A.M. Best Affirms Ratings on Maiden Insurance Company, Ltd. and Maiden Holdings, Ltd.OLDWICK, N.J. -- A.M. Best Co. has affirmed the financial strength rating (FSR (Free System Resource) In Windows 3.x, the amount of unused memory in various 64K blocks reserved for managing current applications. Every open window takes some space in this area. See Windows memory limitation. ) of A- (Excellent) and issuer credit rating (ICR (Intelligent Character Recognition or Image Character Recognition) The machine recognition of hand-printed characters as well as machine printing that is difficult to recognize. ) of "a-" of Maiden Insurance Company, Ltd. (Maiden). Concurrently, A.M. Best has affirmed the ICR of "bbb-" of the parent holding company, Maiden Holdings, Ltd. (Holdings) (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : MHLD MHLD Maritime Homeland Defense (US) ). Both companies are domiciled in Bermuda. The outlook for all ratings is stable. The ratings reflect Maiden's excellent capitalization achieved through contributions from its parent, Maiden Holdings, Ltd., which infused the net proceeds of a private placement offering; the operational benefits derived as a 40% quota share partner with AmTrust Financial Services, Inc.'s (AmTrust) Bermuda reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. subsidiary, AmTrust International Insurance, Ltd. (AII AII Auto ID Infrastructure AII Agence de l'Innovation Industrielle (French Agency for Industrial Innovation) AII Active Input Interface (used in UNI PMD specs for Copper/Fiber) AII ASEAN Information Infrastructure ); and the benefits derived from AmTrust's seasoned management team. These factors are partially offset by Maiden's limited risk-taking experience, the execution risk faced by management in achieving its business plans and the risk inherent in profitably growing its business amidst softening market conditions. Despite these concerns, the rating outlook is supported by the financial commitment of the parent company, and the close working relationship that Maiden shares with AmTrust. Both the rating and the outlook remain largely dependent on management's ability to meet projected underwriting targets while maintaining sufficient capital to support planned premium growth. For Best's Ratings, an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings. Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers. For more information, visit www.ambest.com. |
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