2019 Form 10-K Financial Statement

#000141210020000008 Filed on March 18, 2020

View on sec.gov

Income Statement

Concept 2019 2018 Q4 2018
Revenue $576.1M $515.1M $2.165B
YoY Change -73.39% -0.76% 1.22%
Cost Of Revenue $452.8M $1.880B
YoY Change -75.91% 20.87%
Gross Profit $123.3M $284.7M
YoY Change -56.69% -51.2%
Gross Profit Margin 21.4% 13.15%
Selling, General & Admin $47.20M $174.3M $719.7M
YoY Change -93.44% 1.99% 3.29%
% of Gross Profit 38.28% 252.8%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $169.8M $1.400M $654.7M
YoY Change -74.07% -1500.0% 1.7%
% of Gross Profit 137.67% 229.99%
Operating Expenses $11.77M $730.9M $21.24M
YoY Change -44.6% 14.98% 11.63%
Operating Profit $111.5M $263.4M
YoY Change -57.66% -53.32%
Interest Expense -$16.60M -$2.200M -$14.90M
YoY Change 11.41% -71.05% -60.99%
% of Operating Profit -14.88% -5.66%
Other Income/Expense, Net $0.00 $0.00
YoY Change -100.0%
Pretax Income -$110.3M -$218.0M -$449.9M
YoY Change -75.49% 74.96% 191.34%
Income Tax -$911.0K $1.400M $441.0K
% Of Pretax Income
Net Earnings -$131.9M -$269.2M -$544.6M
YoY Change -75.78% 101.54% 220.56%
Net Earnings / Revenue -22.89% -52.27% -25.16%
Basic Earnings Per Share -$3.25 -$6.87
Diluted Earnings Per Share -$1.587M -$3.25 -$6.87
COMMON SHARES
Basic Shares Outstanding 83.06M shares 82.94M shares 83.05M shares
Diluted Shares Outstanding 83.06M shares 83.05M shares

Balance Sheet

Concept 2019 2018 Q4 2018
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $48.20M $200.8M $200.8M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $2.300M
YoY Change
Goodwill $0.00
YoY Change -100.0%
Intangibles $0.00
YoY Change -100.0%
Long-Term Investments $2.035B $4.259B $4.259B
YoY Change -52.21% 7.01% 7.01%
Other Assets $59.10M $304.6M $304.6M
YoY Change -80.6% -84.14% -84.14%
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $3.568B $5.287B $5.288B
YoY Change -32.52% -20.42% -20.42%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $32.40M $65.50M $65.50M
YoY Change -50.53% -27.3% -27.3%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $32.40M $65.50M $65.50M
YoY Change -50.53% -27.3% -27.3%
LONG-TERM LIABILITIES
Long-Term Debt $254.9M $254.7M $254.7M
YoY Change 0.08% 0.08% 0.08%
Other Long-Term Liabilities $113.0M $156.0M $156.0M
YoY Change -27.56% -89.24% -89.24%
Total Long-Term Liabilities $367.9M $410.7M $410.7M
YoY Change -10.42% -75.9% -75.9%
TOTAL LIABILITIES
Total Short-Term Liabilities $32.40M $65.50M $65.50M
Total Long-Term Liabilities $367.9M $410.7M $410.7M
Total Liabilities $3.061B $4.733B $4.733B
YoY Change -35.34% -12.55% -12.54%
SHAREHOLDERS EQUITY
Retained Earnings -$563.9M
YoY Change -1689.68%
Common Stock $879.0K
YoY Change 0.23%
Preferred Stock
YoY Change
Treasury Stock (at cost) $31.52M
YoY Change 2.85%
Treasury Stock Shares 4.990M shares
Shareholders Equity $507.7M $554.3M $554.3M
YoY Change
Total Liabilities & Shareholders Equity $3.568B $5.287B $5.288B
YoY Change -32.52% -20.42% -20.42%

Cashflow Statement

Concept 2019 2018 Q4 2018
OPERATING ACTIVITIES
Net Income -$131.9M -$269.2M -$544.6M
YoY Change -75.78% 101.54% 220.56%
Depreciation, Depletion And Amortization $169.8M $1.400M $654.7M
YoY Change -74.07% -1500.0% 1.7%
Cash From Operating Activities -$1.143B $13.60M $182.3M
YoY Change -726.81% -67.31% -60.25%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$3.242M $5.700M $2.063M
YoY Change -257.15% -103.26% -51.8%
Cash From Investing Activities $913.2M $5.700M $32.90M
YoY Change 2675.7% -103.26% -109.14%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $18.00K $842.0K
YoY Change -97.86% -96.57%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$18.00K -4.100M -$68.03M
YoY Change -99.97% -87.19% 12.6%
NET CHANGE
Cash From Operating Activities -$1.143B 13.60M $182.3M
Cash From Investing Activities $913.2M 5.700M $32.90M
Cash From Financing Activities -$18.00K -4.100M -$68.03M
Net Change In Cash -$229.8M 15.20M $145.6M
YoY Change -257.85% -109.2% 246.93%
FREE CASH FLOW
Cash From Operating Activities -$1.143B $13.60M $182.3M
Capital Expenditures
Free Cash Flow
YoY Change

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Organization<div style="line-height:100%;padding-bottom:8px;text-align:justify;text-indent:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Maiden Holdings, Ltd. (sometimes referred to as "Maiden Holdings" or "Parent Company") is a Bermuda-based holding company. Together with its subsidiaries (collectively referred to as the "Company", "We" or "Maiden"), Maiden previously focused on serving the needs of regional and specialty insurers in the United States of America ("U.S."), Europe and select other global markets. The Company operates internationally through Maiden Global Holdings, Ltd. ("Maiden Global") providing branded auto and credit life insurance products through insurer partners to retail clients in the EU and other global markets. These products also produce reinsurance programs which are underwritten by Maiden Reinsurance Ltd. ("Maiden Reinsurance"). Maiden Reinsurance does not underwrite any direct insurance business. Certain international credit life business is written on a primary basis by Maiden Life Försäkrings AB ("Maiden LF") and general insurance business is written on a primary basis by Maiden General Försäkrings AB ("Maiden GF"). We are not presently actively underwriting reinsurance business. We are also running off the liabilities associated with AmTrust Financial Services, Inc. ("AmTrust") contracts we terminated in early 2019 as discussed below.</span></div><div style="line-height:100%;padding-bottom:8px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Strategic Review</span></div><div style="line-height:100%;padding-bottom:8px;text-align:justify;text-indent:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Since 2018, we have engaged in a series of strategic measures that have dramatically reduced the required regulatory capital needed to operate our business, materially strengthened our solvency ratios, re-domiciled Maiden Reinsurance to Vermont in the U.S. and ceased active reinsurance underwriting. During that time, we significantly increased our estimate of ultimate losses and loss reserves while purchasing reinsurance protection against further loss reserve volatility and as a result, have improved the ultimate economic value of the Company. We believe these measures have given the Company the ability to more flexibly allocate capital to those activities most likely to produce the greatest returns for shareholders. </span></div><div style="line-height:100%;padding-bottom:8px;text-align:justify;text-indent:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The measures we ultimately have taken were initiated in early 2018, when our Board of Directors initiated a review of strategic alternatives (the "Strategic Review") to evaluate ways to increase shareholder value after a period of continuing higher than targeted combined ratios and lower returns on equity than planned.</span></div><div style="line-height:100%;padding-bottom:8px;text-align:justify;text-indent:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In addition, as of December 31, 2018, both the Company and its subsidiary Maiden Reinsurance 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. </span></div><div style="line-height:100%;padding-bottom:8px;text-align:justify;text-indent:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">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 Reinsurance's shareholders, Maiden Holdings and Maiden Holdings North America, Ltd. ("Maiden NA"), made capital injections of </span><span style="font-family:inherit;font-size:10pt;"><span>$125,000</span></span><span style="font-family:inherit;font-size:10pt;"> on December 31, 2018 and </span><span style="font-family:inherit;font-size:10pt;"><span>$70,000</span></span><span style="font-family:inherit;font-size:10pt;"> on January 18, 2019 to Maiden Reinsurance from the sale proceeds of Maiden US; (3) entered into a partial termination amendment ("Partial Termination Amendment") with AmTrust effective January 1, 2019 which amended the quota share reinsurance agreement (“AmTrust Quota Share”) between Maiden Reinsurance and AmTrust’s wholly owned subsidiary AmTrust International Insurance, Ltd. (“AII”) (as more fully described in </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">"Note 8 - Reinsurance"</span><span style="font-family:inherit;font-size:10pt;">); (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 (these transactions are broadly referred to herein as the "Final AmTrust QS Terminations"); (5) entered into the Loss Portfolio Transfer and Adverse Development Cover Agreement ("LPT/ADC Agreement") with Enstar Group Limited ("Enstar') pursuant to the revised Master Transaction Agreement entered into on March 1, 2019; and (6) entered into a Commutation and Release Agreement with AmTrust to commute certain workers' compensation business with AII as of January 1, 2019.</span></div><div style="line-height:100%;padding-bottom:8px;text-align:justify;text-indent:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">As a result of the completion of these steps, both the Company and Maiden Reinsurance have sufficient capital in excess of the respective ECR requirements. Please see below for additional details regarding the LPT/ADC Agreement and the Commutation and Release Agreement.</span></div><div style="line-height:100%;padding-bottom:8px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Discontinued Operations</span><span style="font-family:inherit;font-size:10pt;"> </span></div><div style="line-height:100%;padding-bottom:8px;text-align:justify;text-indent:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company made the strategic decision to divest its U.S. treaty reinsurance operations through the sale of Maiden US 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. </span></div><div style="line-height:100%;padding-bottom:8px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Sale of U.S. treaty reinsurance operations</span></div><div style="line-height:100%;padding-bottom:8px;text-align:justify;text-indent:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The sale of the U.S. treaty reinsurance business occurred in two parts:</span></div><div style="line-height:100%;padding-bottom:8px;text-align:justify;text-indent:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(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. </span></div><div style="line-height:100%;padding-bottom:8px;text-align:justify;text-indent:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The payment received for the sale of the Renewal Rights was </span><span style="font-family:inherit;font-size:10pt;"><span>$7,500</span></span><span style="font-family:inherit;font-size:10pt;"> subject to potential additional amounts payable in the future in accordance with the agreement, however no additional fees have been recognized to date. </span></div><div style="line-height:100%;padding-bottom:8px;text-align:justify;text-indent:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:100%;padding-bottom:8px;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">1. Organization (continued)</span></div><div style="line-height:100%;padding-bottom:8px;text-align:justify;text-indent:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(b) On December 27, 2018, the Company completed its sale agreement ("U.S. Sale Agreement") with Enstar Holdings (US) LLC ("Enstar U.S."), pursuant to which Maiden NA sold Maiden US to Enstar U.S. Pursuant to and subject to the terms of the U.S. Sale Agreement: (i) Maiden NA sold, and Enstar U.S. purchased, all of the outstanding common shares of Maiden US (“Maiden US Sale”) for gross consideration of </span><span style="font-family:inherit;font-size:10pt;"><span>$286,375</span></span><span style="font-family:inherit;font-size:10pt;">; (ii) Cavello Bay Reinsurance Limited ("Cavello"), Enstar’s Bermuda reinsurance affiliate, and Maiden Reinsurance entered into an agreement pursuant to which certain quota share reinsurance contracts between Maiden US and Maiden Reinsurance were novated to Cavello for a ceding commission Maiden Reinsurance of </span><span style="font-family:inherit;font-size:10pt;"><span>$12,250</span></span><span style="font-family:inherit;font-size:10pt;">; (iii) Cavello and Maiden Reinsurance also entered into a retrocession agreement pursuant to which certain assets and liabilities associated with the Company’s U.S. treaty reinsurance business held by Maiden Reinsurance were retroceded to Cavello in exchange for a </span><span style="font-family:inherit;font-size:10pt;"><span>$1,750</span></span><span style="font-family:inherit;font-size:10pt;"> ceding commission; and (iv) Maiden Reinsurance provided Enstar with a reinsurance cover for loss reserve development, up to a maximum of </span><span style="font-family:inherit;font-size:10pt;"><span>$25,000</span></span><span style="font-family:inherit;font-size:10pt;">, when losses are more than </span><span style="font-family:inherit;font-size:10pt;"><span>$100,000</span></span><span style="font-family:inherit;font-size:10pt;"> in excess of the net loss and loss adjustment expenses recorded as of June 30, 2018, for no additional consideration.</span></div><div style="line-height:100%;padding-bottom:8px;text-align:justify;text-indent:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">As discussed above, Maiden NA completed the sale of Maiden US to Enstar U.S. for gross consideration of </span><span style="font-family:inherit;font-size:10pt;"><span>$286,375</span></span><span style="font-family:inherit;font-size:10pt;">, which was subject to certain post-closing adjustments. In conjunction with the completion of the LPT/ADC Agreement discussed below, on July 31, 2019, Maiden NA and Enstar U.S. waived the post-closing adjustments set forth in the U.S. Sale Agreement and agreed to terminate the </span><span style="font-family:inherit;font-size:10pt;"><span>$25,000</span></span><span style="font-family:inherit;font-size:10pt;"> excess of loss reinsurance agreement that Maiden Reinsurance provided to Enstar in relation to the Maiden US loss reserves acquired by Enstar. As a result of these agreements, Maiden recorded a net additional loss from discontinued operations of </span><span style="font-family:inherit;font-size:10pt;"><span>$16,714</span></span><span style="font-family:inherit;font-size:10pt;"> for the year ended </span><span style="font-family:inherit;font-size:10pt;">December 31, 2019</span><span style="font-family:inherit;font-size:10pt;">.</span></div><div style="line-height:100%;padding-bottom:8px;text-align:justify;text-indent:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">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 were 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 "</span><span style="font-family:inherit;font-size:10pt;font-style:italic;">Note 2. Significant Accounting Policies</span><span style="font-family:inherit;font-size:10pt;">" and "</span><span style="font-family:inherit;font-size:10pt;font-style:italic;">Note 6. Discontinued Operations</span><span style="font-family:inherit;font-size:10pt;">" for additional information regarding the effect of the reclassifications on the Company's Consolidated Financial Statements. </span></div><div style="line-height:100%;padding-bottom:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;"> LPT/ADC Agreement with Enstar</span></div><div style="line-height:100%;padding-bottom:8px;text-align:justify;text-indent:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Pursuant to the LPT/ADC Agreement dated as of July 31, 2019 and effective as of January 1, 2019 entered into between Maiden Reinsurance and Cavello, Cavello assumed the loss reserves as of </span><span style="font-family:inherit;font-size:10pt;">December 31, 2018</span><span style="font-family:inherit;font-size:10pt;"> associated with the AmTrust Quota Share in excess of a </span><span style="font-family:inherit;font-size:10pt;"><span>$2,178,535</span></span><span style="font-family:inherit;font-size:10pt;"> retention up to </span><span style="font-family:inherit;font-size:10pt;"><span>$600,000</span></span><span style="font-family:inherit;font-size:10pt;">, in exchange for a retrocession premium of </span><span style="font-family:inherit;font-size:10pt;"><span>$445,000</span></span><span style="font-family:inherit;font-size:10pt;">. The </span><span style="font-family:inherit;font-size:10pt;"><span>$2,178,535</span></span><span style="font-family:inherit;font-size:10pt;"> retention is subject to adjustment for paid losses subsequent to </span><span style="font-family:inherit;font-size:10pt;">December 31, 2018</span><span style="font-family:inherit;font-size:10pt;">. </span></div><div style="line-height:100%;padding-bottom:8px;text-align:justify;text-indent:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The LPT/ADC Agreement provides Maiden Reinsurance with </span><span style="font-family:inherit;font-size:10pt;"><span>$155,000</span></span><span style="font-family:inherit;font-size:10pt;"> in adverse development cover over its carried AmTrust Quota Share loss reserves at </span><span style="font-family:inherit;font-size:10pt;">December 31, 2018</span><span style="font-family:inherit;font-size:10pt;">. The LPT/ADC Agreement meets the criteria for risk transfer and therefore has been accounted for as retroactive reinsurance. Cumulative ceded losses exceeding </span><span style="font-family:inherit;font-size:10pt;"><span>$445,000</span></span><span style="font-family:inherit;font-size:10pt;"> result in a deferred gain which will be recognized over the settlement period in proportion to cumulative losses collected over the estimated ultimate reinsurance recoverable. Consequently, cumulative adverse development subsequent to </span><span style="font-family:inherit;font-size:10pt;">December 31, 2018</span><span style="font-family:inherit;font-size:10pt;"> may result in significant losses from operations until periods when the deferred gain is recognized as a benefit to earnings. At </span><span style="font-family:inherit;font-size:10pt;">December 31, 2019</span><span style="font-family:inherit;font-size:10pt;">, the deferred gain liability recorded for retroactive reinsurance under the LPT/ADC Agreement was </span><span style="font-family:inherit;font-size:10pt;"><span>$112,950</span></span><span style="font-family:inherit;font-size:10pt;">. Amortization of the deferred gain will not occur until paid losses have exceeded the minimum retention under the LPT/ADC Agreement, which is estimated to be in </span><span style="font-family:inherit;font-size:10pt;">2024</span><span style="font-family:inherit;font-size:10pt;">.</span></div><div style="line-height:100%;padding-bottom:8px;text-align:justify;text-indent:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Under the terms of the LPT/ADC Agreement, the covered losses associated with the commutation with AmTrust, as discussed below in </span><span style="font-family:inherit;font-size:10pt;font-style:italic;"> Commutation and Release Agreement - AmTrust Quota Share, </span><span style="font-family:inherit;font-size:10pt;">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 </span><span style="font-family:inherit;font-size:10pt;"><span>$312,786</span></span><span style="font-family:inherit;font-size:10pt;">.</span></div><div style="line-height:100%;padding-bottom:8px;text-align:justify;text-indent:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Settlement of funding for the LPT/ADC Agreement occurred on </span><span style="font-family:inherit;font-size:10pt;">August 12, 2019</span><span style="font-family:inherit;font-size:10pt;"> and Maiden Reinsurance paid Enstar approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$7,261</span></span><span style="font-family:inherit;font-size:10pt;"> in interest related to the LPT/ADC Agreement premium, calculated at the rate of </span><span style="font-family:inherit;font-size:10pt;"><span>2.64%</span></span><span style="font-family:inherit;font-size:10pt;"> per annum from January 1, 2019 through </span><span style="font-family:inherit;font-size:10pt;">August 12, 2019</span><span style="font-family:inherit;font-size:10pt;">.</span></div><div style="line-height:100%;padding-bottom:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Commutation and Release Agreement - AmTrust Quota Share</span></div><div style="line-height:100%;padding-bottom:8px;text-align:justify;text-indent:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Effective July 31, 2019, Maiden Reinsurance and AII entered into the Commutation and Release Agreement which provided for AII to re-assume all reserves ceded by AII to Maiden Reinsurance with respect to: (a) all losses incurred in Accident Year 2017 and Accident Year 2018 under California workers' compensation policies 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 ("Commuted New York Business" and together with the Commuted California Business "Commuted Business") in exchange for the release and full discharge of Maiden Reinsurance from all of its obligations to AII with respect to the Commuted Business. The Commuted Business excludes any business classified by AII as Specialty Program or Specialty Risk business.</span></div><div style="line-height:100%;padding-bottom:8px;text-align:justify;text-indent:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Maiden Reinsurance transferred cash and invested assets in the amount of </span><span style="font-family:inherit;font-size:10pt;"><span>$312,786</span></span><span style="font-family:inherit;font-size:10pt;"> ("Commutation Payment") which is the sum of the net ceded reserves in the amount of </span><span style="font-family:inherit;font-size:10pt;"><span>$330,682</span></span><span style="font-family:inherit;font-size:10pt;"> with respect to the Commuted Business as of </span><span style="font-family:inherit;font-size:10pt;">December 31, 2018</span><span style="font-family:inherit;font-size:10pt;"> less payments in the amount of </span><span style="font-family:inherit;font-size:10pt;"><span>$17,896</span></span><span style="font-family:inherit;font-size:10pt;"> made by Maiden Reinsurance with respect to the Commuted Business from January 1, 2019 through July 31, 2019. Settlement of the Commutation Payment occurred on </span><span style="font-family:inherit;font-size:10pt;">August 12, 2019</span><span style="font-family:inherit;font-size:10pt;"> and Maiden Reinsurance paid AII approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$6,335</span></span><span style="font-family:inherit;font-size:10pt;"> in interest related to the Commutation Payment premium, calculated at the rate of </span><span style="font-family:inherit;font-size:10pt;"><span>3.30%</span></span><span style="font-family:inherit;font-size:10pt;"> per annum from January 1, 2019 through </span><span style="font-family:inherit;font-size:10pt;">August 12, 2019</span><span style="font-family:inherit;font-size:10pt;">. Maiden Reinsurance received a no objection letter from the BMA regarding the Commutation and Release Agreement.</span></div><div style="line-height:100%;padding-bottom:8px;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">1. Organization (continued)</span></div><div style="line-height:100%;padding-bottom:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Re-domestication of Maiden Reinsurance</span></div><div style="line-height:100%;padding-bottom:8px;text-align:justify;text-indent:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">During the fourth quarter of 2019, our principal operating subsidiary, Maiden Reinsurance, submitted the necessary filings to discontinue its operations from Bermuda and to apply to be licensed and re-domesticate to the State of Vermont in the U.S. Filings were made with the Vermont Department of Financial Regulation ("Vermont DFR"), the Vermont Secretary of State as well as with the BMA to provide notice of the Company's intent to discontinue from Bermuda and re-domesticate to Vermont. Maiden Reinsurance completed the re-domestication to the State of Vermont on March 16, 2020.</span></div><div style="line-height:100%;padding-bottom:8px;text-align:justify;text-indent:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We have determined that re-domiciling Maiden Reinsurance to Vermont will enable us to better align our operations, capital and resources with our liabilities, which originate mostly in the U.S., resulting in a more efficient structure.The re-domestication, in combination with the Strategic Review previously taken and undertaken in close consultation with the BMA to de-risk the Company’s balance sheet, is expected to continue to strengthen the Company’s capital position and solvency ratios. While the Vermont DFR will become the group supervisor for the Company, the re-domestication does not apply to the parent holding company which remains a Bermuda-based holding company. Securities issued by Maiden Holdings are not affected by the re-domestication of Maiden Reinsurance to Vermont.</span></div><div style="line-height:100%;padding-bottom:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Segments </span></div><div style="line-height:100%;padding-bottom:8px;text-align:justify;text-indent:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">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 “</span><span style="font-family:Times New Roman;font-size:10pt;font-style:italic;">Note 3 — Segment Information</span><span style="font-family:inherit;font-size:10pt;">”, 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 Reinsurance 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, which was commuted in November 2019, is included in the "Other" category. Certain prior year comparatives have been reclassified to conform to this new presentation.</span></div>
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125000000 USD
CY2019Q1 mhld Proceeds Form Contributions From Parent And Subsidiaries
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70000000 USD
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2178535000 USD
CY2019Q3 us-gaap Reinsurance Retention Policy Amount Retained
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600000000 USD
CY2019Q3 us-gaap Reinsurance Retention Policy Excess Retention Amount Reinsured
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2178535000 USD
CY2019Q3 mhld Reinsurance Recoverable For Paid And Unpaid Claims And Claims Adjustments Adverse Development Cover
ReinsuranceRecoverableForPaidAndUnpaidClaimsAndClaimsAdjustmentsAdverseDevelopmentCover
155000000 USD
CY2019Q3 mhld Reinsurance Recoverable For Paid And Unpaid Claims And Claims Adjustments Ceded Cumulative Losses
ReinsuranceRecoverableForPaidAndUnpaidClaimsAndClaimsAdjustmentsCededCumulativeLosses
445000000 USD
CY2019Q4 mhld Deferred Gain On Reinsurance
DeferredGainOnReinsurance
112950000 USD
CY2019Q3 mhld Reinsurance Retention Policy Retrocession Premium Interest Amount
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7261000 USD
mhld Reinsurance Retention Policy Retrocession Premium Interest Rate
ReinsuranceRetentionPolicyRetrocessionPremiumInterestRate
0.0264
CY2019 us-gaap Use Of Estimates
UseOfEstimates
<div style="line-height:100%;padding-bottom:8px;text-align:justify;text-indent:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Estimates</span><span style="font-family:inherit;font-size:10pt;"> — The preparation of U.S. GAAP Consolidated Financial Statements requires management to make estimates and assumptions that affect the reported and disclosed amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the Consolidated Financial Statements and the reported amounts of revenues and expenses during the reporting period. Actual results could materially differ from those estimates. The significant estimates include, but are not limited to, reserve for loss and loss adjustment expenses ("loss and LAE") and deferred gain on retroactive reinsurance; recoverability of reinsurance balances receivable, reinsurance recoverable on unpaid losses and deferred commission and other acquisition expenses; valuation of financial instruments and deferred tax assets; and the determination of other-than-temporary impairment ("OTTI") of investments.</span></div>
CY2019Q4 us-gaap Short Term Investments
ShortTermInvestments
0 USD
CY2019Q4 us-gaap Deposit Contracts Liabilities
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0 USD
CY2019Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
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2 Segment
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-528593000 USD
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-531850000 USD
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447762000 USD
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2841000 USD
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452829000 USD
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169760000 USD
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125697000 USD
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165000 USD
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19320000 USD
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2719000 USD
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35451000 USD
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-911000 USD
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-109362000 USD
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1.005
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0.376
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0.105
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2014597000 USD
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2026202000 USD
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5832000 USD
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1.000
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1.000
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17639000 USD
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3109980000 USD
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10995000 USD
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69407000 USD
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3872000 USD
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21541000 USD
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CY2018Q4 us-gaap Debt Securities Available For Sale And Held To Maturity
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CY2019Q4 mhld Fixed Maturities Continuous Unrealized Loss Position Lessthan Twelve Months Fair Value
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824000 USD
CY2019Q4 mhld Fixed Maturities Continuous Unrealized Loss Position Twelve Monthsor Longer Fair Value
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262519000 USD
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16815000 USD
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386299000 USD
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17639000 USD
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104 security
CY2019Q4 mhld Investments Continuous Unrealized Loss Position Fair Value
InvestmentsContinuousUnrealizedLossPositionFairValue
386299000 USD
CY2019Q4 mhld Investments Continuous Unrealized Loss Position Accumulated Loss
InvestmentsContinuousUnrealizedLossPositionAccumulatedLoss
17639000 USD
CY2019Q4 mhld Fixed Securitiesin Unrealized Loss Positions Qualitative Disclosure Numberof Positions Greaterthanor Equalto One Year
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67 security
CY2019Q4 mhld Investments Continuous Unrealized Loss Position Twelve Months Or Longer Fair Value
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262519000 USD
CY2019Q4 mhld Investments Continuous Unrealized Loss Position12 Months Or Longer Aggregate Losses
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16815000 USD
CY2018Q4 mhld Fixed Maturities Continuous Unrealized Loss Position Lessthan Twelve Months Fair Value
FixedMaturitiesContinuousUnrealizedLossPositionLessthanTwelveMonthsFairValue
1595079000 USD
CY2018Q4 mhld Fixed Maturities Continuous Unrealized Loss Position Lessthan12 Months Accumulated Loss
FixedMaturitiesContinuousUnrealizedLossPositionLessthan12MonthsAccumulatedLoss
38695000 USD
CY2018Q4 mhld Fixed Maturities Continuous Unrealized Loss Position Twelve Monthsor Longer Fair Value
FixedMaturitiesContinuousUnrealizedLossPositionTwelveMonthsorLongerFairValue
1188564000 USD
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52253000 USD
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FixedMaturitiesContinuousUnrealizedLossPositionFairValue
2783643000 USD
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FixedMaturitiesContinuousUnrealizedLossPositionAccumulatedLoss
90948000 USD
CY2018Q4 mhld Fixed Securitiesin Unrealized Loss Positions Qualitative Disclosure Numberof Positions
FixedSecuritiesinUnrealizedLossPositionsQualitativeDisclosureNumberofPositions
348 security
CY2018Q4 mhld Investments Continuous Unrealized Loss Position Fair Value
InvestmentsContinuousUnrealizedLossPositionFairValue
2783643000 USD
CY2018Q4 mhld Investments Continuous Unrealized Loss Position Accumulated Loss
InvestmentsContinuousUnrealizedLossPositionAccumulatedLoss
90948000 USD
CY2018Q4 mhld Fixed Securitiesin Unrealized Loss Positions Qualitative Disclosure Numberof Positions Greaterthanor Equalto One Year
FixedSecuritiesinUnrealizedLossPositionsQualitativeDisclosureNumberofPositionsGreaterthanorEqualtoOneYear
103 security
CY2018Q4 mhld Investments Continuous Unrealized Loss Position Twelve Months Or Longer Fair Value
InvestmentsContinuousUnrealizedLossPositionTwelveMonthsOrLongerFairValue
1188564000 USD
CY2018Q4 mhld Investments Continuous Unrealized Loss Position12 Months Or Longer Aggregate Losses
InvestmentsContinuousUnrealizedLossPosition12MonthsOrLongerAggregateLosses
52253000 USD
CY2019 us-gaap Other Than Temporary Impairment Loss Debt Securities Portion Recognized In Earnings
OtherThanTemporaryImpairmentLossDebtSecuritiesPortionRecognizedInEarnings
165000 USD
CY2019Q4 mhld Other Than Temporary Impairment Loss Debt Securities Available For Sale Recognizedin Earnings Number Of Positions
OtherThanTemporaryImpairmentLossDebtSecuritiesAvailableForSaleRecognizedinEarningsNumberOfPositions
1 security
CY2018 us-gaap Other Than Temporary Impairment Loss Debt Securities Portion Recognized In Earnings
OtherThanTemporaryImpairmentLossDebtSecuritiesPortionRecognizedInEarnings
5832000 USD
CY2018Q4 mhld Other Than Temporary Impairment Loss Debt Securities Available For Sale Recognizedin Earnings Number Of Positions
OtherThanTemporaryImpairmentLossDebtSecuritiesAvailableForSaleRecognizedinEarningsNumberOfPositions
72 security
CY2019Q4 mhld Fixed Maturities Amortized Cost Basis
FixedMaturitiesAmortizedCostBasis
1813426000 USD
CY2019Q4 mhld Fixed Maturities Fair Value
FixedMaturitiesFairValue
1835518000 USD
CY2019Q4 mhld Fixed Maturities Percentof Total Fair Value
FixedMaturitiesPercentofTotalFairValue
1.000
CY2018Q4 mhld Fixed Maturities Amortized Cost Basis
FixedMaturitiesAmortizedCostBasis
4125661000 USD
CY2018Q4 mhld Fixed Maturities Fair Value
FixedMaturitiesFairValue
4049580000 USD
CY2018Q4 mhld Fixed Maturities Percentof Total Fair Value
FixedMaturitiesPercentofTotalFairValue
1.000
CY2019Q4 us-gaap Other Investment Not Readily Marketable Fair Value
OtherInvestmentNotReadilyMarketableFairValue
4877000 USD
CY2019Q4 mhld Other Investments Percent Of Total Fair Value
OtherInvestmentsPercentOfTotalFairValue
1.000
CY2018Q4 us-gaap Other Investment Not Readily Marketable Fair Value
OtherInvestmentNotReadilyMarketableFairValue
5333000 USD
CY2018Q4 mhld Other Investments Percent Of Total Fair Value
OtherInvestmentsPercentOfTotalFairValue
1.000
CY2019 us-gaap Investment Income Interest And Dividend
InvestmentIncomeInterestAndDividend
114060000 USD
CY2018 us-gaap Investment Income Interest And Dividend
InvestmentIncomeInterestAndDividend
140634000 USD
CY2019 mhld Investment Income Interest Expense
InvestmentIncomeInterestExpense
13596000 USD
CY2018 mhld Investment Income Interest Expense
InvestmentIncomeInterestExpense
0 USD
CY2019 us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
2627000 USD
CY2018 us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
4349000 USD
CY2019 us-gaap Investment Income Net
InvestmentIncomeNet
97837000 USD
CY2018 us-gaap Investment Income Net
InvestmentIncomeNet
136285000 USD
CY2019Q3 mhld Reinsurance Retention Policy Retrocession Premium Interest Amount
ReinsuranceRetentionPolicyRetrocessionPremiumInterestAmount
7261000 USD
mhld Reinsurance Retention Policy Retrocession Premium Interest Rate
ReinsuranceRetentionPolicyRetrocessionPremiumInterestRate
0.0264
CY2019 mhld Debt And Marketable Securities Realized Gains
DebtAndMarketableSecuritiesRealizedGains
43759000 USD
CY2019 mhld Debt And Marketable Securities Realized Loss
DebtAndMarketableSecuritiesRealizedLoss
15899000 USD
CY2019 mhld Debt And Marketable Securities Realized Gain Loss
DebtAndMarketableSecuritiesRealizedGainLoss
27860000 USD
CY2018 mhld Debt And Marketable Securities Realized Gains
DebtAndMarketableSecuritiesRealizedGains
11589000 USD
CY2018 mhld Debt And Marketable Securities Realized Loss
DebtAndMarketableSecuritiesRealizedLoss
13118000 USD
CY2018 mhld Debt And Marketable Securities Realized Gain Loss
DebtAndMarketableSecuritiesRealizedGainLoss
-1529000 USD
CY2019 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
1032438000 USD
CY2018 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
367346000 USD
CY2019Q4 us-gaap Deferred Tax Liabilities Deferred Expense
DeferredTaxLiabilitiesDeferredExpense
96000 USD
CY2018Q4 us-gaap Deferred Tax Liabilities Deferred Expense
DeferredTaxLiabilitiesDeferredExpense
33000 USD
CY2019Q4 mhld Investments Gross Unrealized Gain Loss Net Of Deferred Income Tax Expense
InvestmentsGrossUnrealizedGainLossNetOfDeferredIncomeTaxExpense
21996000 USD
CY2018Q4 mhld Investments Gross Unrealized Gain Loss Net Of Deferred Income Tax Expense
InvestmentsGrossUnrealizedGainLossNetOfDeferredIncomeTaxExpense
-59762000 USD
CY2019 mhld Investments Change In Gross Unrealized Gain Loss Net Of Deferred Income Tax Expense
InvestmentsChangeInGrossUnrealizedGainLossNetOfDeferredIncomeTaxExpense
81758000 USD
CY2018 mhld Investments Change In Gross Unrealized Gain Loss Net Of Deferred Income Tax Expense
InvestmentsChangeInGrossUnrealizedGainLossNetOfDeferredIncomeTaxExpense
-81651000 USD
CY2019 us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
102000 USD
CY2018 us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
2275000 USD
CY2019 us-gaap Equity Securities Fv Ni Realized Gain Loss
EquitySecuritiesFvNiRealizedGainLoss
591000 USD
CY2018 us-gaap Equity Securities Fv Ni Realized Gain Loss
EquitySecuritiesFvNiRealizedGainLoss
2777000 USD
CY2019 us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
-489000 USD
CY2018 us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
-502000 USD
CY2019Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
59081000 USD
CY2018Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
130148000 USD
CY2019Q4 us-gaap Restricted Investments
RestrictedInvestments
1448672000 USD
CY2018Q4 us-gaap Restricted Investments
RestrictedInvestments
3893811000 USD
CY2019Q4 us-gaap Restricted Cash And Investments
RestrictedCashAndInvestments
1507753000 USD
CY2018Q4 us-gaap Restricted Cash And Investments
RestrictedCashAndInvestments
4023959000 USD
CY2019Q4 mhld Assets Fair Value Disclosure Number Of Securities Priced For Fair Value
AssetsFairValueDisclosureNumberOfSecuritiesPricedForFairValue
1 security
CY2019Q4 mhld Assets Fair Value Disclosure Number Of Securities Priced For Fair Value
AssetsFairValueDisclosureNumberOfSecuritiesPricedForFairValue
1 security
CY2019 us-gaap Direct Premiums Written
DirectPremiumsWritten
16637000 USD
CY2018 us-gaap Direct Premiums Written
DirectPremiumsWritten
11024000 USD
CY2019 us-gaap Assumed Premiums Written
AssumedPremiumsWritten
-545243000 USD
CY2018 us-gaap Assumed Premiums Written
AssumedPremiumsWritten
2006774000 USD
CY2019 us-gaap Ceded Premiums Written
CededPremiumsWritten
3244000 USD
CY2018 us-gaap Ceded Premiums Written
CededPremiumsWritten
3201000 USD
CY2019 us-gaap Premiums Written Net
PremiumsWrittenNet
-531850000 USD
CY2018 us-gaap Premiums Written Net
PremiumsWrittenNet
2014597000 USD
CY2019 us-gaap Direct Premiums Earned
DirectPremiumsEarned
16118000 USD
CY2018 us-gaap Direct Premiums Earned
DirectPremiumsEarned
10733000 USD
CY2019 us-gaap Assumed Premiums Earned
AssumedPremiumsEarned
434559000 USD
CY2018 us-gaap Assumed Premiums Earned
AssumedPremiumsEarned
2032161000 USD
CY2019 us-gaap Ceded Premiums Earned
CededPremiumsEarned
2915000 USD
CY2018 us-gaap Ceded Premiums Earned
CededPremiumsEarned
16692000 USD
CY2019 us-gaap Premiums Earned Net
PremiumsEarnedNet
447762000 USD
CY2018 us-gaap Premiums Earned Net
PremiumsEarnedNet
2026202000 USD
CY2019 us-gaap Policyholder Benefits And Claims Incurred Gross
PolicyholderBenefitsAndClaimsIncurredGross
453478000 USD
CY2018 us-gaap Policyholder Benefits And Claims Incurred Gross
PolicyholderBenefitsAndClaimsIncurredGross
1885232000 USD
CY2019 us-gaap Reinsurance Costs And Recoveries Net
ReinsuranceCostsAndRecoveriesNet
649000 USD
CY2018 us-gaap Reinsurance Costs And Recoveries Net
ReinsuranceCostsAndRecoveriesNet
5111000 USD
CY2019 us-gaap Policyholder Benefits And Claims Incurred Net
PolicyholderBenefitsAndClaimsIncurredNet
452829000 USD
CY2018 us-gaap Policyholder Benefits And Claims Incurred Net
PolicyholderBenefitsAndClaimsIncurredNet
1880121000 USD
CY2018 mhld Mhld Reinsurance Retention Policy Retrocession Deferred Gain Liability
Mhld_ReinsuranceRetentionPolicyRetrocessionDeferredGainLiability
70158000 USD
CY2019Q3 us-gaap Reinsurance Retention Policy Excess Retention Amount Reinsured
ReinsuranceRetentionPolicyExcessRetentionAmountReinsured
2178535000 USD
CY2019Q3 us-gaap Reinsurance Retention Policy Amount Retained
ReinsuranceRetentionPolicyAmountRetained
600000000 USD
CY2019Q3 mhld Reinsurance Recoverable For Paid And Unpaid Claims And Claims Adjustments Ceded Cumulative Losses
ReinsuranceRecoverableForPaidAndUnpaidClaimsAndClaimsAdjustmentsCededCumulativeLosses
445000000 USD
CY2019Q3 us-gaap Reinsurance Retention Policy Excess Retention Amount Reinsured
ReinsuranceRetentionPolicyExcessRetentionAmountReinsured
2178535000 USD
CY2019Q3 mhld Reinsurance Recoverable For Paid And Unpaid Claims And Claims Adjustments Adverse Development Cover
ReinsuranceRecoverableForPaidAndUnpaidClaimsAndClaimsAdjustmentsAdverseDevelopmentCover
155000000 USD
CY2019Q3 mhld Reinsurance Recoverable For Paid And Unpaid Claims And Claims Adjustments Ceded Cumulative Losses
ReinsuranceRecoverableForPaidAndUnpaidClaimsAndClaimsAdjustmentsCededCumulativeLosses
445000000 USD
CY2019Q4 mhld Deferred Gain On Reinsurance
DeferredGainOnReinsurance
112950000 USD
CY2019Q4 us-gaap Reinsurance Recoverable For Unpaid Claims And Claims Adjustments
ReinsuranceRecoverableForUnpaidClaimsAndClaimsAdjustments
623422000 USD
CY2018Q4 us-gaap Reinsurance Recoverables
ReinsuranceRecoverables
71901000 USD
CY2019Q4 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Reported Claims Amount
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseReportedClaimsAmount
1271358000 USD
CY2018Q4 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Reported Claims Amount
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseReportedClaimsAmount
1619776000 USD
CY2019Q4 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred But Not Reported Ibnr Claims Amount
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredButNotReportedIBNRClaimsAmount
1168549000 USD
CY2018Q4 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred But Not Reported Ibnr Claims Amount
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredButNotReportedIBNRClaimsAmount
1506358000 USD
CY2019Q4 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
2439907000 USD
CY2018Q4 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
3126134000 USD
CY2018Q4 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
3126134000 USD
CY2017Q4 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
2464442000 USD
CY2018Q4 us-gaap Reinsurance Recoverables
ReinsuranceRecoverables
71901000 USD
CY2017Q4 us-gaap Reinsurance Recoverables
ReinsuranceRecoverables
24883000 USD
CY2018Q4 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Net
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet
3054233000 USD
CY2017Q4 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Net
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet
2439559000 USD
CY2019 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Current Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersCurrentYearClaimsAndClaimsAdjustmentExpense
328194000 USD
CY2018 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Current Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersCurrentYearClaimsAndClaimsAdjustmentExpense
1431484000 USD
CY2019 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Prior Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense
124635000 USD
CY2018 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Prior Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense
448637000 USD
CY2019 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaims1
452829000 USD
CY2018 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaims1
1880121000 USD
CY2019 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Current Year1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidCurrentYear1
101654000 USD
CY2018 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Current Year1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidCurrentYear1
440315000 USD
CY2019 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Prior Years1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidPriorYears1
1025381000 USD
CY2018 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Prior Years1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidPriorYears1
723451000 USD
CY2019 us-gaap Payments For Losses And Loss Adjustment Expense
PaymentsForLossesAndLossAdjustmentExpense
1127035000 USD
CY2018 us-gaap Payments For Losses And Loss Adjustment Expense
PaymentsForLossesAndLossAdjustmentExpense
1163766000 USD
CY2019 mhld Liability For Unpaid Claims And Claims Adjustment Expense Retroactive Reinsurance Adjustment
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseRetroactiveReinsuranceAdjustment
557950000 USD
CY2018 mhld Liability For Unpaid Claims And Claims Adjustment Expense Retroactive Reinsurance Adjustment
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseRetroactiveReinsuranceAdjustment
0 USD
CY2019 mhld Liability For Unpaid Claims And Claims Adjustment Expense Foreign Currency Transaction And Translation Adjustment
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseForeignCurrencyTransactionAndTranslationAdjustment
5592000 USD
CY2018 mhld Liability For Unpaid Claims And Claims Adjustment Expense Foreign Currency Transaction And Translation Adjustment
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseForeignCurrencyTransactionAndTranslationAdjustment
23961000 USD
CY2019 us-gaap Allowance For Loan And Lease Losses Adjustments Net
AllowanceForLoanAndLeaseLossesAdjustmentsNet
0 USD
CY2018 us-gaap Allowance For Loan And Lease Losses Adjustments Net
AllowanceForLoanAndLeaseLossesAdjustmentsNet
-77720000 USD
CY2019Q4 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Net
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet
1816485000 USD
CY2018Q4 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Net
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet
3054233000 USD
CY2019Q4 us-gaap Reinsurance Recoverables
ReinsuranceRecoverables
623422000 USD
CY2018Q4 us-gaap Reinsurance Recoverables
ReinsuranceRecoverables
71901000 USD
CY2019Q4 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
2439907000 USD
CY2018Q4 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
3126134000 USD
CY2019 us-gaap Schedule Of Liability For Unpaid Claims And Claims Adjustment Expense
ScheduleOfLiabilityForUnpaidClaimsAndClaimsAdjustmentExpense
<div style="line-height:100%;text-align:justify;text-indent:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The following table summarizes the favorable (adverse) prior period development experienced in each of our reportable segments for the years ended </span><span style="font-family:inherit;font-size:10pt;">December 31, 2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;">:</span></div><div style="line-height:120%;padding-bottom:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.80506822612085%;border-collapse:collapse;text-align:left;"><tr><td colspan="17"/></tr><tr><td style="width:44%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:11%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:11%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:11%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:11%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">For the Year Ended</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">Diversified Reinsurance</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">AmTrust Reinsurance</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">Other</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">Total</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#ccffcc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">December 31, 2019</span></div></td><td style="vertical-align:bottom;background-color:#ccffcc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#ccffcc;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#ccffcc;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,488</span></span></div></td><td style="vertical-align:bottom;background-color:#ccffcc;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#ccffcc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#ccffcc;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#ccffcc;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(113,722</span></span></div></td><td style="vertical-align:bottom;background-color:#ccffcc;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;background-color:#ccffcc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#ccffcc;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#ccffcc;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(312</span></span></div></td><td style="vertical-align:bottom;background-color:#ccffcc;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;background-color:#ccffcc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#ccffcc;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#ccffcc;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(112,546</span></span></div></td><td style="vertical-align:bottom;background-color:#ccffcc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">December 31, 2018</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(2,326</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(399,200</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(1,685</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(403,211</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div>The reserve for loss and LAE comprises: <div style="line-height:120%;padding-bottom:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.80506822612085%;border-collapse:collapse;text-align:left;"><tr><td colspan="9"/></tr><tr><td style="width:72%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:11%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:11%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">December 31,</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">2019</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">2018</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#ccffcc;padding-left:2px;padding-top:2px;padding-bottom:4px;padding-right:2px;"><div style="text-align:left;padding-left:13px;text-indent:-14px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Reserve for reported loss and LAE</span></div></td><td style="vertical-align:bottom;background-color:#ccffcc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#ccffcc;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#ccffcc;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,271,358</span></span></div></td><td style="vertical-align:bottom;background-color:#ccffcc;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#ccffcc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#ccffcc;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#ccffcc;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,619,776</span></span></div></td><td style="vertical-align:bottom;background-color:#ccffcc;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:13px;text-indent:-14px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Reserve for losses incurred but not reported ("IBNR")</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,168,549</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,506,358</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#ccffcc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:13px;text-indent:-14px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Reserve for loss and LAE</span></div></td><td style="vertical-align:bottom;background-color:#ccffcc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#ccffcc;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#ccffcc;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,439,907</span></span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#ccffcc;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#ccffcc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#ccffcc;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#ccffcc;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3,126,134</span></span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#ccffcc;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div></div><div style="line-height:100%;text-align:left;text-indent:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The following table represents a reconciliation of the beginning and ending gross and net loss and LAE reserves: </span></div><div style="line-height:120%;padding-bottom:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="9"/></tr><tr><td style="width:72%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:11%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:11%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">For the Year Ended December 31,</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;text-indent:2px;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">2019</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;text-indent:2px;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">2018</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#ccffcc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:13px;text-indent:-14px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Gross loss and LAE reserves, January 1</span></div></td><td style="vertical-align:bottom;background-color:#ccffcc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#ccffcc;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#ccffcc;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3,126,134</span></span></div></td><td style="vertical-align:bottom;background-color:#ccffcc;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#ccffcc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#ccffcc;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#ccffcc;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,464,442</span></span></div></td><td style="vertical-align:bottom;background-color:#ccffcc;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:13px;text-indent:-14px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Less: reinsurance recoverable on unpaid losses, January 1</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>71,901</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>24,883</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#ccffcc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:13px;text-indent:-14px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net loss and LAE reserves, January 1</span></div></td><td style="vertical-align:bottom;background-color:#ccffcc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#ccffcc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3,054,233</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#ccffcc;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#ccffcc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#ccffcc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,439,559</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#ccffcc;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:4px;padding-right:2px;"><div style="text-align:left;padding-left:13px;text-indent:-14px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net incurred losses related to:</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#ccffcc;padding-left:2px;padding-top:2px;padding-bottom:4px;padding-right:2px;"><div style="text-align:left;padding-left:26px;text-indent:-14px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Current year</span></div></td><td style="vertical-align:bottom;background-color:#ccffcc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#ccffcc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>328,194</span></span></div></td><td style="vertical-align:bottom;background-color:#ccffcc;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#ccffcc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#ccffcc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,431,484</span></span></div></td><td style="vertical-align:bottom;background-color:#ccffcc;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:4px;padding-right:2px;"><div style="text-align:left;padding-left:26px;text-indent:-14px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Prior years</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>124,635</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>448,637</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#ccffcc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#ccffcc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#ccffcc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>452,829</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#ccffcc;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#ccffcc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#ccffcc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,880,121</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#ccffcc;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:4px;padding-right:2px;"><div style="text-align:left;padding-left:13px;text-indent:-14px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net paid losses related to:</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#ccffcc;padding-left:2px;padding-top:2px;padding-bottom:4px;padding-right:2px;"><div style="text-align:left;padding-left:26px;text-indent:-14px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Current year</span></div></td><td style="vertical-align:bottom;background-color:#ccffcc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#ccffcc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(101,654</span></span></div></td><td style="vertical-align:bottom;background-color:#ccffcc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;background-color:#ccffcc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#ccffcc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(440,315</span></span></div></td><td style="vertical-align:bottom;background-color:#ccffcc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:4px;padding-right:2px;"><div style="text-align:left;padding-left:26px;text-indent:-14px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Prior years</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(1,025,381</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(723,451</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#ccffcc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#ccffcc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#ccffcc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(1,127,035</span></span></div></td><td style="vertical-align:bottom;background-color:#ccffcc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;background-color:#ccffcc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#ccffcc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(1,163,766</span></span></div></td><td style="vertical-align:bottom;background-color:#ccffcc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:13px;text-indent:-14px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Retroactive reinsurance adjustment</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(557,950</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>—</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#ccffcc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:13px;text-indent:-14px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Effect of foreign exchange rate movements</span></div></td><td style="vertical-align:bottom;background-color:#ccffcc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#ccffcc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(5,592</span></span></div></td><td style="vertical-align:bottom;background-color:#ccffcc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;background-color:#ccffcc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#ccffcc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(23,961</span></span></div></td><td style="vertical-align:bottom;background-color:#ccffcc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:13px;text-indent:-14px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other adjustments</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>—</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(77,720</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#ccffcc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net loss and LAE reserves, December 31</span></div></td><td style="vertical-align:bottom;background-color:#ccffcc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#ccffcc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,816,485</span></span></div></td><td style="vertical-align:bottom;background-color:#ccffcc;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#ccffcc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#ccffcc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3,054,233</span></span></div></td><td style="vertical-align:bottom;background-color:#ccffcc;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:4px;padding-right:2px;"><div style="text-align:left;padding-left:13px;text-indent:-14px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Reinsurance recoverable on unpaid losses, December 31</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>623,422</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>71,901</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#ccffcc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Gross loss and LAE reserves, December 31</span></div></td><td style="vertical-align:bottom;background-color:#ccffcc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#ccffcc;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#ccffcc;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,439,907</span></span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#ccffcc;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#ccffcc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#ccffcc;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#ccffcc;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3,126,134</span></span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#ccffcc;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div>
CY2019 mhld Liabilityfor Unpaid Claimsand Claims Adjustment Expense Period Increase Decrease Netof Commission Changes
LiabilityforUnpaidClaimsandClaimsAdjustmentExpensePeriodIncreaseDecreaseNetofCommissionChanges
112546000 USD
CY2018 mhld Liabilityfor Unpaid Claimsand Claims Adjustment Expense Period Increase Decrease Netof Commission Changes
LiabilityforUnpaidClaimsandClaimsAdjustmentExpensePeriodIncreaseDecreaseNetofCommissionChanges
403211000 USD
CY2019 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Prior Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense
124635000 USD
CY2019 mhld Percentageof Prior Year Net Lossand Loss Adjustment Expense Reserves
PercentageofPriorYearNetLossandLossAdjustmentExpenseReserves
0.041
CY2018 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Prior Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense
448637000 USD
CY2018 mhld Percentageof Prior Year Net Lossand Loss Adjustment Expense Reserves
PercentageofPriorYearNetLossandLossAdjustmentExpenseReserves
0.184
CY2019 mhld Liabilityfor Unpaid Claimsand Claims Adjustment Expense Period Increase Decrease Netof Commission Changes
LiabilityforUnpaidClaimsandClaimsAdjustmentExpensePeriodIncreaseDecreaseNetofCommissionChanges
112546000 USD
CY2019Q4 mhld Deferred Gain On Reinsurance
DeferredGainOnReinsurance
112950000 USD
CY2019 mhld Short Duration Insurance Contracts Number Of Major Contracts
ShortDurationInsuranceContractsNumberOfMajorContracts
2 Contract
CY2019Q4 mhld Short Duration Insurance Contract Policy Limit
ShortDurationInsuranceContractPolicyLimit
1000000 USD
CY2019Q4 mhld Short Duration Insurance Contract Policy Limit
ShortDurationInsuranceContractPolicyLimit
1000000 USD
CY2019Q4 us-gaap Shortduration Insurance Contracts Liability For Unpaid Claims And Allocated Claim Adjustment Expense Net
ShortdurationInsuranceContractsLiabilityForUnpaidClaimsAndAllocatedClaimAdjustmentExpenseNet
1816485000 USD
CY2019Q4 us-gaap Reinsurance Recoverable For Unpaid Claims And Claims Adjustments
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