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Maiden Holdings, Ltd. Reports Fourth Quarter Net Income Of $19.1 Million And Operating Earnings(1) Of $17.2 Million

Stocks in this article: MHLD

Shareholders' Equity of $750.2 Million; Up 10.9% for the Year

Year End Book Value of $10.40 per Share

Financial Highlights

  • Net income of $19.1 million for the quarter and $69.9 million for 2010, each up 14.4% from the same period last year       
  • Fourth quarter EPS of $ $0.27 and full year EPS of $0.98
  • Net operating earnings (1) of $17.2 million for the quarter compared with $19.0 million in fourth quarter of 2009
  • Fourth quarter operating EPS (1) of $0.24 and $1.02 for the full year
  • Income from operations (2) totaled $30.2 million, up 5.0% from fourth quarter 2009
  • Net written premium of $330.1 million in the quarter, up $96.0 million from fourth quarter 2009
  • Net written premium of $1.2 billion for the full year, up 19.2% from 2009
  • Net earned premium of $312.5 million in the quarter increased 25.7% from fourth quarter of 2009
  • Net earned premium totaled $1.2 billion in 2010, up 27.2% from 2009
  • Net investment income of $17.7 million in the quarter, up 5.3% from fourth quarter 2009
  • Annualized return on equity of 10.1% and operating return on equity (1) of 9.1% in the quarter
  • Full year return on equity of 9.8% and operating return on equity (1) of 10.2%
  • Combined ratio of 97.3% in the quarter and 96.9% for the full year
  • Total assets of $3.0 billion increased 13.1% from year-end 2009
  • Investable assets of $2.2 billion included total investments of $1.9 billion, which were up 12.8% from year-end 2009 total investments of $1.7 billion
  • Shareholders' equity of $750.2 million increased 10.9% from year-end 2009
  • Closed GMAC International Insurance Services, Ltd. transaction in November; integration on track

HAMILTON, Bermuda, March 1, 2011 (GLOBE NEWSWIRE) -- Maiden Holdings, Ltd. (Nasdaq:MHLD) today reported fourth quarter 2010 net income of $19.1 million, up 14.4% from $16.7 million in the fourth quarter of 2009. Earnings per diluted share of $0.27 increased 12.5% from $0.24 in the fourth quarter of 2009.

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