Unassociated Document
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 12, 2011
MAIDEN HOLDINGS, LTD.
(Exact name of registrant as specified in its charter)
Bermuda
(State or other jurisdiction
of incorporation)
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001-34042
(Commission File
Number)
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98-0570192
(IRS Employer
Identification No.)
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131 Front Street, Hamilton HM12, Bermuda
(Address of principal executive offices and zip code)
(441) 292-7090
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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On July 12, 2011, Maiden Holdings, Ltd. (the “Company”) issued a press release announcing the anticipated net underwriting impact of losses during the second quarter due to the unusual frequency of thunderstorm and tornado activity across the United States. The Company announced that the anticipated underwriter impact in the second quarter, net of the Company’s quarterly provision for normalized catastrophe losses, totals approximately $9.5 million. A copy of the press release is hereby filed with the Securities and Commission and incorporated by reference herein as Exhibit 99.1.
Forward Looking Statements
This report contains "forward-looking statements" which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements are based on the Company's current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that actual developments will be those anticipated by the Company. Actual results may differ materially from those projected as a result of significant risks and uncertainties, including non-receipt of the expected payments, changes in interest rates, effect of the performance of financial markets on investment income and fair values of investments, developments of claims and the effect on loss reserves, accuracy in projecting loss reserves, the impact of competition and pricing environments, changes in the demand for the Company's products, the effect of general economic conditions, adverse state and federal legislation, regulations and regulatory investigations into industry practices, challenges inherent in international operations, developments relating to existing agreements, heightened competition, changes in pricing environments, and changes in asset valuations. Additional information about these risks and uncertainties, as well as others that may cause actual results to differ materially from those projected is contained in Item 1A. Risk Factors in the Company's Annual Report on Form 10-K for the year ended December 31, 2010 as updated in periodic filings with the SEC.
Item 9.01
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Financial Statements and Exhibits.
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Exhibit
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No.
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Description
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99.1
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Press Release of Maiden Holdings, Ltd., dated July 12, 2011.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: July 15, 2011
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MAIDEN HOLDINGS, LTD.
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By:
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/s/ Lawrence F. Metz
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Lawrence F. Metz
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Senior Vice President, General Counsel and Secretary
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EXHIBIT INDEX
Exhibit
99.1
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Press Release of Maiden Holdings, Ltd., dated July 12, 2011.
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Unassociated Document
Maiden Holdings, Ltd. Comments on Net Underwriting Impact From Second Quarter U.S. Storm Activity
HAMILTON, Bermuda, July 12, 2011 (GLOBE NEWSWIRE) -- Maiden Holdings, Ltd. (Nasdaq:MHLD), in response to the unusual frequency of thunderstorm and tornado activity across the U.S. in the second quarter, has completed a detailed evaluation of the net expected impact of known or anticipated property losses on underwriting performance. While Maiden with its lower volatility business model is not a catastrophe-oriented reinsurer, the unusually high frequency of loss activity has impacted many of our clients in the south and Midwest areas of the U.S. Maiden has interacted with clients with potential exposure to these events and worked with those clients to identify known and anticipated losses. The anticipated underwriting impact in the second quarter, net of the company's quarterly provision for normalized catastrophe losses, totals approximately $9.5 million. None of the anticipated second quarter loss activity is related to the large global catastrophes of the first quarter of 2011.
About Maiden Holdings, Ltd.
Maiden Holdings, Ltd. is a Bermuda-based holding company formed in 2007. Through our subsidiaries, which are each A- rated (excellent) by A.M. Best, we are focused on providing non-catastrophic, customized reinsurance products and services to small and mid-size insurance companies in the United States and Europe. As of March 31, 2011, Maiden had $3.1 billion in assets and shareholders' equity of $769.7 million.
The Maiden Holdings, Ltd. logo is available at http: //www.globenewswire.com/newsroom/prs/?pkgid=5006
Forward Looking Statements
This release contains "forward-looking statements" which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements are based on the Company's current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that actual developments will be those anticipated by the Company. Actual results may differ materially from those projected as a result of significant risks and uncertainties, including non-receipt of the expected payments, changes in interest rates, effect of the performance of financial markets on investment income and fair values of investments, developments of claims and the effect on loss reserves, accuracy in projecting loss reserves, the impact of competition and pricing environments, changes in the demand for the Company's products, the effect of general economic conditions, adverse state and federal legislation, regulations and regulatory investigations into industry practices, developments relating to existing agreements, heightened competition, changes in pricing environments, and changes in asset valuations. Additional information about these risks and uncertainties, as well as others that may cause actual results to differ materially from those projected is contained in Item 1A. Risk Factors in the Company's Annual Report on Form 10-K for the year ended December 31, 2010 as updated in periodic filings with the SEC. The Company undertakes no obligation to publicly update any forward-looking statements, except as may be required by law.
CONTACT:
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Maiden Holdings, Ltd.
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John Marshaleck
Schroders House
131 Front Street, 2nd Floor
Hamilton, HM 11 Bermuda
441.298.4902