Maiden Holdings plunges 30%+ after big loss

|About: Maiden Hldgs Ltd (MHLD)|By:, SA News Editor

The company after the close on Friday announced a big $2.38 per share loss for Q3. Included was an adverse loss development of $210.4M in the AmTrust reinsurance segment vs. $61.1M a year earlier. The company agreed to a loss portfolio transfer of $2.675B of reinsurance contracts with AmTrust to Enstar, resulting in a charge of $74.2M for the write-off of goodwill and intangible assets.

Insurance Insider reports Catalina as no longer interested in bidding for the company.

Previously: Maiden Holdings EPS of -$2.83 (Nov. 9)

MHLD -31.8% for the session.

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