A.M. Best Co. has affirmed the financial strength rating of A- (Excellent) and issuer credit ratings of “a-” of Maiden Insurance Company Ltd. (MIC) (Hamilton, Bermuda), Maiden Reinsurance Company (MRC) (Maryland Heights, MO) and its wholly owned subsidiary, Maiden Specialty Insurance Company (MSIC) (Raleigh, NC), all of which operate through an intercompany quota share reinsurance agreement. Concurrently, A.M. Best has affirmed the ICR of “bbb-” of the parent holding company, Maiden Holdings, Ltd. (Maiden Holdings) (Hamilton, Bermuda) [NASDAQ: MHLD]. The outlook for all ratings is stable. The ratings of the group reflect its solid risk-adjusted capitalization achieved through capital contributions from Maiden Holdings and the operational benefits that MIC derives as a quota share partner with AmTrust Financial Services, Inc.’s (AFSI) Bermuda reinsurance subsidiary, AmTrust International Insurance, Ltd., (AII) and American Capital Acquisition Corporation (ACAC). In addition, the ratings reflect MRC and MSIC’s strategic importance to Maiden Holdings as a dedicated U.S. reinsurance platform providing treaty, accident and health and specialty facultative reinsurance. Partially offsetting these positive rating factors is the execution risk faced by the group’s management in achieving its business plans and integrating newer business. Despite these concerns, MIC’s outlook is supported by the financial commitment of Maiden Holdings, its seasoned management team and the dedicated distribution MIC, MRC and MSIC shares with AFSI and ACAC. The principal methodology used in determining these ratings is Best’s Credit Rating Methodology -- Global Life and Non-Life Insurance Edition , which provides a comprehensive explanation of A.M. Best’s rating process and highlights the different rating criteria employed. Additional key criteria utilized include: “Risk Management and the Rating Process for Insurance Companies”; “Understanding BCAR for Property/Casualty Insurers”; “Rating Members of Insurance Groups”; “Understanding Universal BCAR”; “A.M. Best’s Ratings & the Treatment of Debt”; and “Natural Catastrophe Stress Test Methodology.” Methodologies can be found at www.ambest.com/ratings/methodology. Founded in 1899, A.M. Best Company is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com. Copyright © 2011 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.