s obligations under the LPT/ADC Agreement. As these letters of credit will replace other collateral currently provided directly by Maiden Bermuda to AmTrust, the MCA coordinates the collateral protection that will be provided to AmTrust to ensure that no gaps in collateral funding occur by operation of the LPT/ADC Agreement and related MCA. Settlement of funding for the LPT/ADC Agreement will occur no later than August 12, 2019 and Maiden Bermuda will pay Enstar approximately $7,261 in interest related to the LPT/ADC Agreement premium, calculated at the rate of 2.64% per annum from January 1, 2019 through August 12, 2019. b) Settlement and Commutation Agreement with Enstar Related to Maiden US Sale Maiden NA completed the sale of Maiden US to Enstar Holdings on December 27, 2018 for gross consideration of $286,375, which was subject to post-closing adjustments. In conjunction with the completion of the LPT/ADC Agreement, Maiden NA and Enstar Holdings have waived the post-closing adjustments procedures subject to that agreement and have also agreed to terminate the $25,000 excess of loss reinsurance agreement that Maiden Bermuda provided to Enstar in relation to the MRNA loss reserves acquired by Enstar. As a result of these agreements, Maiden recorded a net additional loss from discontinued operations of $16,715 for the three and six months ended June 30, 2019. c) Commutation and Release Agreement - AmTrust Quota Share The Commutation and Release Agreement entered into and effective as of July 31, 2019, by AII and Maiden Bermuda, provides for AII to assume all reserves ceded by AII to Maiden Bermuda with respect to its proportional 40% share of the ultimate net loss under the AmTrust Quota Share related to: (a) all losses incurred in Accident Year 2017 and Accident Year 2018 under California workers' compensation policies issued by AII and as defined in the AmTrust Quota Share ("Commuted California Business"); and (b) all losses incurred in Accident Year 2018 under New York workers' compensation policies issued by AII ("Commuted New York Business") and together with the Commuted California Business ("Commuted Business") in exchange for the release and full discharge of Maiden Bermuda of all of its obligations to AII with respect to the Commuted Business. The Commuted Business does not include any business classified by AII as Specialty Program or Specialty Risk business. AII and Maiden Bermuda agreed that the Commuted Business shall be discharged by Maiden Bermuda's transfer of cash and invested assets in the amount of $312,786 ("Commutation Payment") which is the sum of the net ceded reserves in the amount of $330,682 with respect to the Commuted Business as of December 31, 2018 less payments in the amount of $17,896 made by Maiden Bermuda with respect to the Commuted Business from January 1, 2019 through July 31, 2019. Settlement of the Commutation Payment will occur no later than August 12, 2019 and Maiden Bermuda will pay AII approximately $6,335 in interest related to the Commutation Payment premium, calculated at the rate of 3.30% per annum from January 1, 2019 through August 12, 2019. Maiden Bermuda received a no objection letter from the BMA regarding the Commutation and Release Agreement. AII and Maiden Bermuda also agreed that, as of July 31, 2019, the AmTrust Quota Share shall be deemed amended as applicable so that the Commuted Business is no longer included as part of the Covered Business under the AmTrust Quota Share. d) Post-Termination Endorsement - AmTrust Quota Share As a result of entering into both the LPT/ADC Agreement and the MCA, certain post-termination endorsements (“PTE”) to the AmTrust Quota Share between AII and Maiden Bermuda were required. The PTE, effective as of July 31, 2019, enables the operation of both the LPT/ADC Agreement and MCA by making provision for certain forms of collateral, including letters of credit provided by Cavello on Maiden Bermuda’s behalf. In addition, the PTE further defines the permitted use and return of collateral. The PTE also increases the required funding percentage for Maiden Bermuda’s under the collateral arrangements between the parties to 105% of its obligations, subject to a minimum excess funding requirement of $54,000, as may be mutually amended by the parties from time to time. Under certain defined conditions, Maiden Bermuda may be required to increase this funding percentage to 110%. Finally, as part of the PTE, the parties amended the existing Loss Corridor under the AmTrust Quota Share to include a maximum amount of $40,500, the amount calculated by Maiden Bermuda for the Loss Corridor coverage as of March 31, 2019. Any development over and above this maximum amount will be subject to the coverage of the LPT/ADC Agreement, subject to the terms thereof. Please see "Note 8. Related Party Transactions" for details of the existing Loss Corridor.

Significant Accounting Policies (Policies)	6 Months Ended
Significant Accounting Policies (Policies)	Jun. 30, 2019
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited Condensed Consolidated Financial Statements include the accounts of Maiden Holdings, Ltd. ("Maiden Holdings") and its subsidiaries (the "Company" or "Maiden"). They have been prepared in accordance with accounting principles generally accepted in the United States ("U.S. GAAP") for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X as promulgated by the U.S. Securities and Exchange Commission ("SEC"). Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. All significant intercompany transactions and accounts have been eliminated. These interim unaudited Condensed Consolidated Financial Statements reflect all adjustments that are, in the opinion of management, necessary for a fair presentation of the results for the interim period and all such adjustments are of a normal recurring nature. The results of operations for the interim period are not necessarily indicative, if annualized, of those to be expected for the full year. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. These unaudited Condensed Consolidated Financial Statements, including these notes, should be read in conjunction with the Company's audited Consolidated Financial Statements, and related notes thereto, included in the Company's Annual Report on Form 10-K for the year ended December 31, 2018. Results of operations for prior year comparatives have been reclassified for 2018 to conform to the 2019 presentation due to discontinued operations as discussed below. The effect of these reclassifications had no impact on previously reported shareholders' equity or net income.
Recently Adopted Accounting Standards Updates and Recently Issued Accounting Standards Not Yet Adopted	Recently Adopted Accounting Standards Updates Improvements to Non-employee Share-Based Payment Accounting In June 2018, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("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. The Company currently measures directors’ share-based payment awards at fair value as at their grant date; therefore the adoption of this standard on January 1, 2019 did not have any impact on the Company’s Condensed Consolidated Financial Statements. Codification Improvements In July 2018, the FASB issued ASU 2018-09 which includes clarifications to existing codifications or corrections of unintended application of guidance that is not expected to have a significant effect on current accounting practice or create a significant administrative cost to most entities. The amendments in this update include items raised for board consideration through the codification's feedback system that met the scope of this project, making due process necessary. The amendments affect a wide variety of topics in the codification. The amendments apply to all reporting entities within the scope of the affected accounting guidance. None of the topics deemed applicable upon adoption of this standard on January 1, 2019 have a material impact in the Company's interim consolidated financial statements. 2. Significant Accounting Policies (continued) Topic 842, Leases In July 2018, the FASB issued ASU 2018-11 for targeted improvements related to ASU 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 Accounting Standards Codification ("ASC") 842 at the adoption date and recognizes a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. Topic 842 became effective for the Company during the first quarter of 2019 and was applied using a modified retrospective approach by electing the additional transition method permitted by ASU 2018-11. Under the additional transition method, the Company's reporting for the comparative periods presented in its financial statements will be in accordance with the pre-effective date lease accounting requirements under Topic 840. The Company adopted Topic 842 effective on January 1, 2019, by electing as a package the practical expedients permitted under the transition guidance of Topic 842, and applied consistently to all leases that had commenced before the effective date of adoption. The package of practical expedients allowed the Company not to reassess the following: whether any expired or existing contracts are or contain leases; the lease classification for any expired or existing leases; and initial direct costs for any existing leases. In addition to electing the package of practical expedients, the Company made an accounting policy election to account for non-lease components separately from lease components. Furthermore, the Company made an accounting policy election not to record leases with an initial term of twelve months or less in the Company's Condensed Consolidated Balance Sheets. The adoption of this standard on January 1, 2019 has impacted the Company’s Condensed Consolidated Balance Sheets but did not have any impact on its results of operations or cash flows. Please refer to "Note 10. Commitments and Contingencies a) Operating Lease Commitments" for further disclosures regarding the impact of the adoption of Topic 842 in 2019. 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 U.S. 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 Condensed 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 has always handled the amortization of any premiums by amortizing to the earliest effective maturity; therefore, the adoption of this guidance on January 1, 2019 did not have any impact on its Condensed Consolidated Financial Statements. Recently Issued Accounting Standards Not Yet Adopted Accounting for Measurement of Credit Losses on Financial Instruments In April 2019, the FASB issued ASU 2019-04 for targeted improvements related to ASU 2016-13 "Financial Instruments - Credit Losses (Topic 326) - Measurement of Credit Losses on Financial Instruments" which replaces the "incurred loss" impairment methodology with an approach based on "expected losses" to estimate credit losses on certain types of financial instruments and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The guidance requires financial assets measured at amortized cost to be presented at the net amount expected to be collected. 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. The Update also modified the accounting for available-for-sale ("AFS") debt securities, which must be individually assessed for credit losses when fair value is less than the amortized cost basis, in accordance with Subtopic 326-30, Financial Instruments—Credit Losses—Available-for-Sale Debt Securities. Credit losses relating to AFS debt securities will be recorded through an allowance for credit losses. The codification improvements in ASU 2019-04 clarify that an entity should include recoveries when estimating the allowance for credit losses. The amendments specify that expected recoveries of amounts previously written off and expected to be written off should be included in the valuation account and should not exceed the aggregate of amounts previously written off and expected to be written off by the entity. In addition, for collateral dependent financial assets, the amendments clarify that an allowance for credit losses that is added to the amortized cost basis of the financial asset(s) should not exceed amounts previously written off. The amendment also clarifies FASB’s intent to include all reinsurance recoverables that are within the scope of Topic 944 to be within the scope of Subtopic 326-20, regardless of the measurement basis of those recoverables.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.

Segment Information (Tables)

6 Months Ended

Jun. 30, 2019

Segment Reporting [Abstract]

Underwriting results of operating segments

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



For the Three Months Ended June 30, 2019	Diversified Reinsurance			AmTrust Reinsurance			Other		Total
Gross premiums written	$	11,244		$	(9,127	)	$	—	$	2,117
Net premiums written	$	8,718		$	(9,127	)	$	—	$	(409	)
Net premiums earned	$	22,472		$	111,514		$	—	$	133,986
Other insurance revenue	754			—			—		754
Net loss and loss adjustment expenses ("loss and LAE")	(12,497		)	(109,088		)	24		(121,561		)
Commission and other acquisition expenses	(8,147		)	(41,509		)	—		(49,656		)
General and administrative expenses	(2,092		)	(562		)	—		(2,654		)
Underwriting income (loss)	$	490		$	(39,645	)	$	24	(39,131		)
Reconciliation to net income from continuing operations
Net investment income and realized gains on investment									55,208
Interest and amortization expenses									(4,830		)
Foreign exchange and other gains									1,207
Other general and administrative expenses									(10,195		)
Income tax benefit									1,026
Net income from continuing operations									$	3,285

Net loss and LAE ratio⁽¹⁾	53.8		%	97.8		%			90.2		%
Commission and other acquisition expense ratio⁽²⁾	35.1		%	37.2		%			36.9		%
General and administrative expense ratio⁽³⁾	9.0		%	0.5		%			9.5		%
Expense ratio⁽⁴⁾	44.1		%	37.7		%			46.4		%
Combined ratio⁽⁵⁾	97.9		%	135.5		%			136.6		%

3. Segment Information (continued)



For the Three Months Ended June 30, 2018	Diversified Reinsurance			AmTrust Reinsurance			Other		Total
Gross premiums written	$	30,041		$	491,485		$	—	$	521,526
Net premiums written	$	29,717		$	491,311		$	—	$	521,028
Net premiums earned	$	28,539		$	475,849		$	—	$	504,388
Other insurance revenue	2,033			—			—		2,033
Net loss and LAE	(16,165		)	(353,836		)	—		(370,001		)
Commission and other acquisition expenses	(9,988		)	(152,792		)	—		(162,780		)
General and administrative expenses	(4,593		)	(1,082		)	—		(5,675		)
Underwriting loss	$	(174	)	$	(31,861	)	$	—	(32,035		)
Reconciliation to net loss from continuing operations
Net investment income and realized losses on investment									33,846
Interest and amortization expenses									(4,829		)
Foreign exchange gains									4,821
Other general and administrative expenses									(9,185		)
Income tax benefit									1,847
Net loss from continuing operations									$	(5,535	)

Net loss and LAE ratio⁽¹⁾	52.9		%	74.4		%			73.1		%
Commission and other acquisition expense ratio⁽²⁾	32.7		%	32.1		%			32.1		%
General and administrative expense ratio⁽³⁾	15.0		%	0.2		%			2.9		%
Expense ratio⁽⁴⁾	47.7		%	32.3		%			35.0		%
Combined ratio⁽⁵⁾	100.6		%	106.7		%			108.1		%

3. Segment Information (continued)



For the Six Months Ended June 30, 2019	Diversified Reinsurance			AmTrust Reinsurance			Other			Total
Gross premiums written	$	26,582		$	(585,604	)	$	—		$	(559,022	)
Net premiums written	$	23,665		$	(585,604	)	$	—		$	(561,939	)
Net premiums earned	$	47,764		$	269,324		$	—		$	317,088
Other insurance revenue	1,504			—			—			1,504
Net loss and LAE	(26,888		)	(247,158		)	(204		)	(274,250		)
Commission and other acquisition expenses	(17,408		)	(101,865		)	—			(119,273		)
General and administrative expenses	(5,123		)	(1,828		)	—			(6,951		)
Underwriting loss	$	(151	)	$	(81,527	)	$	(204	)	(81,882		)
Reconciliation to net loss from continuing operations
Net investment income and realized gains on investment										76,129
Interest and amortization expenses										(9,659		)
Foreign exchange and other gains										6,186
Other general and administrative expenses										(21,837		)
Income tax benefit										1,064
Net loss from continuing operations										$	(29,999	)

Net loss and LAE ratio⁽¹⁾	54.6		%	91.8		%				86.1		%
Commission and other acquisition expense ratio⁽²⁾	35.3		%	37.8		%				37.5		%
General and administrative expense ratio⁽³⁾	10.4		%	0.7		%				9.0		%
Expense ratio⁽⁴⁾	45.7		%	38.5		%				46.5		%
Combined ratio⁽⁵⁾	100.3		%	130.3		%				132.6		%

3. Segment Information (continued)



For the Six Months Ended June 30, 2018	Diversified Reinsurance			AmTrust Reinsurance			Other		Total
Gross premiums written	$	79,441		$	1,065,413		$	—	$	1,144,854
Net premiums written	$	77,988		$	1,065,691		$	—	$	1,143,679
Net premiums earned	$	54,054		$	967,147		$	—	$	1,021,201
Other insurance revenue	5,759			—			—		5,759
Net loss and LAE	(32,064		)	(691,143		)	—		(723,207		)
Commission and other acquisition expenses	(19,300		)	(310,108		)	—		(329,408		)
General and administrative expenses	(9,074		)	(2,002		)	—		(11,076		)
Underwriting loss	$	(625	)	$	(36,106	)	$	—	(36,731		)
Reconciliation to net income from continuing operations
Net investment income and realized losses on investment									67,072
Interest and amortization expenses									(9,658		)
Foreign exchange gains									2,414
Other general and administrative expenses									(19,455		)
Income tax benefit									3,171
Net income from continuing operations									$	6,813

Net loss and LAE ratio⁽¹⁾	53.6		%	71.4		%			70.4		%
Commission and other acquisition expense ratio⁽²⁾	32.2		%	32.1		%			32.1		%
General and administrative expense ratio⁽³⁾	15.2		%	0.2		%			3.0		%
Expense ratio⁽⁴⁾	47.4		%	32.3		%			35.1		%
Combined ratio⁽⁵⁾	101.0		%	103.7		%			105.5		%


(1)	Calculated by dividing 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 net loss and LAE ratio and the expense ratio.

The following tables summarize the financial position of our reportable segments including the reconciliation to our consolidated assets at June 30, 2019 and December 31, 2018:



June 30, 2019	Diversified Reinsurance		AmTrust Reinsurance		Total
Total assets - reportable segments	$	180,370	$	3,720,416	$	3,900,786
Corporate assets	—		—		631,761
Assets held for sale	—		—		66,009
Total Assets	$	180,370	$	3,720,416	$	4,598,556

December 31, 2018	Diversified Reinsurance		AmTrust Reinsurance		Total
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

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 three and six months ended June 30, 2019 and 2018:



For the Three Months Ended June 30,	2019			2018
Net premiums written	Total			Total
Diversified Reinsurance
International	$	8,718		$	29,717
Total Diversified Reinsurance	8,718			29,717
AmTrust Reinsurance
Small Commercial Business	5,515			279,486
Specialty Program	(16,031		)	103,196
Specialty Risk and Extended Warranty	1,389			108,629
Total AmTrust Reinsurance	(9,127		)	491,311
Total Net Premiums Written	$	(409	)	$	521,028



For the Six Months Ended June 30,	2019			2018
Net premiums written	Total			Total
Diversified Reinsurance
International	$	23,665		$	77,947
Other	—			41
Total Diversified Reinsurance	23,665			77,988
AmTrust Reinsurance
Small Commercial Business	(337,166		)	647,240
Specialty Program	(28,639		)	192,327
Specialty Risk and Extended Warranty	(219,799		)	226,124
Total AmTrust Reinsurance	(585,604		)	1,065,691
Total Net Premiums Written	$	(561,939	)	$	1,143,679

The following tables set forth financial information relating to net premiums earned by major line of business and reportable segment for the three and six months ended June 30, 2019 and 2018:



For the Three Months Ended June 30,	2019		2018
Net premiums earned	Total		Total
Diversified Reinsurance
International	$	22,472	$	28,539
Other	—		—
Total Diversified Reinsurance	22,472		28,539
AmTrust Reinsurance
Small Commercial Business	23,283		293,514
Specialty Program	30,326		96,739
Specialty Risk and Extended Warranty	57,905		85,596
Total AmTrust Reinsurance	111,514		475,849
Total Net Premiums Earned	$	133,986	$	504,388

3. Segment Information (continued)



For the Six Months Ended June 30,	2019		2018
Net premiums earned	Total		Total
Diversified Reinsurance
International	$	47,764	$	54,013
Other	—		41
Total Diversified Reinsurance	47,764		54,054
AmTrust Reinsurance
Small Commercial Business	62,738		609,223
Specialty Program	106,547		185,233
Specialty Risk and Extended Warranty	100,039		172,691
Total AmTrust Reinsurance	269,324		967,147
Total Net Premiums Earned	$	317,088	$	1,021,201

Investments (Tables)

6 Months Ended

Jun. 30, 2019

Schedule of Investments [Abstract]

Original or amortized cost, estimated fair value and gross unrealized gains and losses of fixed maturities

The original or amortized cost, estimated fair value and gross unrealized gains and losses of fixed maturities at June 30, 2019 and December 31, 2018 are as follows:



June 30, 2019	Original or amortized cost		Gross unrealized gains		Gross unrealized losses			Fair value
AFS fixed maturities:
U.S. treasury bonds	$	365,953	$	1,153	$	(3	)	$	367,103
U.S. agency bonds – mortgage-backed	950,301		9,299		(3,203		)	956,397
U.S. agency bonds – other	51,875		4		(1		)	51,878
Non-U.S. government and supranational bonds	29,321		313		(298		)	29,336
Asset-backed securities	220,938		681		(553		)	221,066
Corporate bonds	1,310,870		37,115		(15,258		)	1,332,727
Municipal bonds	12,949		142		—			13,091
Total fixed maturity investments	$	2,942,207	$	48,707	$	(19,316	)	$	2,971,598



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

Contractual maturities of fixed maturities, available-for-sale



June 30, 2019	Amortized cost		Fair value
Maturity
Due in one year or less	$	403,428	$	402,136
Due after one year through five years	791,633		798,539
Due after five years through ten years	575,907		593,460
	1,770,968		1,794,135
U.S. agency bonds – mortgage-backed	950,301		956,397
Asset-backed securities	220,938		221,066
Total fixed maturities	$	2,942,207	$	2,971,598

Summary of fixed maturities 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
June 30, 2019	Fair value		Unrealized losses			Fair value		Unrealized losses			Fair value		Unrealized losses
Fixed maturities
U.S. treasury bonds	$	249,954	$	(3	)	$	—	$	—		$	249,954	$	(3	)
U.S. agency bonds – mortgage-backed	10,461		(52		)	281,302		(3,151		)	291,763		(3,203		)
U.S. agency bonds – other	49,988		(1		)	—		—			49,988		(1		)
Non-U.S. government and supranational bonds	14,126		(181		)	7,789		(117		)	21,915		(298		)
Asset-backed securities	83,560		(419		)	9,266		(134		)	92,826		(553		)
Corporate bonds	26,221		(530		)	214,237		(14,728		)	240,458		(15,258		)
Total temporarily impaired fixed maturities	$	434,310	$	(1,186	)	$	512,594	$	(18,130	)	$	946,904	$	(19,316	)



	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	)

Summary of the credit ratings of fixed maturities

The following summarizes the credit ratings of our fixed maturities:



Ratings⁽¹⁾ at June 30, 2019	Amortized cost		Fair value		% of Total fair value
U.S. treasury bonds	$	365,953	$	367,103	12.4	%
U.S. agency bonds	1,002,176		1,008,275		33.9	%
AAA	117,628		117,891		4.0	%
AA+, AA, AA-	154,929		156,037		5.2	%
A+, A, A-	784,152		800,009		26.9	%
BBB+, BBB, BBB-	491,469		496,589		16.7	%
BB+ or lower	25,900		25,694		0.9	%
Total fixed maturities	$	2,942,207	$	2,971,598	100.0	%

4. Investments (continued)



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	%

(1)

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

Portfolio of other investments

The table below shows our portfolio of other investments:



	June 30, 2019				December 31, 2018
	Fair value		% of Total fair value		Fair value		% of Total fair value
Investment in limited partnerships	$	3,258	11.5	%	$	3,833	16.2	%
Investment in special purpose vehicles focused on lending activities	23,373		82.2	%	18,383		77.5	%
Other	1,800		6.3	%	1,500		6.3	%
Total other investments	$	28,431	100.0	%	$	23,716	100.0	%

Net investment income

Net investment income was derived from the following sources:



	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2019			2018			2019			2018
Fixed maturities	$	23,522		$	32,914		$	49,742		$	65,042
Funds withheld interest	5,169			54			9,706			113
Loan to related party	1,842			1,565			3,664			2,993
Cash and cash equivalents and other	1,316			800			1,591			1,168
	31,849			35,333			64,703			69,316
Investment expenses	(727		)	(1,073		)	(1,559		)	(2,187		)
Net investment income	$	31,122		$	34,260		$	63,144		$	67,129

Analysis of realized and unrealized gains (losses) on investment



For the Three Months Ended June 30,	2019			2018
Net gains recognized in net income on other investments during the period	$	151		$	220
Net realized gains recognized on other investments divested during the period	(409		)	(287		)
Net unrealized losses recognized on other investments still held at end of period	$	(258	)	$	(67	)

For the Six Months Ended June 30,	2019			2018
Net gains recognized in net income on other investments during the period	$	6		$	1,702
Net realized gains recognized on other investments divested during the period	(411		)	(879		)
Net unrealized (losses) gains recognized on other investments still held at end of period	$	(405	)	$	823



For the Three Months Ended June 30, 2019	Gross gains		Gross losses			Net
AFS fixed maturities	$	25,436	$	(1,501	)	$	23,935
Other investments	151		—			151
Net realized gains (losses) on investment	$	25,587	$	(1,501	)	$	24,086

For the Three Months Ended June 30, 2018	Gross gains		Gross losses			Net
AFS fixed maturities	$	2,287	$	(2,921	)	$	(634	)
Other investments	220		—			220
Net realized gains (losses) on investment	$	2,507	$	(2,921	)	$	(414	)

For the Six Months Ended June 30, 2019	Gross gains		Gross losses			Net
AFS fixed maturities	$	27,860	$	(14,881	)	$	12,979
Other investments	151		(145		)	6
Net realized gains (losses) on investment	$	28,011	$	(15,026	)	$	12,985

For the Six Months Ended June 30, 2018	Gross gains		Gross losses			Net
AFS fixed maturities	$	2,939	$	(4,698	)	$	(1,759	)
Other investments	1,702		—			1,702
Net realized gains (losses) on investment	$	4,641	$	(4,698	)	$	(57	)

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

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



	June 30, 2019			December 31, 2018
Fixed maturities	$	29,392		$	(59,729	)
Deferred income tax	(114		)	(33		)
Net unrealized gains (losses), net of deferred income tax	$	29,278		$	(59,762	)
Change, net of deferred income tax	$	89,040		$	(81,651	)

Fair value of restricted assets

The fair value of our restricted assets was as follows:



	June 30, 2019			December 31, 2018
Restricted cash – third party agreements	$	21,299		$	21,420
Restricted cash – related party agreements⁽¹⁾	360,399			108,728
Total restricted cash	381,698			130,148
Restricted investments – in trust for third party agreements at fair value (amortized cost: 2019 – $69,855; 2018 – $88,841)	69,999			89,596
Restricted investments – in trust for related party agreements at fair value (amortized cost: 2019 – $2,655,683; 2018 – $3,870,731)	2,689,179			3,804,215
Restricted investments – liability for investments purchased for related party agreements⁽¹⁾	(266,946		)	—
Total restricted investments	2,492,232			3,893,811
Total restricted cash and investments	$	2,873,930		$	4,023,959

Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2019

Fair Value Disclosures [Abstract]

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

At June 30, 2019 and December 31, 2018, we classified our financial instruments measured at fair value on a recurring basis in the following valuation hierarchy:



June 30, 2019	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	$	367,103		$	—		$	—		$	—		$	367,103
U.S. agency bonds – mortgage-backed	—			956,397			—			—			956,397
U.S. agency bonds – other	—			51,878			—			—			51,878
Non-U.S. government and supranational bonds	—			29,336			—			—			29,336
Asset-backed securities	—			221,066			—			—			221,066
Corporate bonds	—			1,332,727			—			—			1,332,727
Municipal bonds	—			13,091			—			—			13,091
Other investments	—			—			25,173			3,258			28,431
Total	$	367,103		$	2,604,495		$	25,173		$	3,258		$	3,000,029
As a percentage of total assets	8.0		%	56.6		%	0.5		%	0.1		%	65.2		%



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		%

Carrying values and fair values of financial instruments not measured at fair value

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



	June 30, 2019				December 31, 2018
Financial Assets	Carrying Value		Fair Value		Carrying Value		Fair Value
HTM – corporate bonds	$	—	$	—	$	957,845	$	940,727
HTM – municipal bonds	—		—		57,836		57,285
Total financial assets	$	—	$	—	$	1,015,681	$	998,012

Financial Liabilities
Senior Notes - MHLA – 6.625%	$	110,000	$	70,400	$	110,000	$	75,240
Senior Notes - MHNC – 7.75%	152,500		129,503		152,500		143,960
Total financial liabilities	$	262,500	$	199,903	$	262,500	$	219,200

Discontinued Operations (Tables)

6 Months Ended

Jun. 30, 2019

Discontinued Operations and Disposal Groups [Abstract]

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

The classes of assets and liabilities to be sold and classified as held for sale as of June 30, 2019 and December 31, 2018 comprise:



	June 30, 2019		December 31, 2018
ASSETS
Fixed maturities, available-for-sale, at fair value	$	—	$	63,560
Restricted cash and cash equivalents	—		6,113
Reinsurance balances receivable, net	689		689
Reinsurance recoverable on unpaid losses	65,320		70,158
Other assets	—		33,955
Total assets held for sale	$	66,009	$	174,475
LIABILITIES
Reserve for loss and loss adjustment expenses	$	65,320	$	76,521
Accrued expenses and other liabilities	689		79,440
Total liabilities held for sale	$	66,009	$	155,961



	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2019			2018			2019			2018
Gross premiums written	$	—		$	132,710		$	—		$	362,022
Net premiums written	$	—		$	124,560		$	—		$	351,242
Net premiums earned	$	—		$	162,958		$	—		$	331,577
Other revenue	—			—			62			—
Net investment income	—			10,053			—			20,054
Net loss and loss adjustment expenses	6,363			(121,553		)	6,363			(241,671		)
Commission and other acquisition expenses	—			(35,965		)	—			(77,951		)
General and administrative expenses	(815		)	(4,714		)	(1,832		)	(8,993		)
Amortization of intangible assets	—			(462		)	—			(924		)
Income from discontinued operations before income taxes	5,548			10,317			4,593			22,092
Loss on disposal of discontinued operations	(23,077		)	—			(25,474		)	—
Income tax expense	(1,169		)	(2,102		)	(1,169		)	(3,882		)
(Loss) income from discontinued operations, net of income tax	$	(18,698	)	$	8,215		$	(22,050	)	$	18,210

- 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.

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+ Details

Long-Term Debt (Tables)

6 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

Schedule of outstanding senior notes issuances

The following table details the Company's Senior Notes issuances outstanding at June 30, 2019 and December 31, 2018:



June 30, 2019	2016 Senior Notes			2013 Senior Notes			Total
Principal amount	$	110,000		$	152,500		$	262,500
Less: unamortized issuance costs	3,588			4,112			7,700
Carrying value	$	106,412		$	148,388		$	254,800

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

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			Dec 1, 2018
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.

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+ Details

Earnings per Common Share (Tables)

6 Months Ended

Jun. 30, 2019

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 Three Months Ended June 30,	2019			2018
Numerator:
Net income (loss) from continuing operations	$	3,285		$	(5,535	)
Net income from continuing operations attributable to noncontrolling interests	—			(47		)
Net income (loss) attributable to Maiden from continuing operations	3,285			(5,582		)
Dividends on preference shares – Series A, C and D	—			(8,546		)
Amount allocated to participating common shareholders⁽¹⁾	—			(4		)
Income (loss) attributable to Maiden common shareholders, before discontinued operations	3,285			(14,132		)
(Loss) income from discontinued operations, net of income tax expense	(18,698		)	8,215
Numerator for basic and diluted EPS - net loss allocated to Maiden common shareholders	$	(15,413	)	$	(5,917	)
Denominator:
Weighted average number of common shares – basic	83,058,123			83,126,204
Potentially dilutive securities:
Share options and restricted share units	17,033			—
Adjusted weighted average number of common shares – diluted	83,075,156			83,126,204
Basic and diluted earnings (loss) from continuing operations per share - Maiden common shareholders	$	0.04		$	(0.17	)
Basic and diluted (loss) earnings from discontinued operations per share - Maiden common shareholders	(0.23		)	0.10
Basic and diluted loss per share attributable to Maiden common shareholders:	$	(0.19	)	$	(0.07	)

11. Earnings per Common Share (continued)



For the Six Months Ended June 30,	2019			2018
Numerator:
Net (loss) income from continuing operations	$	(29,999	)	$	6,813
Net income from continuing operations attributable to noncontrolling interests	—			(118		)
Net (loss) income attributable to Maiden from continuing operations	(29,999		)	6,695
Dividends on preference shares – Series A, C and D	—			(17,091		)
Amount allocated to participating common shareholders⁽¹⁾	—			(9		)
Loss attributable to Maiden common shareholders, before discontinued operations	(29,999		)	(10,405		)
(Loss) income from discontinued operations, net of income tax expense	(22,050		)	18,210
Net (loss) income allocated to Maiden common shareholders	$	(52,049	)	$	7,805
Denominator:
Weighted average number of common shares – basic and diluted	83,008,888			83,083,545
Basic and diluted loss from continuing operations per share attributable to Maiden common shareholders	$	(0.36	)	$	(0.13	)
Basic and diluted (loss) earnings from discontinued operations per share attributable to Maiden common shareholders	(0.27		)	0.22
Basic and diluted (loss) earnings per share attributable to Maiden common shareholders:	$	(0.63	)	$	0.09


(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.

(2)

Please refer to "Note 14. Shareholders' Equity" and "Note 15. Share Compensation and Pension Plans" of the Notes to Consolidated Financial Statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2018, for the terms and conditions of each of these anti-dilutive instruments.

Basis of Presentation (Details) - USD ($) $ in Thousands			12 Months Ended
Basis of Presentation (Details) - USD ($) $ in Thousands	Jan. 18, 2019	Dec. 27, 2018	Dec. 31, 2018	Jun. 30, 2019	Aug. 29, 2018	Jun. 30, 2018	Dec. 31, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Intercompany proceeds	$ 70,000		$ 125,000
Loss and loss adjustment expenses			$ 3,055,976	$ 3,051,265		$ 2,541,975	$ 2,386,722
Renewal Rights Sale \| Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds of sale					$ 7,500
Maiden US Sale \| Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds of sale		$ 286,375
Maximum \| Maiden Reinsurance North America, Inc. Sale \| Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Reinsurance payable		25,000
Maiden Reinsurance Ltd. \| Maiden Reinsurance North America, Inc. Sale \| Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ceded premiums payable		12,250
Loss and loss adjustment expenses						$ 100,000
Cavello Bay Reinsurance Limited \| Maiden Reinsurance North America, Inc. Sale \| Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ceded commission paid		$ 1,750

Segment Information - Net Income (Loss) and Total Assets (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019 USD ($)	Jun. 30, 2018 USD ($)	Jun. 30, 2019 USD ($) Segment	Jun. 30, 2018 USD ($)	Dec. 31, 2018 USD ($)
Segment Reporting Information [Line Items]
Number of reporting segments \| Segment			2
Net Income (Loss) [Abstract]
Gross premiums written	$ 2,117	$ 521,526	$ (559,022)	$ 1,144,854
Net premiums written	(409)	521,028	(561,939)	1,143,679
Net premiums earned	133,986	504,388	317,088	1,021,201
Other insurance revenue	754	2,033	1,504	5,759
Net loss and loss adjustment expenses (loss and LAE)	(121,561)	(370,001)	(274,250)	(723,207)
Commission and other acquisition expenses	(49,656)	(162,780)	(119,273)	(329,408)
General and administrative expenses	(2,654)	(5,675)	(6,951)	(11,076)
Underwriting income (loss)	(39,131)	(32,035)	(81,882)	(36,731)
Reconciliation to net income from continuing operations
Net investment income and realized gains on investment	55,208	33,846	76,129	67,072
Interest and amortization expenses	(4,830)	(4,829)	(9,659)	(9,658)
Foreign exchange and other gains	1,207	4,821	6,186	2,414
Other general and administrative expenses	(10,195)	(9,185)	(21,837)	(19,455)
Income tax benefit	1,026	1,847	1,064	3,171
Net income (loss) from continuing operations	$ 3,285	$ (5,535)	$ (29,999)	$ 6,813
Net loss and LAE ratio	90.20%	73.10%	86.10%	70.40%
Commission and other acquisition expense ratio	36.90%	32.10%	37.50%	32.10%
General and administrative expense ratio	9.50%	2.90%	9.00%	3.00%
Expense ratio	46.40%	35.00%	46.50%	35.10%
Combined ratio	136.60%	108.10%	132.60%	105.50%
Assets [Abstract]
Assets held for sale	$ 66,009		$ 66,009		$ 174,475
Total assets	4,598,556		4,598,556		5,287,460
Operating segments
Assets [Abstract]
Total assets - reportable segments	3,900,786		3,900,786		4,686,177
Corporate assets	631,761		631,761		426,808
Assets held for sale	66,009		66,009		174,475
Total assets	4,598,556		4,598,556		5,287,460
Operating segments \| Diversified Reinsurance
Net Income (Loss) [Abstract]
Gross premiums written	11,244	$ 30,041	26,582	$ 79,441
Net premiums written	8,718	29,717	23,665	77,988
Net premiums earned	22,472	28,539	47,764	54,054
Other insurance revenue	754	2,033	1,504	5,759
Net loss and loss adjustment expenses (loss and LAE)	(12,497)	(16,165)	(26,888)	(32,064)
Commission and other acquisition expenses	(8,147)	(9,988)	(17,408)	(19,300)
General and administrative expenses	(2,092)	(4,593)	(5,123)	(9,074)
Underwriting income (loss)	$ 490	$ (174)	$ (151)	$ (625)
Reconciliation to net income from continuing operations
Net loss and LAE ratio	53.80%	52.90%	54.60%	53.60%
Commission and other acquisition expense ratio	35.10%	32.70%	35.30%	32.20%
General and administrative expense ratio	9.00%	15.00%	10.40%	15.20%
Expense ratio	44.10%	47.70%	45.70%	47.40%
Combined ratio	97.90%	100.60%	100.30%	101.00%
Assets [Abstract]
Total assets - reportable segments	$ 180,370		$ 180,370		190,437
Corporate assets	0		0		0
Assets held for sale	0		0		0
Total assets	180,370		180,370		190,437
Operating segments \| AmTrust Reinsurance
Net Income (Loss) [Abstract]
Gross premiums written	(9,127)	$ 491,485	(585,604)	$ 1,065,413
Net premiums written	(9,127)	491,311	(585,604)	1,065,691
Net premiums earned	111,514	475,849	269,324	967,147
Other insurance revenue	0	0	0	0
Net loss and loss adjustment expenses (loss and LAE)	(109,088)	(353,836)	(247,158)	(691,143)
Commission and other acquisition expenses	(41,509)	(152,792)	(101,865)	(310,108)
General and administrative expenses	(562)	(1,082)	(1,828)	(2,002)
Underwriting income (loss)	$ (39,645)	$ (31,861)	$ (81,527)	$ (36,106)
Reconciliation to net income from continuing operations
Net loss and LAE ratio	97.80%	74.40%	91.80%	71.40%
Commission and other acquisition expense ratio	37.20%	32.10%	37.80%	32.10%
General and administrative expense ratio	0.50%	0.20%	0.70%	0.20%
Expense ratio	37.70%	32.30%	38.50%	32.30%
Combined ratio	135.50%	106.70%	130.30%	103.70%
Assets [Abstract]
Total assets - reportable segments	$ 3,720,416		$ 3,720,416		4,495,740
Corporate assets	0		0		0
Assets held for sale	0		0		0
Total assets	3,720,416		3,720,416		$ 4,495,740
Other
Net Income (Loss) [Abstract]
Gross premiums written	0	$ 0	0	$ 0
Net premiums written	0	0	0	0
Net premiums earned	0	0	0	0
Other insurance revenue	0	0	0	0
Net loss and loss adjustment expenses (loss and LAE)	24	0	(204)	0
Commission and other acquisition expenses	0	0	0	0
General and administrative expenses	0	0	0	0
Underwriting income (loss)	$ 24	$ 0	$ (204)	$ 0

Segment Information - Net Premiums (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Segment Reporting, Revenue Reconciling Item [Line Items]
Net premiums written	$ (409)	$ 521,028	$ (561,939)	$ 1,143,679
Net premiums earned	133,986	504,388	317,088	1,021,201
Operating segments \| Diversified Reinsurance
Segment Reporting, Revenue Reconciling Item [Line Items]
Net premiums written	8,718	29,717	23,665	77,988
Net premiums earned	22,472	28,539	47,764	54,054
Operating segments \| Diversified Reinsurance \| International
Segment Reporting, Revenue Reconciling Item [Line Items]
Net premiums written	8,718	29,717	23,665	77,947
Net premiums earned	22,472	28,539	47,764	54,013
Operating segments \| Diversified Reinsurance \| Other
Segment Reporting, Revenue Reconciling Item [Line Items]
Net premiums written			0	41
Net premiums earned	0	0	0	41
Operating segments \| AmTrust Reinsurance
Segment Reporting, Revenue Reconciling Item [Line Items]
Net premiums written	(9,127)	491,311	(585,604)	1,065,691
Net premiums earned	111,514	475,849	269,324	967,147
Operating segments \| AmTrust Reinsurance \| Small Commercial Business
Segment Reporting, Revenue Reconciling Item [Line Items]
Net premiums written	5,515	279,486	(337,166)	647,240
Net premiums earned	23,283	293,514	62,738	609,223
Operating segments \| AmTrust Reinsurance \| Specialty Program
Segment Reporting, Revenue Reconciling Item [Line Items]
Net premiums written	(16,031)	103,196	(28,639)	192,327
Net premiums earned	30,326	96,739	106,547	185,233
Operating segments \| AmTrust Reinsurance \| Specialty Risk and Extended Warranty
Segment Reporting, Revenue Reconciling Item [Line Items]
Net premiums written	1,389	108,629	(219,799)	226,124
Net premiums earned	$ 57,905	$ 85,596	$ 100,039	$ 172,691

Investments - Schedule of Investments Reconciliation (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Jun. 30, 2019	Dec. 31, 2018
Schedule of Investments [Line Items]
Total AFS fixed maturities, Original or amortized cost		$ 2,942,207	$ 3,109,980
Fixed Maturities, available-for-sale, Gross unrealized gains			10,995
Fixed Maturities, available-for-sale, Gross unrealized losses			(69,407)
AFS fixed maturities		2,971,598	3,051,568
Fixed Maturities, held-to-maturity, Original or amortized cost		0	1,015,681
Fixed Maturities, held-to-maturity, Gross unrealized gains			3,872
Fixed Maturities, held-to-maturity, Gross unrealized losses			(21,541)
Fixed maturities, held-to-maturity, fair value			998,012
Investments, Original or Amortized Cost Basis		2,942,207	4,125,661
Investments, Gross Unrealized Gains		48,707	14,867
Investments, Gross Unrealized Losses		(19,316)	(90,948)
Investments, Fair Value		2,971,598	4,049,580
Carrying value of held-to-maturity securities at the time of transfer	$ 1,011,878
Held-to-maturity securities transferred to available-for-sale securities, unrealized gain	$ 14,230
U.S. treasury bonds
Schedule of Investments [Line Items]
Total AFS fixed maturities, Original or amortized cost		365,953	138,625
Fixed Maturities, available-for-sale, Gross unrealized gains		1,153	448
Fixed Maturities, available-for-sale, Gross unrealized losses		(3)	(1)
AFS fixed maturities		367,103	139,072
U.S. agency bonds – mortgage-backed
Schedule of Investments [Line Items]
Total AFS fixed maturities, Original or amortized cost		950,301	1,485,716
Fixed Maturities, available-for-sale, Gross unrealized gains		9,299	3,491
Fixed Maturities, available-for-sale, Gross unrealized losses		(3,203)	(36,073)
AFS fixed maturities		956,397	1,453,134
U.S. agency bonds – other
Schedule of Investments [Line Items]
Total AFS fixed maturities, Original or amortized cost		51,875	129,741
Fixed Maturities, available-for-sale, Gross unrealized gains		4	40
Fixed Maturities, available-for-sale, Gross unrealized losses		(1)	(548)
AFS fixed maturities		51,878	129,233
Non-U.S. government and supranational bonds
Schedule of Investments [Line Items]
Total AFS fixed maturities, Original or amortized cost		29,321	11,212
Fixed Maturities, available-for-sale, Gross unrealized gains		313	66
Fixed Maturities, available-for-sale, Gross unrealized losses		(298)	(1,206)
AFS fixed maturities		29,336	10,072
Asset-backed securities
Schedule of Investments [Line Items]
Total AFS fixed maturities, Original or amortized cost		220,938	216,072
Fixed Maturities, available-for-sale, Gross unrealized gains		681	425
Fixed Maturities, available-for-sale, Gross unrealized losses		(553)	(1,415)
AFS fixed maturities		221,066	215,082
Corporate bonds
Schedule of Investments [Line Items]
Total AFS fixed maturities, Original or amortized cost		1,310,870	1,128,614
Fixed Maturities, available-for-sale, Gross unrealized gains		37,115	6,525
Fixed Maturities, available-for-sale, Gross unrealized losses		(15,258)	(30,164)
AFS fixed maturities		1,332,727	1,104,975
Fixed Maturities, held-to-maturity, Original or amortized cost			957,845
Fixed Maturities, held-to-maturity, Gross unrealized gains			3,872
Fixed Maturities, held-to-maturity, Gross unrealized losses			(20,990)
Fixed maturities, held-to-maturity, fair value			940,727
Municipal bonds
Schedule of Investments [Line Items]
Total AFS fixed maturities, Original or amortized cost		12,949
Fixed Maturities, available-for-sale, Gross unrealized gains		142
Fixed Maturities, available-for-sale, Gross unrealized losses		0
AFS fixed maturities		$ 13,091
Fixed Maturities, held-to-maturity, Original or amortized cost			57,836
Fixed Maturities, held-to-maturity, Gross unrealized gains			0
Fixed Maturities, held-to-maturity, Gross unrealized losses			(551)
Fixed maturities, held-to-maturity, fair value			$ 57,285

Investments - Contractual Maturities (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
AFS fixed maturities, Amortized cost
Due in one year or less	$ 403,428
Due after one year through five years	791,633
Due after five years through ten years	575,907
Total before securities without single maturities, Amortized cost	1,770,968
Total AFS fixed maturities, Original or amortized cost	2,942,207	$ 3,109,980
AFS fixed maturities, Fair value
Due in one year or less	402,136
Due after one year through five years	798,539
Due after five years through ten years	593,460
Total before securities without single maturities, Fair value	1,794,135
Total AFS fixed maturities, Fair value	2,971,598	3,051,568
U.S. agency bonds – mortgage-backed
AFS fixed maturities, Amortized cost
Amortized cost of securities without single maturities	950,301
Total AFS fixed maturities, Original or amortized cost	950,301	1,485,716
AFS fixed maturities, Fair value
Fair value of securities without single maturities	956,397
Total AFS fixed maturities, Fair value	956,397	1,453,134
Asset-backed securities
AFS fixed maturities, Amortized cost
Amortized cost of securities without single maturities	220,938
Total AFS fixed maturities, Original or amortized cost	220,938	216,072
AFS fixed maturities, Fair value
Fair value of securities without single maturities	221,066
Total AFS fixed maturities, Fair value	$ 221,066	$ 215,082

Investments - Fair Value and Unrealized Losses (Details) $ in Thousands	Jun. 30, 2019 USD ($) security	Dec. 31, 2018 USD ($) security
Fixed maturities, Fair value
Less than 12 Months, Fair value	$ 434,310	$ 1,595,079
12 Months or More, Fair value	512,594	1,188,564
Total, Fair value	946,904	2,783,643
Fixed maturities, Unrealized losses
Less than 12 months, Unrealized losses	(1,186)	(38,695)
12 months or more, Unrealized losses	(18,130)	(52,253)
Total, Unrealized losses	$ (19,316)	$ (90,948)
Number of securities in an unrealized loss position \| security	131	348
Investments fair value	$ 946,904	$ 2,783,643
Investments, unrealized losses	$ (19,316)	$ (90,948)
Number of securities in an unrealized loss position for 12 months or greater \| security	84	103
Investments fair value, unrealized loss position for 12 months or greater	$ 512,594	$ 1,188,564
Investments in unrealized loss position for 12 months or greater, unrealized losses	(18,130)	(52,253)
U.S. treasury bonds
Fixed maturities, Fair value
Less than 12 Months, Fair value	249,954	125
12 Months or More, Fair value	0	0
Total, Fair value	249,954	125
Fixed maturities, Unrealized losses
Less than 12 months, Unrealized losses	(3)	(1)
12 months or more, Unrealized losses	0	0
Total, Unrealized losses	(3)	(1)
U.S. agency bonds – mortgage-backed
Fixed maturities, Fair value
Less than 12 Months, Fair value	10,461	416,147
12 Months or More, Fair value	281,302	838,091
Total, Fair value	291,763	1,254,238
Fixed maturities, Unrealized losses
Less than 12 months, Unrealized losses	(52)	(6,624)
12 months or more, Unrealized losses	(3,151)	(29,449)
Total, Unrealized losses	(3,203)	(36,073)
U.S. agency bonds – other
Fixed maturities, Fair value
Less than 12 Months, Fair value	49,988	26,838
12 Months or More, Fair value	0	17,462
Total, Fair value	49,988	44,300
Fixed maturities, Unrealized losses
Less than 12 months, Unrealized losses	(1)	(27)
12 months or more, Unrealized losses	0	(521)
Total, Unrealized losses	(1)	(548)
Non-U.S. government and supranational bonds
Fixed maturities, Fair value
Less than 12 Months, Fair value	14,126	4,024
12 Months or More, Fair value	7,789	3,770
Total, Fair value	21,915	7,794
Fixed maturities, Unrealized losses
Less than 12 months, Unrealized losses	(181)	(252)
12 months or more, Unrealized losses	(117)	(954)
Total, Unrealized losses	(298)	(1,206)
Asset-backed securities
Fixed maturities, Fair value
Less than 12 Months, Fair value	83,560	74,801
12 Months or More, Fair value	9,266	5,793
Total, Fair value	92,826	80,594
Fixed maturities, Unrealized losses
Less than 12 months, Unrealized losses	(419)	(1,196)
12 months or more, Unrealized losses	(134)	(219)
Total, Unrealized losses	(553)	(1,415)
Corporate bonds
Fixed maturities, Fair value
Less than 12 Months, Fair value	26,221	1,052,765
12 Months or More, Fair value	214,237	286,542
Total, Fair value	240,458	1,339,307
Fixed maturities, Unrealized losses
Less than 12 months, Unrealized losses	(530)	(30,334)
12 months or more, Unrealized losses	(14,728)	(20,820)
Total, Unrealized losses	$ (15,258)	(51,154)
Municipal bonds
Fixed maturities, Fair value
Less than 12 Months, Fair value		20,379
12 Months or More, Fair value		36,906
Total, Fair value		57,285
Fixed maturities, Unrealized losses
Less than 12 months, Unrealized losses		(261)
12 months or more, Unrealized losses		(290)
Total, Unrealized losses		$ (551)

Investments - Credit Ratings (Details) - USD ($)	3 Months Ended		6 Months Ended
Investments - Credit Ratings (Details) - USD ($)	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Schedule of Fixed Maturities Table [Line Items]
Total other-than-temporary impairment losses	$ 0	$ 0	$ 0	$ 0
Fixed Maturities, Amortized cost	2,942,207,000		2,942,207,000		$ 4,125,661,000
Fixed Maturities, Fair value	$ 2,971,598,000		$ 2,971,598,000		$ 4,049,580,000
Fixed maturities, % of Total fair value	100.00%		100.00%		100.00%
AAA
Schedule of Fixed Maturities Table [Line Items]
Fixed Maturities, Amortized cost	$ 117,628,000		$ 117,628,000		$ 137,172,000
Fixed Maturities, Fair value	$ 117,891,000		$ 117,891,000		$ 135,119,000
Fixed maturities, % of Total fair value	4.00%		4.00%		3.30%
AA Plus, AA, AA Minus
Schedule of Fixed Maturities Table [Line Items]
Fixed Maturities, Amortized cost	$ 154,929,000		$ 154,929,000		$ 183,142,000
Fixed Maturities, Fair value	$ 156,037,000		$ 156,037,000		$ 178,674,000
Fixed maturities, % of Total fair value	5.20%		5.20%		4.40%
A Plus, A, A Minus
Schedule of Fixed Maturities Table [Line Items]
Fixed Maturities, Amortized cost	$ 784,152,000		$ 784,152,000		$ 1,132,993,000
Fixed Maturities, Fair value	$ 800,009,000		$ 800,009,000		$ 1,113,710,000
Fixed maturities, % of Total fair value	26.90%		26.90%		27.50%
BBB Plus, BBB, BBB Minus
Schedule of Fixed Maturities Table [Line Items]
Fixed Maturities, Amortized cost	$ 491,469,000		$ 491,469,000		$ 866,043,000
Fixed Maturities, Fair value	$ 496,589,000		$ 496,589,000		$ 848,348,000
Fixed maturities, % of Total fair value	16.70%		16.70%		21.00%
BB Plus or Lower
Schedule of Fixed Maturities Table [Line Items]
Fixed Maturities, Amortized cost	$ 25,900,000		$ 25,900,000		$ 52,229,000
Fixed Maturities, Fair value	$ 25,694,000		$ 25,694,000		$ 52,290,000
Fixed maturities, % of Total fair value	0.90%		0.90%		1.30%
U.S. treasury bonds
Schedule of Fixed Maturities Table [Line Items]
Fixed Maturities, Amortized cost	$ 365,953,000		$ 365,953,000		$ 138,625,000
Fixed Maturities, Fair value	$ 367,103,000		$ 367,103,000		$ 139,072,000
Fixed maturities, % of Total fair value	12.40%		12.40%		3.40%
U.S. agency bonds
Schedule of Fixed Maturities Table [Line Items]
Fixed Maturities, Amortized cost	$ 1,002,176,000		$ 1,002,176,000		$ 1,615,457,000
Fixed Maturities, Fair value	$ 1,008,275,000		$ 1,008,275,000		$ 1,582,367,000
Fixed maturities, % of Total fair value	33.90%		33.90%		39.10%

Investments - Other Investments (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Schedule of Investments [Line Items]
Fair value	$ 28,431	$ 23,716
% of Total fair value	100.00%	100.00%
Investment in limited partnerships
Schedule of Investments [Line Items]
Fair value	$ 3,258	$ 3,833
% of Total fair value	11.50%	16.20%
Unfunded commitment on investments in limited partnerships	$ 340	$ 414
Investment in special purpose vehicles focused on lending activities
Schedule of Investments [Line Items]
Fair value	$ 23,373	$ 18,383
% of Total fair value	82.20%	77.50%
Unfunded commitment on investments in limited partnerships	$ 3,516	$ 7,359
Other investments
Schedule of Investments [Line Items]
Fair value	$ 1,800	$ 1,500
% of Total fair value	6.30%	6.30%

Investments - Net Investment Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Schedule of Investments [Line Items]
Investment income	$ 31,849	$ 35,333	$ 64,703	$ 69,316
Investment expenses	(727)	(1,073)	(1,559)	(2,187)
Net investment income	31,122	34,260	63,144	67,129
Fixed maturities
Schedule of Investments [Line Items]
Investment income	23,522	32,914	49,742	65,042
Funds withheld interest
Schedule of Investments [Line Items]
Investment income	5,169	54	9,706	113
Loan to related party
Schedule of Investments [Line Items]
Investment income	1,842	1,565	3,664	2,993
Cash and cash equivalents and other
Schedule of Investments [Line Items]
Investment income	$ 1,316	$ 800	$ 1,591	$ 1,168

Investments - Net Realized and Unrealized Gains (Losses) on Investment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Gain (Loss) on Securities [Line Items]
Other investments, gross gains		$ 220
Other investments, gross losses		0
Other investments, net		220
Net realized gains (losses) on investment, gross gains	$ 25,587	2,507	$ 28,011	$ 4,641
Net realized gains (losses) on investment, gross losses	1,501	2,921	15,026	4,698
Net realized gains (losses) on investment, net	24,086	(414)	12,985	(57)
Proceeds from sales of fixed maturities classified as available-for-sale	625,254	36,315	709,615	116,555
Deferred income tax	(114)		(114)		$ (33)
Net unrealized gains (losses), net of deferred income tax	29,278		29,278		(59,762)
Change, net of deferred income tax			89,040		(81,651)
Fixed maturities
Gain (Loss) on Securities [Line Items]
AFS fixed maturities, gross gains	25,436	2,287	27,860	2,939
AFS fixed maturities, gross losses	1,501	2,921	14,881	4,698
AFS fixed maturities, net	23,935	$ (634)	12,979	(1,759)
Other Debt Obligations
Gain (Loss) on Securities [Line Items]
Other investments, gross gains	151		151	1,702
Other investments, gross losses	0		145	0
Other investments, net	151		6	$ 1,702
Available-for-sale securities \| Fixed maturities
Gain (Loss) on Securities [Line Items]
Net unrealized gains (losses)	$ 29,392		$ 29,392		$ (59,729)

Investments - Restricted Cash and Cash Equivalents and Investments (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018
Restricted Cash and Investments Items [Line Items]
Restricted cash	$ 381,698	$ 130,148	$ 130,259
Restricted investments	2,492,232	3,893,811
Restricted cash and investments	2,873,930	4,023,959
Liability for investments purchased	298,939	0
Amortized cost	2,942,207	4,125,661
Third party agreements
Restricted Cash and Investments Items [Line Items]
Restricted cash	21,299	21,420
Restricted investments	69,999	89,596
Amortized cost	69,855	88,841
Related party agreements
Restricted Cash and Investments Items [Line Items]
Restricted cash	360,399	108,728
Restricted investments	2,689,179	3,804,215
Amortized cost	2,655,683	3,870,731
Investments Purchased for Related Party Agreements
Restricted Cash and Investments Items [Line Items]
Restricted investments – liability for investments purchased for related party agreements	$ (266,946)	$ 0

Fair Value of Financial Instruments - Fair Value of Financial Instruments (Details) - Significant Other Observable Inputs (Level 2) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets	$ 0	$ 1,015,681
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%
Carrying Value \| Held-to-maturity securities \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets	$ 0	$ 957,845
Carrying Value \| Held-to-maturity securities \| Municipal bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets	0	57,836
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets	0	998,012
Financial Liabilities	199,903	219,200
Fair Value \| Senior Notes \| Senior Notes - MHLA – 6.625%
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Liabilities	70,400	75,240
Fair Value \| Senior Notes \| Senior Notes - MHNC – 7.75%
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Liabilities	129,503	143,960
Fair Value \| Held-to-maturity securities \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets	0	940,727
Fair Value \| Held-to-maturity securities \| Municipal bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets	$ 0	$ 57,285

Discontinued Operations - Balance Sheet Disclosures (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
ASSETS
Total assets held for sale	$ 66,009	$ 174,475
LIABILITIES
Total liabilities held for sale	66,009	155,961
Maiden Reinsurance North America, Inc. Sale \| Discontinued Operations, Held-for-sale
ASSETS
Fixed maturities, available-for-sale, at fair value	0	63,560
Restricted cash and cash equivalents	0	6,113
Reinsurance balances receivable, net	689	689
Reinsurance recoverable on unpaid losses	65,320	70,158
Other assets	0	33,955
Total assets held for sale	66,009	174,475
LIABILITIES
Reserve for loss and loss adjustment expenses	65,320	76,521
Accrued expenses and other liabilities	689	79,440
Total liabilities held for sale	$ 66,009	$ 155,961

Discontinued Operations - Income Statement Disclosures (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
(Loss) income from discontinued operations, net of income tax	$ (18,698)	$ 8,215	$ (22,050)	$ 18,210
Maiden US Sale \| Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net loss on disposal of discontinued operation	16,715		16,715
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	0	132,710	0	362,022
Net premiums written	0	124,560	0	351,242
Net premiums earned	0	162,958	0	331,577
Other revenue	0	0	62	0
Net investment income	0	10,053	0	20,054
Net loss and loss adjustment expenses	6,363	(121,553)	6,363	(241,671)
Commission and other acquisition expenses	0	(35,965)	0	(77,951)
General and administrative expenses	(815)	(4,714)	(1,832)	(8,993)
Amortization of intangible assets	0	(462)	0	(924)
Income from discontinued operations before income taxes	5,548	10,317	4,593	22,092
Loss on disposal of discontinued operations	(23,077)	0	(25,474)	0
Income tax expense	(1,169)	(2,102)	(1,169)	(3,882)
(Loss) income from discontinued operations, net of income tax	$ (18,698)	$ 8,215	$ (22,050)	$ 18,210

Long-Term Debt - Schedule of Outstanding Senior Notes Issuances (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Less: unamortized issuance costs	$ 7,700,000	$ 7,806,000
Senior notes, net	254,800,000	254,694,000
Senior Notes
Debt Instrument [Line Items]
Principal amount	262,500,000	262,500,000
Less: unamortized issuance costs	7,700,000	7,806,000
Senior notes, net	254,800,000	254,694,000
Senior Notes \| 2016 Senior Notes
Debt Instrument [Line Items]
Principal amount	110,000,000	110,000,000
Less: unamortized issuance costs	3,588,000	3,610,000
Senior notes, net	106,412,000	106,390,000
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	152,500,000
Less: unamortized issuance costs	4,112,000	4,196,000
Senior notes, net	148,388,000	$ 148,304,000
Original debt issuance costs	$ 5,054,000
Coupon rate	7.75%
Effective interest rate	8.04%

Long-Term Debt - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Debt Instrument [Line Items]
Interest expense	$ 4,830	$ 4,829	$ 9,659	$ 9,658
Senior Notes
Debt Instrument [Line Items]
Interest expense	4,777	4,776	9,553	9,553
Accrued interest	1,342		1,342		$ 1,342
Amortization expense, debt issuance costs	$ 53	$ 53	$ 106	$ 105
2013 Senior Notes \| Senior Notes
Debt Instrument [Line Items]
Redemption price, percentage			100.00%
Minimum \| 2013 Senior Notes \| Senior Notes
Debt Instrument [Line Items]
Prior notice to be given before redemption date			30 days
Maximum \| 2013 Senior Notes \| Senior Notes
Debt Instrument [Line Items]
Prior notice to be given before redemption date			60 days

Related Party Transactions - Narrative and AmTrust (Details) $ in Thousands												1 Months Ended		3 Months Ended		6 Months Ended
	Jan. 24, 2019	Jan. 11, 2019 USD ($)	Jan. 01, 2019 USD ($)	Dec. 31, 2018 USD ($)	Jul. 01, 2018	Jan. 01, 2018	Jul. 01, 2016	Jan. 01, 2012 EUR (€)	Apr. 01, 2011 EUR (€)	Jun. 11, 2008	Jul. 01, 2007	Jan. 31, 2019 USD ($)	Jan. 31, 2019 EUR (€)	Jun. 30, 2019 USD ($)	Jun. 30, 2018 USD ($)	Jun. 30, 2019 USD ($)	Jun. 30, 2018 USD ($)	Dec. 18, 2017
Related Party Transaction [Line Items]
Loan to related party				$ 167,975										$ 167,975		$ 167,975
Leah Karfunkel
Related Party Transaction [Line Items]
Noncontrolling interest, ownership percentage														8.00%		8.00%
Leah Karfunkel \| National General Holdings Corp.
Related Party Transaction [Line Items]
Noncontrolling interest, ownership percentage														39.40%		39.40%
Barry Zyskind
Related Party Transaction [Line Items]
Noncontrolling interest, ownership percentage														7.50%		7.50%
George Karfunkel, less than 5% ownership
Related Party Transaction [Line Items]
Noncontrolling interest, ownership percentage														5.00%		5.00%
Founding shareholders \| AmTrust Financial Services, Inc.
Related Party Transaction [Line Items]
Controlling interest, ownership percentage														53.60%		53.60%
AmTrust Financial Services, Inc. \| London Interbank Offered Rate (LIBOR)
Related Party Transaction [Line Items]
Basis spread on variable rate																		2.00%
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%						40.00%
Commission rate, percent of ceded written premiums										34.375%	31.00%
AmTrust Financial Services, Inc. \| AmTrust Quota Share Reinsurance Agreement \| Returned Gross Unearned Premiums
Related Party Transaction [Line Items]
Related party transaction amount			$ (647,980)
AmTrust Financial Services, Inc. \| AmTrust Quota Share Reinsurance Agreement \| Returned Gross Unearned Premiums \| AmTrust International Insurance, Ltd. (AII)
Related Party Transaction [Line Items]
Related party transaction amount														$ 43,240
AmTrust Financial Services, Inc. \| AmTrust Quota Share Reinsurance Agreement \| Returned Unearned Premiums, Net
Related Party Transaction [Line Items]
Related party transaction amount												$ (436,760)
AmTrust Financial Services, Inc. \| AmTrust Quota Share Reinsurance Agreement \| Cash And Investments Transferred Due To Unearned Premiums
Related Party Transaction [Line Items]
Related party transaction amount												(480,000)
AmTrust Financial Services, Inc. \| AmTrust Quota Share Reinsurance Agreement \| Funds Withheld Arrangement
Related Party Transaction [Line Items]
Related party transaction amount		$ (575,000)														$ 575,000
Interest income from related party														5,017		9,443
Accrued interest on collateral held by related party														5,017		5,017
Interest rate		3.50%
AmTrust Financial Services, Inc. \| AmTrust Quota Share Reinsurance Agreement \| AmTrust Quota Shares Reinsurance Agreement, Partial Termination Amendment
Related Party Transaction [Line Items]
Percent of ceding commission payable, period increase				5.00%
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. \| 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, percentage							32.50%		40.00%
Maximum limit of liability attaching (in EUR) \| €								€ 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, percentage							20.00%
AmTrust Financial Services, Inc. \| Reinsurer Trust Assets Collateral Agreement
Related Party Transaction [Line Items]
Collateral held by related party				$ 3,650,418										2,521,158		2,521,158
Accrued interest on collateral held by related party				23,283										13,203		13,203
AmTrust Financial Services, Inc. \| Reinsurance Brokerage Agreements
Related Party Transaction [Line Items]
Brokerage fee, percent of premium assumed											1.25%
Cancellation notice period											30 days
AmTrust Financial Services, Inc. \| Reinsurance Brokerage Agreements \| Brokerage expense
Related Party Transaction [Line Items]
Expenses recorded from related party transactions														1,398	$ 5,966	3,375	$ 12,263
Balances due to related party				14,199										3,502		3,502
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						0.02125%					0.0375%
AmTrust Financial Services, Inc. \| Asset Management Agreement \| Investment Management Fee
Related Party Transaction [Line Items]
Expenses recorded from related party transactions														$ 678	$ 1,033	$ 1,453	$ 2,082
AmTrust Financial Services, Inc. \| National General Holdings Corp.
Related Party Transaction [Line Items]
Noncontrolling interest, ownership percentage														1.50%		1.50%
AEL \| AmTrust Quota Share Reinsurance Agreement
Related Party Transaction [Line Items]
Percentage ceded					20.00%
AEL \| AmTrust European Hospital Liability Quota Share Agreement
Related Party Transaction [Line Items]
Collateral held by related party				249,948										$ 248,878		$ 248,878
Accrued interest on collateral held by related party				$ 1,976										2,022		2,022
AmTrust International Underwriters DAC (AIU) \| AmTrust European Hospital Liability Quota Share Agreement \| Collateral Provided For Share Under Quota Share Agreement
Related Party Transaction [Line Items]
Related party transaction amount												$ (51,244)	€ (45,113,000)			58,123
Interest income from related party														$ 72		125
Interest rate	0.50%
AmTrust International Underwriters DAC (AIU) \| AmTrust European Hospital Liability Quota Share Agreement \| Accrued Interest On Collateral Provided For Share Under Quota Share Agreement
Related Party Transaction [Line Items]
Related party transaction amount																$ 127

Related Party Transactions - Schedule of AmTrust Quota Share Arrangement (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Related Party Transaction [Line Items]
Gross premiums written	$ 2,117	$ 521,526	$ (559,022)	$ 1,144,854
Net premiums earned	133,986	504,388	317,088	1,021,201
Net loss and loss adjustment expenses (loss and LAE)	(121,561)	(370,001)	(274,250)	(723,207)
Commission expenses	(49,656)	(162,780)	(119,273)	(329,408)
Quota Share Reinsurance Agreements \| AmTrust Financial Services, Inc.
Related Party Transaction [Line Items]
Gross premiums written	(9,127)	491,485
Net premiums earned	111,833	477,202	269,963	981,001
Net loss and loss adjustment expenses (loss and LAE)	(109,091)	(351,954)	(247,035)	(696,483)
Commission expenses	$ (40,111)	$ (148,500)	$ (98,490)	$ (304,350)

- Definition

Amount of amortization expense (reversal of expense) for deferred policy acquisition costs.

+ References + Details

Reserve for Loss and Loss Adjustment Expenses (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018	Jun. 30, 2019	Dec. 31, 2018
Insurance [Abstract]
Reserve for reported loss and LAE						$ 1,533,380,000	$ 1,571,217,000
Reserve for losses incurred but not reported (IBNR)						1,517,885,000	1,484,759,000
Reserve for loss and LAE	$ 3,051,265,000	$ 2,541,975,000	$ 3,055,976,000	$ 2,386,722,000	$ 3,055,976,000	$ 3,051,265,000	$ 3,055,976,000
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Gross loss and LAE reserves, January 1			3,055,976,000	2,386,722,000	2,386,722,000
Less: reinsurance recoverable on unpaid losses, January 1			1,743,000	24,883,000	24,883,000
Net loss and LAE reserves, January 1			3,054,233,000	2,361,839,000	2,361,839,000
Net incurred losses related to Current year			240,978,000	685,229,000
Net incurred losses related to Prior years			33,272,000	37,978,000
Net loss and loss adjustment expenses	121,561,000	370,001,000	274,250,000	723,207,000
Net paid losses related to Current year			(3,186,000)	(151,527,000)
Net paid losses related to Prior years			(272,136,000)	(401,039,000)
Net paid losses			(275,322,000)	(552,566,000)
Effect of foreign exchange rate movements			(3,880,000)	(12,308,000)
Net loss and LAE reserves, June 30	3,049,281,000	2,520,172,000	3,049,281,000	2,520,172,000	3,054,233,000
Reinsurance recoverable on unpaid losses, June 30	1,984,000	21,803,000	1,984,000	21,803,000	1,743,000
Gross loss and LAE reserves, June 30	3,051,265,000	2,541,975,000	3,051,265,000	2,541,975,000	3,055,976,000
Segment Reporting Information [Line Items]
Net adverse prior year development (net favorable prior year reserve development)	26,014,000	28,193,000	(33,272,000)	37,978,000
Other
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Net loss and loss adjustment expenses	(24,000)	0	204,000	0
Segment Reporting Information [Line Items]
Net adverse prior year development (net favorable prior year reserve development)	(24,000)		204,000		$ 0
Diversified Reinsurance
Segment Reporting Information [Line Items]
Net adverse prior year development (net favorable prior year reserve development)	(1,052,000)	(181,000)	(2,148,000)	1,085,000
AmTrust Reinsurance
Segment Reporting Information [Line Items]
Net adverse prior year development (net favorable prior year reserve development)	$ 27,090,000	$ 28,374,000	$ 35,216,000	$ (36,893,000)

Commitments and Contingencies (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Operating lease, weighted average discount rate	10.00%		10.00%
Operating lease, weighted average remaining lease term (in years)	3 years		3 years
Lease liability	$ 2,878		$ 2,878
Lease cost	389		810
Lease cost		$ 516		$ 1,131
Operating cash outflows from operating leases	$ 340		$ 681

Commitments and Contingencies - Scheduled Maturity of Operating Lease Liabilities Under Topic 842 (Details) $ in Thousands	Jun. 30, 2019 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Remainder of 2019	$ 669
2020	1,171
2021	741
2022	741
Discount for present value	(444)
Total discounted operating lease liabilities	$ 2,878

Commitments and Contingencies - Future Minimum Lease Payments Under Non-Cancellable Operating Leases Under Topic 840 (Details) $ in Thousands	Dec. 31, 2018 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2019	$ 1,442
2020	1,228
2021	772
2022	750
Total	$ 4,192

Earnings per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Numerator:
Net income (loss) from continuing operations	$ 3,285	$ (5,535)	$ (29,999)	$ 6,813
Net income from continuing operations attributable to noncontrolling interests	0	(47)	0	(118)
Net income (loss) attributable to Maiden from continuing operations	3,285	(5,582)	(29,999)	6,695
Dividends on preference shares – Series A, C and D	0	(8,546)	0	(17,091)
Amount allocated to participating common shareholders	0	(4)	0	(9)
Income (loss) attributable to Maiden common shareholders, before discontinued operations	3,285	(14,132)	(29,999)	(10,405)
(Loss) income from discontinued operations, net of income tax expense	(18,698)	8,215	(22,050)	18,210
Numerator for basic and diluted EPS - net loss allocated to Maiden common shareholders	$ (15,413)	$ (5,917)
Net (loss) income allocated to Maiden common shareholders			$ (52,049)	$ 7,805
Denominator:
Weighted average number of common shares - basic (in shares)	83,058,123	83,126,204	83,008,888	83,083,545
Weighted average number of common shares – basic and diluted (in shares)			83,008,888	83,083,545
Potentially dilutive securities:
Share options and restricted share units (in shares)	17,033	0
Adjusted weighted average number of common shares – diluted (in shares)	83,075,156	83,126,204	83,008,888	83,083,545
Basic (loss) from continuing operations per share attributable to Maiden common shareholders (in dollars per share)	$ 0.04	$ (0.17)	$ (0.36)	$ (0.13)
Basic and diluted (loss) earnings from discontinued operations per share attributable to Maiden common shareholders (in dollars per share)	(0.23)	0.10	(0.27)	0.22
Basic and diluted (loss) earnings per share attributable to Maiden common shareholders (in dollars per share)	$ (0.19)	$ (0.07)	$ (0.63)	$ 0.09
Preference shares - Series A, C and D
Numerator:
Dividends on preference shares – Series A, C and D	$ 0	$ (8,546)	$ 0	$ (17,091)
Employee Stock Option and Restricted Stock Units
Potentially dilutive securities:
Anti-dilutive share options excluded from the calculation of diluted earnings per common share (in shares)			518,029	571,143

Shareholders' Equity - Narrative (Details) - $ / shares	6 Months Ended	12 Months Ended
Shareholders' Equity - Narrative (Details) - $ / shares	Jun. 30, 2019	Dec. 31, 2018
Stockholders' Equity Note [Abstract]
Common stock, shares authorized (in shares)	150,000,000
Common stock, shares issued (in shares)	88,079,315	87,938,537
Common stock, shares outstanding (in shares)	83,066,135	82,948,577
Preference shares issued (in shares)	18,600,000
Undesignated shares (in shares)	43,320,685
Shares repurchased for tax withholding (in shares)	23,220	29,391
Shares repurchased for tax withholding, price per share (in dollars per share)	$ 0.78	$ 6.57

Shareholders' Equity - AOCI Components (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance			$ 554,916
Other comprehensive income (loss), after tax	$ 21,372	$ (34,073)	86,846	$ (110,331)
Ending balance	590,572	1,106,294	590,572	1,106,294
Change in net unrealized gains on investments, including portion attributable to noncontrolling interest
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	1,714	(46,429)	(59,762)	21,889
Other comprehensive income (loss) before reclassifications	42,979	(50,423)	91,967	(117,251)
Amounts reclassified from AOCI to net income, net of tax	(15,415)	745	(2,927)	(745)
Other comprehensive income (loss), after tax	27,564	(49,678)	89,040	(117,996)
Ending balance		(96,107)		(96,107)
Foreign currency translation adjustments, including portion attributable to noncontrolling interest
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(1,934)	(16,523)	(5,932)	(8,583)
Other comprehensive income (loss) before reclassifications	(6,192)	15,605	(2,194)	7,665
Amounts reclassified from AOCI to net income, net of tax	0	0	0	0
Other comprehensive income (loss), after tax	(6,192)	15,605	(2,194)	7,665
Ending balance		(918)		(918)
AOCI including portion attributable to noncontrolling interest
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(220)	(62,952)	(65,694)	13,306
Other comprehensive income (loss) before reclassifications	36,787	(34,818)	89,773	(109,586)
Amounts reclassified from AOCI to net income, net of tax	(15,415)	745	(2,927)	(745)
Other comprehensive income (loss), after tax	21,372	(34,073)	86,846	(110,331)
Ending balance		(97,025)		(97,025)
Change in net unrealized gains on investment attributable to noncontrolling interest
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Ending balance		0		0
Foreign currency translation adjustments attributable to noncontrolling interest
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Ending balance		(66)		(66)
AOCI attributable to noncontrolling interest
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Ending balance		(66)		(66)
Change in net unrealized gains on investments, attributable to Maiden shareholders
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Ending balance	29,278	(96,107)	29,278	(96,107)
Foreign currency translation adjustments, attributable to Maiden shareholders
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Ending balance	(8,126)	(852)	(8,126)	(852)
AOCI attributable to Maiden shareholders
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(220)	(62,915)	(65,616)	13,354
Ending balance	$ 21,152	$ (96,959)	$ 21,152	$ (96,959)

Subsequent Events (Details) - USD ($) $ in Thousands					3 Months Ended	6 Months Ended	7 Months Ended
Subsequent Events (Details) - USD ($) $ in Thousands	Aug. 12, 2019	Jul. 31, 2019	Jul. 01, 2018	Jul. 01, 2007	Jun. 30, 2019	Jun. 30, 2019	Aug. 12, 2019	Dec. 27, 2018
Subsequent Event
Subsequent Event [Line Items]
Quota share reinsurance agreement, excess retention		$ 2,178,535
Quota share reinsurance agreement, amount retained		600,000
Quota share reinsurance agreement, retrocession premium		445,000
Reinsurance adverse development cover		155,000
Reinsurance cumulative ceded losses (exceeding)		445,000
Quota share reinsurance agreement, retrocession premium, interest rate							2.64%
Maximum \| Subsequent Event
Subsequent Event [Line Items]
Reinsurance covered losses (not to exceed)		$ 312,786
Forecast \| Subsequent Event
Subsequent Event [Line Items]
Quota share reinsurance agreement, retrocession premium, interest	$ 7,261
Maiden US Sale \| Discontinued Operations, Disposed of by Sale
Subsequent Event [Line Items]
Proceeds of sale								$ 286,375
Net loss on disposal of discontinued operation					$ 16,715	$ 16,715
AmTrust Financial Services, Inc. \| AmTrust Quota Share Reinsurance Agreement
Subsequent Event [Line Items]
Percent of losses with respect to current lines of business, excluding those above covered business threshold to related party			40.00%	40.00%
AmTrust Financial Services, Inc. \| AmTrust Quota Share Reinsurance Agreement \| Subsequent Event
Subsequent Event [Line Items]
Percent of losses with respect to current lines of business, excluding those above covered business threshold to related party		40.00%
Commutation And Release Agreement, Commutation Payment \| AmTrust Financial Services, Inc. \| AmTrust Quota Share Reinsurance Agreement \| Subsequent Event
Subsequent Event [Line Items]
Related party transaction amount		$ 312,786
Commutation And Release Agreement, Net Ceded Reserves \| AmTrust Financial Services, Inc. \| AmTrust Quota Share Reinsurance Agreement \| Subsequent Event
Subsequent Event [Line Items]
Related party transaction amount		330,682
Commutation And Release Agreement, Commutation Payment Paid By Entity \| AmTrust Financial Services, Inc. \| AmTrust Quota Share Reinsurance Agreement \| Subsequent Event
Subsequent Event [Line Items]
Related party transaction amount		$ 17,896
Commutation And Release Agreement, Commutation Payment, Premium Interest \| AmTrust Financial Services, Inc. \| AmTrust Quota Share Reinsurance Agreement \| Forecast \| Subsequent Event
Subsequent Event [Line Items]
Interest expense with related party	$ 6,335
Calculated interest rate with related party							3.30%
Post-Termination Endorsement \| AmTrust Financial Services, Inc. \| AmTrust Quota Share Reinsurance Agreement \| Subsequent Event
Subsequent Event [Line Items]
Percentage of required funding on obligations with related party		105.00%
Post-Termination Endorsement \| AmTrust Financial Services, Inc. \| AmTrust Quota Share Reinsurance Agreement \| Maximum \| Subsequent Event
Subsequent Event [Line Items]
Percentage of required funding on obligations with related party		110.00%
Post-Termination Endorsement, Minimum Excess Funding Requirement \| AmTrust Financial Services, Inc. \| AmTrust Quota Share Reinsurance Agreement \| Subsequent Event
Subsequent Event [Line Items]
Related party transaction amount		$ 54,000
Post-Termination Endorsement, Maximum Loss Corridor \| AmTrust Financial Services, Inc. \| AmTrust Quota Share Reinsurance Agreement \| Subsequent Event
Subsequent Event [Line Items]
Related party transaction amount		$ 40,500

Related Party Transactions - NGHC (Details) - National General Holdings Corp. - NGHC Quota Share	Mar. 01, 2010
Related Party Transaction [Line Items]
Percent participation in quota share by subsidiary	50.00%
Percentage of net premiums received on personal lines automobile business	25.00%
Percent of net losses related to premiums of personal lines business assumed by reinsurers	25.00%