Maiden (MHLD) 10-K 14 Mar 22 2021 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Mar. 04, 2022	Jun. 30, 2021
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2021
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-34042
Entity Registrant Name	MAIDEN HOLDINGS, LTD.
Entity Incorporation, State or Country Code	D0
Entity Tax Identification Number	98-0570192
Entity Address, Address Line One	94 Pitts Bay Road
Entity Address, City or Town	Pembroke
Entity Address, Postal Zip Code	HM 08
Entity Address, Country	BM
City Area Code	441
Local Phone Number	298-4900
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 232.6
Entity Common Stock, Shares Outstanding		86,474,162
Documents Incorporated by Reference	Portions of the registrant's definitive proxy statement to be filed with the Securities and Exchange Commission pursuant to Regulation 14A with respect to the annual general meeting of the shareholders of the registrant scheduled to be held on May 4, 2022 are incorporated by reference into Part III of this Annual Report on Form 10-K.
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Entity Central Index Key	0001412100
Common Shares, par value $0.01 per share
Document Information [Line Items]
Title of 12(b) Security	Common Shares, par value $0.01 per share
Trading Symbol	MHLD
Security Exchange Name	NASDAQ
Series A Preference Shares, par value $0.01 per share
Document Information [Line Items]
Title of 12(b) Security	Series A Preference Shares, par value $0.01 per share
Trading Symbol	MH.PA
Security Exchange Name	NYSE
Series C Preference Shares, par value $0.01 per share
Document Information [Line Items]
Title of 12(b) Security	Series C Preference Shares, par value $0.01 per share
Trading Symbol	MH.PC
Security Exchange Name	NYSE
Series D Preference Shares, par value $0.01 per share
Document Information [Line Items]
Title of 12(b) Security	Series D Preference Shares, par value $0.01 per share
Trading Symbol	MH.PD
Security Exchange Name	NYSE

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2021
Audit Information [Abstract]
Auditor Firm ID	42
Auditor Name	Ernst & Young LLP
Auditor Location	New York, NY

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Investments:
Fixed maturities, available-for-sale, at fair value (amortized cost 2021 - $595,344; 2020 - $1,163,923)	$ 597,145	$ 1,213,411
Equity method investments	83,742	43,136
Other investments	141,725	63,760
Total investments	822,612	1,320,307
Cash and cash equivalents	26,668	74,040
Restricted cash and cash equivalents	39,419	61,786
Accrued investment income	5,695	11,240
Reinsurance balances receivable, net (includes $17,471 from related parties in 2021)	19,507	5,777
Reinsurance recoverable on unpaid losses	562,845	592,571
Loan to related party	167,975	167,975
Deferred commission and other acquisition expenses (includes $34,170 and $45,732 from related parties in 2021 and 2020, respectively)	36,703	51,903
Funds withheld receivable (includes $601,460 and $603,093 from related parties in 2021 and 2020, respectively)	636,412	654,805
Other assets	4,774	8,051
Total assets	2,322,610	2,948,455
LIABILITIES
Reserve for loss and loss adjustment expenses (includes $1,338,269 and $1,727,193 from related parties in 2021 and 2020, respectively)	1,489,373	1,893,299
Unearned premiums (includes $91,730 and $122,737 from related parties in 2021 and 2020, respectively)	100,131	144,271
Deferred gain on retroactive reinsurance	48,960	74,941
Accrued expenses and other liabilities (includes $29,408 and $35,719 from related parties in 2021 and 2020, respectively)	44,542	53,002
Senior notes - principal amount	262,500	262,500
Less unamortized issuance costs	7,153	7,374
Senior notes, net	255,347	255,126
Total liabilities	1,938,353	2,420,639
Commitments and Contingencies
EQUITY
Preference shares	159,210	394,310
Common shares ($0.01 par value; 92,316,107 and 89,815,175 shares issued in 2021 and 2020, respectively; 86,467,242 and 84,801,161 shares outstanding in 2021 and 2020, respectively)	923	898
Additional paid-in capital	768,650	756,122
Accumulated other comprehensive (loss) income	(12,215)	23,857
Accumulated deficit	(498,295)	(615,837)
Treasury shares, at cost (5,848,865 and 5,014,014 shares in 2021 and 2020, respectively)	(34,016)	(31,534)
Total Maiden shareholders’ equity	384,257	527,816
Total liabilities and equity	$ 2,322,610	$ 2,948,455

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Fixed maturities, available-for-sale, amortized cost	$ 595,344	$ 1,163,923
Reinsurance balances receivable, net	19,507	5,777
Deferred commission and other acquisition expenses	36,703	51,903
Funds withheld receivable	636,412	654,805
Reverse for loss and loss adjustment expenses	1,489,373	1,893,299
Unearned premiums	100,131	144,271
Accrued expenses and other liabilities	$ 44,542	$ 53,002
Common shares, par value (in dollars per share)	$ 0.01	$ 0.01
Common shares, issued (in shares)	92,316,107	89,815,175
Common shares, outstanding (in shares)	86,467,242	84,801,161
Treasury shares, (in shares)	5,848,865	5,014,014
Affiliated Entity
Reinsurance balances receivable, net	$ 17,471
Deferred commission and other acquisition expenses	34,170	$ 45,732
Funds withheld receivable	601,460	603,093
Reverse for loss and loss adjustment expenses	1,338,269	1,727,193
Unearned premiums	91,730	122,737
Accrued expenses and other liabilities	$ 29,408	$ 35,719

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Revenues
Gross premiums written	$ 10,938,000	$ 31,389,000
Net premiums written	10,403,000	28,432,000
Change in unearned premiums	42,590,000	77,649,000
Net premiums earned	52,993,000	106,081,000
Other insurance revenue	1,067,000	1,276,000
Net investment income	32,013,000	54,761,000
Net realized and unrealized gains on investment	12,648,000	24,473,000
Total other-than-temporary impairment losses	0	(2,468,000)
Total revenues	98,721,000	184,123,000
Expenses
Net loss and loss adjustment expenses	7,307,000	41,799,000
Commission and other acquisition expenses	24,840,000	38,796,000
General and administrative expenses	36,020,000	39,118,000
Interest and amortization expenses	19,327,000	19,324,000
Foreign exchange and other (gains) losses, net	(7,685,000)	8,526,000
Total expenses	79,809,000	147,563,000
Income before income taxes and interest in income of equity method investments	18,912,000	36,560,000
Less: income tax expense (benefit)	15,000	(104,000)
Interest in income in equity method investments	7,748,000	5,098,000
Net income	26,645,000	41,762,000
Gain from repurchase of preference shares	90,998,000	38,195,000
Net income available to Maiden common shareholders, basic	117,643,000	79,957,000
Net income available to Maiden common shareholders, diluted	$ 117,643,000	$ 79,957,000
Basic earnings per share attributable to common shareholders (in dollars per share)	$ 1.35	$ 0.93
Diluted earnings per share attributable to common shareholders (in dollars per share)	$ 1.35	$ 0.93
Weighted average number of common shares - basic (in shares)	86,068,278	84,333,514
Adjusted weighted average number of common shares and assumed conversions - diluted (in shares)	86,072,667	84,333,655

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 26,645	$ 41,762
Other comprehensive (loss) income
Net unrealized holdings (losses) gains on fixed maturity investments arising during the year	(28,900)	40,043
Net unrealized holdings losses on equity method investments arising during the year	(4,414)	0
Adjustment for reclassification of net realized gains recognized in net income	(18,787)	(12,647)
Foreign currency translation adjustment	15,978	(21,340)
Other comprehensive (loss) income, before tax	(36,123)	6,056
Income tax benefit (expense) related to components of other comprehensive income	51	(35)
Other comprehensive (loss) income, after tax	(36,072)	6,021
Comprehensive (loss) income	$ (9,427)	$ 47,783

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Preference shares – Series A, C and D	Preference shares – Series A, C and DPreference Shares - Series A	Preference shares – Series A, C and DPreference shares - Series C	Preference shares – Series A, C and DPreference shares - Series D	Common shares	Additional paid-in capital	Accumulated other comprehensive (loss) income	Accumulated deficit	Treasury shares
Beginning balance at Dec. 31, 2019		$ 465,000				$ 882	$ 751,327	$ 17,836	$ (695,794)	$ (31,533)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Repurchase of Preference Shares			$ (13,630)	$ (30,087)	$ (26,973)
Issuance of common shares from vesting of stock based compensation						16	(16)
Share-based compensation expense							2,445
Repurchase of preference shares							2,366
Change in net unrealized (losses) gains on investment	$ 27,361							27,361
Foreign currency translation adjustment								(21,340)
Cash settlement of restricted shares granted	0
Net income	41,762								41,762
Gain on repurchase of preference shares	38,195								38,195
Shares repurchased										(1)
Ending balance at Dec. 31, 2020	527,816	394,310				898	756,122	23,857	(615,837)	(31,534)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Repurchase of Preference Shares			$ (87,977)	$ (75,669)	$ (71,454)
Issuance of common shares from vesting of stock based compensation						25	(25)
Share-based compensation expense							4,771
Repurchase of preference shares							7,847
Cash settlement of restricted shares granted							(65)
Change in net unrealized (losses) gains on investment	(52,050)							(52,050)
Foreign currency translation adjustment								15,978
Cash settlement of restricted shares granted	166								(101)
Net income	26,645								26,645
Gain on repurchase of preference shares	90,998								90,998
Shares repurchased										(2,482)
Ending balance at Dec. 31, 2021	$ 384,257	$ 159,210				$ 923	$ 768,650	$ (12,215)	$ (498,295)	$ (34,016)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities:
Net income	$ 26,645,000	$ 41,762,000
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation, amortization and share-based compensation	8,224,000	8,689,000
Interest in income in equity method investments	(7,748,000)	(5,098,000)
Net realized and unrealized gains on investment	(12,648,000)	(24,473,000)
Total other-than-temporary impairment losses	0	2,468,000
Foreign exchange and other (gains) losses, net	(7,685,000)	8,526,000
Changes in assets – (increase) decrease:
Reinsurance balances receivable, net	(11,577,000)	23,406,000
Reinsurance recoverable on unpaid losses	3,694,000	(7,063,000)
Accrued investment income	5,390,000	7,312,000
Deferred commission and other acquisition expenses	15,013,000	25,955,000
Funds withheld receivable	15,749,000	55,802,000
Other assets	(1,834,000)	(3,912,000)
Changes in liabilities – increase (decrease):
Reserve for loss and loss adjustment expenses	(377,706,000)	(581,867,000)
Unearned premiums	(43,416,000)	(77,783,000)
Accrued expenses and other liabilities	(6,531,000)	(15,499,000)
Net cash used in operating activities	(394,430,000)	(541,775,000)
Cash flows from investing activities:
Purchases of fixed maturities	(247,553,000)	(458,892,000)
Purchases of other investments	(75,688,000)	(33,571,000)
Purchases of equity method investments	(44,050,000)	(39,608,000)
Proceeds from sales of fixed maturities	477,920,000	505,396,000
Proceeds from maturities, paydowns and calls of fixed maturities	344,989,000	619,824,000
Proceeds from sale and redemption of other investments	1,273,000	1,932,000
Proceeds from sale and redemption of equity method investments	6,777,000	1,571,000
Other, net	396,000	(608,000)
Net cash provided by investing activities	464,064,000	596,044,000
Cash flows from financing activities:
Repurchase of preference shares	(136,255,000)	(30,129,000)
Cash settlement of restricted shares granted	(166,000)	0
Repurchase of common shares	(2,482,000)	(1,000)
Net cash used in financing activities	(138,903,000)	(30,130,000)
Effect of exchange rate changes on foreign currency cash	(470,000)	4,409,000
Net (decrease) increase in cash, cash equivalents and restricted cash	(69,739,000)	28,548,000
Cash, cash equivalents and restricted cash - beginning of year	135,826,000	107,278,000
Cash and restricted cash and equivalents of continuing operations, end of year	66,087,000	135,826,000
Reconciliation of cash and restricted cash reported within Consolidated Balance Sheets:
Cash and cash equivalents, end of year	26,668,000	74,040,000
Restricted cash and cash equivalents, end of year	39,419,000	61,786,000
Total cash and cash equivalents and restricted cash and equivalents, end of year	66,087,000	135,826,000
Supplemental information on cash flows
Interest paid	19,106,000	19,106,000
Taxes paid	$ 109,000	$ 106,000

Organization

Organization	12 Months Ended
	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization 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 creates shareholder value by actively managing and allocating our assets and capital, including through ownership and management of businesses and assets primarily in the insurance and related financial services industries where we can leverage our deep knowledge of those markets. We also provide a full range of legacy services to small insurance companies, particularly those in run-off or with blocks of reserves that are no longer core, working with clients to develop and implement finality solutions including acquiring entire companies that enable our clients to meet their capital and risk management objectives. We expect our legacy solutions business to contribute to our active asset and capital management strategies. Short-term income protection business is written on a primary basis by our wholly owned subsidiaries Maiden Life Försäkrings AB ("Maiden LF") and Maiden General Försäkrings AB ("Maiden GF") in the Scandinavian and Northern European markets. Insurance support services are provided to Maiden LF and Maiden GF by our UK services company, Maiden Global Holdings Ltd. (“Maiden Global”) which is also a licensed intermediary in the United Kingdom. Maiden Global had previously operated internationally by providing branded auto and credit life insurance products through insurer partners, particularly those in the European Union ("EU") and other global markets. These products also produced reinsurance programs which were underwritten by our wholly owned subsidiary Maiden Reinsurance Ltd. (“Maiden Reinsurance”). The Company is not actively underwriting reinsurance business on new prospective risks but is now actively underwriting risks on a retroactive basis through our indirect wholly owned subsidiary Genesis Legacy Solutions ("GLS"). We also have various historic reinsurance programs underwritten by Maiden Reinsurance which are in run-off, including the liabilities associated with AmTrust Financial Services, Inc. ("AmTrust") reinsurance agreements which were terminated in 2019 as discussed in "Note 10 — Related Party Transactions" . In addition, we have a retroactive reinsurance agreement and a commutation agreement that further reduces our exposure and limits the potential volatility related to AmTrust liabilities, which are discussed in " Note 8 — Reinsurance " of the Notes to Consolidated Financial Statements. Since 2018, the Company has engaged in a series of strategic measures that have dramatically reduced the regulatory capital required to operate our business, materially strengthened our solvency ratios, re-domiciled Maiden Reinsurance from Bermuda to the State of Vermont in the U.S. and ceased active reinsurance underwriting on prospective risks. These transactions can be found in Part II of our Annual Report on Form 10-K for the year ended December 31, 2020 that was filed with the SEC on March 15, 2021 and are more fully described (as applicable) in "Note 8 — Reinsurance" and "Note 10 — Related Party Transactions" in these financial statements. Re-domestication of Maiden Reinsurance Effective March 16, 2020, we re-domesticated our principal operating subsidiary, Maiden Reinsurance, from Bermuda to the State of Vermont in the U.S., having determined that re-domesticating Maiden Reinsurance to Vermont enables us to better align our capital and resources with our liabilities, which originate mostly in the U.S., resulting in a more efficient structure. Maiden Reinsurance is now subject to the statutes and regulations of Vermont in the ordinary course of business. The re-domestication, in combination with other strategic measures described above that were completed in 2019, have continued to strengthen the Company’s capital position and solvency ratios. While the Vermont Department of Financial Regulation ("Vermont DFR") is now the group supervisor for the Company, the re-domestication did not apply to the Parent Company which remains a Bermuda-based holding company. Securities issued by Maiden Holdings were not affected by the re-domestication of Maiden Reinsurance to Vermont. Concurrent with its re-domestication to Vermont on March 16, 2020, Maiden Holdings contributed as capital the remaining 65% of its ownership in Maiden Reinsurance to our wholly-owned subsidiary Maiden Holdings North America, Ltd. ("Maiden NA"). Maiden NA now owns 100% of Maiden Reinsurance in the aggregate. Genesis Legacy Solutions In November 2020, we formed GLS which specializes in providing a full range of legacy services to small insurance entities, particularly those in run-off or with blocks of reserves that are no longer core, working with clients to develop and implement finality solutions including acquiring entire companies that enable our clients to meet their capital and risk management objectives. We believe the formation of GLS is highly complementary to our overall longer-term strategy. GLS, along with other recent insurance industry investments, enables us to leverage our knowledge base while not re-entering active underwriting of new risks and maintaining an efficient operating profile. We believe GLS not only enhances our profitability through both fee income and effective claims management services, but it will also increase our asset base through the addition of blocks of reserves or companies that can be successfully wound down. Effective October 1, 2021, GLS completed its first transaction, a loss portfolio transfer transaction which includes an adverse development cover and GLS continues to develop additional opportunities consistent with its business plan. The accounting for this transaction is described in " Note 2 — Significant Accounting Policies" under retroactive reinsurance. This should further enhance our ability to pursue the asset and capital management pillars of our business strategy. As of December 31, 2021, GLS and its subsidiaries had insurance related liabilities including loss reserves and risk premiums totaling $17,925 and has completed an additional transaction in the first quarter of 2022 with an effective date of December 31, 2021. 1. Organization (continued) COVID-19 Pandemic The continuing COVID-19 global pandemic has caused significant disruption to the economy and financial markets globally, and the full extent of the potential impacts of COVID-19 are not yet known. Circumstances caused by the COVID-19 pandemic are complex, uncertain and rapidly evolving. Our results of operations, financial condition, and liquidity and capital resources may have been adversely impacted by the COVID-19 pandemic, and the future impact of the pandemic on our financial condition or results of operations is difficult to predict. As described herein, the Company has not been engaged in active reinsurance underwriting of prospective risks since early 2019 and is running off the remaining unearned exposures it has reinsured. The Company's Swedish and UK insurance operations ("IIS unit") do write limited primary insurance coverages that could be exposed to COVID-19 claims. While we assess our exposure to COVID-19 insurance and reinsurance claims on our existing insurance exposures and remaining reinsurance exposures as limited and immaterial, given the uncertainty surrounding the COVID-19 pandemic and its impact on the insurance industry, our preliminary estimates of loss and loss adjustment expenses ("loss and LAE") and estimates of reinsurance recoverable arising from the COVID-19 pandemic may materially change. Maiden Reinsurance has not received any COVID-19 claims to date but our companies within our IIS unit have received a limited number of claims related to those coverages which it deems as immaterial. Unanticipated issues relating to claims and coverage may emerge, which could adversely affect our business by increasing the scope of coverage beyond our intent and/or increasing the frequency and severity of claims. The Company's investment portfolio may be adversely impacted by unfavorable market conditions caused by the COVID-19 pandemic, and the Company and its reinsurance subsidiaries may need additional capital to maintain compliance with regulatory capital requirements and/or be required to post additional collateral under existing reinsurance arrangements, which could reduce our liquidity. In addition, the Company may experience continued volatility in its results of operations which could negatively impact its financial condition and create a reduction in the amount of available distribution or dividend capacity from its regulated reinsurance subsidiaries, which would also reduce liquidity.

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Basis of Reporting and Consolidation — These Consolidated Financial Statements have been prepared in conformity with accounting principles generally accepted in the U.S. ("U.S. GAAP") and include the accounts of Maiden Holdings and all of its subsidiaries. These Consolidated Financial Statements reflect all adjustments that are, in the opinion of management, necessary for a fair presentation of the results for the period and all such adjustments are of a normal recurring nature. All significant intercompany transactions and accounts have been eliminated. Certain prior year comparatives have been reclassified to conform to the current year presentation. The effect of these reclassifications had no impact on previously reported shareholders' equity or net income. Estimates — 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"), deferred gain on retroactive reinsurance; recoverability of reinsurance balances receivable, reinsurance recoverable on unpaid losses, funds withheld 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. Fixed Maturity Investments — The Company classifies its fixed maturity investments as available-for-sale ("AFS"). The AFS portfolio is reported at fair value and any unrealized gains or losses are reported as a component of accumulated other comprehensive income ("AOCI") in shareholders' equity. The fair value of fixed maturity investments is generally determined from quotations received from third-party nationally recognized pricing services ("Pricing Service"), or when such prices are not available, by reference to broker or underwriter bid indications. Short-term investments - These investments are comprised of securities due to mature within one year of the date of purchase. The Company held no short-term investments as at December 31, 2021 and 2020. Other investments — The Company accounts for its other investments at fair value in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 944-325, "Financial Services - Insurance - Investments - Other" ("ASC 944-325"). Other investments are comprised of the following types of investments: • Privately held investments: These are direct equity investments in common and preferred stock of privately held entities. The fair values are estimated using quarterly financial statements and/or recent private market transactions. These investments are also comprised of investments in insurtech and other insurance focused companies. The fair value of these start-up insurance entities are determined using recent private market transactions where applicable. Any changes in fair value are reported in realized gains (losses) and recognized in net earnings. • Private credit funds: These are privately held equity investments in common stock of entities that lend money valued using the most recently available or quarterly net asset value ("NAV") statements as provided by the external fund manager or third-party administrator. Any changes in fair value are reported in realized gains (losses) and recognized in net earnings. • Private equity funds: These are comprised of private equity funds, private equity co-investments with sponsoring entities and investments in real estate limited partnerships and joint ventures . The fair value is estimated based on the most recently available NAV as advised by the external fund manager or third-party administrator. Any changes in fair value are reported in realized gains (losses) and recognized in net earnings. • Investments in direct lending entities: These investments are carried at cost less impairment, if any, with any indication of impairment recognized in income when determined. • Publicly traded equity investments: These investments are in the common stock of publicly traded entities. The fair value is primarily priced by pricing services, reflecting the closing price quoted for the final trading day of the period. The common stock is carried at fair value using observable market pricing data and any unrealized gains or losses on the investment is recorded in net income in the period in which they occur. The valuation of other investments is further described in Note 5 — Fair Value Measurements . Due to a lag in the valuations of certain funds reported by the investment managers, the Company may record changes in valuation with up to a three-month lag. The Company regularly reviews and discusses fund performance with the investment managers or sponsors to corroborate the reasonableness of the reported NAV and to assess whether any events have occurred within the lag period that would affect the valuation of the investments. Equity Method Investments — Investments in which the Company has significant influence over the operating and financial policies of the investee are classified as equity method investments and accounted for using the equity method of accounting. In applying the equity method of accounting, investments are initially recorded at cost and are subsequently adjusted based on the Company’s proportionate share of the investee's net income or loss, net of any distributions received. Adjustments are based on the most recent available financial information from the investee. Changes in the carrying value of these investments are recorded in net income as interest in income (loss) of equity method investments. The Company records its share of the investee’s OCI activity based on its proportionate share of the investee's common stock or capital, and books any OCI activity directly to the equity method investments account, with the offset recorded to the Company's AOCI. 2. Significant Accounting Policies (continued) Purchases and sales of investments are recorded on a trade date basis. Realized gains or losses on investment sales are determined based on the first in first out cost method. Net investment income is recognized when earned and includes accrued interest and dividend income together with amortization of market premiums and discounts using the effective yield method, net of investment management fees. For U.S. government agency mortgage-backed securities ("Agency MBS") and any other holdings for which there is a prepayment risk, prepayment assumptions are evaluated and revised as necessary. Any changes required due to movements in effective yields and maturities are recognized on a prospective basis through yield adjustments. A security is potentially impaired when its fair value falls below its amortized cost. On a quarterly basis, all potentially impaired securities are reviewed to determine whether the impairment is temporary or OTTI. OTTI assessments are inherently judgmental, especially where securities have experienced severe declines in fair value over a short period. The Company's review process begins with a quantitative analysis to identify securities to be further evaluated for potential classification as OTTI. For all identified securities, further fundamental analysis is performed that considers, but is not limited to, the following quantitative and qualitative factors: historic and implied volatility of the security; length of time and extent to which the fair value has been less than amortized cost; adverse conditions specifically related to the security or to specific conditions in an industry or geographic area; failure, if any, of the issuer of the security to make scheduled payments; and recoveries or additional declines in fair value subsequent to the balance sheet date. The Company recognizes OTTI losses within earnings for its impaired fixed maturity securities (i) for which the Company has the intent to sell the security or (ii) it is more likely than not that the Company will be required to sell the debt security before its anticipated recovery and (iii) for those securities which have a credit loss. In assessing whether a credit loss exists, the Company compares the present value of the cash flows expected to be collected from the security with the amortized cost basis of the security. In instances in which a determination is made that an impairment exists but the Company does not intend to sell the security and it is not more likely than not that the Company will be required to sell the security before the anticipated recovery of its remaining amortized cost basis, the impairment is separated into (i) the amount of the total impairment related to the credit loss and (ii) the amount of the total impairment related to all other factors. The amount of the total OTTI related to the credit loss is recognized in earnings. The amount of the total OTTI related to all other factors is recognized in OCI. In periods after the recognition of OTTI on the fixed maturity securities, the Company accounts for such securities as if they had been purchased on the measurement date of the OTTI at an amortized cost basis equal to the previous amortized cost basis less the OTTI recognized in earnings. For fixed maturity securities in which an OTTI loss was recognized in earnings, the difference between the new amortized cost basis and the cash flows expected to be collected will be amortized into net investment income. As the Company's investment portfolio is the largest component of its consolidated assets, any OTTI on fixed maturity securities could be material to the Company's financial condition and results particularly during periods of dislocation in the financial markets. Fair Value Measurements — ASC Topic 820, "Fair Value Measurements and Disclosures" ("ASC 820") defines fair value as the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between open market participants at the measurement date. Additionally, ASC 820 establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. The hierarchy is broken down into three levels based on the reliability of inputs: • Level 1 — Valuations based on unadjusted quoted market prices for identical assets or liabilities that we have the ability to access. Because valuations are based on quoted prices that are readily and regularly available in an active market, valuation of these products does not entail a significant degree of judgment. Examples of assets and liabilities utilizing Level 1 inputs include: U.S. Treasury bonds; • Level 2 — Valuations based on quoted prices for similar assets or liabilities in active markets, quoted prices for identical assets or liabilities in inactive markets, or valuations based on models where the significant inputs are observable (e.g. interest rates, yield curves, prepayment speeds, default rates, loss severity, etc.) or can be corroborated by observable market data. Examples of assets and liabilities utilizing Level 2 inputs include: U.S. government-sponsored agency securities; non-U.S. government and supranational obligations; commercial mortgage-backed securities ("CMBS"); collateralized loan obligations ("CLO"); corporate and municipal bonds; and • Level 3 — Valuations based on models where significant inputs are not observable. The unobservable inputs reflect our own assumptions about assumptions that market participants would use developed on the basis of the best information available in the particular circumstances. Examples of assets and liabilities utilizing Level 3 inputs include: an investment in preference shares of a start-up insurance producer. The availability of observable inputs can vary and is affected by a wide variety of factors, including, for example, the type of financial instrument, whether the financial instrument is new and not yet established in the marketplace, and other characteristics particular to the transaction. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires significantly more judgment. Accordingly, the degree of judgment exercised by management in determining fair value is greatest for instruments categorized in the Level 3 hierarchy. The Company uses prices and inputs that are current as at the measurement date. In periods of market dislocation, the observability of prices and inputs may be reduced for many instruments. This condition could cause a financial instrument to be reclassified between hierarchy levels. 2. Significant Accounting Policies (continued) For investments that have quoted market prices in active markets, the Company uses the quoted market prices as fair value and includes these in the Level 1 hierarchy. The Company receives quoted market prices from a third party nationally recognized Pricing Service. When quoted market prices are unavailable, the Company utilizes the Pricing Service to determine an estimate of fair value. The fair value estimates are included in the Level 2 hierarchy. The Company will challenge any prices for its investments which are considered not to be representative of fair value. If quoted market prices and an estimate from the Pricing Service are unavailable, the Company produces an estimate of fair value based on dealer quotations for recent activity in positions with the same or similar characteristics to that investment being valued. The Company determines whether the fair value estimate is in the Level 2 or Level 3 hierarchy depending on the level of observable inputs available when estimating the fair value. The Company bases its estimates of fair values for assets on the bid price as it represents what a third party market participant would be willing to pay in an orderly transaction. Cash and Cash Equivalents — The Company maintains cash accounts in several banks and brokerage institutions. Cash equivalents consist of investments in money market funds and short-term investments with an original maturity of 90 days or less and are stated at cost, which approximates fair value. Restricted cash and cash equivalents are separately reported in the Consolidated Balance Sheets. The Company maintains certain cash and investments in trust accounts used primarily as collateral for unearned premiums and loss and LAE reserves owed to insureds. The Company is required to maintain minimum balances in these restricted accounts based on pre-determined formulas. Please see " Note 4. (e) Investments " for further details. Premiums and Related Expenses — For pro-rata contracts and excess-of-loss contracts where no deposit or minimum premium is specified in the contract, premium written is recognized based on estimates of ultimate premiums provided by the ceding companies. Initial estimates of premium written are recognized in the period in which the underlying risks are incepted. Subsequent adjustments, based on reports of actual premium by the ceding companies, or revisions in estimates, are recorded in the period in which they are determined. Reinsurance premiums assumed are generally earned on a pro-rata basis over the terms of the underlying policies or reinsurance contracts. Contracts and policies written on a "losses occurring" basis cover claims that may occur during the term of the contract or policy, which is typically twelve months. Accordingly, the premium is earned evenly over the term. Contracts which are written on a "risks attaching" basis cover claims which attach to the underlying insurance policies written during the terms of such contracts. Premiums earned on such contracts usually extend beyond the original term of the reinsurance contract, typically resulting in recognition of premiums earned over a 24-month period. Reinsurance premiums on specialty risk and extended warranty are earned based on the estimated program coverage period. These estimates are based on the expected distribution of coverage periods by contract at inception, because a single contract may contain multiple coverage period options, and these estimates are revised based on the actual coverage period selected by the original insured. Unearned premiums represent the portion of premiums written which is applicable to the unexpired term of the contract or policy in force. These premiums can be subject to estimates based upon information received from ceding companies and any subsequent differences arising on such estimates are recorded in the period in which they are determined. Assumed and ceded reinsurance contracts that lack a significant transfer of risk are treated as deposits. No deposit contracts are held as at December 31, 2021 and 2020. Acquisition expenses represent the costs of writing business that vary with, and are primarily related to, the production of that business. Policy and contract acquisition expenses, including assumed commissions, are deferred and recognized as expense as the related premiums are earned. The Company considers anticipated investment income in determining the recoverability of these costs and believes they are fully recoverable. A premium deficiency is recognized if the sum of anticipated loss and LAE, unamortized acquisition expenses less anticipated investment income exceed unearned premiums. Loss and LAE — Loss and LAE represent the estimated ultimate net costs of all reported and unreported losses incurred through December 31 of the latest fiscal year. The reserve for loss and LAE is estimated using a statistical analysis of actuarial data and is not discounted for the time value of money. Although considerable variability is inherent in the estimates of reserves for loss and LAE, management believes that the reserve for loss and LAE is adequate based on known information to date. In estimating loss reserves, the Company utilizes a variety of standard actuarial methods. These estimates are continually reviewed and adjusted as necessary as experience develops or new information becomes available. Such adjustments are included and reported in current operations as favorable or unfavorable prior period development. Reinsurance — Reinsurance premiums and loss and LAE ceded to other companies are accounted for on a basis consistent with those used in accounting for original policies issued and pursuant to the terms of the reinsurance contracts. The Company records premiums earned and loss and LAE incurred and ceded to other companies as reduction of premium revenue and loss and LAE, respectively. The unexpired portion of reinsurance purchased by the Company (retrocession or reinsurance premiums ceded) is included in other assets and amortized over the contract period in proportion to the amount of insurance protection provided. The ultimate amount of premiums, including adjustments, is recognized as premiums ceded and amortized over the applicable contract period to which they apply. Premiums earned are reported net of reinsurance in the Consolidated Statements of Income. Reinsurance recoverable on unpaid losses relate to the portion of reserves and paid losses and LAE that are ceded to other companies. Reinsurance recoverable on unpaid losses are separately recorded as an asset in the Consolidated Balance Sheets. The Company remains contingently liable for all loss payments in the event of failure to collect from reinsurers. 2. Significant Accounting Policies (continued) Retroactive Reinsurance - Retroactive reinsurance agreements are those in which a reinsurer agrees to reimburse the ceding company for liabilities incurred as a result of past insurable loss events. We do not record any income or expense on recognition of the reinsurance contract's assets and liabilities at inception. Any subsequent remeasurement of the value of liabilities is recorded to net loss and LAE within the Consolidated Statements of Income. For ceded retroactive agreement, the excess of the amounts ultimately collectible under the agreement over the consideration paid is recognized as a deferred gain liability which is amortized into income over the settlement period of the ceded reserves once the paid losses have exceeded the minimum retention. The amount of the deferral is recalculated each period based on actual loss payments and updated estimates of ultimate losses. If the consideration paid exceeds the ultimate losses collectible under the agreement, the net loss on the retroactive reinsurance agreement is recognized within income immediately. At the inception of a run-off retroactive reinsurance contract, if the estimated undiscounted ultimate losses payable are in excess of the premiums received, a deferred charge asset is recorded for the excess; whereas, if the premiums received are in excess of the estimated undiscounted ultimate losses payable, a deferred gain liability is recorded for the excess, such that we do not record any gain or loss at the inception of these retroactive reinsurance contracts. The premium consideration that we charge the ceding companies under retroactive reinsurance contracts may be lower than the undiscounted estimated ultimate losses payable due to the time value of money. After receiving the premium consideration in full from cedents at the inception of the contract, we invest the premium received over an extended period of time, thereby generating investment income. We expect to generate profits from these retroactive reinsurance contracts when taking into account the premium received and expected investment income, less contractual obligations and expenses. Deferred charge assets will be recorded in other assets (if and when applicable), and deferred gain liabilities are recorded in other liabilities, and amortized over the estimated claim payment period of the related contract with the periodic amortization reflected in income as a component of net loss and LAE. The amortization of deferred charge assets and deferred gain liabilities is adjusted at each reporting period to reflect new estimates of the amount and timing of remaining loss and LAE payments. Changes in the estimated amount and timing of payments of unpaid losses may have an effect on the unamortized deferred charge assets and deferred gain liabilities and the amount of periodic amortization. Debt Obligations and Deferred Debt Issuance Costs — Costs incurred in issuing debt are capitalized and amortized over the contractual life of the debt. The amortization of these costs are included in interest and amortization expenses in the Consolidated Statements of Income. The unamortized amount of issuance costs is presented as a deduction from the related principal liability for senior notes in the Consolidated Balance Sheets. Leases — The Company's leases are all currently classified as operating leases and none of them have non-lease components. For operating leases that have a lease term of more than twelve months, the Company recognized a lease liability (presented as part of accrued expenses and other liabilities) and a right-of-use asset (presented as part of other assets) in the Consolidated Balance Sheets at the present value of the remaining lease payments until expiration. As the lease contracts generally do not provide an implicit discount rate, the Company used a weighted-average discount rate of 10%, representing its estimated secured incremental borrowing rate, in calculating the present value of the lease liability. The Company has made an accounting policy election not to include renewal, termination, or purchase options that are not reasonably certain of exercise when determining the term of the borrowing. The Company recognizes the related leasing expense on a straight-line basis over the lease term in the Company's Consolidated Statements of Income. Non-controlling Interests — The Company accounts for non-controlling interests in subsidiaries in accordance with ASC Topic 810 " Consolidations" , and presents any non-controlling shareholders' interest in the equity section of the Consolidated Balance Sheets. Net income attributable to non-controlling interests is presented separately in the Consolidated Statements of Income. There are no remaining non-controlling interests in subsidiaries as at December 31, 2021 and 2020. Income Taxes — The Company accounts for income taxes using ASC Topic 740 " Income Taxes" for subsidiaries operating in taxable jurisdictions. Deferred income taxes reflect the expected future tax consequences of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and amounts used for income tax purposes. A valuation allowance is recorded if it is more likely than not that some or all of a deferred tax asset may not be realized. The Company considers future taxable income and feasible tax planning strategies in assessing the need for a valuation allowance. In the event the Company determines that it will not be able to realize all or part of its deferred income tax assets in the future, an adjustment to the deferred income tax assets would be charged to income in the period in which such determination is made. In addition, if the Company subsequently assesses that the valuation allowance is no longer needed, a benefit would be recorded to income in the period in which such determination is made. U.S. GAAP allows for the recognition of tax benefits of uncertain tax positions only where the position is more likely than not to be sustained assuming examination by tax authorities. A liability is established for any tax benefit claimed in a tax return in excess of this threshold. Income tax related interest and penalties would be included as income tax expense. The Company has not recorded or accrued any interest or penalties during the years ended December 31, 2021 and 2020. Share-Based Compensation Expense — Pursuant to the 2019 Omnibus Incentive Plan, the Company is authorized to issue restricted share awards and performance-based restricted shares, share options and other equity-based awards to its employees and directors. The Company recognizes the compensation expense for share options and restricted share grants based on the fair value of the award on the date of grant, over the requisite service vesting period. Forfeitures are accounted for if and when they occur. The estimated fair value of the grant is amortized ratably over its vesting period as a charge to compensation expense (as a component of general and administrative expenses) and an increase to additional paid-in capital in the Consolidated Shareholders’ Equity. 2. Significant Accounting Policies (continued) Earnings Per Share — Basic earnings per share are computed based on the weighted-average number of common shares outstanding and exclude any dilutive effects of share options, and unvested restricted shares units. Dilutive earnings per share are computed using the weighted-average number of common shares outstanding during the period adjusted for the dilutive impact of share options. The two-class method is used to determine earnings per share based on dividends declared on common shares and participating securities (i.e. distributed earnings) and participation rights of participating securities in any undistributed earnings. Each unvested restricted share granted by the Company to certain employees and directors is considered a participating security and the two-class method is used to calculate net income attributable to Maiden common shareholders per common share – basic and diluted. However, any undistributed losses are not allocated to the participating securities. Net income available to Maiden common shareholders per common share – basic and diluted is also adjusted for any gain or loss from redemption or induced conversion of the Company's preference shares. The gain on repurchase of preference shares had an impact of $1.06 per common share for the year ended December 31, 2021. Treasury Shares — Treasury shares include common shares repurchased by the Company and not subsequently cancelled as well as share repurchases from employees, which represent withholding in respect of tax obligations on the vesting of restricted shares and performance based shares. Treasury shares are recorded at cost and result in a reduction of the total Maiden shareholders’ equity in the Consolidated Balance Sheets. Foreign Currency Transactions — The functional currency of the Company and many of its subsidiaries is the U.S. dollar. For these companies, monetary assets and liabilities denominated in foreign currencies are translated at year-end exchange rates, with resulting foreign exchange gains and losses recognized in the Consolidated Statements of Income. Revenues and expenses in foreign currencies are converted at average exchange rates during the year. Monetary assets and liabilities include cash and cash equivalents, reinsurance balances receivable, reinsurance recoverable on unpaid losses, funds withheld receivable, reserve for loss and LAE and accrued expenses and other liabilities. Accounts that are classified as non-monetary such as deferred commission and other acquisition expenses and unearned premiums are not revalued. Assets and liabilities of foreign subsidiaries and divisions, whose functional currency is not the U.S. dollar, are translated at year-end exchange rates. Revenues and expenses of these entities are translated at average exchange rates during the year. The effects of the foreign currency translation adjustment for foreign entities are included in AOCI. The amount of the cumulative translation adjustment at December 31, 2021 was $(9,522) (2020 - $(25,500)). Recently Adopted Accounting Standards Updates No new accounting standards have been recently adopted for the year ended December 31, 2021. Recently Issued Accounting Standards Not Yet Adopted Accounting for Measurement of Credit Losses on Financial Instruments In June 2016, the FASB issued ASU 2016-13 "Financial Instruments: Credit Losses (Topic 326)" replacing the "incurred loss" impairment methodology with an approach based on "expected losses" to estimate credit losses on certain types of financial instruments and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The guidance requires financial assets to be presented at the net amount expected to be collected. The allowance for credit losses is a valuation account that is deducted from the cost of the financial asset to present the net carrying value at the amount expected to be collected on the financial asset. ASU 2016-13 also modified the accounting for AFS debt securities, which must be individually assessed for credit losses when fair value is less than the amortized cost basis, in accordance with Subtopic 326-30, Financial Instruments: Credit Losses Available-for-Sale Debt Securities . Credit losses relating to AFS debt securities will be recorded through an allowance for credit losses rather than under the current OTTI methodology. In April 2019, the FASB issued ASU 2019-04 for targeted improvements related to ASU 2016-13 which clarify that an entity should include all expected recoveries in its estimate of the allowance for credit losses. In addition, for collateral dependent financial assets, the amendments mandate that an allowance for credit losses that is added to the amortized cost basis of the financial asset should not exceed amounts previously written off. It also clarifies FASB’s intent to include all reinsurance recoverables within the scope of Topic 944 to be within the scope of Subtopic 326-20 , regardless of the measurement basis of those recoverables. The Company's reinsurance recoverable on unpaid losses is currently the most significant financial asset within the scope of ASU 2016-13. The guidance is effective for public business entities, excluding entities eligible to be smaller reporting companies ("SRCs") as defined by the SEC, for annual periods beginning after December 15, 2019, and interim periods therein. The guidance is effective for all other entities, including public entities eligible to be SRCs, for fiscal years beginning after December 15, 202

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
Segment Information	Segment Information The Company currently has two reportable segments: Diversified Reinsurance and AmTrust Reinsurance. Our Diversified Reinsurance segment consists of a portfolio of predominantly property and casualty reinsurance business focusing on regional and specialty property and casualty insurance companies located primarily in Europe. This segment also includes transactions entered into by GLS which was formed in November 2020 as described in " Note 1 — Organization". Our AmTrust Reinsurance segment includes all business ceded to Maiden Reinsurance by AmTrust, primarily the quota share reinsurance agreement (“AmTrust Quota Share”) between Maiden Reinsurance and AmTrust’s wholly owned subsidiary, AmTrust International Insurance, Ltd. (“AII”), 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"), which are both in run-off effective January 1, 2019. Please refer to " Note 10 — Related Party Transactions " for additional information regarding the AmTrust Reinsurance segment. The Company evaluates segment performance based on segment profit separately from the results of our investment portfolio. General and administrative expenses are allocated to the reportable segments on an actual basis except salaries and benefits where management’s judgment is applied; however general corporate expenses are not allocated to the segments. In determining total assets by reportable segment, the Company identifies those assets that are attributable to a particular segment such as reinsurance balances receivable, reinsurance recoverable on unpaid losses, deferred commission and other acquisition expenses, funds withheld receivable, loan to related party, and restricted cash and investments. All remaining assets are allocated to Corporate. The following tables summarize the underwriting results of our reportable segments and the reconciliation of our reportable segments' underwriting results to consolidated net income: For the Year Ended December 31, 2021 Diversified Reinsurance AmTrust Reinsurance Total Gross premiums written $ 16,633 $ (5,695) $ 10,938 Net premiums written $ 16,098 $ (5,695) $ 10,403 Net premiums earned $ 27,681 $ 25,312 $ 52,993 Other insurance revenue 1,067 — 1,067 Net loss and LAE (4,286) (3,021) (7,307) Commission and other acquisition expenses (15,093) (9,747) (24,840) General and administrative expenses (7,827) (2,514) (10,341) Underwriting income $ 1,542 $ 10,030 11,572 Reconciliation to net income Net investment income and net realized and unrealized gains on investment 44,661 Interest and amortization expenses (19,327) Foreign exchange and other gains, net 7,685 Other general and administrative expenses (25,679) Income tax expense (15) Interest in income from equity method investments 7,748 Net income $ 26,645 Net loss and LAE ratio (1) 14.9 % 11.9 % 13.5 % Commission and other acquisition expense ratio (2) 52.5 % 38.5 % 46.0 % General and administrative expense ratio (3) 27.2 % 9.9 % 66.6 % Expense ratio (4) 79.7 % 48.4 % 112.6 % Combined ratio (5) 94.6 % 60.3 % 126.1 % 3. Segment Information (continued) For the Year Ended December 31, 2020 Diversified Reinsurance AmTrust Reinsurance Total Gross premiums written $ 40,457 $ (9,068) $ 31,389 Net premiums written $ 37,258 $ (8,826) $ 28,432 Net premiums earned $ 47,847 $ 58,234 $ 106,081 Other insurance revenue 1,276 — 1,276 Net loss and LAE (24,909) (16,890) (41,799) Commission and other acquisition expenses (18,475) (20,321) (38,796) General and administrative expenses (6,936) (2,552) (9,488) Underwriting (loss) income $ (1,197) $ 18,471 17,274 Reconciliation to net income Net investment income and net realized and unrealized gains on investment 79,234 Total other-than-temporary impairment losses (2,468) Interest and amortization expenses (19,324) Foreign exchange and other losses, net (8,526) Other general and administrative expenses (29,630) Income tax benefit 104 Interest in income from equity method investments 5,098 Net income $ 41,762 Net loss and LAE ratio (1) 50.7 % 29.0 % 38.9 % Commission and other acquisition expense ratio (2) 37.6 % 34.9 % 36.1 % General and administrative expense ratio (3) 14.1 % 4.4 % 36.4 % Expense ratio (4) 51.7 % 39.3 % 72.5 % Combined ratio (5) 102.4 % 68.3 % 111.4 % (1) Calculated by dividing the net loss and LAE by the sum of net premiums earned and other insurance revenue. (2) Calculated by dividing commission and other acquisition expenses by the sum of net premiums earned and other insurance revenue. (3) Calculated by dividing general and administrative expenses by the sum of net premiums earned and other insurance revenue. (4) Calculated by adding together the commission and other acquisition expense ratio and general and administrative expense ratio. (5) Calculated by adding together the net loss and LAE ratio and the expense ratio. 3. Segment Information (continued) The following tables summarize the financial position of our reportable segments including the reconciliation to the Company's consolidated total assets at December 31, 2021 and 2020: December 31, 2021 Diversified Reinsurance AmTrust Reinsurance Total Reinsurance balances receivable, net $ 1,927 $ 17,471 $ 19,398 Reinsurance recoverable on unpaid losses 2,979 490,860 493,839 Deferred commission and other acquisition expenses 2,533 34,170 36,703 Loan to related party — 167,975 167,975 Restricted cash and cash equivalents and investments 83,143 499,004 582,147 Funds withheld receivable 34,952 601,460 636,412 Other assets 582 — 582 Total assets - reportable segments 126,116 1,810,940 1,937,056 Corporate assets — — 385,554 Total Assets $ 126,116 $ 1,810,940 $ 2,322,610 December 31, 2020 Diversified Reinsurance AmTrust Reinsurance Total Reinsurance balances receivable, net $ 5,560 $ — $ 5,560 Reinsurance recoverable on unpaid losses 4,658 519,941 524,599 Deferred commission and other acquisition expenses 6,171 45,732 51,903 Loan to related party — 167,975 167,975 Restricted cash and cash equivalents and investments 87,419 992,636 1,080,055 Funds withheld receivable 51,712 603,093 654,805 Other assets 860 — 860 Total assets - reportable segments 156,380 2,329,377 2,485,757 Corporate assets — — 462,698 Total Assets $ 156,380 $ 2,329,377 $ 2,948,455 The following table shows an analysis of gross and net premiums written and net premiums earned by geographic location for the years ended December 31, 2021 and 2020. In the case of reinsurance business assumed from AmTrust, the table refers to the location of the relevant AmTrust subsidiaries. For the Year Ended December 31, 2021 2020 Gross premiums written – North America $ (7,649) $ (10,979) Gross premiums written – Other (predominantly Europe) 18,587 42,368 Gross premiums written – Total $ 10,938 $ 31,389 Net premiums written – North America $ (7,320) $ (10,836) Net premiums written – Other (predominantly Europe) 17,723 39,268 Net premiums written – Total $ 10,403 $ 28,432 Net premiums earned – North America $ (6,948) $ (10,207) Net premiums earned – Other (predominantly Europe) 59,941 116,288 Net premiums earned – Total $ 52,993 $ 106,081 3. Segment Information (continued) The following table sets forth financial information relating to net premiums written by major line of business and reportable segment for the years ended December 31, 2021 and 2020: For the Year Ended December 31, 2021 2020 Net premiums written Total % of Total Total % of Total Diversified Reinsurance International $ 16,098 154.7 % $ 37,294 131.2 % Other — — % (36) (0.1) % Total Diversified Reinsurance 16,098 154.7 % 37,258 131.1 % AmTrust Reinsurance Small Commercial Business (6,445) (61.9) % (11,515) (40.5) % Specialty Program (876) (8.4) % (19) (0.1) % Specialty Risk and Extended Warranty 1,626 15.6 % 2,708 9.5 % Total AmTrust Reinsurance (5,695) (54.7) % (8,826) (31.1) % Total Net Premiums Written $ 10,403 100.0 % $ 28,432 100.0 % The following table sets forth financial information relating to net premiums earned by major line of business and reportable segment for the years ended December 31, 2021 and 2020: For the Year Ended December 31, 2021 2020 Net premiums earned Total % of Total Total % of Total Diversified Reinsurance International $ 27,681 52.2 % $ 47,883 45.1 % Other — — % (36) — % Total Diversified Reinsurance 27,681 52.2 % 47,847 45.1 % AmTrust Reinsurance Small Commercial Business (6,095) (11.5) % (10,938) (10.3) % Specialty Program (853) (1.6) % 33 — % Specialty Risk and Extended Warranty 32,260 60.9 % 69,139 65.2 % Total AmTrust Reinsurance 25,312 47.8 % 58,234 54.9 % Total Net Premiums Earned $ 52,993 100.0 % $ 106,081 100.0 %

Investments

Investments	12 Months Ended
	Dec. 31, 2021
Schedule of Investments [Abstract]
Investments	Investments As discussed in Note 2 — Significant Accounting Policies, the Company holds: (i) AFS portfolios of fixed maturity securities, carried at fair value; (ii) other investments, of which certain investments are carried at fair value and investments in direct lending entities are carried at cost less impairment; (iii) equity method investments; and (iv) funds held - directly managed. a) Fixed Maturities The amortized cost, gross unrealized gains and losses, and fair value of fixed maturities at December 31, 2021 and 2020 are as follows: December 31, 2021 Original or Gross Gross Fair value Fixed maturities: U.S. treasury bonds $ 59,989 $ — $ (110) $ 59,879 U.S. agency bonds – mortgage-backed 96,554 2,429 (193) 98,790 Non-U.S. government bonds 3,163 113 — 3,276 Asset-backed securities (1) 198,946 705 (5,093) 194,558 Corporate bonds 236,692 10,094 (6,144) 240,642 Total fixed maturity investments $ 595,344 $ 13,341 $ (11,540) $ 597,145 December 31, 2020 Original or Gross Gross Fair value Fixed maturities: U.S. treasury bonds $ 94,468 $ 34 $ — $ 94,502 U.S. agency bonds – mortgage-backed 272,124 9,439 (126) 281,437 Non-U.S. government bonds 8,641 1,067 — 9,708 Asset-backed securities (1) 184,227 1,611 (406) 185,432 Corporate bonds 604,463 40,904 (3,035) 642,332 Total fixed maturity investments $ 1,163,923 $ 53,055 $ (3,567) $ 1,213,411 (1) Asset-backed securities are comprised primarily of collateralized loan obligations. The contractual maturities of our fixed maturities are shown below. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Fixed maturities December 31, 2021 Amortized cost Fair value Maturity Due in one year or less $ 66,193 $ 65,742 Due after one year through five years 202,405 206,028 Due after five years through ten years 30,634 31,476 Due after ten years 612 551 299,844 303,797 U.S. agency bonds – mortgage-backed 96,554 98,790 Asset-backed securities (1) 198,946 194,558 Total fixed maturities $ 595,344 $ 597,145 (1) Asset-backed securities are comprised primarily of collateralized loan obligations. 4. Investments (continued) The following tables summarize fixed maturities in an unrealized loss position and the aggregate fair value and gross unrealized loss by length of time the security has continuously been in an unrealized loss position: Less than 12 Months 12 Months or More Total December 31, 2021 Fair Unrealized Fair Unrealized Fair Unrealized U.S. treasury bonds $ 59,879 $ (110) $ — $ — $ 59,879 $ (110) U.S. agency bonds – mortgage-backed 4,415 (193) — — 4,415 (193) Asset-backed securities (1) 117,148 (5,057) 5,064 (36) 122,212 (5,093) Corporate bonds 38,537 (2,775) 27,852 (3,369) 66,389 (6,144) Total temporarily impaired fixed maturity securities $ 219,979 $ (8,135) $ 32,916 $ (3,405) $ 252,895 $ (11,540) (1) Asset-backed securities are comprised primarily of collateralized loan obligations. At December 31, 2021, there were 44 securities in an unrealized loss position with a fair value of $252,895 and unrealized losses of $11,540. Of these securities in an unrealized loss position, there were 8 securities in our portfolio that have been in an unrealized loss position for twelve months or greater with a fair value of $32,916 and unrealized losses of $3,405. Less than 12 Months 12 Months or More Total December 31, 2020 Fair Unrealized Fair Unrealized Fair Unrealized U.S. agency bonds – mortgage-backed $ 19,360 $ (85) $ 5,646 $ (41) $ 25,006 $ (126) Asset-backed securities (1) 13,371 (217) 31,052 (189) 44,423 (406) Corporate bonds 31,839 (890) 65,296 (2,145) 97,135 (3,035) Total temporarily impaired fixed maturity securities $ 64,570 $ (1,192) $ 101,994 $ (2,375) $ 166,564 $ (3,567) (1) Asset-backed securities are comprised primarily of collateralized loan obligations. At December 31, 2020, there were 53 securities in an unrealized loss position with a fair value of $166,564 and unrealized losses of $3,567. Of these securities in an unrealized loss position, there were 35 securities in our portfolio that have been in an unrealized loss position for twelve months or greater with a fair value of $101,994 and unrealized losses of $2,375. OTTI The Company performs quarterly reviews of its fixed maturities in order to determine whether declines in fair value below the amortized cost basis were considered other-than-temporary in accordance with applicable guidance. At December 31, 2021, we determined that unrealized losses on fixed maturities were primarily due to changes in interest rates as well as the impact of foreign exchange rate changes on certain foreign currency denominated fixed maturities since their date of purchase. All fixed maturity securities continue to pay the expected coupon payments under the contractual terms of the securities. Any credit-related impairment related to fixed maturity securities that the Company does not intend to sell or is not more likely than not that the Company will be required to sell before its anticipated recovery of their amortized cost basis is recognized in net income, with the non-credit related impairment recognized in comprehensive income. Based on our analysis, our fixed maturity portfolio is of high credit quality and we believe the amortized cost basis of the securities will be ultimately recovered. The Company continually monitors the credit quality of the fixed maturity investments to assess if it is probable that it will receive the contractual or estimated cash flows in the form of principal and interest. For the year ended December 31, 2021, there was no impairment recognized on the Company's portfolio of fixed maturity securities, compared to $2,468 in OTTI charges recorded in earnings on four fixed maturity securities for the year ended December 31, 2020. 4. Investments (continued) The following tables summarize the credit ratings of our fixed maturity securities as at December 31, 2021 and 2020: December 31, 2021 Amortized cost Fair value % of Total U.S. treasury bonds $ 59,989 $ 59,879 10.0 % U.S. agency bonds 96,554 98,790 16.6 % AAA 161,179 156,706 26.2 % AA+, AA, AA- 38,999 39,140 6.6 % A+, A, A- 99,748 99,962 16.7 % BBB+, BBB, BBB- 126,770 129,618 21.7 % BB+ or lower 12,105 13,050 2.2 % Total fixed maturities (1) $ 595,344 $ 597,145 100.0 % December 31, 2020 Amortized cost Fair value % of Total U.S. treasury bonds $ 94,468 $ 94,502 7.8 % U.S. agency bonds 272,124 281,437 23.2 % AAA 96,453 97,515 8.0 % AA+, AA, AA- 114,751 118,534 9.8 % A+, A, A- 265,725 281,364 23.2 % BBB+, BBB, BBB- 274,406 292,493 24.1 % BB+ or lower 45,996 47,566 3.9 % Total fixed maturities (1) $ 1,163,923 $ 1,213,411 100.0 % (1) Based on Standard & Poor’s ("S&P"), or equivalent, ratings b) Other Investments and Equity Method Investments Certain of the Company's other investments and equity method investments are subject to restrictions on redemptions and sales that are determined by the governing documents, which could limit our ability to liquidate those investments. These restrictions may include lock-ups, redemption gates, restricted share classes, restrictions on the frequency of redemption and notice periods. A gate is the ability to deny or delay a redemption request. Certain other investments and equity method investments may not have any restrictions governing their sale, but there is no active market and no guarantee that we will be able to execute a sale in a timely manner. In addition, even if certain other investments and equity method investments are not eligible for redemption or sales are restricted, the Company may still receive income distributions from those investments. Other investments The table below shows the composition of the Company's other investments as at December 31, 2021 and 2020: December 31, 2021 2020 Carrying Value % of Total Carrying Value % of Total Privately held equity investments $ 52,013 36.7 % $ 22,844 35.8 % Private credit funds 38,656 27.3 % 1,301 2.0 % Private equity funds 6,906 4.9 % 3,044 4.8 % Publicly traded equity investments 1,174 0.8 % — — % Total other investments at fair value 98,749 69.7 % 27,189 42.6 % Investments in direct lending entities (at cost) 42,976 30.3 % 36,571 57.4 % Total other investments $ 141,725 100.0 % $ 63,760 100.0 % The Company's investments in direct lending entities of $42,976 at December 31, 2021 (2020 - $36,571) are carried at cost less impairment, if any, with any indication of impairment recognized in net income when determined. Please see "Note 5(d) - Fair Value Measurements" for additional information regarding this investment. 4. Investments (continued) The Company's unfunded commitments on other investments held at December 31, 2021 and 2020 were as follows: December 31, 2021 2020 Amount % of Total Amount % of Total Private equity funds $ 10,762 17.7 % $ 326 0.5 % Private credit funds 22,236 36.7 % 33,584 53.0 % Investments in direct lending entities 13,216 21.8 % 19,823 31.3 % Privately held equity investments 14,463 23.8 % 9,580 15.2 % Total unfunded commitments on other investments $ 60,677 100.0 % $ 63,313 100.0 % Equity Method Investments The equity method investments include hedge fund investments, real estate investments and other investments. The table below shows the carrying value of the Company's equity method investments as at December 31, 2021 and 2020: December 31, 2021 2020 Carrying Value % of Total Carrying Value % of Total Real estate investments $ 44,050 52.6 % $ — — % Hedge fund investments 32,929 39.3 % 29,435 68.2 % Other investments 6,763 8.1 % 13,701 31.8 % Total equity method investments $ 83,742 100.0 % $ 43,136 100.0 % The equity method investments above include limited partnerships which are variable interests issued by variable interest entities ("VIEs"). The Company does not have the power to direct the activities that are most significant to the economic performance of these VIEs, therefore, the Company is not the primary beneficiary of these VIEs. T he Company is deemed to have limited influence over the operating and financial policies of the investee and accordingly, these investments are reported under the equity method of accounting. In applying the equity method of accounting, the investments are initially recorded at cost and are subsequently adjusted based on the Company’s proportionate share of the investee's net income or loss. Generally, the maximum exposure to loss on these interests is limited to the amount of commitment made by the Company. However, certain of the Company's equity method investments are related to real estate joint ventures with interests in multi-property projects with varying strategies ranging from the development of properties to the ownership of income-producing properties. In certain of these joint ventures, the Company has provided certain indemnities, guarantees and commitments to certain parties su ch that it may be required to make payments now or in the future and are more fully described (as applicable) in "Note 11 - Commitments, Contingencies and Guarantees" in these consolidated financial statements. The Company's remaining unfunded commitments on equity method investments as at December 31, 2021 was $25,950. c) Net Investment Income Net investment income was derived from the following sources for the years ended December 31, 2021 and 2020: For the Year Ended December 31, 2021 2020 Fixed maturities $ 19,146 $ 36,258 Income on funds withheld 10,623 15,942 Interest income from loan to related party 3,492 3,996 Cash and cash equivalents and other investments 1,100 1,402 34,361 57,598 Investment expenses (2,348) (2,837) Net investment income $ 32,013 $ 54,761 d) Net Realized and Unrealized Gains (Losses) on Investment Realized gains or losses on the sale of investments are determined on the basis of the first in first out cost method. The following tables show the net realized and unrealized gains (losses) on investment included in the Consolidated Statements of Income for the years ended December 31, 2021 and 2020: 4. Investments (continued) For the Year Ended December 31, 2021 Gross gains Gross losses Net Fixed maturities $ 9,838 $ (741) $ 9,097 Other investments 8,074 (4,523) 3,551 Net realized and unrealized gains (losses) on investment $ 17,912 $ (5,264) $ 12,648 For the Year Ended December 31, 2020 Gross gains Gross losses Net Fixed maturities $ 24,101 $ (1) $ 24,100 Other investments 392 (19) 373 Net realized and unrealized gains (losses) on investment $ 24,493 $ (20) $ 24,473 Realized gains and losses from other investments detailed in the tables above include both sales of securities and unrealized gains and losses from fair value changes. The unrealized gains recognized in net income for other investments still held at December 31, 2021 and 2020, respectively, were as follows: For the Year Ended December 31, 2021 2020 Net gains recognized for other investments during the period $ 3,551 $ — Less: Net gains recognized for other investments divested during the period (3,377) — Net unrealized gains recognized for other investments still held at reporting date $ 174 $ — Proceeds from sales of fixed maturities were $477,920 and $505,396 for the years ended December 31, 2021, and 2020, respectively. Net unrealized gains on fixed maturity investments were as follows at December 31, 2021 and 2020, respectively: December 31, 2021 2020 Fixed maturities $ 1,801 $ 49,488 Equity method investments (4,414) — Total net unrealized (losses) gains (2,613) 49,488 Deferred income tax (80) (131) Net unrealized (losses) gains, net of deferred income tax $ (2,693) $ 49,357 Change, net of deferred income tax $ (52,050) $ 27,361 e) Restricted Cash and Cash Equivalents and Investments The Company is required to provide collateral for its reinsurance liabilities under various reinsurance agreements and utilizes trust accounts to collateralize business with reinsurance counterparties. The assets in trust as collateral are mostly cash and highly rated fixed maturities. The fair values of these restricted assets were as follows at December 31, 2021 and 2020: December 31, 2021 2020 Restricted cash – third party agreements $ 19,177 $ 20,547 Restricted cash – related party agreements 20,242 41,239 Total restricted cash 39,419 61,786 Restricted investments – in trust for third party agreements at fair value (amortized cost: 2021 – $48,860; 2020 – $63,253) 48,845 63,281 Restricted investments – in trust for related party agreements at fair value (amortized cost: 2021 – $493,128; 2020 – $913,466) 493,883 954,988 Total restricted investments 542,728 1,018,269 Total restricted cash and investments $ 582,147 $ 1,080,055

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements a) Fair Values of Financial Instruments measured at fair value ASC 825, "Disclosure About Fair Value of Financial Instruments" , requires all entities to disclose the fair value of their financial instruments for both assets and liabilities recognized and not recognized within the balance sheet, and for which it is practicable to estimate fair value. The following describes the valuation techniques used by the Company to determine the fair value of financial instruments measured at fair value held at December 31, 2021 and 2020. U.S. government and U.S. agency — includes bonds issued by the U.S. Treasury, the Federal Home Loan Bank, the Federal Home Loan Mortgage Corporation, Government National Mortgage Association, Federal National Mortgage Association and the Federal Farm Credit Banks Funding Corporation. The fair values of U.S. treasury bonds are based on quoted market prices in active markets, and are included in the Level 1 fair value hierarchy. We believe the market for U.S. treasury bonds is an actively traded market given the high level of daily trading volume. The fair values of U.S. agency bonds are determined using the spread above the risk-free yield curve. As the yields for the risk-free yield curve and the spreads for these securities are observable market inputs, the fair values of U.S. agency bonds are included in the Level 2 fair value hierarchy. Non-U.S. government bonds — These securities are generally priced by independent pricing services. The Pricing Service may use current market trades for securities with similar quality, maturity and coupon. If no such trades are available, the Pricing Service typically uses analytical models which may incorporate spreads, interest rate data and market/sector news. As the significant inputs used to price non-U.S. government bonds are observable market inputs, the fair values of non-U.S. government and bonds are included in the Level 2 fair value hierarchy. Asset-backed securities — These securities comprise CMBS and CLO originated by a variety of financial institutions that on acquisition are rated BBB-/Baa3 or higher. These securities are priced by independent pricing services and brokers. The pricing provider applies dealer quotes and other available trade information, prepayment speeds, yield curves and credit spreads to the valuation. As the significant inputs used to price the CMBS and CLO are observable market inputs, the fair values are included in the Level 2 fair value hierarchy. Corporate and municipal bonds — are bonds issued by corporations, U.S. state and municipality entities or agencies. that on acquisition are rated BBB-/Baa3 or higher. These securities are generally priced by independent pricing services. The credit spreads are sourced from broker/dealers, trade prices and new issue market. Where pricing is unavailable from pricing services, custodian pricing or non-binding quotes are obtained from broker-dealers to estimate fair values. As significant inputs used to price corporate and municipal bonds are observable market inputs, fair values are included in the Level 2 fair value hierarchy. Other investments — These investments are comprised of the following types of investments: • Privately held equity investments: These are direct equity investments in common and preferred stock of privately held entities. The fair values are estimated using quarterly financial statements and/or recent private market transactions and thus included under Level 3 of the fair value hierarchy due to unobservable market data used for valuation. • Private credit funds: These are privately held equity investments in common stock of entities that lend money valued using the most recently available or quarterly NAV statements as provided by the external fund manager or third-party administrator and therefore measured using the NAV as a practical expedient. • Private equity funds: These are comprised of private equity funds, private equity co-investments with sponsoring entities and investments in real estate limited partnerships and joint ventures . The fair value is estimated based on the most recently available NAV as advised by the external fund manager or third-party administrator. The fair values are therefore measured using the NAV as a practical expedient. • Publicly traded equity investments - The fair value of publicly traded equity securities is priced by pricing services, reflecting the closing price quoted for the final trading day of the period. The common stock is carried at fair value using observable market pricing data and is included in the Level 1 fair value hierarchy. Any unrealized gains or losses on the investment is recorded in net income in the period in which they occur. b) Fair Value Hierarchy The Company’s estimates of fair value for its financial assets and financial liabilities are based on the framework established in ASC 820. The framework is based on the inputs used in valuation and gives the highest priority to quoted prices in active markets and requires that observable inputs be used in the valuation methodology whenever available. In determining the level of the hierarchy in which the estimate is disclosed, the highest priority is given to unadjusted quoted prices in active trading markets and the lowest priority to unobservable inputs that reflect significant market assumptions. 5. Fair Value Measurements (continued) At December 31, 2021 and 2020, the Company classified its financial instruments measured at fair value on a recurring basis in the following valuation hierarchy: December 31, 2021 Quoted Prices Significant Significant Fair Value Based on NAV Practical Expedient Total Fair Fixed maturities U.S. treasury bonds $ 59,879 $ — $ — $ — $ 59,879 U.S. agency bonds – mortgage-backed — 98,790 — — 98,790 Non-U.S. government bonds — 3,276 — — 3,276 Asset-backed securities (1) — 194,558 — — 194,558 Corporate bonds — 240,642 — — 240,642 Other investments 1,174 — 27,094 70,481 98,749 Total $ 61,053 $ 537,266 $ 27,094 $ 70,481 $ 695,894 As a percentage of total assets 2.6 % 23.1 % 1.2 % 3.0 % 29.9 % December 31, 2020 Quoted Prices Significant Significant Fair Value Based on NAV Practical Expedient Total Fair Fixed maturities U.S. treasury bonds $ 94,502 $ — $ — $ — $ 94,502 U.S. agency bonds – mortgage-backed — 281,437 — — 281,437 Non-U.S. government bonds — 9,708 — — 9,708 Asset-backed securities (1) — 185,432 — — 185,432 Corporate bonds — 642,332 — — 642,332 Other investments — — 22,844 4,345 27,189 Total $ 94,502 $ 1,118,909 $ 22,844 $ 4,345 $ 1,240,600 As a percentage of total assets 3.2 % 37.9 % 0.8 % 0.1 % 42.0 % (1) Asset-backed securities is comprised primarily of collateralized loan obligations. The Company utilizes the Pricing Service to assist in determining the fair value of its investments; however, management is ultimately responsible for all fair values presented in the Company’s financial statements. This includes responsibility for monitoring the fair value process, ensuring objective and reliable valuation practices, and pricing of assets and liabilities and use of pricing sources. The Company analyzes and reviews the information and prices received from the Pricing Service to ensure that the prices provided represent a reasonable estimate of fair value. The Pricing Service was utilized to estimate fair value measurements for 99.0% and 99.1% of our fixed maturities at December 31, 2021 and 2020, respectively. The Pricing Service utilizes market quotations for fixed maturity securities that have quoted market prices in active markets. Since fixed maturities other than U.S. treasury bonds generally do not trade actively on a daily basis, the Pricing Service prepares estimates of fair value measurements using relevant market data, benchmark curves, sector groupings and matrix pricing and these have been classified as Level 2 within the fair value hierarchy. At December 31, 2021 and 2020, approximately 1.0% and 0.9%, respectively, of our fixed maturities were valued using the market approach. At December 31, 2021, one security or $6,225 (2020 - two securities or $10,809) of fixed maturities classified as Level 2 was priced using a quotation from a broker and/or custodian as opposed to the Pricing Service due to lack of information available. At December 31, 2021 and 2020, the Company has not adjusted any pricing provided to it based on the review performed by its investment managers. During the year ended December 31, 2021, the Company transferred its equity investment in an insurtech start-up company focused on technological advancement in the automobile insurance industry out of Level 3 within the fair value hierarchy and into Level 1 due to the recent completion of its initial public offering. There were no transfers to or from Level 3 during the year ended December 31, 2020. 5. Fair Value Measurements (continued) c) Level 3 Financial Instruments At December 31, 2021, the Company holds Level 3 financial instruments of $27,094 (2020 - $22,844) which includes privately held equity investments in common and preferred stocks. The fair values of these investments are estimated using quarterly unaudited financial statements or recent private market transactions, where applicable. Due to significant unobservable inputs in these valuations, the Company classifies their fair values as Level 3 within the fair value hierarchy . The following table provides a summary of quantitative information regarding the significant unobservable inputs used in determining the fair value of other investments measured at fair value on a recurring basis under the Level 3 classification at December 31, 2021: Fair Value Valuation Technique Unobservable Inputs Range Privately held equity investments $ 25,294 Quarterly financial statements Estimated maturity dates 1.0 years to 3.0 years Privately held equity investments 1,800 Recent market transactions Liquidity discount rates Total Level 3 investments $ 27,094 The following table shows the reconciliation of the beginning and ending balances for other investments measured at fair value on a recurring basis using Level 3 inputs for the year ended December 31, 2021 and 2020. The Company includes any related interest and dividend income in net investment income and thus, are excluded from the reconciliation in the table below: For the Year Ended December 31, 2021 2020 Balance - beginning of period $ 22,844 $ 1,800 Purchases 5,250 21,044 Transfers out of Level 3 (1,000) — Total Level 3 investments - end of period $ 27,094 $ 22,844 d) Financial Instruments Disclosed, But Not Carried, at Fair Value The fair value of financial instruments accounting guidance also applies to financial instruments disclosed, but not carried at fair value, except for certain financial instruments related to insurance contracts. At December 31, 2021, the carrying values of cash and cash equivalents (including restricted amounts), accrued investment income, reinsurance balances receivable, loan to related party and certain other assets and liabilities approximate their fair values due to their inherent short duration. As these financial instruments are not actively traded, the fair values of these financial instruments are classified as Level 2. The investments made by direct lending entities are carried at cost less impairment, if any, which approximates fair value. The fair value estimates of these investments are not based on observable market data and, as a result, have been categorized as Level 3. The fair values of the Senior Notes (as defined in "Note 7 - Long-Term Debt" ) are based on indicative market pricing obtained from a third-party pricing service which uses observable market inputs, and therefore, the fair values of these liabilities are classified as Level 2. The following table presents the respective carrying value and fair value for the Senior Notes as at December 31, 2021 and 2020: December 31, 2021 December 31, 2020 Carrying Value Fair Value Carrying Value Fair Value Senior Notes - MHLA – 6.625% $ 110,000 $ 94,820 $ 110,000 $ 90,772 Senior Notes - MHNC – 7.75% 152,500 140,300 152,500 132,126 Total Senior Notes $ 262,500 $ 235,120 $ 262,500 $ 222,898

Shareholders' Equity

Shareholders' Equity	12 Months Ended
	Dec. 31, 2021
Stockholders' Equity Note [Abstract]
Shareholders' Equity	Shareholders’ Equity At December 31, 2021, the aggregate authorized share capital of the Company is 150,000,000 shares from which 92,316,107 common shares were issued, of which 86,467,242 common shares are outstanding, and 18,600,000 preference shares were issued, all of which are outstanding. The remaining 39,083,893 shares are undesignated at December 31, 2021. Excluding the preference shares held by Maiden Reinsurance, a total of 6,368,393 preference shares are held by non-affiliates. a) Common shares The Company's common shares have a par value of $0.01 per share. Our common shareholders are entitled to receive dividends and allocated one vote per common share subject to downward adjustment under certain circumstances. For the years ended December 31, 2021 and 2020, the Company's Board of Directors did not declare any dividends to common shareholders. The following table shows the summary of changes in the Company's common shares outstanding: For the Year Ended December 31, 2021 2020 Outstanding shares – January 1 84,801,161 83,148,458 Issuance of vested restricted shares and restricted share units 2,500,932 1,653,537 Shares repurchased (834,851) (834) Outstanding shares – December 31 86,467,242 84,801,161 b) Preference shares On March 3, 2021, the Company's Board of Directors approved the repurchase, including the repurchase by Maiden Reinsurance in accordance with its investment guidelines, of up to $100,000 of the Company's preference shares from time to time at market prices in open market purchases or as may be privately negotiated. On May 6, 2021, the Company's Board of Directors approved the additional repurchase, including the repurchase by Maiden Reinsurance in accordance with its investment guidelines (as may be amended), of up to $50,000 of the Company's preference shares from time to time at market prices in open market purchases or as may be privately negotiated. The authorizations that were approved on March 3, 2021 and May 6, 2021 as described above are collectively referred to as the "2021 Preference Share Repurchase Program". The following table shows the summary of the Company's preference shares repurchases made during the years ended December 31, 2021 and 2020: 2021 2020 Number of shares purchased Average price of shares purchased Number of shares purchased Average price of shares purchased Series A 3,519,093 $ 14.74 545,218 $ 10.50 Series C 3,026,764 14.36 1,203,466 10.50 Series D 2,858,155 14.27 1,078,911 10.50 Total 9,404,012 14.48 2,827,595 10.50 Total price paid $ 136,155 $ 29,690 Gain on purchase $ 90,998 $ 38,195 The following table shows the summary of changes for the Company's preference shares outstanding (including the total of the Company's preference shares held by Maiden Reinsurance pursuant to the 2020 Tender Offer and the 2021 Preference Share Repurchase Program) at December 31, 2021: Series A Series C Series D Total Outstanding shares issued by Maiden Holdings 6,000,000 6,600,000 6,000,000 18,600,000 Less: Total shares held by Maiden Reinsurance - December 31, 2021 4,064,311 4,230,230 3,937,066 12,231,607 Total shares held by non-affiliates December 31, 2021 1,935,689 2,369,770 2,062,934 6,368,393 Percentage held by Maiden Reinsurance - December 31, 2021 67.7 % 64.1 % 65.6 % 65.8 % The Company had a remaining authorization of $13,845 for preference share repurchases at December 31, 2021. The Company has continued to repurchase preference shares subsequent to December 31, 2021 pursuant to a Rule 10b5-1 plan. Please see "Note 16 - Subsequent Events" for details. 6. Shareholders’ Equity (continued) Dividends on the Series A, Series C and Series D preference shares are non-cumulative. Consequently, in the event a dividend is not declared on the preference shares for any dividend period, holders will not be entitled to receive a dividend for such period, and such undeclared dividend will not accrue and will not be payable. The holders of Series A, Series C and Series D preference shares will be entitled to receive dividend payments only when, as and if declared by the Company's Board of Directors or a duly authorized committee of the Board of Directors per the terms of the certificates of designations. During any dividend period, so long as any Series A, Series C and Series D preference shares remain outstanding, unless the full dividends for the latest completed dividend period on all outstanding preference shares have been declared and paid, no dividend shall be paid or declared on the common shares. The holders of the preference share series have no voting rights other than the right to elect up to two directors if preference share dividends are not declared and paid for six or more dividend periods. For the years ended December 31, 2021 and 2020, the Company did not declare or pay dividends on any of the preference share series. The Company's Board of Directors has not authorized or declared a dividend since the dividend period starting on December 1, 2018 with respect to the Series A, Series C and Series D preference shares. At March 15, 2020, because preference share dividends were not declared and paid for six quarterly dividend periods, holders of record with at least 20% of voting power of any of the preference shares Series A, C and D were collectively entitled to vote for the election of a total of two additional members of the Company's Board. On December 15, 2020, holders of the Company's preference share Series A, C and D collectively elected two additional members to the Company's Board, though these directors were not renominated for re-election at the 2021 Annual General Meeting of Shareholders by qualifying preference shareholders. Preference Shares - Series A On August 22, 2012, the Company issued and authorized a total of 6,000,000 8.25% Preference Shares – Series A (the "Series A"), par value $0.01 per share, at a price of $25 per preference share. The Series A have no stated maturity date and are redeemable in whole or in part at the sole option of the Company any time after August 29, 2017 at a redemption price of $25 per preference share plus any declared and unpaid dividends, without accumulation of any undeclared dividends. Preference Shares – Series C On November 25, 2015, the Company issued and authorized a total of 6,600,000 7.125% Preference Shares – Series C (the "Series C"), par value $0.01 per share, at a price of $25 per preference share. The Series C shares have no stated maturity date and are redeemable in whole or in part at the sole option of the Company any time after December 15, 2020 at a redemption price of $25 per preference share plus any declared and unpaid dividends, without accumulation of any undeclared dividends. Preference Shares – Series D On June 15, 2017, the Company issued and authorized a total of 6,000,000, 6.7% Preference Shares – Series D (the "Series D"), par value $0.01 per share, at a price of $25 per preference share. The Series D have no stated maturity date and are redeemable in whole or in part at the sole option of the Company any time after June 15, 2022, subject to certain regulatory restrictions at a redemption price of $25 per preference share plus any declared and unpaid dividends, without accumulation of any undeclared dividends. Additionally, at any time prior to June 15, 2022, the Company may redeem all but not less than all of the Series D at a redemption price of $25 per share, plus declared and unpaid dividends, if any, to, but excluding, the date of redemption subject to certain conditions and regulatory approval. c) Treasury Shares On February 21, 2017, the Company's Board of Directors approved the repurchase of up to $100,000 of the Company's common shares from time to time at market prices. At December 31, 2021 and 2020, the Company has a remaining authorization of $74,245 for common share repurchases. No repurchases were made during the years ended December 31, 2021 and 2020 under the common share repurchase plan. During the year ended December 31, 2021, the Company repurchased a total of 834,851 (2020 - 834) common shares at an average price per share of $2.97 (2020 - $1.13) from employees, which represent tax withholding in respect of tax obligations on the vesting of both non-performance-based and discretionary performance-based restricted shares. 6. Shareholders’ Equity (continued) d) Accumulated Other Comprehensive (Loss) Income The following tables set forth financial information regarding the changes in the balances of each component of AOCI for the years ended December 31, 2021 and 2020: For the Year Ended December 31, 2021 Change in net unrealized gains on investment Foreign currency translation adjustments Total Beginning balance $ 49,357 $ (25,500) $ 23,857 Other comprehensive (loss) income before reclassifications (33,263) 15,978 (17,285) Amounts reclassified from AOCI to net income, net of tax (18,787) — (18,787) Net current period other comprehensive (loss) income (52,050) 15,978 (36,072) Ending balance, Maiden shareholders $ (2,693) $ (9,522) $ (12,215) For the Year Ended December 31, 2020 Change in net unrealized gains on investment Foreign currency translation adjustments Total Beginning balance $ 21,996 $ (4,160) $ 17,836 Other comprehensive income (loss) before reclassifications 40,008 (21,340) 18,668 Amounts reclassified from AOCI to net income, net of tax (12,647) — (12,647) Net current period other comprehensive income (loss) 27,361 (21,340) 6,021 Ending balance, Maiden shareholders $ 49,357 $ (25,500) $ 23,857 The table below presents details about amounts reclassified from AOCI for the years ended December 31, 2021 and 2020: Consolidated Statements of Income Line Item that Includes Reclassification For the Year Ended December 31, 2021 2020 Net realized gains on investment $ 18,787 $ 15,115 Net impairment losses recognized in earnings — (2,468) Total before tax 18,787 12,647 Income tax expense — — Total after tax $ 18,787 $ 12,647

Long-Term Debt

Long-Term Debt	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Senior Notes At December 31, 2021 and 2020, both Maiden Holdings and its wholly owned subsidiary, Maiden NA, had outstanding publicly-traded senior notes which were issued in 2016 ("2016 Senior Notes") and 2013 ("2013 Senior Notes"), respectively (collectively "Senior Notes"). The 2013 Senior Notes issued by Maiden NA are fully and unconditionally guaranteed by Maiden Holdings. The Senior Notes are unsecured and unsubordinated obligations of the Company. The following tables detail the issuances outstanding at December 31, 2021 and 2020: December 31, 2021 2016 Senior Notes 2013 Senior Notes Total Principal amount $ 110,000 $ 152,500 $ 262,500 Less: unamortized issuance costs 3,463 3,690 7,153 Carrying value $ 106,537 $ 148,810 $ 255,347 December 31, 2020 2016 Senior Notes 2013 Senior Notes Total Principal amount $ 110,000 $ 152,500 $ 262,500 Less: unamortized issuance costs 3,516 3,858 7,374 Carrying value $ 106,484 $ 148,642 $ 255,126 Other details: Original debt issuance costs $ 3,715 $ 5,054 Maturity date June 14, 2046 December 1, 2043 Earliest redeemable date (for cash) June 14, 2021 December 1, 2018 Coupon rate 6.625 % 7.75 % Effective interest rate 7.07 % 8.04 % The interest expense incurred on the Senior Notes for the year ended December 31, 2021 was $19,106 (2020 - $19,106), of which $1,342 was accrued at both December 31, 2021 and 2020, respectively. The issuance costs related to the Senior Notes were capitalized and are being amortized over the effective life of the Senior Notes. The amortization expense was $221 for the year ended December 31, 2021 (2020 - $218). Under the terms of the 2013 Senior Notes, the 2013 Senior Notes can be redeemed, in whole or in part, at Maiden NA's option at any time and from time to time, until maturity at a redemption price equal to 100% of the principal amount of the notes to be redeemed plus accrued but unpaid interest on the principal amount being redeemed to, but not including, the redemption date. Maiden NA is required to give at least thirty days and not more than sixty days' notice prior to the redemption date. Under the terms of the 2016 Senior Notes, the 2016 Senior Notes can be redeemed, in whole or in part, at Maiden Holdings' option at any time and from time to time, until maturity at a redemption price equal to 100% of the principal amount of the notes to be redeemed plus accrued but unpaid interest on the principal amount being redeemed to, but not including, the redemption date. Maiden Holdings is required to give at least thirty days and not more than sixty days notice prior to the redemption date.

Reinsurance

Reinsurance	12 Months Ended
	Dec. 31, 2021
Reinsurance Disclosures [Abstract]
Reinsurance	Reinsurance The Company uses reinsurance and retrocessional agreements ("ceded reinsurance") to mitigate volatility, reduce its exposure to certain risks and provide capital support. Ceded reinsurance provides for the recovery of a portion of loss and LAE under certain circumstances without relieving the Company of its obligations to the policyholders. The Company remains liable to the extent that any of its reinsurers or retrocessionaires fails to meet their obligations. Loss and LAE incurred and premiums earned are reported after deduction for ceded reinsurance. In the event that one or more of our reinsurers or retrocessionaires are unable to meet their obligations under these agreements, the Company would not realize the full value of the reinsurance recoverable balances. The effect of ceded reinsurance on net premiums written and earned and on net loss and LAE for the years ended December 31, 2021 and 2020 was as follows: For the Year Ended December 31, 2021 2020 Premiums written Direct $ 21,866 $ 19,550 Assumed (10,928) 11,839 Ceded (535) (2,957) Net $ 10,403 $ 28,432 Premiums earned Direct $ 22,857 $ 19,711 Assumed 31,497 89,461 Ceded (1,361) (3,091) Net $ 52,993 $ 106,081 Loss and LAE Gross loss and LAE $ 9,344 $ 57,146 Loss and LAE ceded (2,037) (15,347) Net $ 7,307 $ 41,799 The Company's reinsurance recoverable on unpaid losses balance as at December 31, 2021 was $562,845 (2020 - $592,571) presented in the Consolidated Balance Sheets. At December 31, 2021 and 2020, the Company had no valuation allowance against reinsurance recoverable on unpaid losses. On December 27, 2018, Cavello Bay Reinsurance Limited ("Cavello") and Maiden Reinsurance entered into a retrocession agreement pursuant to which certain assets and liabilities associated with the U.S. treaty reinsurance business held by Maiden Reinsurance were 100.0% retroceded to Cavello in exchange for a ceding commission. The reinsurance recoverable on unpaid losses due from Cavello under this retrocession agreement was $69,006 at December 31, 2021 (2020 - $67,972). On July 31, 2019, Maiden Reinsurance and Cavello entered into the LPT/ADC Agreement, pursuant to which Cavello assumed the loss reserves as of December 31, 2018 associated with the AmTrust Quota Share in excess of a $2,178,535 retention up to $600,000, in exchange for a retrocession premium of $445,000. The $2,178,535 retention is subject to adjustment for paid losses subsequent to December 31, 2018. The LPT/ADC Agreement provides Maiden Reinsurance with $155,000 in adverse development cover over its carried AmTrust Quota Share loss reserves at December 31, 2018. The LPT/ADC Agreement meets the criteria for risk transfer and is thus accounted for as retroactive reinsurance. Cumulative ceded losses exceeding $445,000 are recognized as a deferred gain liability and amortized into income over the settlement period of the ceded reserves in proportion to cumulative losses collected over the estimated ultimate reinsurance recoverable. The amount of the deferral is recalculated each period based on loss payments and updated estimates. Consequently, cumulative adverse development subsequent to December 31, 2018 may result in significant losses from operations until periods when the deferred gain is recognized as a benefit to earnings. As of December 31, 2021, the reinsurance recoverable on unpaid losses under the retroactive reinsurance agreement was $490,860 while the deferred gain liability under the LPT/ADC Agreement was $45,860 (December 31, 2020 - $519,941 and $74,941, respectively). 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 2024. Cavello provided collateral in the form of a letter of credit in the amount of $445,000 to AmTrust under the LPT/ADC Agreement and Cavello is subject to additional collateral funding requirements as explained in "Note 10 — Related Party Transactions" . As of December 31, 2021, the amount of collateral required was $401,642. Under the terms of the LPT/ADC Agreement, the covered losses associated with the Commutation and Release Agreement with AmTrust 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 $312,786. Cavello's parent company, Enstar Group Limited ("Enstar"), has credit ratings of BBB from both Standard & Poor's and Fitch Ratings at December 31, 2021.

Reserve for Loss and Loss Adjus

Reserve for Loss and Loss Adjustment Expenses	12 Months Ended
	Dec. 31, 2021
Insurance [Abstract]
Reserve for Loss and Loss Adjustment Expenses	Reserve for Loss and Loss Adjustment Expenses General The Company uses both historical experience and industry-wide loss development factors to provide a reasonable basis for estimating future losses. In the future, certain events may be beyond the control of management, such as changes in law, judicial interpretations of law, and rates of inflation, which may favorably or unfavorably impact the ultimate settlement of the Company’s loss and LAE reserves. The anticipated effect of inflation is implicitly considered when estimating liabilities for loss and LAE. While anticipated changes in claim costs due to inflation are considered in estimating the ultimate claim costs, changes in the average severity of claims are caused by a number of factors that vary with the individual type of policy written. Ultimate losses are projected based on historical trends adjusted for implemented changes in underwriting standards, claims handling, policy provisions, and general economic trends. Those anticipated trends are monitored based on actual development and are modified if necessary. The reserving process begins with the collection and analysis of paid losses and incurred claims data for each of the Company's contracts. While reserves are mostly reviewed on a contract by contract basis, paid loss and incurred claims data is also aggregated into reserving segments. The segmental data is disaggregated by reserving class and further disaggregated by either accident year (i.e. the year in which the loss event occurred) or by underwriting year (i.e. the year in which the contract generating the premium and losses incepted). In cases where the Company uses underwriting year information, reserves are subsequently allocated to the respective accident year. The reserve for loss and LAE comprises: December 31, 2021 2020 Reserve for reported loss and LAE $ 851,950 $ 998,691 Reserve for losses incurred but not reported ("IBNR") 637,423 894,608 Reserve for loss and LAE $ 1,489,373 $ 1,893,299 The following table represents a reconciliation of the beginning and ending gross and net loss and LAE reserves: For the Year Ended December 31, 2021 2020 Gross loss and LAE reserves, January 1 $ 1,893,299 $ 2,439,907 Less: reinsurance recoverable on unpaid losses, January 1 592,571 623,422 Net loss and LAE reserves, January 1 1,300,728 1,816,485 Net incurred losses related to: Current year 34,912 58,332 Prior years (27,605) (16,533) 7,307 41,799 Net paid losses related to: Current year (10,026) (22,405) Prior years (389,231) (608,324) (399,257) (630,729) Retroactive ceded reinsurance 29,081 38,009 Retroactive assumed reinsurance 14,825 — Effect of foreign exchange rate movements (26,156) 35,164 Net loss and LAE reserves, December 31 926,528 1,300,728 Reinsurance recoverable on unpaid losses, December 31 562,845 592,571 Gross loss and LAE reserves, December 31 $ 1,489,373 $ 1,893,299 Actuarial Methods Used to Estimate Loss and LAE Reserves The Company utilizes a variety of standard actuarial methods in its analysis of loss reserves. The selections from these various methods are based on the loss development characteristics of the specific line of business and significant actuarial judgment. The actuarial methods utilized include: The Expected Loss Ratio ("ELR") method is a technique that is multiplicative and applies an expected loss ratio to premium earned to yield the estimated ultimate losses. The ELR assumption is generally derived from pricing information and historical experience of the business. This method is frequently used for the purpose of stability in the early valuations of an underwriting year with large and uncertain loss development factors. This technique does not take into account actual loss emergence for the underwriting year being projected. As an underwriting year matures and actual loss experience becomes more credible, other methods may be applied in determining the estimated ultimate losses. 9. Reserve for Loss and Loss Adjustment Expenses (continued) The Loss Development ("LD") method is a reserving method in which ultimate losses are estimated by applying a loss development factor to actual reported (or paid) loss experience. This method fully utilizes actual experience. Multiplication of underwriting year actual reported (or paid) losses by its respective development factor produces the estimated ultimate losses. The LD method is based upon the assumption that the relative change in a given underwriting year’s losses from one evaluation point to the next is similar to the relative change in prior underwriting years’ losses at similar evaluation points. In addition, this method is based on the assumption that the reserving and payment patterns as well as the claim handling procedures have not changed substantially over time. In the case where changes to the payment patterns or the claim handling procedures are identified, historical losses are adjusted to the current basis, and development factors are selected based on the relative change of the adjusted losses (the Berquist Sherman method is one example of this approach). When a company has a sufficiently reliable loss development history, a development pattern based on the company’s historical indications may be used to develop losses to ultimate values. The Bornhuetter-Ferguson ("BF") reserving technique is used for long-tailed or lower frequency, more volatile lines. It is also useful in situations where the reported loss experience is relatively immature and/or lacks sufficient credibility for the application of methods that are more heavily reliant on emerged experience. The BF method is an additive IBNR method that combines the ELR and LD techniques by splitting the expected loss into two pieces - expected reported (or paid) losses and expected unreported (or unpaid) losses. Expected unreported (unpaid) losses, estimated by the use of loss development factors, are added to the current actual reported (or paid) losses to produce an estimate of ultimate losses by underwriting year. The BF method introduces an element of stability that moderates the impact of inconsistent changes in paid and reported losses. The average frequency and severity ("FS") reserving technique is used for lines where claim count is available, and the estimate of loss development factors is more difficult due to volatility in historical data. The available data for such lines is usually more volatile in the estimation of future losses using the LD and BF reserving methods. The FS method uses historical data to estimate the average number of ultimate claims (frequency) and the average costs of closed claims (severity). The estimate of ultimate losses by underwriting year is the result of the multiplication of the ultimate number of claims and the average cost of a claim. With the guidance of the methods above, actuarial judgment is applied in the determination of ultimate losses. In general, the Company’s segments have varying levels of seasoning with which the Company has direct experience and as a result, differing methods are utilized to estimate loss and LAE reserves in each segment. In the Diversified Reinsurance segment, the Company utilizes the ELR approach at the onset of reserving an account, the BF method for business with less but maturing loss experience, and as the experience matures the LD method. For proportional or pro-rata business, the Company typically relies heavily on the actual historical contract experience to estimate reserving parameters such as loss development factors, whereas for excess of loss business there will be more usage of industry and/or Company benchmark assumptions. The Company underwrote the AmTrust Reinsurance segment from July 1, 2007 until the Final AmTrust QS Terminations effective January 1, 2019. A large proportion of the exposure in the underlying book of business has significant seasoning, and allows for a significant amount of credibility in using parameters derived from historical experience to calculate reserve estimates. Some segments of the book are a result of recent acquisitions or newer markets for AmTrust. These segments require a greater level of assumptions and professional judgment in deriving ultimate losses, which inherently implies a wider range of reasonable estimates. As a result, the Company has tended to rely on a weighted approach which primarily employs the LD method for aspects of the segment with ample historical data, while also considering the ELR or BF method for exposure resulting from recent acquisitions, or a relative business with a more limited level of experience. The FS method is also considered for segments of the AmTrust Reinsurance book of business for which claim count information is available. Additional data detailing items such as class of business, state, claim counts, frequency and severity is available, further enhancing the reserve analysis. Prior Year Development Prior period development arises from changes to loss estimates recognized in the current year that relate to loss reserves established in previous calendar years. The favorable or unfavorable development reflects changes in management's best estimate of the ultimate losses under the relevant reinsurance policies after considerable review of changes in actuarial assessments. The following table summarizes the favorable prior period development experienced in each of our reportable segments for the years ended December 31, 2021 and 2020: For the Year Ended Diversified Reinsurance AmTrust Reinsurance Total December 31, 2021 $ 3,561 $ 24,044 $ 27,605 December 31, 2020 1,295 15,238 16,533 9. Reserve for Loss and Loss Adjustment Expenses (continued) During 2021, the Company's incurred losses decreased for 2020 and prior accident years by $27,605 or 2.1% of prior year net loss and LAE reserves. The Company had decreased incurred losses for 2019 and prior accident years of $16,533 or 0.9% during 2020. The net favorable prior year loss development of $27,605 for the year ended December 31, 2021 was primarily driven by $24,044 of favorable loss development in the AmTrust Reinsurance segment combined with net favorable loss development of $3,561 in the Diversified Reinsurance segment. In the Diversified Reinsurance segment, net favorable prior year loss development was $3,561 for the year ended December 31, 2021 (2020 - $1,295) primarily due to favorable development in facultative reinsurance run-off business as well as auto programs in Australia, the U.K. and Germany. The favorable prior year development of $1,295 for the year ended December 31, 2020 was primarily due to favorable development in facultative reinsurance run-off lines partly offset by adverse development in European Capital Solutions. In the AmTrust Reinsurance segment, net favorable prior year development was $24,044 for the year ended December 31, 2021 (2020 - favorable $15,238). This was primarily due to favorable development of $22,242 in Workers Compensation and favorable development of $29,918 in Commercial Auto Liability; partly offset by adverse development of $7,885 in Hospital Liability and adverse development of $20,868 in General Liability. Net favorable prior year development of $15,238 for the year ended December 31, 2020 included favorable development of $39,016 in Workers Compensation and favorable development of $12,889 in Other lines, partly offset by adverse development of $17,650 in Commercial Auto Liability and adverse development of $18,334 in General Liability. The adjustment for retroactive ceded reinsurance of $29,081 represents the decrease in the reinsurance recoverable on unpaid losses under the LPT/ADC Agreement with Cavello that was recognized in the year ended December 31, 2021 (2020 - $38,009) in the reconciliation of our beginning and ending gross and net loss and LAE reserves presented above. It reflects the corresponding decrease in the deferred gain on retroactive reinsurance for favorable development on reserves covered under the LPT/ADC Agreement with Cavello of $29,081 during the year ended December 31, 2021 (2020 - $14,304). This adjustment also includes the Workers Compensation commuted losses of $23,705 during the year ended December 31, 2020. The deferred gain on retroactive reinsurance represents the cumulative adverse development under the AmTrust Quota Share covered under the LPT/ADC Agreement at December 31, 2021 and 2020. 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 2024. a) Claims Development The following is a summary of the Company's incurred and paid loss development by accident year, net of reinsurance, from the last ten calendar years including the total reserve for losses, IBNR, plus development on reported loss and LAE for both of our reportable segments, Diversified Reinsurance and AmTrust Reinsurance, as of December 31, 2021. Information prior to 2021 is included as unaudited supplementary information. The incurred and paid amounts have been translated from the local currency to U.S. dollars using the December 31, 2021 spot rate for all years presented in the table below in order to isolate changes in foreign exchange rates from loss development. As a reinsurer of primarily quota share contracts, claim counts are available on a very limited basis. Therefore claim counts have not been provided in the tables below as it is impractical to do so. The Diversified Reinsurance segment incurred and paid losses are analyzed by the following lines of business: (1) International; and (2) European Capital Solutions. The AmTrust Reinsurance segment incurred and paid losses are analyzed by the following lines of business: (1) Workers’ Compensation; (2) Commercial Auto Liability; (3) General Liability; (4) European Hospital Liability; and (5) All Other Lines. There are a number of factors to consider when evaluating the information in these tables: • In the Diversified Reinsurance segment, contracts are written on both an accident year and underwriting year basis, some are multi-line and the majority of the premium is associated with proportional contracts. Many proportional treaty reinsurance contracts are submitted using quarterly bordereau reporting by underwriting year. However, the remaining losses can generally only be allocated to accident years based on estimated premium earning and loss reporting patterns. Further estimates are required to allocate losses to line of business. Multi-line accounts are generally analyzed on an individual basis by line of business, but are booked in the Company’s records to a contract, rather than to each individual line of business within a contract. For the purpose of this disclosure allocations are made to the various lines of business. Management’s assumptions and allocation procedures for these tables may produce results that differ from the actual loss emergence reported by line of business each quarter; • The AmTrust Reinsurance segment consists primarily of two contracts, the European Hospital Liability Quota Share and a much larger quota share that includes all other covered business, the AmTrust Quota Share. There is also a small amount of excess of loss business that has not been written since 2009 which is included as a reconciling item. Maiden receives several cession statements and uses these to report premiums in three categories - Small Business Commercial, Specialty Program and Specialty Risk and Extended Warranty in Note 3. Segment Information . The tables provided include allocations of IBNR reserves to line of business by accident year. Management’s assumptions and allocation procedures for these tables may produce results that differ from the actual loss emergence reported by line of business each quarter; and • For both segments, the premium and exposure for prior accident years is often reported to us in subsequent periods, as reporting lags exist from an insurer to a reinsurer. This leads to increases in the provision for loss and LAE in prior years, but does not reduce expected income (and in many cases can result in additional income). 9. Reserve for Loss and Loss Adjustment Expenses (continued) Diversified Reinsurance Segment The following tables represent information on the Company's incurred loss and LAE and cumulative paid loss and LAE, both net of reinsurance, since 2011 for our Diversified Reinsurance segment. The development tables below included reserves acquired from the loss portfolio transfer agreement associated with the GMAC International Insurance Services ("IIS") business as at November 30, 2010 of $98,827. For the purposes of disclosure, the reserves from the loss portfolio transfer was allocated to the original accident year. Many pro-rata contracts are big enough that specific company development patterns are used. The ELR from the pricing of the account is typically used for the first year or more until the data suggests an alternative result is likely. Use of the ELR method transitions to the BF and then the LD method. For smaller contracts, benchmark development patterns may be used in both the pricing to establish the ELR and the reserving. The use of benchmark patterns is more prevalent in excess of loss business and the movement to experience based methods is slower. Diversified Reinsurance - International The international business written by our IIS team is mainly proportional treaty business, a significant portion of which is Personal Auto quota share but also comprises credit life quota share. Life and personal accident business is also written on a direct basis by Maiden LF. The IIS team works with insurance partners, automobile manufacturers and their related credit providers and other organizations to design and implement insurance programs in both auto distribution-related and other consumer insurance products. For the auto quota share exposure, our initial underwriting year loss projections are generally based on the ELR method, derived from account pricing analyses. Payment and reporting patterns are predominantly short-tailed, and the movement away from the ELR to BF or LD methods typically happens very rapidly. Credit life reserves are primarily a function of reporting lag, typically only one or several months on average. The reserves are calculated using a FS methodology, where the frequency is a function of the average claims lag and the average per claims severity. 9. Reserve for Loss and Loss Adjustment Expenses (continued) Diversified Reinsurance - International Incurred loss and LAE, net of reinsurance At December 31, 2021 For the Year Ended December 31, 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Total IBNR Accident Year: Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2010 $ 79,244 $ 79,144 $ 78,894 $ 77,274 $ 79,349 $ 81,349 $ 81,042 82,083 $ 82,196 $ 82,515 $ 648 2011 48,414 48,453 48,637 48,594 48,424 48,803 49,049 49,007 48,967 48,968 96 2012 51,076 49,319 49,594 49,700 49,782 50,043 49,763 49,714 49,643 49,749 206 2013 45,495 50,639 51,958 51,460 52,060 52,281 52,670 52,599 52,705 (93) 2014 42,607 48,387 48,258 48,153 47,926 48,002 47,742 47,624 18 2015 42,814 44,230 44,724 44,161 44,177 44,017 43,683 (312) 2016 38,661 40,668 40,006 39,965 40,361 39,881 (338) 2017 36,791 36,244 35,170 34,050 34,058 77 2018 45,031 42,985 43,242 43,297 (844) 2019 36,470 37,563 36,659 53 2020 27,568 26,766 4,261 2021 6,611 1,016 Total $ 512,516 $ 4,788 Cumulative paid loss and LAE, net of reinsurance For the Year Ended December 31, 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Accident Year: Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2010 $ 43,379 $ 48,282 $ 50,016 $ 51,605 $ 53,121 $ 54,600 $ 56,295 $ 57,752 $ 58,857 $ 60,008 2011 45,469 47,091 48,329 48,748 48,980 49,121 49,234 49,300 49,385 49,456 2012 23,916 40,857 43,240 44,329 44,656 45,238 45,354 45,368 45,454 45,562 2013 24,575 43,883 46,367 47,711 48,179 48,392 48,472 48,794 48,445 2014 23,766 42,054 44,328 45,552 45,810 45,918 46,038 46,213 2015 21,787 39,379 41,436 42,479 42,900 43,183 43,402 2016 22,320 36,443 38,292 39,052 39,696 40,270 2017 19,098 33,554 35,322 36,158 36,597 2018 20,879 37,672 39,769 41,898 2019 17,295 31,204 33,899 2020 11,900 21,905 2021 3,635 Total 471,290 Total net reserves $ 41,226 9. Reserve for Loss and Loss Adjustment Expenses (continued) Diversified Reinsurance - European Capital Solutions The European Capital Solutions business is mainly a portfolio of assumed reinsurance in Europe which is now in run-off. Maiden Reinsurance began writing treaty reinsurance contracts under this initiative in 2016 therefore only six calendar years of the Company's incurred and paid loss development by accident year have been provided in the tables below. Diversified Reinsurance - European Capital Solutions Incurred loss and LAE, net of reinsurance At December 31, 2021 For the Year Ended December 31, 2016 2017 2018 2019 2020 2021 Total IBNR Accident Year: Unaudited Unaudited Unaudited Unaudited Unaudited 2016 $ 4,899 $ 4,973 $ 5,390 $ 5,643 $ 5,981 $ 5,865 $ 182 2017 8,824 10,232 9,130 8,811 9,188 705 2018 23,891 25,772 26,420 26,232 2,979 2019 16,273 16,677 16,598 3,269 2020 232 208 43 Total $ 58,091 $ 7,178 Cumulative paid loss and LAE, net of reinsurance For the Year Ended December 31, 2016 2017 2018 2019 2020 2021 Accident Year: Unaudited Unaudited Unaudited Unaudited Unaudited 2016 $ 791 $ 2,340 $ 3,311 $ 4,699 $ 4,832 $ 5,017 2017 1,952 4,125 5,821 6,552 7,152 2018 3,231 5,944 12,587 18,134 2019 5,758 6,031 7,547 2020 92 90 Total 37,940 Total net reserves $ 20,151 The following tables represent information on the Company's incurred loss and LAE and cumulative paid loss and LAE, both net of reinsurance, by significant line of business since 2011 for our AmTrust Reinsurance segment. All data shown for the AmTrust Reinsurance segment in the tables that follow are from the Company’s quota share contracts with AmTrust, both the multi-year AmTrust Quota Share and the annually renewable European Hospital Liability Quota Share. AmTrust purchases significant reinsurance for losses above $10 million covered by the AmTrust Quota Share. The Company’s share of AmTrust’s losses net of reinsurance in the AmTrust Quota Share is generally 40%. Additionally, for the Specialty Program portion of Covered Business only, AmTrust will be responsible for ultimate net loss otherwise recoverable from Maiden Reinsurance to the extent that the loss ratio to Maiden Reinsurance, which shall be determined on an inception to date basis from July 1, 2007 through the date of calculation, is between 81.5% and 95%. Above and below the defined corridor, Maiden Reinsurance has reinsured losses at its proportional 40% share per the AmTrust Quota Share. Effective July 31, 2019, the Loss Corridor was amended such that the maximum amount covered is $40,500, the amount calculated by Maiden Reinsurance for the Loss Corridor coverage as of March 31, 2019. As of December 31, 2021, the projected amount subject to the Loss Corridor is $42,710 which exceeds the maximum amount covered. Any further development above this amount will be subject to the coverage of the LPT/ADC Agreement. Recoverables from the LPT/ADC Agreement are displayed in the column " Impact of LPT/ADC " in the tables below. Amounts have been allocated to Accident Year and line of business according to the timing of the respective losses, based on the currently projected payout patterns. These allocations may shift over time as actual payments are made and payout patterns are re–estimated. Please refer to "Note 8 — Reinsurance" for additional information regarding the LPT/ADC Agreement. 9. Reserve for Loss and Loss Adjustment Expenses (continued) AmTrust Reinsurance: Workers’ Compensation This reserve class consists of the Workers’ Compensation portion of the AmTrust Quota Share. The business is written in the U.S. by AmTrust from both their Small Commercial Business and Specialty Program business units. The Small Commercial Business unit focuses on writing smaller, niche workers' compensation exposures in generally low-hazard occupations. Workers’ Compensation business written in the Specialty Program unit is typically part of programs consisting of multiple lines of business. The business is produced by managing general agents with AmTrust regularly adding new programs and terminating or renegotiating unprofitable ones. Our initial underwriting year loss projections are generally based on the ELR method, derived from historical performance after the consideration of loss and premium trends. Since it is proportional exposure, and due to the size and the classes of business insured by AmTrust, this reserving class is much shorter tailed than a traditional workers compensation book, and the transition to the BF and the LD methods happens relatively quickly, within the first several years. 9. Reserve for Loss and Loss Adjustment Expenses (continued) Workers' Compensation Incurred loss and LAE, net of reinsurance (excluding impact of LPT/ADC Agreement) At December 31, 2021 For the Year Ended December 31, 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Total IBNR Impact of LPT/ADC Accident Year: Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2008 $ 81,493 $ 82,438 $ 81,240 $ 82,301 $ 83,039 $ 83,622 $ 84,710 $ 83,952 $ 86,117 $ 86,292 $ 2,297 $ 2,498 2009 102,245 103,864 109,213 106,204 105,901 107,165 110,175 109,664 109,021 110,207 2,478 3,675 2010 113,880 118,209 120,243 125,020 124,073 123,968 127,215 127,381 126,621 126,516 6,691 5,091 2011 125,549 130,712 132,728 133,995 133,916 135,379 138,600 139,685 141,272 137,355 2,476 7,041 2012 136,960 168,016 173,946 171,040 172,692 181,616 192,087 188,879 192,263 187,089 6,063 11,801 2013 237,019 245,765 238,392 242,447 261,915 276,249 273,571 281,580 277,365 11,159 17,716 2014 379,589 365,515 382,260 419,748 457,363 455,521 449,374 445,258 27,950 33,599 2015 474,140 474,212 526,269 551,145 545,271 549,857 547,439 37,772 47,662 2016 528,906 568,006 627,728 603,529 579,849 568,791 55,180 56,733 2017 615,957 654,362 613,577 593,920 591,122 44,485 84,351 2018 592,566 580,528 575,765 585,009 40,214 105,018 2019 12,751 9,945 10,871 841 — Total $ 3,673,314 $ 237,606 $ 375,185 Cumulative paid loss and LAE, net of reinsurance For the Year Ended December 31, 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Accident Year: Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2008 $ 72,823 $ 76,018 $ 77,370 $ 78,161 $ 79,230 $ 81,159 $ 82,436 $ 82,709 $ 82,286 $ 82,676 2009 83,464 89,462 93,425 96,396 98,811 100,103 101,823 102,877 103,771 104,205 2010 82,614 95,120 103,280 108,171 114,639 115,014 115,959 116,332 114,730 115,508 2011 69,357 91,414 105,584 114,107 115,966 122,579 124,315 125,843 129,408 130,413 2012 45,030 88,382 119,059 138,706 150,543 158,807 164,512 168,154 172,251 174,436 2013 56,249 121,182 168,785 199,300 216,527 227,502 234,342 248,103 252,506 2014 69,512 189,954 268,467 321,258 355,414 370,176 383,529 392,101 2015 86,695 246,616 338,642 388,640 417,736 448,867 466,868 2016 110,051 284,501 380,602 428,651 449,347 471,382 2017 111,508 274,596 448,551 485,611 507,903 2018 110,954 409,986 465,762 499,349 2019 3,907 5,821 8,070 Total 3,205,417 All outstanding liabilities prior to 2008, net of reinsurance 271 Total net reserves excluding impact of ADC 468,168 Impact of ADC (375,185) Total net reserves including impact of ADC $ 92,983 9. Reserve for Loss and Loss Adjustment Expenses (continued) AmTrust Reinsurance: General Liability This reserve class consists of the General Liability portion of the AmTrust Quota Share. The business is written in the U.S. by AmTrust from both their Small Commercial Business and Specialty Program business units. The Small Commercial Business unit focuses on writing smaller niche business, typically under-served by the broader insurance market, which typically have limits of $1,000. General Liability business written in the Small Commercial Business unit grew substantially following AmTrust’s renewal rights acquisition in 2014. Specialty Program business may contain a mix of exposures from retail operations, contractors, manufacturers, and other premises. Our initial underwriting year loss projections are generally based on the ELR method, derived from historical performance after the consideration of loss and premium trends. This proportional exposure is medium tailed, and the IBNR is typically derived from the use of the initial ELR, or the FS method as claim counts emerge, for the first several years following the earning of the exposure, followed by a transition to the BF and the LD methods. 9. Reserve for Loss and Loss Adjustment Expenses (continued) General Liability Incurred loss and LAE, net of reinsurance (excluding impact of LPT/ADC Agreement) At December 31, 2021 For the Year Ended December 31, 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Total IBNR Impact of LPT/ADC Accident Year: Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2008 $ 31,921 $ 33,051 $ 33,792 $ 34,169 $ 35,985 $ 36,627 $ 37,605 $ 36,996 $ 40,398 $ 40,381 $ 3,327 $ 161 2009 28,384 29,123 30,902 32,418 34,040 34,863 35,138 35,410 36,228 35,733 689 171 2010 28,850 34,761 36,455 38,536 38,298 41,597 42,884 43,062 45,490 44,778 669 443 2011 24,731 35,628 40,557 42,100 45,303 49,338 52,746 53,499 55,607 54,683 695 695 2012 21,281 33,445 42,450 48,851 50,800 55,991 59,948 63,429 63,704 64,052 4,471 1,302 2013 42,021 43,116 66,869 68,641 79,731 89,204 92,032 95,050 96,342 3,689 2,534 2014 65,469 66,558 77,930 99,873 111,970 116,085 119,367 119,782 10,123 5,734 2015 118,111 95,766 122,942 139,518 154,071 154,529 154,939 13,452 10,590 2016 98,149 114,864 120,911 148,371 147,858 147,996 19,131 14,049 2017 116,158 133,533 165,268 161,354 162,856 29,103 18,410 2018 121,991 153,822 148,817 148,295 39,473 21,760 2019 5,427 6,017 5,981 4,360 — Total $ 1,075,818 $ 129,182 $ 75,849 Cumulative paid loss and LAE, net of reinsurance For the Year Ended December 31, 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Accident Year: Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2008 $ 26,288 $ 29,384 $ 32,849 $ 32,423 $ 32,765 $ 34,935 $ 36,699 $ 34,893 $ 37,253 $ 37,278 2009 13,904 19,727 24,298 28,312 30,924 32,878 33,473 32,487 34,984 34,999 2010 11,187 19,010 26,429 30,948 34,125 37,317 39,214 39,888 42,509 43,076 2011 6,072 12,158 22,963 31,619 39,350 41,257 47,141 49,178 51,492 52,592 2012 5,084 13,224 18,020 29,752 40,864 45,775 53,526 56,538 55,350 57,913 2013 4,996 10,226 32,249 44,698 58,377 70,074 76,996 83,571 87,178 2014 3,503 24,581 36,026 57,678 77,259 86,101 92,861 96,521 2015 20,849 33,963 52,350 79,291 98,278 112,542 120,546 2016 6,402 21,959 45,855 67,064 88,627 101,764 2017 6,967 27,001 51,545 79,531 97,356 2018 7,907 24,618 42,792 65,947 2019 27 314 717 Total 795,887 All outstanding liabilities prior to 2008, net of reinsurance 8 Total net reserves excluding impact of ADC 279,939 Impact of ADC (75,849) Total net reserves including impact of ADC $ 204,090 9. Reserve for Loss and Loss Adjustment Expenses (continued) AmTrust Reinsurance: Commercial Auto Liability Commercial Auto Liability is written in the U.S. and included in the Small Commercial Business and Specialty Program business units within the AmTrust Quota Share. The Small Commercial Business unit focuses on writing smaller niche business, typically under-served by the broader insurance market, and policies typically have limits of $1,000. Auto Liability business written in the Small Commercial Business unit grew substantially following a large renewal rights acquisition completed by AmTrust in 2014. Commercial Auto Liability business written in the Specialty Program unit is typically part of programs consisting of multiple lines of business. Our initial underwriting year loss projections are generally based on the ELR method, derived from historical performance after the consideration of loss and premium trends. This proportional exposure is relatively short tailed, and the transition to the BF and the LD methods happens relatively quickly, within the first several years. 9. Reserve for Loss and Loss Adjustment Expenses (continued) Commercial Auto Liability Incurred loss and LAE, net of reinsurance (excluding impact of LPT/ADC Agreement) At December 31, 2021 For the Year Ended December 31, 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Total IBNR Impact of LPT/ADC Accident Year:

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2021
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions The Founding Shareholders of the Company were Michael Karfunkel, George Karfunkel and Barry Zyskind. Based on each individual's most recent public filing, Leah Karfunkel (wife of the late Michael Karfunkel) owns or controls approximately 7.8% of the Company's outstanding common shares and Barry Zyskind (the Company's non-executive chairman) owns or controls approximately 7.3% of the Company's outstanding common shares. George Karfunkel owns or controls less than 5.0% of the Company's outstanding common shares. Leah Karfunkel and George Karfunkel are directors of AmTrust, and Barry Zyskind is the chief executive officer and chairman of AmTrust. Leah Karfunkel, George Karfunkel and Barry Zyskind own or control approximately 53.2% of the ownership interests of Evergreen Parent LP, the ultimate parent of AmTrust. The following describes transactions that have transpired between the Company and AmTrust: AmTrust Quota Share Effective July 1, 2007, the Company and AmTrust entered into a master agreement, as amended ("Master Agreement"), by which they caused Maiden Reinsurance and AII to enter into the AmTrust Quota Share by which AII retroceded to Maiden Reinsurance an amount equal to 40% of the premium written by subsidiaries of AmTrust, net of the cost of unaffiliated inuring reinsurance and 40% of losses. The Master Agreement further provided that AII receive a ceding commission of 31% of ceded written premiums. On June 11, 2008, Maiden Reinsurance and AII amended the AmTrust Quota Share to add Retail Commercial Package Business to the Covered Business (as defined in the AmTrust Quota Share). AII receives a ceding commission of 34.375% on Retail Commercial Package Business. On July 1, 2016, the agreement was renewed through June 30, 2019. Effective July 1, 2018, the amount AEL ceded to Maiden Reinsurance was reduced to 20%. Effective July 1, 2013, for the Specialty Program portion of Covered Business only, AII was responsible for ultimate net loss otherwise recoverable from Maiden Reinsurance to the extent that the loss ratio to Maiden Reinsurance, which shall be determined on an inception to date basis from July 1, 2007 through the date of calculation, is between 81.5% and 95% ("Loss Corridor"). Above and below the Loss Corridor, Maiden Reinsurance continued to reinsure losses at its proportional 40% share of the AmTrust Quota Share. Effective July 31, 2019, the Loss Corridor was amended such that the maximum amount covered is $40,500, the amount calculated by Maiden Reinsurance for the Loss Corridor coverage as of March 31, 2019. Any development above this maximum amount will be subject to the coverage of the LPT/ADC Agreement. Effective January 1, 2019, Maiden Reinsurance and AII entered into a partial termination amendment ("Partial Termination Amendment") which amended the AmTrust Quota Share. The Partial Termination Amendment provided for the cut-off of the ongoing and unearned premium of AmTrust’s Small Commercial Business, comprising workers’ compensation, general liability, umbrella liability, professional liability (including cyber liability) insurance coverages, and U.S. Specialty Risk and Extended Warranty ("Terminated Business") as of December 31, 2018. Under the Partial Termination Amendment, the ceding commission payable by Maiden Reinsurance for its remaining in-force business immediately prior to January 1, 2019 increased by five percentage points with respect to in-force remaining business (excluding Terminated Business) and related unearned premium as of January 1, 2019. The Partial Termination Amendment resulted in Maiden Reinsurance returning $647,980 in unearned premium to AII, or $436,760 net of applicable ceding commission and brokerage as calculated during the second quarter of 2019. Subsequently, on January 30, 2019, Maiden Reinsurance and AII agreed to terminate the remaining business subject to the AmTrust Quota Share on a run-off basis effective as of January 1, 2019. Effective July 31, 2019, Maiden Reinsurance and AII entered into a Commutation and Release Agreement which provided for AII to assume all reserves ceded by AII to Maiden Reinsurance with respect to its proportional 40% share of the ultimate net loss under the AmTrust Quota Share related to the commuted business including: (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's 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. Maiden Reinsurance paid $312,786 ("Commutation Payment"), which is the sum of the net ceded reserves in the amount of $330,682 with respect to the Commuted Business as of December 31, 2018 less payments in the amount of $17,896 made by Maiden Reinsurance with respect to the Commuted Business from January 1, 2019 through July 31, 2019. The Commutation Payment was settled on August 12, 2019 and Maiden Reinsurance paid AII approximately $6,335 in interest related to the Commutation Payment premium, calculated at the rate of 3.30% per annum from January 1, 2019 through August 12, 2019. AII and Maiden Reinsurance also agreed that as of July 31, 2019, the AmTrust Quota Share was deemed amended as applicable so that the Commuted Business is no longer included as part of Covered Business under the AmTrust Quota Share. On January 30, 2019, in connection with the termination of the reinsurance agreement described above, the Company and AmTrust entered into a second amendment to the Master Agreement between the parties, originally entered into on July 3, 2007, to remove the provisions requiring AmTrust to reinsure business with the Company. 10. Related Party Transactions (continued) European Hospital Liability Quota Share Effective April 1, 2011, Maiden Reinsurance entered into the European Hospital Liability Quota Share with AEL and AIU DAC. Pursuant to the terms of the European Hospital Liability Quota Share, Maiden Reinsurance assumed 40% of the premiums and losses related to policies classified as European Hospital Liability, including associated liability coverages and policies covering physician defense costs, written or renewed on or after April 1, 2011. The European Hospital Liability Quota Share also covers policies written or renewed on or before March 31, 2011, but only with respect to losses that occur, accrue or arise on or after April 1, 2011. The maximum limit of liability attaching shall be €5,000 (€10,000 effective January 1, 2012) or currency equivalent (on a 100% basis) per original claim for any one original policy. Maiden Reinsurance paid a ceding commission of 5% on contracts assumed under the European Hospital Liability Quota Share. Effective July 1, 2016, the European Hospital Liability Quota Share was amended such that Maiden Reinsurance assumes from AEL 32.5% of the premiums and losses of all policies written or renewed on or after July 1, 2016 until June 30, 2017 and 20% of all policies written or renewed on or after July 1, 2017. Thereafter, on January 30, 2019, Maiden Reinsurance, AEL and AIU DAC agreed to terminate the European Hospital Liability Quota Share on a run-off basis effective as of January 1, 2019. The table below shows the effect of both of these quota share arrangements with AmTrust on the Company's Consolidated Income Statements for the years ended December 31, 2021 and 2020, respectively: For the Year Ended December 31, 2021 2020 Gross and net premiums written $ (5,695) $ (9,068) Net premiums earned 25,312 57,992 Net loss and loss adjustment expenses (3,438) (17,031) Commission and other acquisition expenses (9,747) (20,321) Collateral provided to AmTrust a) AmTrust Quota Share To provide AmTrust's U.S. insurance subsidiaries with credit for reinsurance on their statutory financial statements, AII, as the direct reinsurer of AmTrust's insurance subsidiaries, established trust accounts ("Trust Accounts") for their benefit. Maiden Reinsurance has provided appropriate collateral to secure its proportional share under the AmTrust Quota Share of AII's obligations to the AmTrust subsidiaries to whom AII is required to provide collateral which can include (a) assets loaned by Maiden Reinsurance to AII for deposit into the Trust Accounts, pursuant to a loan agreement between those parties, (b) assets transferred by Maiden Reinsurance for deposit into the Trust Accounts, or (c) a letter of credit obtained by Maiden Reinsurance and delivered to an AmTrust subsidiary on AII's behalf. Maiden Reinsurance may provide any or a combination of these forms of collateral, provided that the aggregate value thereof equals Maiden Reinsurance's proportionate share of its obligations under the AmTrust Quota Share. Maiden Reinsurance satisfied its collateral requirements under the AmTrust Quota Share with AII as follows: •. by lending funds of $167,975 at December 31, 2021 and 2020 pursuant to a loan agreement entered into between those parties. Advances under the loan are secured by promissory notes. This loan was assigned by AII to AmTrust effective December 31, 2014 and is carried at cost. Interest is payable at a rate equivalent to the Federal Funds Effective Rate ("Fed Funds") plus 200 basis points per annum. The interest income on the loan was $3,492 for the year ended December 31, 2021 (2020 - $3,996) and the effective yield was 2.1% (2020 - 2.4%). •. on January 30, 2019, in connection with the termination of the reinsurance agreements described above, the Company and AmTrust amended the Loan Agreement between Maiden Reinsurance, AmTrust and AII, originally entered into on November 16, 2007, by extending the maturity date to January 1, 2025 and specifies that due to the termination of the AmTrust Quota Share, no further loans or advances may be made pursuant to the Loan Agreement; •. effective December 1, 2008, the Company entered into a Reinsurer Trust Assets Collateral agreement to provide to AII sufficient collateral to secure its proportional share of AII's obligations to the U.S. AmTrust subsidiaries. The amount of the collateral at December 31, 2021 was approximately $246,874 (2020 - $666,879) and the accrued interest was $1,171 (2020 - $3,048). Please refer to " Note 4. (e) Investments " for additional information. •. on January 11, 2019, a portion of the existing Trust Accounts used for collateral on the AmTrust Quota Share were converted to a funds withheld arrangement. The Company transferred $575,000 to AmTrust as a funds withheld receivable which currently has an annual interest rate of 1.8%, subject to annual adjustment. The annual interest rate was 2.65% for the year ended December 31, 2020. At December 31, 2021, the balance of funds withheld was $575,000 (2020 - $575,000) and the accrued interest was $2,609 (2020 - $3,845). The interest income on the funds withheld receivable was $10,350 for the year ended December 31, 2021 (2020 - $15,297). 10. Related Party Transactions (continued) Pursuant to the terms of the LPT/ADC Agreement, Maiden Reinsurance, Cavello and AmTrust and certain of its affiliated companies entered into a Master Collateral Agreement (“MCA”) to define and enable the operation of collateral provided under the AmTrust Quota Share. Under the MCA, Cavello provided letters of credit on behalf of Maiden Reinsurance to AmTrust in an amount representing Cavello's obligations under the LPT/ADC Agreement. Because these letters of credit replaced other collateral previously provided directly by Maiden Reinsurance to AmTrust, the MCA coordinates the collateral protection that will be provided to AmTrust to ensure that no gaps in collateral funding occur by operation of the LPT/ADC Agreement and related MCA. As a result of entering into both the LPT/ADC Agreement and the MCA, certain post-termination endorsements (“PTEs”) to the AmTrust Quota Share between AII and Maiden Reinsurance were required. Effective July 31, 2019, the PTEs: i) enable the operation of both the LPT/ADC Agreement and MCA by making provision for certain forms of collateral, including letters of credit provided by Cavello on Maiden Reinsurance’s behalf, and further defines the permitted use and return of collateral; and ii) increase the required funding percentage for Maiden Reinsurance under the collateral arrangements between the parties to 105% of its obligations, subject to a minimum excess funding requirement of $54,000, as may be mutually amended by the parties from time to time. Under certain defined conditions, Maiden Reinsurance may be required to increase this funding percentage to 110%. Effective March 16, 2020, Maiden Reinsurance discontinued as a Bermuda company and completed its re-domestication to the State of Vermont. Bermuda is a Solvency II equivalent jurisdiction and the State of Vermont is not such a jurisdiction; therefore, the collateral provided under the respective agreements with AmTrust subsidiaries was strengthened to reflect the impact of the re-domestication concurrent with the date of Maiden Reinsurance’s re-domestication to Vermont. Maiden Reinsurance and AmTrust agreed to: 1) amend the AmTrust Quota Share pursuant to Post Termination Endorsement No. 2 effective March 16, 2020; and 2) amend the European Hospital Liability Quota Share pursuant to Post Termination Endorsement No. 1 effective March 16, 2020. Pursuant to the terms of Post Termination Endorsement No. 2 to the AmTrust Quota Share, Maiden Reinsurance strengthened the collateral protection provided by Maiden Reinsurance to AII by increasing the required funding percentage for Maiden Reinsurance under the collateral arrangements between the parties to 110% of its obligations, subject to a minimum excess funding requirement of $54,000, as may be mutually amended by the parties from time to time. Post Termination Endorsement No. 2 also sets forth conditions by which the funding percentage will be reduced and the sequence of how collateral will be utilized as obligations as defined under the AmTrust Quota Share are satisfied. Pursuant to the terms of Post Termination Endorsement No. 1 to the European Hospital Liability Quota Share, Maiden Reinsurance strengthened the collateral protection provided by Maiden Reinsurance to AEL and AIU DAC by increasing the required funding percentage for Maiden Reinsurance under the collateral arrangements between the parties to the greater of 120% of the Exposure (as defined therein) and the amount of security required to offset the increase in the Solvency Capital Requirement (“SCR”) that results from the changes in the SCR which arise out of Maiden Reinsurance's re-domestication as compared to the SCR calculation if Maiden Reinsurance had remained domesticated in a Solvency II equivalent jurisdiction with a solvency ratio above 100% and provided collateral equivalent to 100% of the Exposure. b) European Hospital Liability Quota Share Collateral has been provided to both AEL and AIU DAC under the European Hospital Liability Quota Share. For AEL, the amount of collateral held in reinsurance trust accounts at December 31, 2021 was $244,488 (2020 - $318,063) and the accrued interest was $1,273 (2020 - $2,283). For AIU DAC, the Company utilizes funds withheld to satisfy its collateral requirements. At December 31, 2021, the funds withheld balance was $26,460 (2020 - $28,093) and the accrued interest was $141 (2020 - $318). AIU DAC pays Maiden Reinsurance a fixed annual interest rate of 0.5% on the average daily funds withheld balance which is subject to annual adjustment. The interest income on the funds withheld receivable was $147 for the year ended December 31, 2021 (2020 - $350). Brokerage Agreement Effective July 1, 2007, the Company entered into a reinsurance brokerage agreement with AII Reinsurance Broker Ltd. ("AIIB"), a wholly owned subsidiary of AmTrust. Pursuant to the brokerage agreement, AIIB provided brokerage services relating to the AmTrust Quota Share and the European Hospital Liability Quota Share for a fee equal to 1.25% of the premium assumed. AIIB was not the Company's exclusive broker. The brokerage agreement was terminated as of March 15, 2019. Maiden Reinsurance recorded $316 of reinsurance brokerage expense for the year ended December 31, 2021 (2020 - $725), and deferred reinsurance brokerage of $1,147 at December 31, 2021 (2020 - $1,534) as a result of this agreement. Asset Management Agreement Effective July 1, 2007, the Company entered into an asset management agreement with AII Insurance Management Limited ("AIIM"), a wholly owned subsidiary of AmTrust, pursuant to which AIIM agreed to provide investment management services to the Company. Effective January 1, 2018, AIIM provides investment management services for a quarterly fee of 0.02125% of the average value of the account. The agreement may be terminated upon 30 days written notice by either party. The Company recorded $846 of investment management fees for the year ended December 31, 2021 (2020 - $1,369) under this agreement. 10. Related Party Transactions (continued) On September 9, 2020, Maiden Reinsurance, AmTrust and AIIM entered into a novation agreement, effective July 1, 2020, which provided for the novation of the asset management agreement, dated January 1, 2018 between Maiden Reinsurance and AIIM, and the release by Maiden Reinsurance of AIIM's obligations under the asset management agreement. The novation mandates that AmTrust is to be bound by the terms of the asset management agreement in place of AIIM and AmTrust agrees to perform any and all past, present and future obligations of AIIM under the asset management agreement. On November 13, 2020, Maiden LF, Maiden GF, AmTrust and AIIM entered into a novation agreement, effective July 1, 2020, which provided for the novation of the asset management agreement, dated January 1, 2018 between Maiden LF, Maiden GF and AIIM, and the release by Maiden LF and Maiden GF of AIIM's obligations under the asset management agreement. The novation mandates that AmTrust is to be bound by the terms of the asset management agreement in place of AIIM and AmTrust agrees to perform any and all past, present and future obligations of AIIM under the asset management agreement. Insurance Management Services Agreement Effective August 31, 2019, the Company entered into an agreement with Risk Services - Vermont, Inc. ("Risk Services"), an affiliate of AmTrust. Pursuant to the agreement, Risk Services agreed to provide insurance management services to the Company including regulatory compliance services in connection with the re-domestication, licensing and operation of Maiden Reinsurance in the State of Vermont. The initial term of the agreement is three years and will automatically renew for an additional three years until either party gives written notice of its intention to terminate this agreement at least three months prior to the commencement of the next applicable period. The fee for this agreement was an initial $100 retainer for re-domestication services paid in 2019 and $100 annually with reimbursement for reasonable out-of-pocket expenses incurred by Risk Services pursuant to the terms of the agreement. The Company recorded $100 of annual fees for the year ended December 31, 2021 (2020 - $100). 683 Capital Partners, LP (“683 Partners”) At December 31, 2021, 683 Partners and its affiliates own or control approximately 6.8% of the outstanding common shares of the Company. 683 Partners and its affiliates are not related parties as defined in ASC 850: Related Party Disclosures . Limited Partnership Agreement with 683 Capital Management, LLC ("683 Capital") In July 2020, the Company and 683 Capital entered into a limited partnership agreement (“683 LP Agreement”) whereby 683 Capital will separately manage certain funds of Maiden Reinsurance at its discretion, subject to guidelines established by the parties. Under the 683 LP Agreement, Maiden Reinsurance will pay 683 Capital a management fee and subject to certain metrics agreed to by the parties, an incentive fee upon attainment of those metrics. Maiden Reinsurance may periodically and in its discretion increase the amount invested under the 683 LP Agreement, and subject to certain conditions, reduce the amount invested under the 683 LP Agreement. Hedge fund investments of $32,929 were managed by 683 Capital under this agreement at December 31, 2021 (December 31, 2020 - $29,435).

Commitments, Contingencies and

Commitments, Contingencies and Guarantees	12 Months Ended
	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments, Contingencies and Guarantees	Commitments, Contingencies and Guarantees a) Concentrations of Credit Risk At December 31, 2021 and 2020, the Company’s assets where significant concentrations of credit risk may exist include investments, cash and cash equivalents, loan to related party, reinsurance recoverable on unpaid losses and funds withheld receivable. Please refer to " Note 8 — Reinsurance " for additional information regarding the Company's credit risk exposure on its reinsurance counterparties including the impact of the LPT/ADC Agreement effective January 1, 2019. The Company requires its reinsurers to have adequate financial strength. The Company evaluates the financial condition of its reinsurers and monitors its concentration of credit risk on an ongoing basis. Provisions are made for amounts considered potentially uncollectible. Letters of credit are provided by its reinsurers for material amounts recoverable as discussed in "Note 8 — Reinsurance". The Company manages the concentration of credit risk in its investment portfolio through issuer and sector exposure limitations. The Company believes it bears minimal credit risk in its cash on deposit. The Company also monitors the credit risk related to the loan to related party and funds withheld receivable, within which the largest balances are due from AmTrust. AmTrust has a financial strength/credit rating of A- (Excellent) from A.M. Best at December 31, 2021. To mitigate credit risk, the Company generally has a contractual right of offset thereby allowing claims to be settled net of any premiums or loan receivable. The Company believes these balances as at December 31, 2021 will be fully collectible. b) Concentrations of Revenue During the year ended December 31, 2021, net premiums earned from AmTrust accounted for $25,312 or 47.8% of total net premiums earned (2020 – $57,992 or 54.7%). c) Brokers The Company formerly marketed its Diversified Reinsurance segment through third-party intermediaries as well as directly through its own marketing efforts. The majority of business within the Diversified Reinsurance segment was marketed directly through our own efforts therefore there was no significant reliance on brokers for the years ended December 31, 2021 and 2020. d) Letters of Credit At December 31, 2021, the Company had letters of credit outstanding of $53,566 (2020 - $67,386) for collateral purposes which are secured by cash and fixed maturities with a fair value of $72,823 at December 31, 2021 (2020 - $83,041). e) Employment Agreements The Company has entered into employment agreements with certain individuals. The employment agreements provide for executive benefits and severance payments under certain circumstances. f) Operating Lease Commitments The Company leases office spaces, housing, office equipment and company vehicles under various operating leases expiring in various years through 2024. The Company entered into a new office leasing arrangement and terminated its former office leasing arrangement in Bermuda during the year ended December 31, 2021. The Company's leases are currently classified as operating leases and none of them have any non-lease components. For operating leases that have a lease term of more than twelve months, and whose lease payments are above a certain threshold, the Company recognizes a lease liability and a right-of-use asset in the Consolidated Balance Sheets at the present value of the remaining lease payments until expiration. As the lease contracts generally do not provide an implicit discount rate, the Company used the weighted-average discount rate of 10%, representing its secured incremental borrowing rate, in calculating the present value of the lease liability. The amount of $473 is recorded as a lease liability within accrued expenses and other liabilities other assets g) Investment Commitments and Related Financial Guarantees The Company had total unfunded commitments on other investments of $95,677 at December 31, 2021 (2020 - $63,313). Please refer to "Note 4 (b) Other Investments" for details on unfunded commitments for other investments held at December 31, 2021. The total unfunded commitments on other investments at December 31, 2021 also includes commitments for future investments for which the Company had agreements to fund at December 31, 2021. The Company had unfunded commitments on equity method investments of $25,950 at December 31, 2021. Certain of the Company's investments in limited partnerships are related to real estate joint ventures with interests in multi-property projects with varying strategies ranging from the development of properties to the ownership of income-producing properties. In certain of these joint ventures, the Company has provided certain indemnities, guarantees and commitments to certain parties such that it may be required to make payments now or in the future. Any loss for which the Company could be liable would be contingent on the default of a loan by the real estate joint venture entity for which the Company provided a financial guarantee to a lender. While the Company has committed to aggregate limits as to the amount of guarantees it will provide as part of its limited partnerships, guarantees are only provided on an individual transaction basis and are subject to the terms and conditions of each transaction mutually agreed by the parties involved. The Company is not bound to such guarantees without its express authorization. 11. Commitments, Contingencies and Guarantees (continued) As discussed above, at December 31, 2021, guarantees of $33,305 have been provided to lenders by the Company on behalf of real estate joint ventures, however, the likelihood of the Company incurring any losses pertaining to project level financing guarantees was determined to be remote. Therefore, no liability has been accrued under ASC 450-20. h) Other Collateral In the ordinary course of business, the Company enters into reinsurance agreements that may include terms which could require the Company to collateralize certain of its obligations. i) Deposit Insurance The Company maintains cash and cash equivalents balances at financial institutions in the U.S., Bermuda and other international jurisdictions. In the U.S., the Federal Deposit Insurance Corporation secures accounts up to $250. In certain other international jurisdictions, there exist similar protections. Management monitors balances in excess of insured limits and believes they do not represent a significant credit risk to the Company. j) Legal Proceedings Except as noted below, the Company is not a party to any material legal proceedings. From time to time, the Company is subject to routine legal proceedings, including arbitration, arising in the ordinary course of business. These legal proceedings generally relate to claims asserted by or against the Company in the ordinary course of insurance or reinsurance operations. Based on the Company's opinion, the eventual outcome of these legal proceedings is not expected to have a material adverse effect on its financial condition or results of operations. In April 2009, the Company learned that Bentzion S. Turin, the former Chief Operating Officer, General Counsel and Secretary of Maiden Holdings and Maiden Reinsurance, sent a letter to the U.S. Department of Labor claiming that his employment with the Company was terminated in retaliation for corporate whistle-blowing in violation of the whistle-blower protection provisions of the Sarbanes-Oxley Act of 2002. Mr. Turin alleged that he was terminated for raising concerns regarding corporate governance with respect to the negotiation of the terms of the Trust Preferred Securities Offering. He seeks reinstatement as Chief Operating Officer, General Counsel and Secretary of Maiden Holdings and Maiden Reinsurance, back pay and legal fees incurred. On December 31, 2009, the U.S. Secretary of Labor found no reasonable cause for Mr. Turin’s claim and dismissed the complaint in its entirety. Mr. Turin objected to the Secretary's findings and requested a hearing before an administrative law judge in the U.S. Department of Labor. The Company moved to dismiss Mr. Turin's complaint, and its motion was granted by the Administrative Law Judge on June 30, 2011. On July 13, 2011, Mr. Turin filed a petition for review of the Administrative Law Judge's decision with the Administrative Review Board in the U.S. Department of Labor. On March 29, 2013, the Administrative Review Board reversed the dismissal of the complaint on procedural grounds, and remanded the case to the administrative law judge. The administrative hearing began in September 2014 and concluded in November 2018. On September 2, 2021, Administrative Law Judge Theresa C. Timlin of the U.S. Department of Labor issued a decision and order which denied Mr. Turin’s complaint in full. On September 16, 2021, Mr. Turin filed a petition for review of the Administrative Law Judge's decision with the Administrative Review Board in the U.S. Department of Labor. The Company believes that it had good and sufficient reasons for terminating Mr. Turin's employment and that the claim is without merit. The Company will continue to vigorously defend itself against this claim. A putative class action complaint was filed against Maiden Holdings, Arturo M. Raschbaum, Karen L. Schmitt, and John M. Marshaleck in the United States District Court for the District of New Jersey on February 11, 2019. On February 19, 2020, the Court appointed lead plaintiffs, and on May 1, 2020, lead plaintiffs filed an amended class action complaint (the “Amended Complaint”).The Amended Complaint asserts violations of Section 10(b) of the Exchange Act and Rule 10b-5 (and Section 20(a) for control person liability) arising in large part from allegations that Maiden failed to take adequate loss reserves in connection with reinsurance provided to AmTrust. Plaintiffs further claim that certain of Maiden Holdings’ representations concerning its business, underwriting and financial statements were rendered false by the allegedly inadequate loss reserves, that these misrepresentations inflated the price of Maiden Holdings' common stock, and that when the truth about the misrepresentations was revealed, the Company’s stock price fell, causing Plaintiffs to incur losses. On September 11, 2020, a motion to dismiss was filed on behalf of all Defendants. On August 6, 2021, the Court issued an order denying, in part, Defendants’ motion to dismiss, ordering Plaintiffs to file a shorter amended complaint no later than August 20, 2021, and permitting discovery to proceed on a limited basis. We believe the claims are without merit and we intend to vigorously defend ourselves. It is possible that additional lawsuits will be filed against the Company, its subsidiaries and its respective officers due to the diminution in value of our securities as a result of our operating results and financial condition. It is currently uncertain as to the effect of such litigation on our business, operating results and financial condition.

Earnings per Common Share

Earnings per Common Share	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Earnings per Common Share	Earnings per Common Share The following is a summary of the elements used in calculating basic and diluted earnings per common share: For the Year Ended December 31, 2021 2020 Numerator: Net income $ 26,645 $ 41,762 Gain from repurchase of preference shares – Series A, C and D 90,998 38,195 Amount allocated to participating common shareholders (1) (1,021) (1,386) Net income allocated to Maiden common shareholders $ 116,622 $ 78,571 Denominator: Weighted average number of common shares – basic 86,068,278 84,333,514 Potentially dilutive securities: Share options and restricted share units (2) 4,389 141 Adjusted weighted average common shares – diluted 86,072,667 84,333,655 Basic and diluted earnings per share attributable to Maiden common shareholders $ 1.35 $ 0.93 (1) This represents the share in net income using the two-class method for holders of non-vested restricted shares issued to the Company's employees under the 2019 Omnibus Incentive Plan. (2) Please refer to "Note 6 — Shareholders' Equity" and "Note 14 — Share Compensation and Pension Plans" in the Notes to Consolidated Financial Statements for the terms and conditions of securities that could potentially be dilutive in the future. For the year ended December 31, 2021, there were 4,389 potentially dilutive securities.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Under current Bermuda law, Maiden Holdings received an undertaking from the Bermuda government exempting them from all local income, withholding and capital gains taxes until March 31, 2035. At the present time, no such taxes are levied in Bermuda. Maiden Holdings believes that they operate in a manner such that they will not be considered to be engaged in a trade or business in the U.S. Accordingly, Maiden Holdings has not recorded any provision for U.S. taxation. Maiden NA files a consolidated federal income tax return for the Company’s U.S. based subsidiaries, including Maiden Reinsurance, which re-domesticated to Vermont on March 16, 2020 and, as a result, became subject to U.S. taxes. Maiden NA has Net Operating Loss carry-forwards ("NOLs") and other Deferred Tax Assets (“DTAs”) and Deferred Tax Liabilities (“DTLs”) that are not presently recognized as a net DTA because a full valuation allowance is currently carried against them. On March 27, 2020, the U.S. enacted the Coronavirus Aid, Relief and Economic Security Act (the “CARES” Act) to mitigate the economic impacts of COVID-19. The Company believes that the provisions of the CARES Act will not have a material impact on its U.S. federal tax liabilities. Our U.S. subsidiaries are subject to federal, state and local corporate income taxes and other taxes applicable to U.S. corporations. The provision for federal income taxes has been determined under the principles of the consolidated tax provisions of the U.S. Internal Revenue Code and Regulations. Should our U.S. subsidiaries pay a dividend outside the U.S. group, withholding taxes will apply. Tax years 2018 to 2020 are subject to examination in the U.S by the Internal Revenue Service. The Company has subsidiary operations in various other locations around the world, including Australia, Ireland, Sweden and the United Kingdom, that are subject to relevant taxes in those jurisdictions. These subsidiaries are not under examination but generally remain subject to examination in all applicable jurisdictions for tax years from 2018 through 2021. Deferred income taxes have not been accrued with respect to certain undistributed earnings of foreign subsidiaries as it is the intention that such earnings will remain reinvested or will not be taxable. If the earnings were to be distributed, as dividends or otherwise, such amounts may be subject to withholding tax in the country of the paying entity. Currently, however, no withholding taxes have been accrued. There were no unrecognized tax benefits at December 31, 2021 and 2020. Income before taxes and income tax benefit for the years ended December 31, 2021 and 2020 are as follows: For the Year Ended December 31, 2021 2020 Loss before income taxes – Domestic (Bermuda) $ (23,345) $ (9,648) Income before income taxes – Foreign (U.S. and others) 50,005 51,306 Total income before income taxes $ 26,660 $ 41,658 Current tax expense – Domestic (Bermuda) $ — $ — Current tax expense – Foreign (U.S. and others) 244 155 Total current tax expense $ 244 $ 155 Deferred tax expense – Domestic (Bermuda) $ — $ — Deferred tax benefit – Foreign (U.S. and others) (229) (259) Total deferred tax benefit $ (229) $ (259) Total income tax expense (benefit) $ 15 $ (104) 13. Income Taxes (continued) The following table is a reconciliation of the actual income tax rate for the years ended December 31, 2021 and 2020 to the amount computed by applying the effective tax rate of 0.0% under Bermuda law to the Company's income before income taxes: For the Year Ended December 31, 2021 2020 Income before income taxes $ 26,660 $ 41,658 Less: income tax expense (benefit) 15 (104) Net income $ 26,645 $ 41,762 Reconciliation of effective tax rate (% of income before income taxes) Bermuda tax rate — % — % U.S. taxes at statutory rates 24.3 % 19.2 % Re-domestication of Maiden Reinsurance to the U.S. — % (117.3) % Valuation allowance in respect of U.S. taxes (22.3) % 98.1 % Other jurisdictions (1.9) % (0.3) % Actual tax rate 0.1 % (0.3) % Deferred income taxes reflect the tax impact of temporary differences between the carrying amounts of assets and liabilities for financial reporting and income tax purposes. The significant components of the Company's deferred tax assets and liabilities at December 31, 2021 and 2020 were as follows: December 31, 2021 2020 Deferred tax assets: Net operating losses $ 48,346 $ 44,259 Unearned premiums 4,202 6,017 Capital loss carry-forward 2,831 4,234 Net unrealized losses on investments 2,236 — Discounting of net loss and LAE reserves 30,423 37,568 Interest limitation 11 — Deferred gain on retroactive reinsurance 10,282 23,719 Others 840 776 Deferred tax assets before valuation allowance 99,171 116,573 Valuation allowance 90,077 96,414 Deferred tax assets, net 9,094 20,159 Deferred tax liabilities: Deferred commission and other acquisition expenses 8,201 11,327 Net unrealized gains on investment — 8,197 Others 53 3 Deferred tax liabilities 8,254 19,527 Net deferred tax asset $ 840 $ 632 The net deferred tax asset at December 31, 2021 was $840 (2020 - $632). The Company recorded an increase in its deferred tax assets of $63,421 and an increase in its deferred tax liabilities of $16,120 as a result of the re-domestication of Maiden Reinsurance on March 16, 2020. A valuation allowance has been established against the net U.S. deferred tax assets which is primarily attributable to net operating losses and capital losses. At this time, the Company believes it is necessary to establish a valuation allowance against the U.S. net deferred tax assets due to insufficient positive evidence regarding the utilization of these losses. During 2021, the Company recorded a decrease in the valuation allowance of $6,337 (2020 - increase of $40,845). At December 31, 2021, the Company has available net operating loss carry-forwards of $230,220 (2020 - $210,756) for income tax purposes which expire beginning in 2029. At December 31, 2021, the Company also has a capital loss carry-forward of $13,483 (2020 - $20,161) which will expire in 2023.

Share Compensation and Pension

Share Compensation and Pension Plans	12 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement, Noncash Expense [Abstract]
Share Compensation and Pension Plans	Share Compensation and Pension Plans The Company’s Amended and Restated 2007 Share Incentive Plan ("2007 Plan") provided for grants of options, restricted shares and restricted share units. New shares were issued upon exercise of options and vesting of restricted shares and share units. The total number of common shares currently reserved for issuance under the Plan was 10,000,000. The 2007 Plan was administered by the Compensation Committee of the Board of Directors (the "Committee"). 2019 Omnibus Incentive Plan During the 2019 Annual General Meeting of Shareholders of the Company held on December 10, 2019, the 2007 Plan was terminated, assumed by and replaced with the 2019 Omnibus Incentive Plan ("2019 Omnibus Plan"). The Company filed with the Securities and Exchange Commission ("SEC") the Form S-8 "Securities offered to employees pursuant to employee benefit plans" on January 20, 2020, which covers the offer and resale of up to 11,289,956 of the Company's common shares. Such shares may be offered and sold from time to time by certain officers and directors of the Company who have acquired or will acquire such shares pursuant to the 2019 Plan. Share Options Exercise prices of options are established at or above the fair market value of the Company’s common shares at the date of grant. Under the 2019 Omnibus Plan, unless otherwise determined by the Committee and provided in an award agreement, 25% of the options will become exercisable on the first anniversary of the grant date, with an additional 6.25% of the options vesting each quarter thereafter based on the grantee’s continued employment over a four-year period, and will expire ten years after grant date. The fair value of each option grant is separately estimated for each vesting date. The fair value of each option is amortized into compensation expense on a straight-line basis between the grant date for the award and each vesting date. The Company has estimated the fair value of all share option awards on the date of the grant by applying the Black-Scholes-Merton multiple-option pricing valuation model. The application of this valuation model involves assumptions that are judgmental and highly sensitive in the determination of compensation expense. This table shows all share option activity under the 2019 Omnibus Plan for the years ended December 31, 2021 and 2020: Number of Weighted Weighted Aggregate Range of Option Exercise Prices (Low to High) Outstanding, December 31, 2019 484,129 $ 8.44 3.63 years $ — $1.31 $13.98 Expired (213,379) 7.50 Forfeited (6,250) 7.20 Outstanding, December 31, 2020 264,500 9.22 4.72 years — 1.31 13.98 Expired (49,500) 10.57 Outstanding, December 31, 2021 215,000 8.91 4.28 years 13.00 1.31 13.98 Total exercisable at December 31, 2021 211,250 9.05 4.23 years 7.00 1.31 13.98 The weighted average grant date fair value is $2.13 (2020 - $2.23) for all options outstanding at December 31, 2021. There was $1 (2020 - $9) of total unrecognized compensation cost related to non-vested options at December 31, 2021 which will be recognized during the next 1.04 years. There were no options exercised for the years ended December 31, 2021 and 2020. Restricted Shares The fair value of each restricted share is determined based on the market value of the Company's common shares on the date of grant. The total estimated fair value is amortized as an expense on a straight-line basis over the requisite service period as determined by the Committee, which varies between zero Non-Performance-Based ("NPB") Restricted Shares The Company changed its practice of awarding a fixed number of restricted share units to the non-employee directors in 2019 and currently grants each non-employee director $65 worth of compensation in the form of either restricted shares, which vest on the first anniversary of the grant, share options or cash. For the year ended December 31, 2021, the Company issued a total of 238,750 (2020 - 333,330) restricted shares to non-employee directors as well as employees for compensation related to their services. The restricted shares for non-employee directors were issued on June 1, 2021 pursuant to the 2019 Omnibus Plan and vest in full on June 1, 2022. It is the Company's intention that annually, on or around June 1, each non-employee director will receive a grant of $65 worth of compensation which, if non-cash compensation, will vest on the first anniversary of the grant. The restricted shares issued to other employees will vest after two years of service. The total fair value of NPB Restricted Shares that vested during the year ended December 31, 2021 was $1,442 (2020 - $1,136). 14. Share Compensation and Pension Plans (continued) Discretionary Performance-Based ("PB") Restricted Shares During the year ended December 31, 2021, a total of 1,322,410 (2020 - 982,974) restricted shares were granted to senior management and employees pursuant to the 2019 Omnibus Plan, of which 1,322,410 (2020 - 744,680) restricted shares vested immediately. The remaining restricted shares issued to other senior employees will vest within two years of service. The total fair value of PB Restricted Shares that vested during the year ended December 31, 2021 was $3,623 (2020 - $700). The following table shows the summary of activity for the Company's restricted share awards: Non-Performance-Based Restricted Shares Discretionary Performance-Based Restricted Shares Number of Weighted Average Grant-Date Fair Value Number of Weighted Average Grant-Date Fair Value Non-vested at December 31, 2019 1,818,797 $ 1.24 — $ — Awards granted 333,330 1.20 982,974 1.02 Awards vested (908,857) 1.25 (744,680) 0.94 Awards forfeited — — — — Non-vested at December 31, 2020 1,243,270 1.22 238,294 1.26 Awards granted 238,750 3.44 1,322,410 2.74 Awards vested (1,178,522) 1.22 (1,322,410) 2.74 Awards forfeited (54,166) 1.20 (200) 1.26 Non-vested at December 31, 2021 249,332 3.35 238,094 1.26 Total unrecognized compensation cost of $511 related to restricted shares at December 31, 2021, which will be recognized during the next 1.00 year. Total share-based expense for the year ended December 31, 2021 was $4,771 (2020 - $2,445). Pension Plans The Company provides pension benefits to eligible employees principally through its sponsorship of various defined contribution plans which vary by subsidiary. The Company’s total expenses for its defined contribution pension plans for the year ended December 31, 2021 was $764 (2020 - $782).

Statutory Requirements and Divi

Statutory Requirements and Dividend Restrictions	12 Months Ended
	Dec. 31, 2021
Statutory Financial Information [Abstract]
Statutory Requirements and Dividend Restrictions	Statutory Requirements and Dividend Restrictions Our insurance and reinsurance operations are subject to insurance and/or reinsurance laws and regulations in the jurisdictions in which they operate. These regulations include certain liquidity and solvency requirements whereby restrictions are imposed on the amount of dividends or other distributions, such as loans or cash advances, available to shareholders without prior approval of the insurance regulatory authorities. The statutory capital and surplus and statutory net (loss) income of our principal operating subsidiaries in their respective jurisdictions were as follows: Maiden Reinsurance Maiden LF Maiden GF Statutory Capital and Surplus December 31, 2021 $ 999,843 $ 8,250 $ 9,972 December 31, 2020 (a) 972,350 9,944 10,663 Statutory Net Income (Loss) For the Year Ended December 31, 2021 $ 36,309 $ (899) $ (1,018) For the Year Ended December 31, 2020 (a) 52,707 (1,164) 32 a) Bermuda Effective March 16, 2020, the Company's principal operating subsidiary Maiden Reinsurance re-domesticated from Bermuda to the State of Vermont in the U.S. Maiden Reinsurance is therefore subject to the statutes and regulations of Vermont in the ordinary course of business. We determined that re-domesticating Maiden Reinsurance to Vermont enables us to better align our 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 other strategic measures as described in "Note 1 — Organization" , has strengthened the Company’s capital position and solvency ratios. While the Vermont DFR is now the group supervisor for the Company, the re-domestication did not apply to the Parent Company which remains a Bermuda-based holding company. b) United States of America Under Vermont statutory regulations, no captive insurance company may pay a dividend out of, or other distribution with respect to, capital or surplus without the prior approval of the Commissioner. Approval of an ongoing plan for the payment of dividends or other distributions shall be conditioned upon the retention, at the time of each payment, of capital or surplus in excess of amounts specified by, or determined in accordance with formulas approved by, the Commissioner. Notwithstanding the provisions of 11B Vermont Statutes Annotated chapter 13, a captive insurance may make such distributions as are in conformity with its purposes and approved by the Commissioner. Maiden Reinsurance did not pay any dividends during the years ended December 31, 2021 and 2020. Maiden Reinsurance is also required to maintain minimum levels of solvency and liquidity as determined by Vermont law, and to comply with Risk-Based Capital ("RBC") requirements and licensing rules as specified by the National Association of Insurance Commissioners ("NAIC"). RBC is used to evaluate the adequacy of capital and surplus maintained by Maiden Reinsurance in relation to risks associated with: (i) asset risk; (ii) insurance risk; (iii) interest rate risk and (iv) business risk. At December 31, 2021, Maiden Reinsurance's statutory capital and surplus exceeded the amount required to be maintained of $132,779 as of that date. c) Sweden The Company has two Swedish domiciled insurance subsidiaries in Sweden, Maiden LF and Maiden GF, both regulated by the Swedish Finansinspektionen ("Swedish FSA"). Maiden LF was required to maintain a minimum level of statutory capital and surplus of $4,207 at December 31, 2021 (2020 - $5,204). This requirement was met by Maiden LF throughout the respective years. LF's statutory assets were $16,819 at December 31, 2021 (2020 - $19,705) and its statutory capital and surplus was $8,250 at December 31, 2021 (2020 - $9,944). Maiden LF is subject to statutory and regulatory restrictions under the Swedish FSA that limit the maximum amount of annual dividends or distributions paid by Maiden LF to Maiden Holdings. As of December 31, 2021 and 2020, Maiden LF was not allowed to pay dividends or distributions without the permission of the Swedish FSA. No dividends were paid during the years ended December 31, 2021 and 2020. Maiden GF was required to maintain a minimum level of statutory capital and surplus of $5,059 at December 31, 2021 (2020 - $6,905). This requirement was met by Maiden GF throughout the respective years. GF's statutory assets were $15,297 at December 31, 2021 (2020 - $13,832) and its statutory capital and surplus was $9,972 at December 31, 2021 (2020 - $10,663). Maiden GF is subject to statutory and regulatory restrictions under the Swedish FSA that limit the maximum amount of annual dividends or distributions paid by Maiden GF to Maiden Holdings. As of December 31, 2021, Maiden GF was allowed to pay dividends or distributions not exceeding $0 (2020 - $311). No dividends were paid during the years ended December 31, 2021 and 2020.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events In September 2021, the Company authorized the open market repurchase of its outstanding preference shares in accordance with a written plan adopted pursuant to Rule 10b5-1 of the Securities Exchange Act of 1934. The plan expires on March 31, 2022. The Company intends to finance these repurchases using its available unrestricted cash. Subsequent to December 31, 2021, under the Rule 10b5-1 plan, the Company repurchased via the open market (i) 170,633 shares of the Company's 7.125% Non-Cumulative Preference Shares Series C at an average price of $11.67 per share, and (ii) 85,828 shares o f the Company's 6.7% Non-Cumulative Preference Shares Series D at an average price of $10.97 per share for a total amount of $2,933. The acquisition by Maiden Reinsurance of these preference shares were made in compliance with the Company's investment guidelines previously approved by the Vermont DFR. These purchases will result in a gain on purchase of approximately $3,263 in the first quarter of 2022. The Company has a remaining authorization of $10,911 for preference share repurchases. As of March 14, 2022, Maiden Reinsurance owns 67.7%, 66.7% and 67.0% of the outstanding shares of the Series A, Series C and Series D Preference Shares, respectively.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Basis of Reporting and Consolidation	Basis of Reporting and Consolidation — These Consolidated Financial Statements have been prepared in conformity with accounting principles generally accepted in the U.S. ("U.S. GAAP") and include the accounts of Maiden Holdings and all of its subsidiaries. These Consolidated Financial Statements reflect all adjustments that are, in the opinion of management, necessary for a fair presentation of the results for the period and all such adjustments are of a normal recurring nature. All significant intercompany transactions and accounts have been eliminated. Certain prior year comparatives have been reclassified to conform to the current year presentation. The effect of these reclassifications had no impact on previously reported shareholders' equity or net income.
Estimates	Estimates — 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"), deferred gain on retroactive reinsurance; recoverability of reinsurance balances receivable, reinsurance recoverable on unpaid losses, funds withheld 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.
Investments	Fixed Maturity Investments — The Company classifies its fixed maturity investments as available-for-sale ("AFS"). The AFS portfolio is reported at fair value and any unrealized gains or losses are reported as a component of accumulated other comprehensive income ("AOCI") in shareholders' equity. The fair value of fixed maturity investments is generally determined from quotations received from third-party nationally recognized pricing services ("Pricing Service"), or when such prices are not available, by reference to broker or underwriter bid indications. Short-term investments - These investments are comprised of securities due to mature within one year of the date of purchase. The Company held no short-term investments as at December 31, 2021 and 2020. Other investments — The Company accounts for its other investments at fair value in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 944-325, "Financial Services - Insurance - Investments - Other" ("ASC 944-325"). Other investments are comprised of the following types of investments: • Privately held investments: These are direct equity investments in common and preferred stock of privately held entities. The fair values are estimated using quarterly financial statements and/or recent private market transactions. These investments are also comprised of investments in insurtech and other insurance focused companies. The fair value of these start-up insurance entities are determined using recent private market transactions where applicable. Any changes in fair value are reported in realized gains (losses) and recognized in net earnings. • Private credit funds: These are privately held equity investments in common stock of entities that lend money valued using the most recently available or quarterly net asset value ("NAV") statements as provided by the external fund manager or third-party administrator. Any changes in fair value are reported in realized gains (losses) and recognized in net earnings. • Private equity funds: These are comprised of private equity funds, private equity co-investments with sponsoring entities and investments in real estate limited partnerships and joint ventures . The fair value is estimated based on the most recently available NAV as advised by the external fund manager or third-party administrator. Any changes in fair value are reported in realized gains (losses) and recognized in net earnings. • Investments in direct lending entities: These investments are carried at cost less impairment, if any, with any indication of impairment recognized in income when determined. • Publicly traded equity investments: These investments are in the common stock of publicly traded entities. The fair value is primarily priced by pricing services, reflecting the closing price quoted for the final trading day of the period. The common stock is carried at fair value using observable market pricing data and any unrealized gains or losses on the investment is recorded in net income in the period in which they occur. The valuation of other investments is further described in Note 5 — Fair Value Measurements . Due to a lag in the valuations of certain funds reported by the investment managers, the Company may record changes in valuation with up to a three-month lag. The Company regularly reviews and discusses fund performance with the investment managers or sponsors to corroborate the reasonableness of the reported NAV and to assess whether any events have occurred within the lag period that would affect the valuation of the investments. Equity Method Investments — Investments in which the Company has significant influence over the operating and financial policies of the investee are classified as equity method investments and accounted for using the equity method of accounting. In applying the equity method of accounting, investments are initially recorded at cost and are subsequently adjusted based on the Company’s proportionate share of the investee's net income or loss, net of any distributions received. Adjustments are based on the most recent available financial information from the investee. Changes in the carrying value of these investments are recorded in net income as interest in income (loss) of equity method investments. The Company records its share of the investee’s OCI activity based on its proportionate share of the investee's common stock or capital, and books any OCI activity directly to the equity method investments account, with the offset recorded to the Company's AOCI. 2. Significant Accounting Policies (continued) Purchases and sales of investments are recorded on a trade date basis. Realized gains or losses on investment sales are determined based on the first in first out cost method. Net investment income is recognized when earned and includes accrued interest and dividend income together with amortization of market premiums and discounts using the effective yield method, net of investment management fees. For U.S. government agency mortgage-backed securities ("Agency MBS") and any other holdings for which there is a prepayment risk, prepayment assumptions are evaluated and revised as necessary. Any changes required due to movements in effective yields and maturities are recognized on a prospective basis through yield adjustments. A security is potentially impaired when its fair value falls below its amortized cost. On a quarterly basis, all potentially impaired securities are reviewed to determine whether the impairment is temporary or OTTI. OTTI assessments are inherently judgmental, especially where securities have experienced severe declines in fair value over a short period. The Company's review process begins with a quantitative analysis to identify securities to be further evaluated for potential classification as OTTI. For all identified securities, further fundamental analysis is performed that considers, but is not limited to, the following quantitative and qualitative factors: historic and implied volatility of the security; length of time and extent to which the fair value has been less than amortized cost; adverse conditions specifically related to the security or to specific conditions in an industry or geographic area; failure, if any, of the issuer of the security to make scheduled payments; and recoveries or additional declines in fair value subsequent to the balance sheet date. The Company recognizes OTTI losses within earnings for its impaired fixed maturity securities (i) for which the Company has the intent to sell the security or (ii) it is more likely than not that the Company will be required to sell the debt security before its anticipated recovery and (iii) for those securities which have a credit loss. In assessing whether a credit loss exists, the Company compares the present value of the cash flows expected to be collected from the security with the amortized cost basis of the security. In instances in which a determination is made that an impairment exists but the Company does not intend to sell the security and it is not more likely than not that the Company will be required to sell the security before the anticipated recovery of its remaining amortized cost basis, the impairment is separated into (i) the amount of the total impairment related to the credit loss and (ii) the amount of the total impairment related to all other factors. The amount of the total OTTI related to the credit loss is recognized in earnings. The amount of the total OTTI related to all other factors is recognized in OCI. In periods after the recognition of OTTI on the fixed maturity securities, the Company accounts for such securities as if they had been purchased on the measurement date of the OTTI at an amortized cost basis equal to the previous amortized cost basis less the OTTI recognized in earnings. For fixed maturity securities in which an OTTI loss was recognized in earnings, the difference between the new amortized cost basis and the cash flows expected to be collected will be amortized into net investment income.
Fair Value Measurements	Fair Value Measurements — ASC Topic 820, "Fair Value Measurements and Disclosures" ("ASC 820") defines fair value as the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between open market participants at the measurement date. Additionally, ASC 820 establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. The hierarchy is broken down into three levels based on the reliability of inputs: • Level 1 — Valuations based on unadjusted quoted market prices for identical assets or liabilities that we have the ability to access. Because valuations are based on quoted prices that are readily and regularly available in an active market, valuation of these products does not entail a significant degree of judgment. Examples of assets and liabilities utilizing Level 1 inputs include: U.S. Treasury bonds; • Level 2 — Valuations based on quoted prices for similar assets or liabilities in active markets, quoted prices for identical assets or liabilities in inactive markets, or valuations based on models where the significant inputs are observable (e.g. interest rates, yield curves, prepayment speeds, default rates, loss severity, etc.) or can be corroborated by observable market data. Examples of assets and liabilities utilizing Level 2 inputs include: U.S. government-sponsored agency securities; non-U.S. government and supranational obligations; commercial mortgage-backed securities ("CMBS"); collateralized loan obligations ("CLO"); corporate and municipal bonds; and • Level 3 — Valuations based on models where significant inputs are not observable. The unobservable inputs reflect our own assumptions about assumptions that market participants would use developed on the basis of the best information available in the particular circumstances. Examples of assets and liabilities utilizing Level 3 inputs include: an investment in preference shares of a start-up insurance producer. The availability of observable inputs can vary and is affected by a wide variety of factors, including, for example, the type of financial instrument, whether the financial instrument is new and not yet established in the marketplace, and other characteristics particular to the transaction. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires significantly more judgment. Accordingly, the degree of judgment exercised by management in determining fair value is greatest for instruments categorized in the Level 3 hierarchy. The Company uses prices and inputs that are current as at the measurement date. In periods of market dislocation, the observability of prices and inputs may be reduced for many instruments. This condition could cause a financial instrument to be reclassified between hierarchy levels. 2. Significant Accounting Policies (continued) For investments that have quoted market prices in active markets, the Company uses the quoted market prices as fair value and includes these in the Level 1 hierarchy. The Company receives quoted market prices from a third party nationally recognized Pricing Service. When quoted market prices are unavailable, the Company utilizes the Pricing Service to determine an estimate of fair value. The fair value estimates are included in the Level 2 hierarchy. The Company will challenge any prices for its investments which are considered not to be representative of fair value. If quoted market prices and an estimate from the Pricing Service are unavailable, the Company produces an estimate of fair value based on dealer quotations for recent activity in positions with the same or similar characteristics to that investment being valued. The Company determines whether the fair value estimate is in the Level 2 or Level 3 hierarchy depending on the level of observable inputs available when estimating the fair value. The Company bases its estimates of fair values for assets on the bid price as it represents what a third party market participant would be willing to pay in an orderly transaction.
Cash and Cash Equivalents	Cash and Cash Equivalents — The Company maintains cash accounts in several banks and brokerage institutions. Cash equivalents consist of investments in money market funds and short-term investments with an original maturity of 90 days or less and are stated at cost, which approximates fair value. Restricted cash and cash equivalents are separately reported in the Consolidated Balance Sheets. The Company maintains certain cash and investments in trust accounts used primarily as collateral for unearned premiums and loss and LAE reserves owed to insureds. The Company is required to maintain minimum balances in these restricted accounts based on pre-determined formulas.
Premiums and Related Expenses	Premiums and Related Expenses — For pro-rata contracts and excess-of-loss contracts where no deposit or minimum premium is specified in the contract, premium written is recognized based on estimates of ultimate premiums provided by the ceding companies. Initial estimates of premium written are recognized in the period in which the underlying risks are incepted. Subsequent adjustments, based on reports of actual premium by the ceding companies, or revisions in estimates, are recorded in the period in which they are determined. Reinsurance premiums assumed are generally earned on a pro-rata basis over the terms of the underlying policies or reinsurance contracts. Contracts and policies written on a "losses occurring" basis cover claims that may occur during the term of the contract or policy, which is typically twelve months. Accordingly, the premium is earned evenly over the term. Contracts which are written on a "risks attaching" basis cover claims which attach to the underlying insurance policies written during the terms of such contracts. Premiums earned on such contracts usually extend beyond the original term of the reinsurance contract, typically resulting in recognition of premiums earned over a 24-month period. Reinsurance premiums on specialty risk and extended warranty are earned based on the estimated program coverage period. These estimates are based on the expected distribution of coverage periods by contract at inception, because a single contract may contain multiple coverage period options, and these estimates are revised based on the actual coverage period selected by the original insured. Unearned premiums represent the portion of premiums written which is applicable to the unexpired term of the contract or policy in force. These premiums can be subject to estimates based upon information received from ceding companies and any subsequent differences arising on such estimates are recorded in the period in which they are determined. Assumed and ceded reinsurance contracts that lack a significant transfer of risk are treated as deposits. No deposit contracts are held as at December 31, 2021 and 2020. Acquisition expenses represent the costs of writing business that vary with, and are primarily related to, the production of that business. Policy and contract acquisition expenses, including assumed commissions, are deferred and recognized as expense as the related premiums are earned.
Loss and LAE	Loss and LAE — Loss and LAE represent the estimated ultimate net costs of all reported and unreported losses incurred through December 31 of the latest fiscal year. The reserve for loss and LAE is estimated using a statistical analysis of actuarial data and is not discounted for the time value of money. Although considerable variability is inherent in the estimates of reserves for loss and LAE, management believes that the reserve for loss and LAE is adequate based on known information to date. In estimating loss reserves, the Company utilizes a variety of standard actuarial methods. These estimates are continually reviewed and adjusted as necessary as experience develops or new information becomes available. Such adjustments are included and reported in current operations as favorable or unfavorable prior period development.
Reinsurance and Retroactive Reinsurance	Reinsurance — Reinsurance premiums and loss and LAE ceded to other companies are accounted for on a basis consistent with those used in accounting for original policies issued and pursuant to the terms of the reinsurance contracts. The Company records premiums earned and loss and LAE incurred and ceded to other companies as reduction of premium revenue and loss and LAE, respectively. The unexpired portion of reinsurance purchased by the Company (retrocession or reinsurance premiums ceded) is included in other assets and amortized over the contract period in proportion to the amount of insurance protection provided. The ultimate amount of premiums, including adjustments, is recognized as premiums ceded and amortized over the applicable contract period to which they apply. Premiums earned are reported net of reinsurance in the Consolidated Statements of Income. Reinsurance recoverable on unpaid losses relate to the portion of reserves and paid losses and LAE that are ceded to other companies. Reinsurance recoverable on unpaid losses are separately recorded as an asset in the Consolidated Balance Sheets. The Company remains contingently liable for all loss payments in the event of failure to collect from reinsurers. 2. Significant Accounting Policies (continued) Retroactive Reinsurance - Retroactive reinsurance agreements are those in which a reinsurer agrees to reimburse the ceding company for liabilities incurred as a result of past insurable loss events. We do not record any income or expense on recognition of the reinsurance contract's assets and liabilities at inception. Any subsequent remeasurement of the value of liabilities is recorded to net loss and LAE within the Consolidated Statements of Income. For ceded retroactive agreement, the excess of the amounts ultimately collectible under the agreement over the consideration paid is recognized as a deferred gain liability which is amortized into income over the settlement period of the ceded reserves once the paid losses have exceeded the minimum retention. The amount of the deferral is recalculated each period based on actual loss payments and updated estimates of ultimate losses. If the consideration paid exceeds the ultimate losses collectible under the agreement, the net loss on the retroactive reinsurance agreement is recognized within income immediately.
Debt Obligations and Deferred Debt Issuance Costs	Debt Obligations and Deferred Debt Issuance Costs — Costs incurred in issuing debt are capitalized and amortized over the contractual life of the debt. The amortization of these costs are included in interest and amortization expenses in the Consolidated Statements of Income. The unamortized amount of issuance costs is presented as a deduction from the related principal liability for senior notes in the Consolidated Balance Sheets.
Leases	Leases — The Company's leases are all currently classified as operating leases and none of them have non-lease components. For operating leases that have a lease term of more than twelve months, the Company recognized a lease liability (presented as part of accrued expenses and other liabilities) and a right-of-use asset (presented as part of other assets) in the Consolidated Balance Sheets at the present value of the remaining lease payments until expiration. As the lease contracts generally do not provide an implicit discount rate, the Company used a weighted-average discount rate of 10%, representing its estimated secured incremental borrowing rate, in calculating the present value of the lease liability. The Company has made an accounting policy election not to include renewal, termination, or purchase options that are not reasonably certain of exercise when determining the term of the borrowing. The Company recognizes the related leasing expense on a straight-line basis over the lease term in the Company's Consolidated Statements of Income.
Non-controlling Interests	Non-controlling Interests — The Company accounts for non-controlling interests in subsidiaries in accordance with ASC Topic 810 " Consolidations"
Income Taxes	Income Taxes — The Company accounts for income taxes using ASC Topic 740 " Income Taxes" for subsidiaries operating in taxable jurisdictions. Deferred income taxes reflect the expected future tax consequences of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and amounts used for income tax purposes. A valuation allowance is recorded if it is more likely than not that some or all of a deferred tax asset may not be realized. The Company considers future taxable income and feasible tax planning strategies in assessing the need for a valuation allowance. In the event the Company determines that it will not be able to realize all or part of its deferred income tax assets in the future, an adjustment to the deferred income tax assets would be charged to income in the period in which such determination is made. In addition, if the Company subsequently assesses that the valuation allowance is no longer needed, a benefit would be recorded to income in the period in which such determination is made.
Share-Based Compensation Expense	Share-Based Compensation Expense — Pursuant to the 2019 Omnibus Incentive Plan, the Company is authorized to issue restricted share awards and performance-based restricted shares, share options and other equity-based awards to its employees and directors. The Company recognizes the compensation expense for share options and restricted share grants based on the fair value of the award on the date of grant, over the requisite service vesting period. Forfeitures are accounted for if and when they occur. The estimated fair value of the grant is amortized ratably over its vesting period as a charge to compensation expense (as a component of general and administrative expenses) and an increase to additional paid-in capital in the Consolidated Shareholders’ Equity.
Earnings Per Share	Earnings Per Share — Basic earnings per share are computed based on the weighted-average number of common shares outstanding and exclude any dilutive effects of share options, and unvested restricted shares units. Dilutive earnings per share are computed using the weighted-average number of common shares outstanding during the period adjusted for the dilutive impact of share options. The two-class method is used to determine earnings per share based on dividends declared on common shares and participating securities (i.e. distributed earnings) and participation rights of participating securities in any undistributed earnings. Each unvested restricted share granted by the Company to certain employees and directors is considered a participating security and the two-class method is used to calculate net income attributable to Maiden common shareholders per common share – basic and diluted. However, any undistributed losses are not allocated to the participating securities.
Treasury Shares	Treasury Shares — Treasury shares include common shares repurchased by the Company and not subsequently cancelled as well as share repurchases from employees, which represent withholding in respect of tax obligations on the vesting of restricted shares and performance based shares. Treasury shares are recorded at cost and result in a reduction of the total Maiden shareholders’ equity in the Consolidated Balance Sheets.
Foreign Currency Transactions	Foreign Currency Transactions — The functional currency of the Company and many of its subsidiaries is the U.S. dollar. For these companies, monetary assets and liabilities denominated in foreign currencies are translated at year-end exchange rates, with resulting foreign exchange gains and losses recognized in the Consolidated Statements of Income. Revenues and expenses in foreign currencies are converted at average exchange rates during the year. Monetary assets and liabilities include cash and cash equivalents, reinsurance balances receivable, reinsurance recoverable on unpaid losses, funds withheld receivable, reserve for loss and LAE and accrued expenses and other liabilities. Accounts that are classified as non-monetary such as deferred commission and other acquisition expenses and unearned premiums are not revalued.
Recently Adopted and Issued Accounting Standards	Recently Adopted Accounting Standards Updates No new accounting standards have been recently adopted for the year ended December 31, 2021. Recently Issued Accounting Standards Not Yet Adopted Accounting for Measurement of Credit Losses on Financial Instruments In June 2016, the FASB issued ASU 2016-13 "Financial Instruments: Credit Losses (Topic 326)" replacing the "incurred loss" impairment methodology with an approach based on "expected losses" to estimate credit losses on certain types of financial instruments and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The guidance requires financial assets to be presented at the net amount expected to be collected. The allowance for credit losses is a valuation account that is deducted from the cost of the financial asset to present the net carrying value at the amount expected to be collected on the financial asset. ASU 2016-13 also modified the accounting for AFS debt securities, which must be individually assessed for credit losses when fair value is less than the amortized cost basis, in accordance with Subtopic 326-30, Financial Instruments: Credit Losses Available-for-Sale Debt Securities . Credit losses relating to AFS debt securities will be recorded through an allowance for credit losses rather than under the current OTTI methodology. In April 2019, the FASB issued ASU 2019-04 for targeted improvements related to ASU 2016-13 which clarify that an entity should include all expected recoveries in its estimate of the allowance for credit losses. In addition, for collateral dependent financial assets, the amendments mandate that an allowance for credit losses that is added to the amortized cost basis of the financial asset should not exceed amounts previously written off. It also clarifies FASB’s intent to include all reinsurance recoverables within the scope of Topic 944 to be within the scope of Subtopic 326-20 , regardless of the measurement basis of those recoverables. The Company's reinsurance recoverable on unpaid losses is currently the most significant financial asset within the scope of ASU 2016-13. The guidance is effective for public business entities, excluding entities eligible to be smaller reporting companies ("SRCs") as defined by the SEC, for annual periods beginning after December 15, 2019, and interim periods therein. The guidance is effective for all other entities, including public entities eligible to be SRCs, for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. As of December 31, 2021, the Company qualified for SRC status, as determined on the last business day of its most recent second quarter, and thus remains eligible to follow the reporting deadlines and effective dates applicable to SRCs. Therefore, Topic 326 will not be effective until fiscal year 2023. The Company continues to evaluate the impact of this guidance on its results of operations, financial condition and liquidity.

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
Underwriting results and reconciliation from reportable segments and other's category net income (loss) to consolidated	The following tables summarize the underwriting results of our reportable segments and the reconciliation of our reportable segments' underwriting results to consolidated net income: For the Year Ended December 31, 2021 Diversified Reinsurance AmTrust Reinsurance Total Gross premiums written $ 16,633 $ (5,695) $ 10,938 Net premiums written $ 16,098 $ (5,695) $ 10,403 Net premiums earned $ 27,681 $ 25,312 $ 52,993 Other insurance revenue 1,067 — 1,067 Net loss and LAE (4,286) (3,021) (7,307) Commission and other acquisition expenses (15,093) (9,747) (24,840) General and administrative expenses (7,827) (2,514) (10,341) Underwriting income $ 1,542 $ 10,030 11,572 Reconciliation to net income Net investment income and net realized and unrealized gains on investment 44,661 Interest and amortization expenses (19,327) Foreign exchange and other gains, net 7,685 Other general and administrative expenses (25,679) Income tax expense (15) Interest in income from equity method investments 7,748 Net income $ 26,645 Net loss and LAE ratio (1) 14.9 % 11.9 % 13.5 % Commission and other acquisition expense ratio (2) 52.5 % 38.5 % 46.0 % General and administrative expense ratio (3) 27.2 % 9.9 % 66.6 % Expense ratio (4) 79.7 % 48.4 % 112.6 % Combined ratio (5) 94.6 % 60.3 % 126.1 % 3. Segment Information (continued) For the Year Ended December 31, 2020 Diversified Reinsurance AmTrust Reinsurance Total Gross premiums written $ 40,457 $ (9,068) $ 31,389 Net premiums written $ 37,258 $ (8,826) $ 28,432 Net premiums earned $ 47,847 $ 58,234 $ 106,081 Other insurance revenue 1,276 — 1,276 Net loss and LAE (24,909) (16,890) (41,799) Commission and other acquisition expenses (18,475) (20,321) (38,796) General and administrative expenses (6,936) (2,552) (9,488) Underwriting (loss) income $ (1,197) $ 18,471 17,274 Reconciliation to net income Net investment income and net realized and unrealized gains on investment 79,234 Total other-than-temporary impairment losses (2,468) Interest and amortization expenses (19,324) Foreign exchange and other losses, net (8,526) Other general and administrative expenses (29,630) Income tax benefit 104 Interest in income from equity method investments 5,098 Net income $ 41,762 Net loss and LAE ratio (1) 50.7 % 29.0 % 38.9 % Commission and other acquisition expense ratio (2) 37.6 % 34.9 % 36.1 % General and administrative expense ratio (3) 14.1 % 4.4 % 36.4 % Expense ratio (4) 51.7 % 39.3 % 72.5 % Combined ratio (5) 102.4 % 68.3 % 111.4 % (1) Calculated by dividing the net loss and LAE by the sum of net premiums earned and other insurance revenue. (2) Calculated by dividing commission and other acquisition expenses by the sum of net premiums earned and other insurance revenue. (3) Calculated by dividing general and administrative expenses by the sum of net premiums earned and other insurance revenue. (4) Calculated by adding together the commission and other acquisition expense ratio and general and administrative expense ratio. (5) Calculated by adding together the net loss and LAE ratio and the expense ratio.
Reconciliation of assets from segment to consolidated	The following tables summarize the financial position of our reportable segments including the reconciliation to the Company's consolidated total assets at December 31, 2021 and 2020: December 31, 2021 Diversified Reinsurance AmTrust Reinsurance Total Reinsurance balances receivable, net $ 1,927 $ 17,471 $ 19,398 Reinsurance recoverable on unpaid losses 2,979 490,860 493,839 Deferred commission and other acquisition expenses 2,533 34,170 36,703 Loan to related party — 167,975 167,975 Restricted cash and cash equivalents and investments 83,143 499,004 582,147 Funds withheld receivable 34,952 601,460 636,412 Other assets 582 — 582 Total assets - reportable segments 126,116 1,810,940 1,937,056 Corporate assets — — 385,554 Total Assets $ 126,116 $ 1,810,940 $ 2,322,610 December 31, 2020 Diversified Reinsurance AmTrust Reinsurance Total Reinsurance balances receivable, net $ 5,560 $ — $ 5,560 Reinsurance recoverable on unpaid losses 4,658 519,941 524,599 Deferred commission and other acquisition expenses 6,171 45,732 51,903 Loan to related party — 167,975 167,975 Restricted cash and cash equivalents and investments 87,419 992,636 1,080,055 Funds withheld receivable 51,712 603,093 654,805 Other assets 860 — 860 Total assets - reportable segments 156,380 2,329,377 2,485,757 Corporate assets — — 462,698 Total Assets $ 156,380 $ 2,329,377 $ 2,948,455
Schedule of gross and net premiums written and net premiums earned by geographic location	The following table shows an analysis of gross and net premiums written and net premiums earned by geographic location for the years ended December 31, 2021 and 2020. In the case of reinsurance business assumed from AmTrust, the table refers to the location of the relevant AmTrust subsidiaries. For the Year Ended December 31, 2021 2020 Gross premiums written – North America $ (7,649) $ (10,979) Gross premiums written – Other (predominantly Europe) 18,587 42,368 Gross premiums written – Total $ 10,938 $ 31,389 Net premiums written – North America $ (7,320) $ (10,836) Net premiums written – Other (predominantly Europe) 17,723 39,268 Net premiums written – Total $ 10,403 $ 28,432 Net premiums earned – North America $ (6,948) $ (10,207) Net premiums earned – Other (predominantly Europe) 59,941 116,288 Net premiums earned – Total $ 52,993 $ 106,081
Schedule of net premiums by major line of business	The following table sets forth financial information relating to net premiums written by major line of business and reportable segment for the years ended December 31, 2021 and 2020: For the Year Ended December 31, 2021 2020 Net premiums written Total % of Total Total % of Total Diversified Reinsurance International $ 16,098 154.7 % $ 37,294 131.2 % Other — — % (36) (0.1) % Total Diversified Reinsurance 16,098 154.7 % 37,258 131.1 % AmTrust Reinsurance Small Commercial Business (6,445) (61.9) % (11,515) (40.5) % Specialty Program (876) (8.4) % (19) (0.1) % Specialty Risk and Extended Warranty 1,626 15.6 % 2,708 9.5 % Total AmTrust Reinsurance (5,695) (54.7) % (8,826) (31.1) % Total Net Premiums Written $ 10,403 100.0 % $ 28,432 100.0 % The following table sets forth financial information relating to net premiums earned by major line of business and reportable segment for the years ended December 31, 2021 and 2020: For the Year Ended December 31, 2021 2020 Net premiums earned Total % of Total Total % of Total Diversified Reinsurance International $ 27,681 52.2 % $ 47,883 45.1 % Other — — % (36) — % Total Diversified Reinsurance 27,681 52.2 % 47,847 45.1 % AmTrust Reinsurance Small Commercial Business (6,095) (11.5) % (10,938) (10.3) % Specialty Program (853) (1.6) % 33 — % Specialty Risk and Extended Warranty 32,260 60.9 % 69,139 65.2 % Total AmTrust Reinsurance 25,312 47.8 % 58,234 54.9 % Total Net Premiums Earned $ 52,993 100.0 % $ 106,081 100.0 %

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 31, 2021
Schedule of Investments [Abstract]
Schedule of amortized cost, gross unrealized gains and losses and fair value on fixed maturities	The amortized cost, gross unrealized gains and losses, and fair value of fixed maturities at December 31, 2021 and 2020 are as follows: December 31, 2021 Original or Gross Gross Fair value Fixed maturities: U.S. treasury bonds $ 59,989 $ — $ (110) $ 59,879 U.S. agency bonds – mortgage-backed 96,554 2,429 (193) 98,790 Non-U.S. government bonds 3,163 113 — 3,276 Asset-backed securities (1) 198,946 705 (5,093) 194,558 Corporate bonds 236,692 10,094 (6,144) 240,642 Total fixed maturity investments $ 595,344 $ 13,341 $ (11,540) $ 597,145 December 31, 2020 Original or Gross Gross Fair value Fixed maturities: U.S. treasury bonds $ 94,468 $ 34 $ — $ 94,502 U.S. agency bonds – mortgage-backed 272,124 9,439 (126) 281,437 Non-U.S. government bonds 8,641 1,067 — 9,708 Asset-backed securities (1) 184,227 1,611 (406) 185,432 Corporate bonds 604,463 40,904 (3,035) 642,332 Total fixed maturity investments $ 1,163,923 $ 53,055 $ (3,567) $ 1,213,411 (1) Asset-backed securities are comprised primarily of collateralized loan obligations.
Schedule of contractual maturities of fixed maturities	The contractual maturities of our fixed maturities are shown below. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Fixed maturities December 31, 2021 Amortized cost Fair value Maturity Due in one year or less $ 66,193 $ 65,742 Due after one year through five years 202,405 206,028 Due after five years through ten years 30,634 31,476 Due after ten years 612 551 299,844 303,797 U.S. agency bonds – mortgage-backed 96,554 98,790 Asset-backed securities (1) 198,946 194,558 Total fixed maturities $ 595,344 $ 597,145 (1) Asset-backed securities are comprised primarily of collateralized loan obligations.
Summary of fixed maturities in an unrealized loss position and the aggregate fair value and gross unrealized loss by length of time the securities have continuously been in an unrealized loss position	The following tables summarize fixed maturities in an unrealized loss position and the aggregate fair value and gross unrealized loss by length of time the security has continuously been in an unrealized loss position: Less than 12 Months 12 Months or More Total December 31, 2021 Fair Unrealized Fair Unrealized Fair Unrealized U.S. treasury bonds $ 59,879 $ (110) $ — $ — $ 59,879 $ (110) U.S. agency bonds – mortgage-backed 4,415 (193) — — 4,415 (193) Asset-backed securities (1) 117,148 (5,057) 5,064 (36) 122,212 (5,093) Corporate bonds 38,537 (2,775) 27,852 (3,369) 66,389 (6,144) Total temporarily impaired fixed maturity securities $ 219,979 $ (8,135) $ 32,916 $ (3,405) $ 252,895 $ (11,540) (1) Asset-backed securities are comprised primarily of collateralized loan obligations. Less than 12 Months 12 Months or More Total December 31, 2020 Fair Unrealized Fair Unrealized Fair Unrealized U.S. agency bonds – mortgage-backed $ 19,360 $ (85) $ 5,646 $ (41) $ 25,006 $ (126) Asset-backed securities (1) 13,371 (217) 31,052 (189) 44,423 (406) Corporate bonds 31,839 (890) 65,296 (2,145) 97,135 (3,035) Total temporarily impaired fixed maturity securities $ 64,570 $ (1,192) $ 101,994 $ (2,375) $ 166,564 $ (3,567) (1) Asset-backed securities are comprised primarily of collateralized loan obligations.
Schedule of summary of the credit ratings of fixed maturities	The following tables summarize the credit ratings of our fixed maturity securities as at December 31, 2021 and 2020: December 31, 2021 Amortized cost Fair value % of Total U.S. treasury bonds $ 59,989 $ 59,879 10.0 % U.S. agency bonds 96,554 98,790 16.6 % AAA 161,179 156,706 26.2 % AA+, AA, AA- 38,999 39,140 6.6 % A+, A, A- 99,748 99,962 16.7 % BBB+, BBB, BBB- 126,770 129,618 21.7 % BB+ or lower 12,105 13,050 2.2 % Total fixed maturities (1) $ 595,344 $ 597,145 100.0 % December 31, 2020 Amortized cost Fair value % of Total U.S. treasury bonds $ 94,468 $ 94,502 7.8 % U.S. agency bonds 272,124 281,437 23.2 % AAA 96,453 97,515 8.0 % AA+, AA, AA- 114,751 118,534 9.8 % A+, A, A- 265,725 281,364 23.2 % BBB+, BBB, BBB- 274,406 292,493 24.1 % BB+ or lower 45,996 47,566 3.9 % Total fixed maturities (1) $ 1,163,923 $ 1,213,411 100.0 %
Schedule of portfolio of other investments	The table below shows the composition of the Company's other investments as at December 31, 2021 and 2020: December 31, 2021 2020 Carrying Value % of Total Carrying Value % of Total Privately held equity investments $ 52,013 36.7 % $ 22,844 35.8 % Private credit funds 38,656 27.3 % 1,301 2.0 % Private equity funds 6,906 4.9 % 3,044 4.8 % Publicly traded equity investments 1,174 0.8 % — — % Total other investments at fair value 98,749 69.7 % 27,189 42.6 % Investments in direct lending entities (at cost) 42,976 30.3 % 36,571 57.4 % Total other investments $ 141,725 100.0 % $ 63,760 100.0 %
Schedule of the remaining unfunded commitments on other investments	The Company's unfunded commitments on other investments held at December 31, 2021 and 2020 were as follows: December 31, 2021 2020 Amount % of Total Amount % of Total Private equity funds $ 10,762 17.7 % $ 326 0.5 % Private credit funds 22,236 36.7 % 33,584 53.0 % Investments in direct lending entities 13,216 21.8 % 19,823 31.3 % Privately held equity investments 14,463 23.8 % 9,580 15.2 % Total unfunded commitments on other investments $ 60,677 100.0 % $ 63,313 100.0 %
Schedule of equity method investments	The table below shows the carrying value of the Company's equity method investments as at December 31, 2021 and 2020: December 31, 2021 2020 Carrying Value % of Total Carrying Value % of Total Real estate investments $ 44,050 52.6 % $ — — % Hedge fund investments 32,929 39.3 % 29,435 68.2 % Other investments 6,763 8.1 % 13,701 31.8 % Total equity method investments $ 83,742 100.0 % $ 43,136 100.0 %
Schedule of net investment income	Net investment income was derived from the following sources for the years ended December 31, 2021 and 2020: For the Year Ended December 31, 2021 2020 Fixed maturities $ 19,146 $ 36,258 Income on funds withheld 10,623 15,942 Interest income from loan to related party 3,492 3,996 Cash and cash equivalents and other investments 1,100 1,402 34,361 57,598 Investment expenses (2,348) (2,837) Net investment income $ 32,013 $ 54,761
Schedule of analysis of realized and unrealized gains on investment	The following tables show the net realized and unrealized gains (losses) on investment included in the Consolidated Statements of Income for the years ended December 31, 2021 and 2020: 4. Investments (continued) For the Year Ended December 31, 2021 Gross gains Gross losses Net Fixed maturities $ 9,838 $ (741) $ 9,097 Other investments 8,074 (4,523) 3,551 Net realized and unrealized gains (losses) on investment $ 17,912 $ (5,264) $ 12,648 For the Year Ended December 31, 2020 Gross gains Gross losses Net Fixed maturities $ 24,101 $ (1) $ 24,100 Other investments 392 (19) 373 Net realized and unrealized gains (losses) on investment $ 24,493 $ (20) $ 24,473 For the Year Ended December 31, 2021 2020 Net gains recognized for other investments during the period $ 3,551 $ — Less: Net gains recognized for other investments divested during the period (3,377) — Net unrealized gains recognized for other investments still held at reporting date $ 174 $ —
Schedule of net unrealized gains on fixed maturity investments	Net unrealized gains on fixed maturity investments were as follows at December 31, 2021 and 2020, respectively: December 31, 2021 2020 Fixed maturities $ 1,801 $ 49,488 Equity method investments (4,414) — Total net unrealized (losses) gains (2,613) 49,488 Deferred income tax (80) (131) Net unrealized (losses) gains, net of deferred income tax $ (2,693) $ 49,357 Change, net of deferred income tax $ (52,050) $ 27,361
Schedule of fair value of restricted assets	The fair values of these restricted assets were as follows at December 31, 2021 and 2020: December 31, 2021 2020 Restricted cash – third party agreements $ 19,177 $ 20,547 Restricted cash – related party agreements 20,242 41,239 Total restricted cash 39,419 61,786 Restricted investments – in trust for third party agreements at fair value (amortized cost: 2021 – $48,860; 2020 – $63,253) 48,845 63,281 Restricted investments – in trust for related party agreements at fair value (amortized cost: 2021 – $493,128; 2020 – $913,466) 493,883 954,988 Total restricted investments 542,728 1,018,269 Total restricted cash and investments $ 582,147 $ 1,080,055

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Schedule of fair value hierarchy of financial assets and financial liabilities measured on a recurring basis	At December 31, 2021 and 2020, the Company classified its financial instruments measured at fair value on a recurring basis in the following valuation hierarchy: December 31, 2021 Quoted Prices Significant Significant Fair Value Based on NAV Practical Expedient Total Fair Fixed maturities U.S. treasury bonds $ 59,879 $ — $ — $ — $ 59,879 U.S. agency bonds – mortgage-backed — 98,790 — — 98,790 Non-U.S. government bonds — 3,276 — — 3,276 Asset-backed securities (1) — 194,558 — — 194,558 Corporate bonds — 240,642 — — 240,642 Other investments 1,174 — 27,094 70,481 98,749 Total $ 61,053 $ 537,266 $ 27,094 $ 70,481 $ 695,894 As a percentage of total assets 2.6 % 23.1 % 1.2 % 3.0 % 29.9 % December 31, 2020 Quoted Prices Significant Significant Fair Value Based on NAV Practical Expedient Total Fair Fixed maturities U.S. treasury bonds $ 94,502 $ — $ — $ — $ 94,502 U.S. agency bonds – mortgage-backed — 281,437 — — 281,437 Non-U.S. government bonds — 9,708 — — 9,708 Asset-backed securities (1) — 185,432 — — 185,432 Corporate bonds — 642,332 — — 642,332 Other investments — — 22,844 4,345 27,189 Total $ 94,502 $ 1,118,909 $ 22,844 $ 4,345 $ 1,240,600 As a percentage of total assets 3.2 % 37.9 % 0.8 % 0.1 % 42.0 % (1) Asset-backed securities is comprised primarily of collateralized loan obligations.
Significant unobservable inputs for determining fair value of other investments	The following table provides a summary of quantitative information regarding the significant unobservable inputs used in determining the fair value of other investments measured at fair value on a recurring basis under the Level 3 classification at December 31, 2021: Fair Value Valuation Technique Unobservable Inputs Range Privately held equity investments $ 25,294 Quarterly financial statements Estimated maturity dates 1.0 years to 3.0 years Privately held equity investments 1,800 Recent market transactions Liquidity discount rates Total Level 3 investments $ 27,094
Reconciliation of other investments measured at fair value on a recurring basis using Level 3 inputs	The following table shows the reconciliation of the beginning and ending balances for other investments measured at fair value on a recurring basis using Level 3 inputs for the year ended December 31, 2021 and 2020. The Company includes any related interest and dividend income in net investment income and thus, are excluded from the reconciliation in the table below: For the Year Ended December 31, 2021 2020 Balance - beginning of period $ 22,844 $ 1,800 Purchases 5,250 21,044 Transfers out of Level 3 (1,000) — Total Level 3 investments - end of period $ 27,094 $ 22,844
Schedule of carrying values of financial instruments not measured at fair value	The following table presents the respective carrying value and fair value for the Senior Notes as at December 31, 2021 and 2020: December 31, 2021 December 31, 2020 Carrying Value Fair Value Carrying Value Fair Value Senior Notes - MHLA – 6.625% $ 110,000 $ 94,820 $ 110,000 $ 90,772 Senior Notes - MHNC – 7.75% 152,500 140,300 152,500 132,126 Total Senior Notes $ 262,500 $ 235,120 $ 262,500 $ 222,898

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2021
Stockholders' Equity Note [Abstract]
Schedule of changes in common shares outstanding	The following table shows the summary of changes in the Company's common shares outstanding: For the Year Ended December 31, 2021 2020 Outstanding shares – January 1 84,801,161 83,148,458 Issuance of vested restricted shares and restricted share units 2,500,932 1,653,537 Shares repurchased (834,851) (834) Outstanding shares – December 31 86,467,242 84,801,161 b) Preference shares
Schedule of preference shares repurchased and outstanding	The following table shows the summary of the Company's preference shares repurchases made during the years ended December 31, 2021 and 2020: 2021 2020 Number of shares purchased Average price of shares purchased Number of shares purchased Average price of shares purchased Series A 3,519,093 $ 14.74 545,218 $ 10.50 Series C 3,026,764 14.36 1,203,466 10.50 Series D 2,858,155 14.27 1,078,911 10.50 Total 9,404,012 14.48 2,827,595 10.50 Total price paid $ 136,155 $ 29,690 Gain on purchase $ 90,998 $ 38,195 The following table shows the summary of changes for the Company's preference shares outstanding (including the total of the Company's preference shares held by Maiden Reinsurance pursuant to the 2020 Tender Offer and the 2021 Preference Share Repurchase Program) at December 31, 2021: Series A Series C Series D Total Outstanding shares issued by Maiden Holdings 6,000,000 6,600,000 6,000,000 18,600,000 Less: Total shares held by Maiden Reinsurance - December 31, 2021 4,064,311 4,230,230 3,937,066 12,231,607 Total shares held by non-affiliates December 31, 2021 1,935,689 2,369,770 2,062,934 6,368,393 Percentage held by Maiden Reinsurance - December 31, 2021 67.7 % 64.1 % 65.6 % 65.8 %
Schedule of accumulated other comprehensive income	The following tables set forth financial information regarding the changes in the balances of each component of AOCI for the years ended December 31, 2021 and 2020: For the Year Ended December 31, 2021 Change in net unrealized gains on investment Foreign currency translation adjustments Total Beginning balance $ 49,357 $ (25,500) $ 23,857 Other comprehensive (loss) income before reclassifications (33,263) 15,978 (17,285) Amounts reclassified from AOCI to net income, net of tax (18,787) — (18,787) Net current period other comprehensive (loss) income (52,050) 15,978 (36,072) Ending balance, Maiden shareholders $ (2,693) $ (9,522) $ (12,215) For the Year Ended December 31, 2020 Change in net unrealized gains on investment Foreign currency translation adjustments Total Beginning balance $ 21,996 $ (4,160) $ 17,836 Other comprehensive income (loss) before reclassifications 40,008 (21,340) 18,668 Amounts reclassified from AOCI to net income, net of tax (12,647) — (12,647) Net current period other comprehensive income (loss) 27,361 (21,340) 6,021 Ending balance, Maiden shareholders $ 49,357 $ (25,500) $ 23,857
Schedule of reclassification from accumulated other comprehensive income	The table below presents details about amounts reclassified from AOCI for the years ended December 31, 2021 and 2020: Consolidated Statements of Income Line Item that Includes Reclassification For the Year Ended December 31, 2021 2020 Net realized gains on investment $ 18,787 $ 15,115 Net impairment losses recognized in earnings — (2,468) Total before tax 18,787 12,647 Income tax expense — — Total after tax $ 18,787 $ 12,647

Long-Term Debt (Tables)

Long-Term Debt (Tables)	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Schedule of senior note issuances	The following tables detail the issuances outstanding at December 31, 2021 and 2020: December 31, 2021 2016 Senior Notes 2013 Senior Notes Total Principal amount $ 110,000 $ 152,500 $ 262,500 Less: unamortized issuance costs 3,463 3,690 7,153 Carrying value $ 106,537 $ 148,810 $ 255,347 December 31, 2020 2016 Senior Notes 2013 Senior Notes Total Principal amount $ 110,000 $ 152,500 $ 262,500 Less: unamortized issuance costs 3,516 3,858 7,374 Carrying value $ 106,484 $ 148,642 $ 255,126 Other details: Original debt issuance costs $ 3,715 $ 5,054 Maturity date June 14, 2046 December 1, 2043 Earliest redeemable date (for cash) June 14, 2021 December 1, 2018 Coupon rate 6.625 % 7.75 % Effective interest rate 7.07 % 8.04 %

Reinsurance (Tables)

Reinsurance (Tables)	12 Months Ended
	Dec. 31, 2021
Reinsurance Disclosures [Abstract]
Schedule of effects of reinsurance on premiums written and earned and liability for claims and claims adjustment expense	The effect of ceded reinsurance on net premiums written and earned and on net loss and LAE for the years ended December 31, 2021 and 2020 was as follows: For the Year Ended December 31, 2021 2020 Premiums written Direct $ 21,866 $ 19,550 Assumed (10,928) 11,839 Ceded (535) (2,957) Net $ 10,403 $ 28,432 Premiums earned Direct $ 22,857 $ 19,711 Assumed 31,497 89,461 Ceded (1,361) (3,091) Net $ 52,993 $ 106,081 Loss and LAE Gross loss and LAE $ 9,344 $ 57,146 Loss and LAE ceded (2,037) (15,347) Net $ 7,307 $ 41,799

Reserve for Loss and Loss Adj_2

Reserve for Loss and Loss Adjustment Expenses (Tables)	12 Months Ended
	Dec. 31, 2021
Insurance [Abstract]
Schedule of reserve for loss and LAE	The reserve for loss and LAE comprises: December 31, 2021 2020 Reserve for reported loss and LAE $ 851,950 $ 998,691 Reserve for losses incurred but not reported ("IBNR") 637,423 894,608 Reserve for loss and LAE $ 1,489,373 $ 1,893,299 The following table represents a reconciliation of the beginning and ending gross and net loss and LAE reserves: For the Year Ended December 31, 2021 2020 Gross loss and LAE reserves, January 1 $ 1,893,299 $ 2,439,907 Less: reinsurance recoverable on unpaid losses, January 1 592,571 623,422 Net loss and LAE reserves, January 1 1,300,728 1,816,485 Net incurred losses related to: Current year 34,912 58,332 Prior years (27,605) (16,533) 7,307 41,799 Net paid losses related to: Current year (10,026) (22,405) Prior years (389,231) (608,324) (399,257) (630,729) Retroactive ceded reinsurance 29,081 38,009 Retroactive assumed reinsurance 14,825 — Effect of foreign exchange rate movements (26,156) 35,164 Net loss and LAE reserves, December 31 926,528 1,300,728 Reinsurance recoverable on unpaid losses, December 31 562,845 592,571 Gross loss and LAE reserves, December 31 $ 1,489,373 $ 1,893,299 For the Year Ended Diversified Reinsurance AmTrust Reinsurance Total December 31, 2021 $ 3,561 $ 24,044 $ 27,605 December 31, 2020 1,295 15,238 16,533
Schedule of incurred losses and LAE and cumulative paid losses and LAE	The following tables represent information on the Company's incurred loss and LAE and cumulative paid loss and LAE, both net of reinsurance, since 2011 for our Diversified Reinsurance segment. The development tables below included reserves acquired from the loss portfolio transfer agreement associated with the GMAC International Insurance Services ("IIS") business as at November 30, 2010 of $98,827. For the purposes of disclosure, the reserves from the loss portfolio transfer was allocated to the original accident year. Many pro-rata contracts are big enough that specific company development patterns are used. The ELR from the pricing of the account is typically used for the first year or more until the data suggests an alternative result is likely. Use of the ELR method transitions to the BF and then the LD method. For smaller contracts, benchmark development patterns may be used in both the pricing to establish the ELR and the reserving. The use of benchmark patterns is more prevalent in excess of loss business and the movement to experience based methods is slower. Diversified Reinsurance - International The international business written by our IIS team is mainly proportional treaty business, a significant portion of which is Personal Auto quota share but also comprises credit life quota share. Life and personal accident business is also written on a direct basis by Maiden LF. The IIS team works with insurance partners, automobile manufacturers and their related credit providers and other organizations to design and implement insurance programs in both auto distribution-related and other consumer insurance products. For the auto quota share exposure, our initial underwriting year loss projections are generally based on the ELR method, derived from account pricing analyses. Payment and reporting patterns are predominantly short-tailed, and the movement away from the ELR to BF or LD methods typically happens very rapidly. Credit life reserves are primarily a function of reporting lag, typically only one or several months on average. The reserves are calculated using a FS methodology, where the frequency is a function of the average claims lag and the average per claims severity. Diversified Reinsurance - International Incurred loss and LAE, net of reinsurance At December 31, 2021 For the Year Ended December 31, 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Total IBNR Accident Year: Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2010 $ 79,244 $ 79,144 $ 78,894 $ 77,274 $ 79,349 $ 81,349 $ 81,042 82,083 $ 82,196 $ 82,515 $ 648 2011 48,414 48,453 48,637 48,594 48,424 48,803 49,049 49,007 48,967 48,968 96 2012 51,076 49,319 49,594 49,700 49,782 50,043 49,763 49,714 49,643 49,749 206 2013 45,495 50,639 51,958 51,460 52,060 52,281 52,670 52,599 52,705 (93) 2014 42,607 48,387 48,258 48,153 47,926 48,002 47,742 47,624 18 2015 42,814 44,230 44,724 44,161 44,177 44,017 43,683 (312) 2016 38,661 40,668 40,006 39,965 40,361 39,881 (338) 2017 36,791 36,244 35,170 34,050 34,058 77 2018 45,031 42,985 43,242 43,297 (844) 2019 36,470 37,563 36,659 53 2020 27,568 26,766 4,261 2021 6,611 1,016 Total $ 512,516 $ 4,788 Cumulative paid loss and LAE, net of reinsurance For the Year Ended December 31, 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Accident Year: Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2010 $ 43,379 $ 48,282 $ 50,016 $ 51,605 $ 53,121 $ 54,600 $ 56,295 $ 57,752 $ 58,857 $ 60,008 2011 45,469 47,091 48,329 48,748 48,980 49,121 49,234 49,300 49,385 49,456 2012 23,916 40,857 43,240 44,329 44,656 45,238 45,354 45,368 45,454 45,562 2013 24,575 43,883 46,367 47,711 48,179 48,392 48,472 48,794 48,445 2014 23,766 42,054 44,328 45,552 45,810 45,918 46,038 46,213 2015 21,787 39,379 41,436 42,479 42,900 43,183 43,402 2016 22,320 36,443 38,292 39,052 39,696 40,270 2017 19,098 33,554 35,322 36,158 36,597 2018 20,879 37,672 39,769 41,898 2019 17,295 31,204 33,899 2020 11,900 21,905 2021 3,635 Total 471,290 Total net reserves $ 41,226 Diversified Reinsurance - European Capital Solutions The European Capital Solutions business is mainly a portfolio of assumed reinsurance in Europe which is now in run-off. Maiden Reinsurance began writing treaty reinsurance contracts under this initiative in 2016 therefore only six calendar years of the Company's incurred and paid loss development by accident year have been provided in the tables below. Diversified Reinsurance - European Capital Solutions Incurred loss and LAE, net of reinsurance At December 31, 2021 For the Year Ended December 31, 2016 2017 2018 2019 2020 2021 Total IBNR Accident Year: Unaudited Unaudited Unaudited Unaudited Unaudited 2016 $ 4,899 $ 4,973 $ 5,390 $ 5,643 $ 5,981 $ 5,865 $ 182 2017 8,824 10,232 9,130 8,811 9,188 705 2018 23,891 25,772 26,420 26,232 2,979 2019 16,273 16,677 16,598 3,269 2020 232 208 43 Total $ 58,091 $ 7,178 Cumulative paid loss and LAE, net of reinsurance For the Year Ended December 31, 2016 2017 2018 2019 2020 2021 Accident Year: Unaudited Unaudited Unaudited Unaudited Unaudited 2016 $ 791 $ 2,340 $ 3,311 $ 4,699 $ 4,832 $ 5,017 2017 1,952 4,125 5,821 6,552 7,152 2018 3,231 5,944 12,587 18,134 2019 5,758 6,031 7,547 2020 92 90 Total 37,940 Total net reserves $ 20,151 The following tables represent information on the Company's incurred loss and LAE and cumulative paid loss and LAE, both net of reinsurance, by significant line of business since 2011 for our AmTrust Reinsurance segment. All data shown for the AmTrust Reinsurance segment in the tables that follow are from the Company’s quota share contracts with AmTrust, both the multi-year AmTrust Quota Share and the annually renewable European Hospital Liability Quota Share. AmTrust purchases significant reinsurance for losses above $10 million covered by the AmTrust Quota Share. The Company’s share of AmTrust’s losses net of reinsurance in the AmTrust Quota Share is generally 40%. Additionally, for the Specialty Program portion of Covered Business only, AmTrust will be responsible for ultimate net loss otherwise recoverable from Maiden Reinsurance to the extent that the loss ratio to Maiden Reinsurance, which shall be determined on an inception to date basis from July 1, 2007 through the date of calculation, is between 81.5% and 95%. Above and below the defined corridor, Maiden Reinsurance has reinsured losses at its proportional 40% share per the AmTrust Quota Share. Effective July 31, 2019, the Loss Corridor was amended such that the maximum amount covered is $40,500, the amount calculated by Maiden Reinsurance for the Loss Corridor coverage as of March 31, 2019. As of December 31, 2021, the projected amount subject to the Loss Corridor is $42,710 which exceeds the maximum amount covered. Any further development above this amount will be subject to the coverage of the LPT/ADC Agreement. Recoverables from the LPT/ADC Agreement are displayed in the column " Impact of LPT/ADC " in the tables below. Amounts have been allocated to Accident Year and line of business according to the timing of the respective losses, based on the currently projected payout patterns. These allocations may shift over time as actual payments are made and payout patterns are re–estimated. Please refer to "Note 8 — Reinsurance" for additional information regarding the LPT/ADC Agreement. 9. Reserve for Loss and Loss Adjustment Expenses (continued) AmTrust Reinsurance: Workers’ Compensation This reserve class consists of the Workers’ Compensation portion of the AmTrust Quota Share. The business is written in the U.S. by AmTrust from both their Small Commercial Business and Specialty Program business units. The Small Commercial Business unit focuses on writing smaller, niche workers' compensation exposures in generally low-hazard occupations. Workers’ Compensation business written in the Specialty Program unit is typically part of programs consisting of multiple lines of business. The business is produced by managing general agents with AmTrust regularly adding new programs and terminating or renegotiating unprofitable ones. Our initial underwriting year loss projections are generally based on the ELR method, derived from historical performance after the consideration of loss and premium trends. Since it is proportional exposure, and due to the size and the classes of business insured by AmTrust, this reserving class is much shorter tailed than a traditional workers compensation book, and the transition to the BF and the LD methods happens relatively quickly, within the first several years. 9. Reserve for Loss and Loss Adjustment Expenses (continued) Workers' Compensation Incurred loss and LAE, net of reinsurance (excluding impact of LPT/ADC Agreement) At December 31, 2021 For the Year Ended December 31, 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Total IBNR Impact of LPT/ADC Accident Year: Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2008 $ 81,493 $ 82,438 $ 81,240 $ 82,301 $ 83,039 $ 83,622 $ 84,710 $ 83,952 $ 86,117 $ 86,292 $ 2,297 $ 2,498 2009 102,245 103,864 109,213 106,204 105,901 107,165 110,175 109,664 109,021 110,207 2,478 3,675 2010 113,880 118,209 120,243 125,020 124,073 123,968 127,215 127,381 126,621 126,516 6,691 5,091 2011 125,549 130,712 132,728 133,995 133,916 135,379 138,600 139,685 141,272 137,355 2,476 7,041 2012 136,960 168,016 173,946 171,040 172,692 181,616 192,087 188,879 192,263 187,089 6,063 11,801 2013 237,019 245,765 238,392 242,447 261,915 276,249 273,571 281,580 277,365 11,159 17,716 2014 379,589 365,515 382,260 419,748 457,363 455,521 449,374 445,258 27,950 33,599 2015 474,140 474,212 526,269 551,145 545,271 549,857 547,439 37,772 47,662 2016 528,906 568,006 627,728 603,529 579,849 568,791 55,180 56,733 2017 615,957 654,362 613,577 593,920 591,122 44,485 84,351 2018 592,566 580,528 575,765 585,009 40,214 105,018 2019 12,751 9,945 10,871 841 — Total $ 3,673,314 $ 237,606 $ 375,185 Cumulative paid loss and LAE, net of reinsurance For the Year Ended December 31, 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Accident Year: Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2008 $ 72,823 $ 76,018 $ 77,370 $ 78,161 $ 79,230 $ 81,159 $ 82,436 $ 82,709 $ 82,286 $ 82,676 2009 83,464 89,462 93,425 96,396 98,811 100,103 101,823 102,877 103,771 104,205 2010 82,614 95,120 103,280 108,171 114,639 115,014 115,959 116,332 114,730 115,508 2011 69,357 91,414 105,584 114,107 115,966 122,579 124,315 125,843 129,408 130,413 2012 45,030 88,382 119,059 138,706 150,543 158,807 164,512 168,154 172,251 174,436 2013 56,249 121,182 168,785 199,300 216,527 227,502 234,342 248,103 252,506 2014 69,512 189,954 268,467 321,258 355,414 370,176 383,529 392,101 2015 86,695 246,616 338,642 388,640 417,736 448,867 466,868 2016 110,051 284,501 380,602 428,651 449,347 471,382 2017 111,508 274,596 448,551 485,611 507,903 2018 110,954 409,986 465,762 499,349 2019 3,907 5,821 8,070 Total 3,205,417 All outstanding liabilities prior to 2008, net of reinsurance 271 Total net reserves excluding impact of ADC 468,168 Impact of ADC (375,185) Total net reserves including impact of ADC $ 92,983 AmTrust Reinsurance: General Liability This reserve class consists of the General Liability portion of the AmTrust Quota Share. The business is written in the U.S. by AmTrust from both their Small Commercial Business and Specialty Program business units. The Small Commercial Business unit focuses on writing smaller niche business, typically under-served by the broader insurance market, which typically have limits of $1,000. General Liability business written in the Small Commercial Business unit grew substantially following AmTrust’s renewal rights acquisition in 2014. Specialty Program business may contain a mix of exposures from retail operations, contractors, manufacturers, and other premises. Our initial underwriting year loss projections are generally based on the ELR method, derived from historical performance after the consideration of loss and premium trends. This proportional exposure is medium tailed, and the IBNR is typically derived from the use of the initial ELR, or the FS method as claim counts emerge, for the first several years following the earning of the exposure, followed by a transition to the BF and the LD methods. General Liability Incurred loss and LAE, net of reinsurance (excluding impact of LPT/ADC Agreement) At December 31, 2021 For the Year Ended December 31, 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Total IBNR Impact of LPT/ADC Accident Year: Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2008 $ 31,921 $ 33,051 $ 33,792 $ 34,169 $ 35,985 $ 36,627 $ 37,605 $ 36,996 $ 40,398 $ 40,381 $ 3,327 $ 161 2009 28,384 29,123 30,902 32,418 34,040 34,863 35,138 35,410 36,228 35,733 689 171 2010 28,850 34,761 36,455 38,536 38,298 41,597 42,884 43,062 45,490 44,778 669 443 2011 24,731 35,628 40,557 42,100 45,303 49,338 52,746 53,499 55,607 54,683 695 695 2012 21,281 33,445 42,450 48,851 50,800 55,991 59,948 63,429 63,704 64,052 4,471 1,302 2013 42,021 43,116 66,869 68,641 79,731 89,204 92,032 95,050 96,342 3,689 2,534 2014 65,469 66,558 77,930 99,873 111,970 116,085 119,367 119,782 10,123 5,734 2015 118,111 95,766 122,942 139,518 154,071 154,529 154,939 13,452 10,590 2016 98,149 114,864 120,911 148,371 147,858 147,996 19,131 14,049 2017 116,158 133,533 165,268 161,354 162,856 29,103 18,410 2018 121,991 153,822 148,817 148,295 39,473 21,760 2019 5,427 6,017 5,981 4,360 — Total $ 1,075,818 $ 129,182 $ 75,849 Cumulative paid loss and LAE, net of reinsurance For the Year Ended December 31, 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Accident Year: Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2008 $ 26,288 $ 29,384 $ 32,849 $ 32,423 $ 32,765 $ 34,935 $ 36,699 $ 34,893 $ 37,253 $ 37,278 2009 13,904 19,727 24,298 28,312 30,924 32,878 33,473 32,487 34,984 34,999 2010 11,187 19,010 26,429 30,948 34,125 37,317 39,214 39,888 42,509 43,076 2011 6,072 12,158 22,963 31,619 39,350 41,257 47,141 49,178 51,492 52,592 2012 5,084 13,224 18,020 29,752 40,864 45,775 53,526 56,538 55,350 57,913 2013 4,996 10,226 32,249 44,698 58,377 70,074 76,996 83,571 87,178 2014 3,503 24,581 36,026 57,678 77,259 86,101 92,861 96,521 2015 20,849 33,963 52,350 79,291 98,278 112,542 120,546 2016 6,402 21,959 45,855 67,064 88,627 101,764 2017 6,967 27,001 51,545 79,531 97,356 2018 7,907 24,618 42,792 65,947 2019 27 314 717 Total 795,887 All outstanding liabilities prior to 2008, net of reinsurance 8 Total net reserves excluding impact of ADC 279,939 Impact of ADC (75,849) Total net reserves including impact of ADC $ 204,090 AmTrust Reinsurance: Commercial Auto Liability Commercial Auto Liability is written in the U.S. and included in the Small Commercial Business and Specialty Program business units within the AmTrust Quota Share. The Small Commercial Business unit focuses on writing smaller niche business, typically under-served by the broader insurance market, and policies typically have limits of $1,000. Auto Liability business written in the Small Commercial Business unit grew substantially following a large renewal rights acquisition completed by AmTrust in 2014. Commercial Auto Liability business written in the Specialty Program unit is typically part of programs consisting of multiple lines of business. Our initial underwriting year loss projections are generally based on the ELR method, derived from historical performance after the consideration of loss and premium trends. This proportional exposure is relatively short tailed, and the transition to the BF and the LD methods happens relatively quickly, within the first several years. Commercial Auto Liability Incurred loss and LAE, net of reinsurance (excluding impact of LPT/ADC Agreement) At December 31, 2021 For the Year Ended December 31, 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Total IBNR Impact of LPT/ADC Accident Year: Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2008 $ 32,769 $ 33,700 $ 34,522 $ 34,584 $ 35,975 $ 35,521 $ 35,382 $ 35,542 $ 37,746 $ 37,854 $ 2,052 $ 60 2009 26,275 28,551 30,812 31,024 30,468 30,919 31,033 31,064 31,082 31,019 437 47 2010 33,457 37,154 38,043 40,193 40,523 42,146 41,996 42,070 40,637 40,631 218 29 2011 24,292 29,577 32,578 33,839 34,790 36,149 36,065 34,643 34,707 34,690 481 1 2012 20,863 32,691 40,076 44,812 48,116 46,150 45,753 45,917 45,902 45,753 (59) — 2013 33,473 44,771 50,647 59,702 63,162 62,163 63,620 63,532 63,589 388 41 2014 47,525 55,023 73,966 82,427 89,299 92,572 94,238 93,208 1,098 289 2015 66,967 92,955 106,560 119,141 127,560 129,849 129,082 1,607 1,190 2016 121,828 118,210 144,077 171,504 170,275 167,479 2,849 2,291 2017 156,575 189,257 220,457 230,972 220,471 14,751 3,538 2018 177,150 224,780 230,200 219,800 30,511 6,870 2019 79,172 77,371 73,023 22,415 — 2020 — (7) — Total $ 1,156,599 $ 76,741 $ 14,356 Cumulative paid loss and LAE, net of reinsurance For the Year Ended December 31, 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Accident Year: Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2008 $ 29,386 $ 30,975 $ 32,643 $ 33,536 $ 34,074 $ 34,803 $ 35,284 $ 36,968 $ 34,982 $ 35,013 2009 18,736 22,959 26,975 29,226 29,829 29,842 30,204 31,194 30,337 30,340 2010 21,050 28,602 34,855 37,734 39,413 39,750 40,282 40,395 40,407 40,411 2011 12,333 18,813 25,808 29,769 32,362 33,130 33,155 33,451 33,872 34,005 2012 6,693 14,979 26,508 35,460 43,745 44,165 45,555 45,751 45,819 45,812 2013 8,267 19,865 34,379 48,122 57,349 59,600 62,331 62,562 62,968 2014 8,450 22,858 42,960 64,459 79,766 87,458 90,761 91,000 2015 13,102 39,179 62,945 86,433 107,707 118,753 121,605 2016 19,071 48,595 76,635 113,174 133,826 145,727 2017 26,863 69,657 115,623 154,600 176,863 2018 30,018 67,080 107,184 138,770 2019 9,456 22,799 34,365 2020 7 7 Total 956,886 All outstanding liabilities prior to 2008, net of reinsurance 57 Total net reserves excluding impact of ADC 199,770 Impact of ADC (14,356) Total net reserves including impact of ADC $ 185,414 AmTrust Reinsurance: European Hospital Liability AmTrust entered this line of business in Italy in 2010 when it believed there were significant opportunities in what had traditionally been an under-performing market. European Hospital Liability policies are written on a claim made basis. Maiden wrote a separate annually renewable contract covering this exposure in 2011 which is not part of the AmTrust Quota Share. Currently, most exposure remains in Italy with a modest amount of exposure to other European nations. The European Hospital Liability Quota Share is a claims made exposure, and in many instances claims are eventually closed with no liability. This phenomena is estimated during the reserving process, and can result in a provision for pure IBNR (reserves for claims which have not yet been reported) which is minimal or negative. This estimate will vary as the exposure matures which could result in changes to the level of reserves. Also, severity for known claims and expenses can increase over time, which requires a provision for IBNR. The net result is a relatively small amount of IBNR. Our initial underwriting year loss projections are generally based on the ELR method, derived from historical performance after the consideration of loss and premium trends. Loss reporting for this line is unique, as a large proportion of claims are initially reserved but eventually closed with no payment, as the insurer is found to have no liability after investigation of the fundamentals of the claim. In addition, the underlying insurance policies assumed are subject to deductibles on both a per claim and aggregate basis. For these reasons, the LD method is not typically employed to estimate aggregate losses, although development methodologies are used individually in estimating losses gross of per claim and policy deductibles and the impacts of each type of deductible. European Hospital Liability Incurred loss and LAE, net of reinsurance At December 31, 2021 For the Year Ended December 31, 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Total IBNR Accident Year: Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2011 $ 23,340 $ 36,130 $ 49,918 $ 47,483 $ 65,382 $ 63,398 $ 60,789 $ 63,077 $ 63,362 $ 64,135 $ (2,958) 2012 80,228 81,767 80,974 103,830 92,881 87,946 113,658 118,559 119,502 120,978 2,673 2013 49,292 61,927 64,600 84,867 77,599 99,463 105,355 106,763 108,415 4,327 2014 51,283 54,001 57,842 64,360 81,154 86,454 87,509 88,875 6,729 2015 47,811 46,419 60,438 66,451 69,622 69,862 72,202 6,349 2016 44,764 51,533 67,448 69,999 68,467 69,830 8,557 2017 41,210 52,506 54,648 53,189 51,176 6,566 2018 44,861 31,818 32,759 32,112 796 2019 15,984 14,796 15,777 4,383 Total $ 623,500 $ 37,422 Cumulative paid loss and LAE, net of reinsurance For the Year Ended December 31, 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Accident Year: Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2011 $ 4,370 $ 12,895 $ 23,663 $ 28,946 $ 35,966 $ 41,611 $ 45,829 $ 49,634 $ 54,217 $ 57,204 2012 4,836 15,461 35,187 45,830 58,922 69,477 77,552 83,713 93,821 98,918 2013 3,005 15,114 26,004 39,676 49,876 55,895 63,189 76,488 82,089 2014 4,229 11,913 24,762 35,244 39,547 46,649 58,632 61,616 2015 3,492 11,106 22,928 29,262 35,141 46,094 45,598 2016 3,604 10,705 17,737 23,593 35,019 37,642 2017 1,286 4,441 7,612 14,774 20,363 2018 926 2,280 5,432 7,816 2019 11,531 1,611 3,043 Total 414,289 Total net reserves $ 209,211 AmTrust Reinsurance - All Other Lines: This category includes all lines except Workers' Compensation, General Liability, and Commercial Auto from the Small Commercial Business and Specialty Program Divisions. The predominant exposures are property and auto physical damage. All Other Lines Incurred loss and LAE, net of reinsurance (excluding impact of LPT/ADC Agreement) At December 31, 2021 For the Year Ended December 31, 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Total IBNR Impact of LPT/ADC Accident Year: Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2008 $ 28,724 $ 28,715 $ 29,149 $ 29,237 $ 29,070 $ 29,576 $ 29,574 $ 29,519 $ 24,045 $ 24,016 $ (4,928) $ — 2009 20,349 11,959 13,329 14,309 14,492 16,088 15,653 14,617 15,750 15,373 373 — 2010 15,182 24,718 15,484 16,078 16,105 17,071 17,059 15,438 15,905 15,905 52 — 2011 19,948 26,343 27,509 22,359 22,616 23,376 23,506 21,469 21,515 21,500 151 — 2012 14,697 18,443 19,426 21,898 18,673 19,850 20,260 19,578 17,969 17,811 (275) 152 2013 17,806 17,630 28,058 22,918 21,313 21,669 21,735 20,644 20,639 1,174 247 2014 20,597 25,268 26,021 24,958 26,278 24,929 21,496 21,491 (2) 122 2015 52,706 54,857 49,631 49,463 47,882 44,939 44,749 678 50 2016 79,654 74,948 72,384 73,602 67,060 66,944 6,631 111 2017 104,637 96,812 92,904 96,196 96,104 1,636 247 2018 96,910 103,489 101,553 101,913 (1,607) 491 2019 37,945 43,146 43,554 2,560 — 2020 — (103) — Total $ 489,999 $ 6,340 $ 1,420 Cumulative paid loss and LAE, net of reinsurance For the Year Ended December 31, 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Accident Year: Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2008 $ 29,710 $ 29,900 $ 31,217 $ 29,388 $ 29,177 $ 30,833 $ 30,683 $ 29,234 $ 24,706 $ 28,850 2009 8,084 8,743 11,093 13,105 13,870 15,224 15,051 14,009 14,954 14,986 2010 12,332 13,012 15,375 15,748 16,058 16,919 16,786 15,285 15,853 15,854 2011 16,424 17,571 21,279 22,044 22,715 23,892 23,661 21,481 21,343 21,339 2012 10,308 14,031 16,033 16,936 17,946 18,205 18,685 17,559 18,071 18,077 2013 11,877 15,997 17,509 20,258 20,456 20,447 19,343 20,146 19,465 2014 12,028 20,277 20,940 22,018 26,194 21,405 21,497 21,493 2015 28,929 45,208 42,631 41,962 44,179 43,622 43,895 2016 42,795 69,805 65,452 63,234 63,450 60,008 2017 48,903 80,726 80,735 93,212 93,541 2018 56,539 86,455 98,386 101,158 2019 22,095 38,793 40,427 2020 4 103 2021 66 Total 479,262 All outstanding liabilities prior to 2008, net of reinsurance (2) Total net reserves excluding impact of ADC 10,735 Impact of ADC (1,420) Total net reserves including impact of ADC $ 9,315
Schedule of reconciliation of claims development to liability	The following table represents a reconciliation of the net incurred and paid claims development tables to the reserve for loss and LAE in the Consolidated Balance Sheet at December 31, 2021: December 31, 2021 Total Net Reserves (including impact of ADC) Reinsurance Recoverables on unpaid claims Total Gross Reserves Diversified Reinsurance International $ 41,226 $ 2,979 $ 44,205 European Capital Solutions 20,151 — 20,151 Other reconciling items 17,742 — 17,742 Total Diversified Reinsurance - Segment 79,119 2,979 82,098 AmTrust Reinsurance Workers' Compensation 92,983 375,185 468,168 General Liability 204,090 75,849 279,939 Commercial Auto Liability 185,414 14,356 199,770 European Hospital Liability 209,211 — 209,211 All Other Lines 9,315 1,420 10,735 Total 701,013 466,810 1,167,823 Other reconciling items 146,396 24,050 170,446 Total AmTrust Reinsurance - Segment 847,409 490,860 1,338,269 Other — 69,006 69,006 Total reserves for loss and LAE $ 926,528 $ 562,845 $ 1,489,373
Schedule of average annual payout of net loss and LAE	The following unaudited supplementary information represents the average annual percentage payout of net loss and LAE by age, net of reinsurance, for both our reportable segments at December 31, 2021: Average annual payout of incurred claims by age, net of reinsurance Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Diversified Reinsurance International 49.7 % 38.2 % 5.3 % 2.8 % 0.8 % (0.6) % (0.5) % (0.5) % (0.7) % 1.6 % European Capital Solutions 5.4 % 15.1 % 15.6 % 20.6 % 8.2 % 8.7 % — % — % — % — % AmTrust Reinsurance Workers' Compensation 18.7 % 31.7 % 17.9 % 8.6 % 5.2 % 4.1 % 3.2 % 2.6 % 1.7 % 1.8 % General Liability 6.1 % 10.8 % 13.6 % 16.4 % 13.9 % 9.5 % 6.4 % 5.7 % 2.1 % 4.1 % Commercial Auto Liability 12.2 % 18.1 % 19.3 % 18.7 % 13.4 % 6.7 % 3.0 % 0.3 % 0.5 % 0.5 % European Hospital Liability 3.6 % 7.9 % 11.7 % 11.6 % 11.3 % 9.7 % 7.4 % 6.9 % 6.8 % 6.3 % All other lines 56.9 % 32.3 % 2.8 % 5.3 % 3.1 % (4.1) % 0.7 % (0.7) % (3.9) % (0.3) %

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2021
Related Party Transactions [Abstract]
Schedule of quota share arrangements with AmTrust	The table below shows the effect of both of these quota share arrangements with AmTrust on the Company's Consolidated Income Statements for the years ended December 31, 2021 and 2020, respectively: For the Year Ended December 31, 2021 2020 Gross and net premiums written $ (5,695) $ (9,068) Net premiums earned 25,312 57,992 Net loss and loss adjustment expenses (3,438) (17,031) Commission and other acquisition expenses (9,747) (20,321)

Earnings per Common Share (Tabl

Earnings per Common Share (Tables)	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Summary of elements used in calculating basic and diluted earnings (loss) per common share	The following is a summary of the elements used in calculating basic and diluted earnings per common share: For the Year Ended December 31, 2021 2020 Numerator: Net income $ 26,645 $ 41,762 Gain from repurchase of preference shares – Series A, C and D 90,998 38,195 Amount allocated to participating common shareholders (1) (1,021) (1,386) Net income allocated to Maiden common shareholders $ 116,622 $ 78,571 Denominator: Weighted average number of common shares – basic 86,068,278 84,333,514 Potentially dilutive securities: Share options and restricted share units (2) 4,389 141 Adjusted weighted average common shares – diluted 86,072,667 84,333,655 Basic and diluted earnings per share attributable to Maiden common shareholders $ 1.35 $ 0.93 (1) This represents the share in net income using the two-class method for holders of non-vested restricted shares issued to the Company's employees under the 2019 Omnibus Incentive Plan. (2) Please refer to "Note 6 — Shareholders' Equity" and "Note 14 — Share Compensation and Pension Plans" in the Notes to Consolidated Financial Statements for the terms and conditions of securities that could potentially be dilutive in the future. For the year ended December 31, 2021, there were 4,389 potentially dilutive securities.

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Schedule of (loss) income before taxes and income tax expense	Income before taxes and income tax benefit for the years ended December 31, 2021 and 2020 are as follows: For the Year Ended December 31, 2021 2020 Loss before income taxes – Domestic (Bermuda) $ (23,345) $ (9,648) Income before income taxes – Foreign (U.S. and others) 50,005 51,306 Total income before income taxes $ 26,660 $ 41,658 Current tax expense – Domestic (Bermuda) $ — $ — Current tax expense – Foreign (U.S. and others) 244 155 Total current tax expense $ 244 $ 155 Deferred tax expense – Domestic (Bermuda) $ — $ — Deferred tax benefit – Foreign (U.S. and others) (229) (259) Total deferred tax benefit $ (229) $ (259) Total income tax expense (benefit) $ 15 $ (104)
Schedule of effective income tax rate reconciliation	The following table is a reconciliation of the actual income tax rate for the years ended December 31, 2021 and 2020 to the amount computed by applying the effective tax rate of 0.0% under Bermuda law to the Company's income before income taxes: For the Year Ended December 31, 2021 2020 Income before income taxes $ 26,660 $ 41,658 Less: income tax expense (benefit) 15 (104) Net income $ 26,645 $ 41,762 Reconciliation of effective tax rate (% of income before income taxes) Bermuda tax rate — % — % U.S. taxes at statutory rates 24.3 % 19.2 % Re-domestication of Maiden Reinsurance to the U.S. — % (117.3) % Valuation allowance in respect of U.S. taxes (22.3) % 98.1 % Other jurisdictions (1.9) % (0.3) % Actual tax rate 0.1 % (0.3) %
Schedule of deferred tax assets and liabilities	The significant components of the Company's deferred tax assets and liabilities at December 31, 2021 and 2020 were as follows: December 31, 2021 2020 Deferred tax assets: Net operating losses $ 48,346 $ 44,259 Unearned premiums 4,202 6,017 Capital loss carry-forward 2,831 4,234 Net unrealized losses on investments 2,236 — Discounting of net loss and LAE reserves 30,423 37,568 Interest limitation 11 — Deferred gain on retroactive reinsurance 10,282 23,719 Others 840 776 Deferred tax assets before valuation allowance 99,171 116,573 Valuation allowance 90,077 96,414 Deferred tax assets, net 9,094 20,159 Deferred tax liabilities: Deferred commission and other acquisition expenses 8,201 11,327 Net unrealized gains on investment — 8,197 Others 53 3 Deferred tax liabilities 8,254 19,527 Net deferred tax asset $ 840 $ 632

Share Compensation and Pensio_2

Share Compensation and Pension Plans (Tables)	12 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement, Noncash Expense [Abstract]
Schedule of all options granted, exercised, expired and forfeited under the Plan	This table shows all share option activity under the 2019 Omnibus Plan for the years ended December 31, 2021 and 2020: Number of Weighted Weighted Aggregate Range of Option Exercise Prices (Low to High) Outstanding, December 31, 2019 484,129 $ 8.44 3.63 years $ — $1.31 $13.98 Expired (213,379) 7.50 Forfeited (6,250) 7.20 Outstanding, December 31, 2020 264,500 9.22 4.72 years — 1.31 13.98 Expired (49,500) 10.57 Outstanding, December 31, 2021 215,000 8.91 4.28 years 13.00 1.31 13.98 Total exercisable at December 31, 2021 211,250 9.05 4.23 years 7.00 1.31 13.98
Schedule of based compensation instrument granted, other than share options	The following table shows the summary of activity for the Company's restricted share awards: Non-Performance-Based Restricted Shares Discretionary Performance-Based Restricted Shares Number of Weighted Average Grant-Date Fair Value Number of Weighted Average Grant-Date Fair Value Non-vested at December 31, 2019 1,818,797 $ 1.24 — $ — Awards granted 333,330 1.20 982,974 1.02 Awards vested (908,857) 1.25 (744,680) 0.94 Awards forfeited — — — — Non-vested at December 31, 2020 1,243,270 1.22 238,294 1.26 Awards granted 238,750 3.44 1,322,410 2.74 Awards vested (1,178,522) 1.22 (1,322,410) 2.74 Awards forfeited (54,166) 1.20 (200) 1.26 Non-vested at December 31, 2021 249,332 3.35 238,094 1.26

Statutory Requirements and Di_2

Statutory Requirements and Dividend Restrictions (Tables)	12 Months Ended
	Dec. 31, 2021
Statutory Financial Information [Abstract]
Statutory capital and surplus and statutory net (loss) income of principal operating subsidiaries	The statutory capital and surplus and statutory net (loss) income of our principal operating subsidiaries in their respective jurisdictions were as follows: Maiden Reinsurance Maiden LF Maiden GF Statutory Capital and Surplus December 31, 2021 $ 999,843 $ 8,250 $ 9,972 December 31, 2020 (a) 972,350 9,944 10,663 Statutory Net Income (Loss) For the Year Ended December 31, 2021 $ 36,309 $ (899) $ (1,018) For the Year Ended December 31, 2020 (a) 52,707 (1,164) 32

Organization (Details)

Organization (Details) - USD ($) $ in Thousands	Mar. 16, 2020	Dec. 31, 2021
Subsidiary or Equity Method Investee [Line Items]
Insurance related liabilities		$ 17,925
Maiden Reinsurance North America, Inc.
Subsidiary or Equity Method Investee [Line Items]
Ownership capital contributed	65.00%
Maiden Reinsurance North America, Inc. | Maiden Holdings North America, Ltd.
Subsidiary or Equity Method Investee [Line Items]
Ownership percentage	100.00%

Significant Accounting Polici_3

Significant Accounting Policies (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Short-term investments	$ 0	$ 0
Deposit contracts	$ 0	0
Operating lease, weighted average discount rate	10.00%
Gain on repurchase of preference shares, impact on common stock (in dollars per share)	$ 1.06
Cumulative translation adjustment	$ 384,257,000	527,816,000
Foreign currency translation adjustments
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Cumulative translation adjustment	$ (9,522,000)	$ (25,500,000)	$ (4,160,000)

Segment Information - Underwrit

Segment Information - Underwriting Results and Reconciliation from Reportable Segments and Other's Category Net Income (Loss) to Consolidated (Details)	12 Months Ended
	Dec. 31, 2021USD ($)segment	Dec. 31, 2020USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | segment	2
Income Statement [Abstract]
Gross premiums written	$ 10,938,000	$ 31,389,000
Net premiums written	10,403,000	28,432,000
Net premiums earned	52,993,000	106,081,000
Other insurance revenue	1,067,000	1,276,000
Net loss and LAE	(7,307,000)	(41,799,000)
Commission and other acquisition expenses	(24,840,000)	(38,796,000)
General and administrative expenses	(10,341,000)	(9,488,000)
Underwriting income	11,572,000	17,274,000
Reconciliation to net income
Net investment income and net realized and unrealized gains on investment	44,661,000	79,234,000
Total other-than-temporary impairment losses	0	(2,468,000)
Interest and amortization expenses	(19,327,000)	(19,324,000)
Foreign exchange and other gain (losses), net	7,685,000	(8,526,000)
Other general and administrative expenses	(25,679,000)	(29,630,000)
Income tax expense (benefit)	(15,000)	104,000
Interest in income in equity method investments	7,748,000	5,098,000
Net income	$ 26,645,000	$ 41,762,000
Net loss and LAE ratio	13.50%	38.90%
Commission and other acquisition expense ratio	46.00%	36.10%
General and administrative expense ratio	66.60%	36.40%
Expense ratio	112.60%	72.50%
Combined ratio	126.10%	111.40%
Operating Segments | Diversified Reinsurance
Income Statement [Abstract]
Gross premiums written	$ 16,633,000	$ 40,457,000
Net premiums written	16,098,000	37,258,000
Net premiums earned	27,681,000	47,847,000
Other insurance revenue	1,067,000	1,276,000
Net loss and LAE	(4,286,000)	(24,909,000)
Commission and other acquisition expenses	(15,093,000)	(18,475,000)
General and administrative expenses	(7,827,000)	(6,936,000)
Underwriting income	$ 1,542,000	$ (1,197,000)
Reconciliation to net income
Net loss and LAE ratio	14.90%	50.70%
Commission and other acquisition expense ratio	52.50%	37.60%
General and administrative expense ratio	27.20%	14.10%
Expense ratio	79.70%	51.70%
Combined ratio	94.60%	102.40%
Operating Segments | AmTrust Reinsurance
Income Statement [Abstract]
Gross premiums written	$ (5,695,000)	$ (9,068,000)
Net premiums written	(5,695,000)	(8,826,000)
Net premiums earned	25,312,000	58,234,000
Other insurance revenue	0	0
Net loss and LAE	(3,021,000)	(16,890,000)
Commission and other acquisition expenses	(9,747,000)	(20,321,000)
General and administrative expenses	(2,514,000)	(2,552,000)
Underwriting income	$ 10,030,000	$ 18,471,000
Reconciliation to net income
Net loss and LAE ratio	11.90%	29.00%
Commission and other acquisition expense ratio	38.50%	34.90%
General and administrative expense ratio	9.90%	4.40%
Expense ratio	48.40%	39.30%
Combined ratio	60.30%	68.30%

Segment Information - Reconcili

Segment Information - Reconciliation of Assets from Segment to Consolidated (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Jul. 31, 2019
Segment Reporting, Asset Reconciling Item [Line Items]
Reinsurance balances receivable, net	$ 19,507	$ 5,777
Reinsurance recoverable on unpaid losses	562,845	592,571
Deferred commission and other acquisition expenses	36,703	51,903
Loan to related party	167,975	167,975
Restricted cash and cash equivalents and investments	582,147	1,080,055
Funds withheld receivable	636,412	654,805
Other assets	4,774	8,051
Total assets	2,322,610	2,948,455
Diversified Reinsurance
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	126,116	156,380
AmTrust Reinsurance
Segment Reporting, Asset Reconciling Item [Line Items]
Reinsurance recoverable on unpaid losses			$ 445,000
Total assets	1,810,940	2,329,377
Operating Segments
Segment Reporting, Asset Reconciling Item [Line Items]
Reinsurance balances receivable, net	19,398	5,560
Reinsurance recoverable on unpaid losses	493,839	524,599
Deferred commission and other acquisition expenses	36,703	51,903
Loan to related party	167,975	167,975
Restricted cash and cash equivalents and investments	582,147	1,080,055
Funds withheld receivable	636,412	654,805
Other assets	582	860
Total assets	1,937,056	2,485,757
Operating Segments | Diversified Reinsurance
Segment Reporting, Asset Reconciling Item [Line Items]
Reinsurance balances receivable, net	1,927	5,560
Reinsurance recoverable on unpaid losses	2,979	4,658
Deferred commission and other acquisition expenses	2,533	6,171
Loan to related party	0	0
Restricted cash and cash equivalents and investments	83,143	87,419
Funds withheld receivable	34,952	51,712
Other assets	582	860
Total assets	126,116	156,380
Operating Segments | AmTrust Reinsurance
Segment Reporting, Asset Reconciling Item [Line Items]
Reinsurance balances receivable, net	17,471	0
Reinsurance recoverable on unpaid losses	490,860	519,941
Deferred commission and other acquisition expenses	34,170	45,732
Loan to related party	167,975	167,975
Restricted cash and cash equivalents and investments	499,004	992,636
Funds withheld receivable	601,460	603,093
Other assets	0	0
Total assets	1,810,940	2,329,377
Corporate, Non-Segment
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	385,554	462,698
Corporate, Non-Segment | Diversified Reinsurance
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	0	0
Corporate, Non-Segment | AmTrust Reinsurance
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 0	$ 0

Segment Information - Net Premi

Segment Information - Net Premiums (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting, Revenue Reconciling Item [Line Items]
Gross premiums written	$ 10,938	$ 31,389
Net premiums written	10,403	28,432
Net premiums earned	$ 52,993	$ 106,081
% of Total Net premiums written	100.00%	100.00%
% of Total Net premiums earned	100.00%	100.00%
Operating Segments | Diversified Reinsurance
Segment Reporting, Revenue Reconciling Item [Line Items]
Gross premiums written	$ 16,633	$ 40,457
Net premiums written	16,098	37,258
Net premiums earned	$ 27,681	$ 47,847
% of Total Net premiums written	154.70%	131.10%
% of Total Net premiums earned	52.20%	45.10%
Operating Segments | AmTrust Reinsurance
Segment Reporting, Revenue Reconciling Item [Line Items]
Gross premiums written	$ (5,695)	$ (9,068)
Net premiums written	(5,695)	(8,826)
Net premiums earned	$ 25,312	$ 58,234
% of Total Net premiums written	(54.70%)	(31.10%)
% of Total Net premiums earned	47.80%	54.90%
Operating Segments | International | Diversified Reinsurance
Segment Reporting, Revenue Reconciling Item [Line Items]
Net premiums written	$ 16,098	$ 37,294
Net premiums earned	$ 27,681	$ 47,883
% of Total Net premiums written	154.70%	131.20%
% of Total Net premiums earned	52.20%	45.10%
Operating Segments | Other | Diversified Reinsurance
Segment Reporting, Revenue Reconciling Item [Line Items]
Net premiums written	$ 0	$ (36)
Net premiums earned	$ 0	$ (36)
% of Total Net premiums written	0.00%	(0.10%)
% of Total Net premiums earned	0.00%	0.00%
Operating Segments | Small Commercial Business | AmTrust Reinsurance
Segment Reporting, Revenue Reconciling Item [Line Items]
Net premiums written	$ (6,445)	$ (11,515)
Net premiums earned	$ (6,095)	$ (10,938)
% of Total Net premiums written	(61.90%)	(40.50%)
% of Total Net premiums earned	(11.50%)	(10.30%)
Operating Segments | Specialty Program | AmTrust Reinsurance
Segment Reporting, Revenue Reconciling Item [Line Items]
Net premiums written	$ (876)	$ (19)
Net premiums earned	$ (853)	$ 33
% of Total Net premiums written	(8.40%)	(0.10%)
% of Total Net premiums earned	(1.60%)	0.00%
Operating Segments | Specialty Risk and Extended Warranty | AmTrust Reinsurance
Segment Reporting, Revenue Reconciling Item [Line Items]
Net premiums written	$ 1,626	$ 2,708
Net premiums earned	$ 32,260	$ 69,139
% of Total Net premiums written	15.60%	9.50%
% of Total Net premiums earned	60.90%	65.20%
North America
Segment Reporting, Revenue Reconciling Item [Line Items]
Gross premiums written	$ (7,649)	$ (10,979)
Net premiums written	(7,320)	(10,836)
Net premiums earned	(6,948)	(10,207)
Other (predominantly Europe)
Segment Reporting, Revenue Reconciling Item [Line Items]
Gross premiums written	18,587	42,368
Net premiums written	17,723	39,268
Net premiums earned	$ 59,941	$ 116,288

Investments - Amortized Cost, G

Investments - Amortized Cost, Gross Unrealized Gains and Losses and Fair Value on Fixed Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Schedule of Investments [Line Items]
Original or amortized cost	$ 595,344	$ 1,163,923
Gross unrealized gains	13,341	53,055
Gross unrealized losses	(11,540)	(3,567)
Fair value	597,145	1,213,411
U.S. treasury bonds
Schedule of Investments [Line Items]
Original or amortized cost	59,989	94,468
Gross unrealized gains	0	34
Gross unrealized losses	(110)	0
Fair value	59,879	94,502
U.S. agency bonds – mortgage-backed
Schedule of Investments [Line Items]
Original or amortized cost	96,554	272,124
Gross unrealized gains	2,429	9,439
Gross unrealized losses	(193)	(126)
Fair value	98,790	281,437
Non-U.S. government bonds
Schedule of Investments [Line Items]
Original or amortized cost	3,163	8,641
Gross unrealized gains	113	1,067
Gross unrealized losses	0	0
Fair value	3,276	9,708
Asset-backed Securities
Schedule of Investments [Line Items]
Original or amortized cost	198,946	184,227
Gross unrealized gains	705	1,611
Gross unrealized losses	(5,093)	(406)
Fair value	194,558	185,432
Corporate bonds
Schedule of Investments [Line Items]
Original or amortized cost	236,692	604,463
Gross unrealized gains	10,094	40,904
Gross unrealized losses	(6,144)	(3,035)
Fair value	$ 240,642	$ 642,332

Investments - Contractual Matur

Investments - Contractual Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Amortized cost
Due in one year or less	$ 66,193
Due after one year through five years	202,405
Due after five years through ten years	30,634
Due after ten years	612
Total securities with single maturities, amortized cost	299,844
Original or amortized cost	595,344	$ 1,163,923
Fair value
Due in one year or less	65,742
Due after one year through five years	206,028
Due after five years through ten years	31,476
Due after ten years	551
Total before securities with single maturities, fair value	303,797
Fixed maturities, fair value	597,145	1,213,411
U.S. agency bonds – mortgage-backed
Amortized cost
Amortized cost of securities without single maturities	96,554
Original or amortized cost	96,554	272,124
Fair value
Fair value of securities without single maturities	98,790
Fixed maturities, fair value	98,790	281,437
Asset-backed Securities
Amortized cost
Amortized cost of securities without single maturities	198,946
Original or amortized cost	198,946	184,227
Fair value
Fair value of securities without single maturities	194,558
Fixed maturities, fair value	$ 194,558	$ 185,432

Investments - Fair Value and Un

Investments - Fair Value and Unrealized Losses (Details) $ in Thousands	Dec. 31, 2021USD ($)security	Dec. 31, 2020USD ($)security
Fair value
Less than 12 Months	$ 219,979	$ 64,570
12 Months or More	32,916	101,994
Total	252,895	166,564
Unrealized losses
Less than 12 Months	(8,135)	(1,192)
12 Months or More	(3,405)	(2,375)
Total	$ (11,540)	$ (3,567)
Number of securities in loss position | security	44	53
Fair value of unrealized loss positions	$ 252,895	$ 166,564
Unrealized losses of unrealized loss positions	$ 11,540	$ 3,567
Number of securities in unrealized loss position for 12 months or greater | security	8	35
Fair value of securities in loss position for 12 months or greater	$ 32,916	$ 101,994
Unrealized loss of securities in loss position for 12 months or greater	3,405	2,375
U.S. treasury bonds
Fair value
Less than 12 Months	59,879
12 Months or More	0
Total	59,879
Unrealized losses
Less than 12 Months	(110)
12 Months or More	0
Total	(110)
U.S. agency bonds – mortgage-backed
Fair value
Less than 12 Months	4,415	19,360
12 Months or More	0	5,646
Total	4,415	25,006
Unrealized losses
Less than 12 Months	(193)	(85)
12 Months or More	0	(41)
Total	(193)	(126)
Asset-backed Securities
Fair value
Less than 12 Months	117,148	13,371
12 Months or More	5,064	31,052
Total	122,212	44,423
Unrealized losses
Less than 12 Months	(5,057)	(217)
12 Months or More	(36)	(189)
Total	(5,093)	(406)
Corporate bonds
Fair value
Less than 12 Months	38,537	31,839
12 Months or More	27,852	65,296
Total	66,389	97,135
Unrealized losses
Less than 12 Months	(2,775)	(890)
12 Months or More	(3,369)	(2,145)
Total	$ (6,144)	$ (3,035)

Investments - Other Than Tempor

Investments - Other Than Temporarily Impaired and Credit Ratings (Details)	12 Months Ended
	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)security
Schedule of Fixed Maturities [Line Items]
Total other-than-temporary impairment losses	$ 0	$ 2,468,000
Number of securities with other-than-temporary impairment losses | security		4
Amortized cost	595,344,000	$ 1,163,923,000
Fair value	$ 597,145,000	$ 1,213,411,000
% of Total fair value	100.00%	100.00%
AAA
Schedule of Fixed Maturities [Line Items]
Amortized cost	$ 161,179,000	$ 96,453,000
Fair value	$ 156,706,000	$ 97,515,000
% of Total fair value	26.20%	8.00%
AA+, AA, AA-
Schedule of Fixed Maturities [Line Items]
Amortized cost	$ 38,999,000	$ 114,751,000
Fair value	$ 39,140,000	$ 118,534,000
% of Total fair value	6.60%	9.80%
A+, A, A-
Schedule of Fixed Maturities [Line Items]
Amortized cost	$ 99,748,000	$ 265,725,000
Fair value	$ 99,962,000	$ 281,364,000
% of Total fair value	16.70%	23.20%
BBB+, BBB, BBB-
Schedule of Fixed Maturities [Line Items]
Amortized cost	$ 126,770,000	$ 274,406,000
Fair value	$ 129,618,000	$ 292,493,000
% of Total fair value	21.70%	24.10%
BB+ or lower
Schedule of Fixed Maturities [Line Items]
Amortized cost	$ 12,105,000	$ 45,996,000
Fair value	$ 13,050,000	$ 47,566,000
% of Total fair value	2.20%	3.90%
U.S. treasury bonds
Schedule of Fixed Maturities [Line Items]
Amortized cost	$ 59,989,000	$ 94,468,000
Fair value	$ 59,879,000	$ 94,502,000
% of Total fair value	10.00%	7.80%
U.S. agency bonds
Schedule of Fixed Maturities [Line Items]
Amortized cost	$ 96,554,000	$ 272,124,000
Fair value	$ 98,790,000	$ 281,437,000
% of Total fair value	16.60%	23.20%

Investments - Other Investments

Investments - Other Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Schedule of Investments [Line Items]
Carrying Value	$ 98,749	$ 27,189
% of Total	69.70%	42.60%
Other investments	$ 141,725	$ 63,760
% of Total	100.00%	100.00%
Privately held equity investments
Schedule of Investments [Line Items]
Carrying Value	$ 52,013	$ 22,844
% of Total	36.70%	35.80%
Private credit funds
Schedule of Investments [Line Items]
Carrying Value	$ 38,656	$ 1,301
% of Total	27.30%	2.00%
Private equity funds
Schedule of Investments [Line Items]
Carrying Value	$ 6,906	$ 3,044
% of Total	4.90%	4.80%
Publicly traded equity investments
Schedule of Investments [Line Items]
Carrying Value	$ 1,174	$ 0
% of Total	0.80%	0.00%
Investments in direct lending entities (at cost)
Schedule of Investments [Line Items]
Other investments	$ 42,976	$ 36,571
% of Total	30.30%	57.40%

Investments - Remaining Unfunde

Investments - Remaining Unfunded Commitments on Other Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Amount	$ 60,677	$ 63,313
% of Total	100.00%	100.00%
Private equity funds
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Amount	$ 10,762	$ 326
% of Total	17.70%	0.50%
Private credit funds
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Amount	$ 22,236	$ 33,584
% of Total	36.70%	53.00%
Investments in direct lending entities
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Amount	$ 13,216	$ 19,823
% of Total	21.80%	31.30%
Privately held equity investments
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Amount	$ 14,463	$ 9,580
% of Total	23.80%	15.20%

Investments - Equity Method Inv

Investments - Equity Method Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Schedule of Equity Method Investments [Line Items]
Carrying Value	$ 83,742	$ 43,136
% of Total	100.00%	100.00%
Remaining unfunded commitments	$ 60,677	$ 63,313
Real estate investments
Schedule of Equity Method Investments [Line Items]
Carrying Value	$ 44,050	$ 0
% of Total	52.60%	0.00%
Hedge fund investments
Schedule of Equity Method Investments [Line Items]
Carrying Value	$ 32,929	$ 29,435
% of Total	39.30%	68.20%
Publicly traded equity investments
Schedule of Equity Method Investments [Line Items]
Carrying Value	$ 6,763	$ 13,701
% of Total	8.10%	31.80%
Remaining unfunded commitments	$ 95,677
Equity Method Investments
Schedule of Equity Method Investments [Line Items]
Remaining unfunded commitments	$ 25,950

Investments - Net Investment In

Investments - Net Investment Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Schedule of Investments [Line Items]
Investment income	$ 34,361	$ 57,598
Investment expenses	(2,348)	(2,837)
Net investment income	32,013	54,761
Fixed maturities
Schedule of Investments [Line Items]
Investment income	19,146	36,258
Income on funds withheld
Schedule of Investments [Line Items]
Investment income	10,623	15,942
Interest income from loan to related party
Schedule of Investments [Line Items]
Investment income	3,492	3,996
Cash and cash equivalents and other investments
Schedule of Investments [Line Items]
Investment income	$ 1,100	$ 1,402

Investments - Net Realized and

Investments - Net Realized and Unrealized Gains (Losses) on Investment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Gain (Loss) on Securities [Line Items]
Net realized and unrealized gains (losses) on investment, gross gains	$ 17,912	$ 24,493
Net realized and unrealized gains (losses) on investment, gross losses	(5,264)	(20)
Net realized and unrealized gains (losses) on investment	12,648	24,473
Proceeds from sales of fixed maturities classified as available-for-sale	477,920	505,396
Equity method investments	(4,414)	0
Total net unrealized (losses) gains	(2,613)	49,488
Deferred income tax	(80)	(131)
Net unrealized (losses) gains, net of deferred income tax	(2,693)	49,357
Change, net of deferred income tax	(52,050)	27,361
Fixed maturities
Gain (Loss) on Securities [Line Items]
Fixed maturities, gross gains	9,838	24,101
Fixed maturities, gross losses	(741)	(1)
Fixed maturities, net	9,097	24,100
Other investments
Gain (Loss) on Securities [Line Items]
Other investments, gross gain	8,074	392
Other investments, gross loss	(4,523)	(19)
Other investments, net	3,551	373
Net gains recognized for other investments during the period	3,551	0
Less: Net gains recognized for other investments divested during the period	(3,377)	0
Net unrealized gains recognized for other investments still held at reporting date	174	0
Available-for-sale securities | Fixed maturities
Gain (Loss) on Securities [Line Items]
Fixed maturities	$ 1,801	$ 49,488

Investments - Restricted Cash a

Investments - Restricted Cash and Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Restricted Cash and Investments Items [Line Items]
Restricted cash	$ 39,419	$ 61,786
Restricted investments	542,728	1,018,269
Total restricted cash and investments	582,147	1,080,055
Third party agreements
Restricted Cash and Investments Items [Line Items]
Restricted cash	19,177	20,547
Restricted investments	48,845	63,281
Amortized cost	48,860	63,253
Related party agreements
Restricted Cash and Investments Items [Line Items]
Restricted cash	20,242	41,239
Restricted investments	493,883	954,988
Amortized cost	$ 493,128	$ 913,466

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value Hierarchy (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities	$ 597,145	$ 1,213,411
U.S. treasury bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities	59,879	94,502
U.S. agency bonds – mortgage-backed
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities	98,790	281,437
Non-U.S. government bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities	3,276	9,708
Asset-backed Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities	194,558	185,432
Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities	240,642	642,332
Fair Value, recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments	98,749	27,189
Total	$ 695,894	$ 1,240,600
As a percentage of total assets	29.90%	42.00%
Fair Value, recurring | U.S. treasury bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities	$ 59,879	$ 94,502
Fair Value, recurring | U.S. agency bonds – mortgage-backed
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities	98,790	281,437
Fair Value, recurring | Non-U.S. government bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities	3,276	9,708
Fair Value, recurring | Asset-backed Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities	194,558	185,432
Fair Value, recurring | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities	240,642	642,332
Fair Value, recurring | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments	1,174	0
Total	$ 61,053	$ 94,502
As a percentage of total assets	2.60%	3.20%
Fair Value, recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. treasury bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities	$ 59,879	$ 94,502
Fair Value, recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. agency bonds – mortgage-backed
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities	0	0
Fair Value, recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Non-U.S. government bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities	0	0
Fair Value, recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Asset-backed Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities	0	0
Fair Value, recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities	0	0
Fair Value, recurring | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments	0	0
Total	$ 537,266	$ 1,118,909
As a percentage of total assets	23.10%	37.90%
Fair Value, recurring | Significant Other Observable Inputs (Level 2) | U.S. treasury bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities	$ 0	$ 0
Fair Value, recurring | Significant Other Observable Inputs (Level 2) | U.S. agency bonds – mortgage-backed
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities	98,790	281,437
Fair Value, recurring | Significant Other Observable Inputs (Level 2) | Non-U.S. government bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities	3,276	9,708
Fair Value, recurring | Significant Other Observable Inputs (Level 2) | Asset-backed Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities	194,558	185,432
Fair Value, recurring | Significant Other Observable Inputs (Level 2) | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities	240,642	642,332
Fair Value, recurring | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments	27,094	22,844
Total	$ 27,094	$ 22,844
As a percentage of total assets	1.20%	0.80%
Fair Value, recurring | Significant Unobservable Inputs (Level 3) | U.S. treasury bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities	$ 0	$ 0
Fair Value, recurring | Significant Unobservable Inputs (Level 3) | U.S. agency bonds – mortgage-backed
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities	0	0
Fair Value, recurring | Significant Unobservable Inputs (Level 3) | Non-U.S. government bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities	0	0
Fair Value, recurring | Significant Unobservable Inputs (Level 3) | Asset-backed Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities	0	0
Fair Value, recurring | Significant Unobservable Inputs (Level 3) | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities	0	0
Fair Value, recurring | Fair Value Based on NAV Practical Expedient
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments	70,481	4,345
Total	$ 70,481	$ 4,345
As a percentage of total assets	3.00%	0.10%

Fair Value Measurements- Narrat

Fair Value Measurements- Narrative (Details) $ in Thousands	Dec. 31, 2021USD ($)security	Dec. 31, 2020USD ($)security
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of securities | security	1	2
Fixed maturities | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities measured using the market approach	$ 6,225	$ 10,809
Fair Value, recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments	98,749	27,189
Fair Value, recurring | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments	0	0
Fair Value, recurring | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments	$ 27,094	$ 22,844
Estimate of Fair Value Measurement | Fair Value, recurring | Fixed maturities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets valued by third party, percentage	99.00%	99.10%
Assets valued using market approach, percentage	1.00%	0.90%

Fair Value Measurements - Signi

Fair Value Measurements - Significant Unobservable Inputs for Determining Fair Value of Other Investments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Measurement Input, Maturity | Quarterly financial statements | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Range	1 year
Measurement Input, Maturity | Quarterly financial statements | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Range	3 years
Fair Value, recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 98,749	$ 27,189
Significant Unobservable Inputs (Level 3) | Fair Value, recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	27,094	$ 22,844
Significant Unobservable Inputs (Level 3) | Fair Value, recurring | Privately held equity investments | Quarterly financial statements
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	25,294
Significant Unobservable Inputs (Level 3) | Fair Value, recurring | Privately held equity investments | Recent market transactions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 1,800

Fair Value Measurements - Recon

Fair Value Measurements - Reconciliation of Other Investments Measured at Fair Value (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance - beginning of period	$ 22,844	$ 1,800
Purchases	5,250	21,044
Transfers out of Level 3	(1,000)	0
Total Level 3 investments - end of period	$ 27,094	$ 22,844

Fair Value Measurements - Carry

Fair Value Measurements - Carrying Value and Fair Value of Senior Notes (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Senior Notes | Senior Notes - MHLA – 6.625%
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Stated interest rate	6.625%
Senior Notes | Senior Notes - MHNC – 7.75%
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Stated interest rate	7.75%
Carrying Value | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior notes	$ 262,500	$ 262,500
Carrying Value | Senior Notes | Senior Notes - MHLA – 6.625% | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior notes	110,000	110,000
Carrying Value | Senior Notes | Senior Notes - MHNC – 7.75% | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior notes	152,500	152,500
Fair Value | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior notes	235,120	222,898
Fair Value | Senior Notes | Senior Notes - MHLA – 6.625% | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior notes	94,820	90,772
Fair Value | Senior Notes | Senior Notes - MHNC – 7.75% | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior notes	$ 140,300	$ 132,126

Shareholders' Equity - Narrativ

Shareholders' Equity - Narrative (Details)	Aug. 22, 2012$ / sharesshares	Dec. 31, 2021USD ($)directorperiod$ / sharesshares	Dec. 31, 2020USD ($)$ / sharesshares	May 06, 2021USD ($)	Mar. 03, 2021USD ($)	Dec. 31, 2019shares	Jun. 15, 2017$ / sharesshares	Feb. 21, 2017USD ($)	Nov. 25, 2015$ / sharesshares
Class of Stock [Line Items]
Shares authorized (in shares)		150,000,000
Common shares, issued (in shares)		92,316,107	89,815,175
Common shares, outstanding (in shares)		86,467,242	84,801,161			83,148,458
Preference shares issued (in shares)		18,600,000
Preference shares outstanding (in shares)		18,600,000
Shares undesignated (in shares)		39,083,893
Preference shares outstanding, held by non-affiliates (in shares)		6,368,393
Common shares, par value (in dollars per share) | $ / shares		$ 0.01	$ 0.01
Number of votes per share | period		1
Remaining shares authorized | $		$ 74,245,000	$ 74,245,000
Shares repurchased (in shares)		0	0
Shares repurchased for tax withholding (in shares)		834,851	834
Shares repurchased for tax withholding for tax withholding (in dollars per share) | $ / shares		$ 2.97	$ 1.13
Preferred Stock
Class of Stock [Line Items]
Authorized amount of share repurchase program | $				$ 50,000,000	$ 100,000,000
Remaining shares authorized | $		$ 13,845,000
Preference shares- Series A, C and D
Class of Stock [Line Items]
Number of directors contingently electable | director		2
Preferred stock, dividend default period (in quarter dividend periods) | period		6
Preference shares – Series A
Class of Stock [Line Items]
Preference shares outstanding (in shares)	6,000,000	6,000,000
Preference shares outstanding, held by non-affiliates (in shares)		1,935,689
Dividend rate of preference shares	8.25%
Par value of preference shares (in dollars per share) | $ / shares	$ 0.01
Fair value of share (in dollars per share) | $ / shares	25
Redemption price for preference shares (in dollars per share) | $ / shares	$ 25
Preference shares - Series C
Class of Stock [Line Items]
Preference shares outstanding (in shares)		6,600,000							6,600,000
Preference shares outstanding, held by non-affiliates (in shares)		2,369,770
Par value of preference shares (in dollars per share) | $ / shares									$ 0.01
Fair value of share (in dollars per share) | $ / shares									25
Redemption price for preference shares (in dollars per share) | $ / shares									$ 25
Preference shares - Series D
Class of Stock [Line Items]
Preference shares outstanding (in shares)		6,000,000					6,000,000
Preference shares outstanding, held by non-affiliates (in shares)		2,062,934
Par value of preference shares (in dollars per share) | $ / shares							$ 0.01
Fair value of share (in dollars per share) | $ / shares							25
Redemption price for preference shares (in dollars per share) | $ / shares							$ 25
Common shares
Class of Stock [Line Items]
Authorized amount of share repurchase program | $								$ 100,000,000

Shareholders' Equity - Changes

Shareholders' Equity - Changes in Common Stock Outstanding (Details) - shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Outstanding shares – January 1	84,801,161	83,148,458
Issuance of vested restricted shares and restricted share units	2,500,932	1,653,537
Shares repurchased	(834,851)	(834)
Outstanding shares – December 31	86,467,242	84,801,161

Shareholders' Equity - Preferen

Shareholders' Equity - Preference Shares Repurchased (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Class of Stock [Line Items]
Number of shares purchased (in shares)	9,404,012	2,827,595
Average price of shares purchased (in dollars per share)	$ 14.48	$ 10.50
Repurchase of preference shares	$ 136,155	$ 29,690
Gain on repurchase of preference shares	$ 90,998	$ 38,195
Series A
Class of Stock [Line Items]
Number of shares purchased (in shares)	3,519,093	545,218
Average price of shares purchased (in dollars per share)	$ 14.74	$ 10.50
Series C
Class of Stock [Line Items]
Number of shares purchased (in shares)	3,026,764	1,203,466
Average price of shares purchased (in dollars per share)	$ 14.36	$ 10.50
Series D
Class of Stock [Line Items]
Number of shares purchased (in shares)	2,858,155	1,078,911
Average price of shares purchased (in dollars per share)	$ 14.27	$ 10.50

Shareholders' Equity - Change_2

Shareholders' Equity - Changes in Preference Shares Outstanding (Details) - shares	Dec. 31, 2021	Jun. 15, 2017	Nov. 25, 2015	Aug. 22, 2012
Class of Stock [Line Items]
Outstanding shares issued by Maiden Holdings (in shares)	18,600,000
Less: Total shares held by Maiden Reinsurance (in shares)	12,231,607
Total shares held by non-affiliates - end of period (in shares)	6,368,393
Percentage held by Maiden Reinsurance - end of period	65.80%
Series A
Class of Stock [Line Items]
Outstanding shares issued by Maiden Holdings (in shares)	6,000,000			6,000,000
Less: Total shares held by Maiden Reinsurance (in shares)	4,064,311
Total shares held by non-affiliates - end of period (in shares)	1,935,689
Percentage held by Maiden Reinsurance - end of period	67.70%
Series C
Class of Stock [Line Items]
Outstanding shares issued by Maiden Holdings (in shares)	6,600,000		6,600,000
Less: Total shares held by Maiden Reinsurance (in shares)	4,230,230
Total shares held by non-affiliates - end of period (in shares)	2,369,770
Percentage held by Maiden Reinsurance - end of period	64.10%
Series D
Class of Stock [Line Items]
Outstanding shares issued by Maiden Holdings (in shares)	6,000,000	6,000,000
Less: Total shares held by Maiden Reinsurance (in shares)	3,937,066
Total shares held by non-affiliates - end of period (in shares)	2,062,934
Percentage held by Maiden Reinsurance - end of period	65.60%

Shareholders' Equity - AOCI Com

Shareholders' Equity - AOCI Components (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 527,816
Other comprehensive (loss) income before reclassifications	(17,285)	$ 18,668
Amounts reclassified from AOCI to net income, net of tax	(18,787)	(12,647)
Other comprehensive (loss) income, after tax	(36,072)	6,021
Ending balance	384,257	527,816
Total
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	23,857	17,836
Ending balance	(12,215)	23,857
Change in net unrealized gains on investment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	49,357	21,996
Other comprehensive (loss) income before reclassifications	(33,263)	40,008
Amounts reclassified from AOCI to net income, net of tax	(18,787)	(12,647)
Other comprehensive (loss) income, after tax	(52,050)	27,361
Ending balance	(2,693)	49,357
Foreign currency translation adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(25,500)	(4,160)
Other comprehensive (loss) income before reclassifications	15,978	(21,340)
Amounts reclassified from AOCI to net income, net of tax	0	0
Other comprehensive (loss) income, after tax	15,978	(21,340)
Ending balance	$ (9,522)	$ (25,500)

Shareholders' Equity - Reclassi

Shareholders' Equity - Reclassified out of AOCI (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net realized gains on investment	$ 12,648	$ 24,473
Income before income taxes and interest in income of equity method investments	18,912	36,560
Income tax expense	(15)	104
Net income	26,645	41,762
Change in net unrealized gains on investment | Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net realized gains on investment	18,787	15,115
Net impairment losses recognized in earnings	0	(2,468)
Income before income taxes and interest in income of equity method investments	18,787	12,647
Income tax expense	0	0
Net income	$ 18,787	$ 12,647

Long-Term Debt - Senior Notes I

Long-Term Debt - Senior Notes Issuances (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Principal amount	$ 262,500	$ 262,500
Less: unamortized issuance costs	7,153	7,374
Senior notes, net	255,347	255,126
Senior Notes
Debt Instrument [Line Items]
Principal amount	262,500	262,500
Less: unamortized issuance costs	7,153	7,374
Senior notes, net	255,347	255,126
Senior Notes | 2016 Senior Notes
Debt Instrument [Line Items]
Principal amount	110,000	110,000
Less: unamortized issuance costs	3,463	3,516
Senior notes, net	106,537	106,484
Original debt issuance costs	$ 3,715
Coupon rate	6.625%
Effective interest rate	7.07%
Senior Notes | 2013 Senior Notes
Debt Instrument [Line Items]
Principal amount	$ 152,500	152,500
Less: unamortized issuance costs	3,690	3,858
Senior notes, net	148,810	$ 148,642
Original debt issuance costs	$ 5,054
Coupon rate	7.75%
Effective interest rate	8.04%

Long-Term Debt - Narrative (Det

Long-Term Debt - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Interest expense	$ 19,327	$ 19,324
Senior Notes
Debt Instrument [Line Items]
Interest expense	19,106	19,106
Accrued interest	1,342	1,342
Amortization expense	$ 221	$ 218
2013 Senior Notes | Senior Notes
Debt Instrument [Line Items]
Redemption price percentage	100.00%
2016 Senior Notes | Senior Notes
Debt Instrument [Line Items]
Redemption price percentage	100.00%
Minimum | 2013 Senior Notes | Senior Notes
Debt Instrument [Line Items]
Number of days notice prior to the redemption date	30 days
Minimum | 2016 Senior Notes | Senior Notes
Debt Instrument [Line Items]
Number of days notice prior to the redemption date	30 days
Maximum | 2013 Senior Notes | Senior Notes
Debt Instrument [Line Items]
Number of days notice prior to the redemption date	60 days
Maximum | 2016 Senior Notes | Senior Notes
Debt Instrument [Line Items]
Number of days notice prior to the redemption date	60 days

Reinsurance - Effects of Reinsu

Reinsurance - Effects of Reinsurance on Premiums Written and Earned and on Net Loss and LAE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Premiums written
Direct	$ 21,866	$ 19,550
Assumed	(10,928)	11,839
Ceded	(535)	(2,957)
Net	10,403	28,432
Premiums earned
Direct	22,857	19,711
Assumed	31,497	89,461
Ceded	(1,361)	(3,091)
Net premiums earned	52,993	106,081
Loss and LAE
Gross loss and LAE	9,344	57,146
Loss and LAE ceded	(2,037)	(15,347)
Net	$ 7,307	$ 41,799

Reinsurance - Narrative (Detail

Reinsurance - Narrative (Details) - USD ($)	Jul. 31, 2019	Jul. 31, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 27, 2018
Concentration Risk [Line Items]
Reinsurance recoverable on unpaid losses			$ 562,845,000	$ 592,571,000
Reinsurance recoverable for unpaid claims and claims adjustments, valuation allowance			0	0
Quota share reinsurance agreement, excess retention		$ 2,178,535,000
Quota share reinsurance agreement, amount retained	$ 600,000,000
Ceded cumulative losses	445,000,000	445,000,000
Quota share loss reserve						$ 155,000,000
Reinsurance recoverable on unpaid losses			562,845,000	592,571,000	$ 623,422,000
Deferred gain on retroactive reinsurance			48,960,000	74,941,000
Collateral by third party			401,642,000
Maximum
Concentration Risk [Line Items]
Covered losses	312,786,000	312,786,000
Diversified Reinsurance
Concentration Risk [Line Items]
Assets and liabilities associated with reinsurance business retroceded							100.00%
AmTrust Reinsurance
Concentration Risk [Line Items]
Reinsurance recoverable on unpaid losses	$ 445,000,000	$ 445,000,000
Reinsurance recoverable on unpaid losses			490,860,000	519,941,000
Deferred gain on retroactive reinsurance			45,860,000
Other reconciling items | Diversified Reinsurance
Concentration Risk [Line Items]
Reinsurance recoverable on unpaid losses			0	$ 67,972,000
Other reconciling items | AmTrust Reinsurance
Concentration Risk [Line Items]
Reinsurance recoverable on unpaid losses			$ 24,050,000

Reserve for Loss and Loss Adj_3

Reserve for Loss and Loss Adjustment Expenses - Schedule for Reserve for Loss and LAE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Insurance [Abstract]
Reserve for reported loss and LAE	$ 851,950	$ 998,691
Reserve for losses incurred but not reported ("IBNR")	637,423	894,608
Reserve for loss and LAE	1,489,373	1,893,299
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Gross loss and LAE reserves, January 1	1,893,299	2,439,907
Less: reinsurance recoverable on unpaid losses, January 1	592,571	623,422
Net loss and LAE reserves, January 1	1,300,728	1,816,485
Net incurred losses related to Current year	34,912	58,332
Net incurred losses related to Prior year	(27,605)	(16,533)
Net incurred losses	7,307	41,799
Net paid losses related to Current year	(10,026)	(22,405)
Net paid losses related to Prior years	(389,231)	(608,324)
Net paid losses	(399,257)	(630,729)
Retroactive ceded reinsurance	29,081	38,009
Retroactive assumed reinsurance	14,825	0
Effect of foreign exchange rate movements	(26,156)	35,164
Net loss and LAE reserves, December 31	926,528	1,300,728
Reinsurance recoverable on unpaid losses, December 31	562,845	592,571
Gross loss and LAE reserves, December 31	$ 1,489,373	$ 1,893,299

Reserve for Loss and Loss Adj_4

Reserve for Loss and Loss Adjustment Expenses - Prior Year Development (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Net adverse prior year development (net favorable prior year reserve development)	$ (27,605)	$ (16,533)
Diversified Reinsurance
Segment Reporting Information [Line Items]
Net adverse prior year development (net favorable prior year reserve development)	(3,561)	(1,295)
AmTrust Reinsurance
Segment Reporting Information [Line Items]
Net adverse prior year development (net favorable prior year reserve development)	$ (24,044)	$ (15,238)

Reserve for Loss and Loss Adj_5

Reserve for Loss and Loss Adjustment Expenses - Narrative (Details)	Jul. 31, 2019USD ($)	Jul. 01, 2013	Jul. 01, 2007	Dec. 31, 2021USD ($)contract	Dec. 31, 2020USD ($)	Nov. 30, 2010USD ($)
Segment Reporting Information [Line Items]
Net increase (decrease) incurred losses related to prior years				$ (27,605,000)	$ (16,533,000)
Net increase (decrease) incurred losses related to prior years, percentage				(2.10%)	(0.90%)
Net adverse prior year development (net favorable prior year reserve development)				$ (27,605,000)	$ (16,533,000)
Retroactive reinsurance increase (decrease)				$ (29,081,000)	(38,009,000)
Deferred gain on retroactive reinsurance, increase (decrease)					(14,304,000)
Number of short duration insurance contracts | contract				2
Reserve acquired from loss portfolio transfer agreement				$ 926,528,000
Typical insurance limit				1,000,000
AmTrust Financial Services, Inc. | AmTrust Quota Share
Segment Reporting Information [Line Items]
Percent of losses with respect to current lines of business, excluding those above covered business threshold to related party		40.00%	40.00%
AmTrust Financial Services, Inc. | AmTrust Quota Share | Post-Termination Endorsement, Maximum Loss Corridor
Segment Reporting Information [Line Items]
Related party transaction amount	$ 40,500,000			$ 42,710,000
Minimum | AmTrust Financial Services, Inc. | AmTrust Quota Share
Segment Reporting Information [Line Items]
Commission rate, adjustment criteria, loss ratio floor				81.50%
Maximum | AmTrust Financial Services, Inc. | AmTrust Quota Share
Segment Reporting Information [Line Items]
Commission rate, adjustment criteria, loss ratio ceiling				95.00%
Workers' Compensation
Segment Reporting Information [Line Items]
Deferred gain on retroactive reinsurance, increase (decrease)					(23,705,000)
AmTrust Reinsurance
Segment Reporting Information [Line Items]
Net adverse prior year development (net favorable prior year reserve development)				$ (24,044,000)	(15,238,000)
Purchase significant reinsurance for losses above				$ 10,000,000
Percent share of losses net of reinsurance				40.00%
AmTrust Reinsurance | Workers' Compensation
Segment Reporting Information [Line Items]
Net adverse prior year development (net favorable prior year reserve development)				$ (22,242,000)	(39,016,000)
Reserve acquired from loss portfolio transfer agreement				92,983,000
AmTrust Reinsurance | Commercial Auto Liability
Segment Reporting Information [Line Items]
Net adverse prior year development (net favorable prior year reserve development)				(29,918,000)	17,650,000
Reserve acquired from loss portfolio transfer agreement				185,414,000
AmTrust Reinsurance | Hospital Liability
Segment Reporting Information [Line Items]
Net adverse prior year development (net favorable prior year reserve development)				7,885,000
AmTrust Reinsurance | General Liability
Segment Reporting Information [Line Items]
Net adverse prior year development (net favorable prior year reserve development)				20,868,000	18,334,000
Reserve acquired from loss portfolio transfer agreement				204,090,000
AmTrust Reinsurance | Other lines
Segment Reporting Information [Line Items]
Net adverse prior year development (net favorable prior year reserve development)					(12,889,000)
Reserve acquired from loss portfolio transfer agreement				9,315,000
Diversified Reinsurance
Segment Reporting Information [Line Items]
Net adverse prior year development (net favorable prior year reserve development)				$ (3,561,000)	$ (1,295,000)
Reserve acquired from loss portfolio transfer agreement						$ 98,827,000

Reserve for Loss and Loss Adj_6

Reserve for Loss and Loss Adjustment Expenses - Incurred losses and LAE, Net of Reinsurance and Cumulative Paid Losses and LAE, Net of Reinsurance (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Jul. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Nov. 30, 2010
Claims Development [Line Items]
Impact of LPT/ADC	$ 562,845	$ 592,571
Reserve for loss and LAE	1,489,373	1,893,299	$ 2,439,907
Total net reserves including impact of ADC	926,528
Diversified Reinsurance
Claims Development [Line Items]
Total net reserves including impact of ADC												$ 98,827
AmTrust Reinsurance
Claims Development [Line Items]
Impact of LPT/ADC				$ 445,000
International | Diversified Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	512,516
Total IBNR	4,788
Impact of LPT/ADC	2,979
Cumulative paid loss and LAE, net of reinsurance	471,290
Reserve for loss and LAE	44,205
Total net reserves including impact of ADC	41,226
International | 2010 | Diversified Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	82,515	82,196	82,083		$ 81,042	$ 81,349	$ 79,349	$ 77,274	$ 78,894	$ 79,144	$ 79,244
Total IBNR	648
Cumulative paid loss and LAE, net of reinsurance	60,008	58,857	57,752		56,295	54,600	53,121	51,605	50,016	48,282	43,379
International | 2011 | Diversified Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	48,968	48,967	49,007		49,049	48,803	48,424	48,594	48,637	48,453	48,414
Total IBNR	96
Cumulative paid loss and LAE, net of reinsurance	49,456	49,385	49,300		49,234	49,121	48,980	48,748	48,329	47,091	45,469
International | 2012 | Diversified Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	49,749	49,643	49,714		49,763	50,043	49,782	49,700	49,594	49,319	51,076
Total IBNR	206
Cumulative paid loss and LAE, net of reinsurance	45,562	45,454	45,368		45,354	45,238	44,656	44,329	43,240	40,857	23,916
International | 2013 | Diversified Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	52,705	52,599	52,670		52,281	52,060	51,460	51,958	50,639	45,495
Total IBNR	(93)
Cumulative paid loss and LAE, net of reinsurance	48,445	48,794	48,472		48,392	48,179	47,711	46,367	43,883	24,575
International | 2014 | Diversified Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	47,624	47,742	48,002		47,926	48,153	48,258	48,387	42,607
Total IBNR	18
Cumulative paid loss and LAE, net of reinsurance	46,213	46,038	45,918		45,810	45,552	44,328	42,054	23,766
International | 2015 | Diversified Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	43,683	44,017	44,177		44,161	44,724	44,230	42,814
Total IBNR	(312)
Cumulative paid loss and LAE, net of reinsurance	43,402	43,183	42,900		42,479	41,436	39,379	21,787
International | 2016 | Diversified Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	39,881	40,361	39,965		40,006	40,668	38,661
Total IBNR	(338)
Cumulative paid loss and LAE, net of reinsurance	40,270	39,696	39,052		38,292	36,443	22,320
International | 2017 | Diversified Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	34,058	34,050	35,170		36,244	36,791
Total IBNR	77
Cumulative paid loss and LAE, net of reinsurance	36,597	36,158	35,322		33,554	19,098
International | 2018 | Diversified Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	43,297	43,242	42,985		45,031
Total IBNR	(844)
Cumulative paid loss and LAE, net of reinsurance	41,898	39,769	37,672		20,879
International | 2019 | Diversified Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	36,659	37,563	36,470
Total IBNR	53
Cumulative paid loss and LAE, net of reinsurance	33,899	31,204	17,295
International | 2020 | Diversified Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	26,766	27,568
Total IBNR	4,261
Cumulative paid loss and LAE, net of reinsurance	21,905	11,900
International | 2021 | Diversified Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	6,611
Total IBNR	1,016
Cumulative paid loss and LAE, net of reinsurance	3,635
European Capital Solutions | Diversified Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	58,091
Total IBNR	7,178
Impact of LPT/ADC	0
Cumulative paid loss and LAE, net of reinsurance	37,940
Reserve for loss and LAE	20,151
Total net reserves including impact of ADC	20,151
European Capital Solutions | 2016 | Diversified Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	5,865	5,981	5,643		5,390	4,973	4,899
Total IBNR	182
Cumulative paid loss and LAE, net of reinsurance	5,017	4,832	4,699		3,311	2,340	791
European Capital Solutions | 2017 | Diversified Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	9,188	8,811	9,130		10,232	8,824
Total IBNR	705
Cumulative paid loss and LAE, net of reinsurance	7,152	6,552	5,821		4,125	1,952
European Capital Solutions | 2018 | Diversified Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	26,232	26,420	25,772		23,891
Total IBNR	2,979
Cumulative paid loss and LAE, net of reinsurance	18,134	12,587	5,944		3,231
European Capital Solutions | 2019 | Diversified Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	16,598	16,677	16,273
Total IBNR	3,269
Cumulative paid loss and LAE, net of reinsurance	7,547	6,031	5,758
European Capital Solutions | 2020 | Diversified Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	208	232
Total IBNR	43
Cumulative paid loss and LAE, net of reinsurance	90	92
Workers' Compensation | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	3,673,314
Total IBNR	237,606
Impact of LPT/ADC	375,185
Cumulative paid loss and LAE, net of reinsurance	3,205,417
All outstanding liabilities prior to 2008, net of reinsurance	271
Reserve for loss and LAE	468,168
Total net reserves including impact of ADC	92,983
Workers' Compensation | 2008 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	86,292	86,117	83,952		84,710	83,622	83,039	82,301	81,240	82,438	81,493
Total IBNR	2,297
Impact of LPT/ADC	2,498
Cumulative paid loss and LAE, net of reinsurance	82,676	82,286	82,709		82,436	81,159	79,230	78,161	77,370	76,018	72,823
Workers' Compensation | 2009 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	110,207	109,021	109,664		110,175	107,165	105,901	106,204	109,213	103,864	102,245
Total IBNR	2,478
Impact of LPT/ADC	3,675
Cumulative paid loss and LAE, net of reinsurance	104,205	103,771	102,877		101,823	100,103	98,811	96,396	93,425	89,462	83,464
Workers' Compensation | 2010 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	126,516	126,621	127,381		127,215	123,968	124,073	125,020	120,243	118,209	113,880
Total IBNR	6,691
Impact of LPT/ADC	5,091
Cumulative paid loss and LAE, net of reinsurance	115,508	114,730	116,332		115,959	115,014	114,639	108,171	103,280	95,120	82,614
Workers' Compensation | 2011 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	137,355	141,272	139,685		138,600	135,379	133,916	133,995	132,728	130,712	125,549
Total IBNR	2,476
Impact of LPT/ADC	7,041
Cumulative paid loss and LAE, net of reinsurance	130,413	129,408	125,843		124,315	122,579	115,966	114,107	105,584	91,414	69,357
Workers' Compensation | 2012 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	187,089	192,263	188,879		192,087	181,616	172,692	171,040	173,946	168,016	136,960
Total IBNR	6,063
Impact of LPT/ADC	11,801
Cumulative paid loss and LAE, net of reinsurance	174,436	172,251	168,154		164,512	158,807	150,543	138,706	119,059	88,382	45,030
Workers' Compensation | 2013 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	277,365	281,580	273,571		276,249	261,915	242,447	238,392	245,765	237,019
Total IBNR	11,159
Impact of LPT/ADC	17,716
Cumulative paid loss and LAE, net of reinsurance	252,506	248,103	234,342		227,502	216,527	199,300	168,785	121,182	56,249
Workers' Compensation | 2014 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	445,258	449,374	455,521		457,363	419,748	382,260	365,515	379,589
Total IBNR	27,950
Impact of LPT/ADC	33,599
Cumulative paid loss and LAE, net of reinsurance	392,101	383,529	370,176		355,414	321,258	268,467	189,954	69,512
Workers' Compensation | 2015 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	547,439	549,857	545,271		551,145	526,269	474,212	474,140
Total IBNR	37,772
Impact of LPT/ADC	47,662
Cumulative paid loss and LAE, net of reinsurance	466,868	448,867	417,736		388,640	338,642	246,616	86,695
Workers' Compensation | 2016 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	568,791	579,849	603,529		627,728	568,006	528,906
Total IBNR	55,180
Impact of LPT/ADC	56,733
Cumulative paid loss and LAE, net of reinsurance	471,382	449,347	428,651		380,602	284,501	110,051
Workers' Compensation | 2017 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	591,122	593,920	613,577		654,362	615,957
Total IBNR	44,485
Impact of LPT/ADC	84,351
Cumulative paid loss and LAE, net of reinsurance	507,903	485,611	448,551		274,596	111,508
Workers' Compensation | 2018 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	585,009	575,765	580,528		592,566
Total IBNR	40,214
Impact of LPT/ADC	105,018
Cumulative paid loss and LAE, net of reinsurance	499,349	465,762	409,986		110,954
Workers' Compensation | 2019 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	10,871	9,945	12,751
Total IBNR	841
Impact of LPT/ADC	0
Cumulative paid loss and LAE, net of reinsurance	8,070	5,821	3,907
General Liability | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	1,075,818
Total IBNR	129,182
Impact of LPT/ADC	75,849
Cumulative paid loss and LAE, net of reinsurance	795,887
All outstanding liabilities prior to 2008, net of reinsurance	8
Reserve for loss and LAE	279,939
Total net reserves including impact of ADC	204,090
General Liability | 2008 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	40,381	40,398	36,996		37,605	36,627	35,985	34,169	33,792	33,051	31,921
Total IBNR	3,327
Impact of LPT/ADC	161
Cumulative paid loss and LAE, net of reinsurance	37,278	37,253	34,893		36,699	34,935	32,765	32,423	32,849	29,384	26,288
General Liability | 2009 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	35,733	36,228	35,410		35,138	34,863	34,040	32,418	30,902	29,123	28,384
Total IBNR	689
Impact of LPT/ADC	171
Cumulative paid loss and LAE, net of reinsurance	34,999	34,984	32,487		33,473	32,878	30,924	28,312	24,298	19,727	13,904
General Liability | 2010 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	44,778	45,490	43,062		42,884	41,597	38,298	38,536	36,455	34,761	28,850
Total IBNR	669
Impact of LPT/ADC	443
Cumulative paid loss and LAE, net of reinsurance	43,076	42,509	39,888		39,214	37,317	34,125	30,948	26,429	19,010	11,187
General Liability | 2011 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	54,683	55,607	53,499		52,746	49,338	45,303	42,100	40,557	35,628	24,731
Total IBNR	695
Impact of LPT/ADC	695
Cumulative paid loss and LAE, net of reinsurance	52,592	51,492	49,178		47,141	41,257	39,350	31,619	22,963	12,158	6,072
General Liability | 2012 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	64,052	63,704	63,429		59,948	55,991	50,800	48,851	42,450	33,445	21,281
Total IBNR	4,471
Impact of LPT/ADC	1,302
Cumulative paid loss and LAE, net of reinsurance	57,913	55,350	56,538		53,526	45,775	40,864	29,752	18,020	13,224	5,084
General Liability | 2013 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	96,342	95,050	92,032		89,204	79,731	68,641	66,869	43,116	42,021
Total IBNR	3,689
Impact of LPT/ADC	2,534
Cumulative paid loss and LAE, net of reinsurance	87,178	83,571	76,996		70,074	58,377	44,698	32,249	10,226	4,996
General Liability | 2014 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	119,782	119,367	116,085		111,970	99,873	77,930	66,558	65,469
Total IBNR	10,123
Impact of LPT/ADC	5,734
Cumulative paid loss and LAE, net of reinsurance	96,521	92,861	86,101		77,259	57,678	36,026	24,581	3,503
General Liability | 2015 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	154,939	154,529	154,071		139,518	122,942	95,766	118,111
Total IBNR	13,452
Impact of LPT/ADC	10,590
Cumulative paid loss and LAE, net of reinsurance	120,546	112,542	98,278		79,291	52,350	33,963	20,849
General Liability | 2016 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	147,996	147,858	148,371		120,911	114,864	98,149
Total IBNR	19,131
Impact of LPT/ADC	14,049
Cumulative paid loss and LAE, net of reinsurance	101,764	88,627	67,064		45,855	21,959	6,402
General Liability | 2017 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	162,856	161,354	165,268		133,533	116,158
Total IBNR	29,103
Impact of LPT/ADC	18,410
Cumulative paid loss and LAE, net of reinsurance	97,356	79,531	51,545		27,001	6,967
General Liability | 2018 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	148,295	148,817	153,822		121,991
Total IBNR	39,473
Impact of LPT/ADC	21,760
Cumulative paid loss and LAE, net of reinsurance	65,947	42,792	24,618		7,907
General Liability | 2019 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	5,981	6,017	5,427
Total IBNR	4,360
Impact of LPT/ADC	0
Cumulative paid loss and LAE, net of reinsurance	717	314	27
Commercial Auto Liability | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	1,156,599
Total IBNR	76,741
Impact of LPT/ADC	14,356
Cumulative paid loss and LAE, net of reinsurance	956,886
All outstanding liabilities prior to 2008, net of reinsurance	57
Reserve for loss and LAE	199,770
Total net reserves including impact of ADC	185,414
Commercial Auto Liability | 2008 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	37,854	37,746	35,542		35,382	35,521	35,975	34,584	34,522	33,700	32,769
Total IBNR	2,052
Impact of LPT/ADC	60
Cumulative paid loss and LAE, net of reinsurance	35,013	34,982	36,968		35,284	34,803	34,074	33,536	32,643	30,975	29,386
Commercial Auto Liability | 2009 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	31,019	31,082	31,064		31,033	30,919	30,468	31,024	30,812	28,551	26,275
Total IBNR	437
Impact of LPT/ADC	47
Cumulative paid loss and LAE, net of reinsurance	30,340	30,337	31,194		30,204	29,842	29,829	29,226	26,975	22,959	18,736
Commercial Auto Liability | 2010 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	40,631	40,637	42,070		41,996	42,146	40,523	40,193	38,043	37,154	33,457
Total IBNR	218
Impact of LPT/ADC	29
Cumulative paid loss and LAE, net of reinsurance	40,411	40,407	40,395		40,282	39,750	39,413	37,734	34,855	28,602	21,050
Commercial Auto Liability | 2011 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	34,690	34,707	34,643		36,065	36,149	34,790	33,839	32,578	29,577	24,292
Total IBNR	481
Impact of LPT/ADC	1
Cumulative paid loss and LAE, net of reinsurance	34,005	33,872	33,451		33,155	33,130	32,362	29,769	25,808	18,813	12,333
Commercial Auto Liability | 2012 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	45,753	45,902	45,917		45,753	46,150	48,116	44,812	40,076	32,691	20,863
Total IBNR	(59)
Impact of LPT/ADC	0
Cumulative paid loss and LAE, net of reinsurance	45,812	45,819	45,751		45,555	44,165	43,745	35,460	26,508	14,979	6,693
Commercial Auto Liability | 2013 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	63,589	63,532	63,620		62,163	63,162	59,702	50,647	44,771	33,473
Total IBNR	388
Impact of LPT/ADC	41
Cumulative paid loss and LAE, net of reinsurance	62,968	62,562	62,331		59,600	57,349	48,122	34,379	19,865	8,267
Commercial Auto Liability | 2014 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	93,208	94,238	92,572		89,299	82,427	73,966	55,023	47,525
Total IBNR	1,098
Impact of LPT/ADC	289
Cumulative paid loss and LAE, net of reinsurance	91,000	90,761	87,458		79,766	64,459	42,960	22,858	8,450
Commercial Auto Liability | 2015 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	129,082	129,849	127,560		119,141	106,560	92,955	66,967
Total IBNR	1,607
Impact of LPT/ADC	1,190
Cumulative paid loss and LAE, net of reinsurance	121,605	118,753	107,707		86,433	62,945	39,179	13,102
Commercial Auto Liability | 2016 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	167,479	170,275	171,504		144,077	118,210	121,828
Total IBNR	2,849
Impact of LPT/ADC	2,291
Cumulative paid loss and LAE, net of reinsurance	145,727	133,826	113,174		76,635	48,595	19,071
Commercial Auto Liability | 2017 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	220,471	230,972	220,457		189,257	156,575
Total IBNR	14,751
Impact of LPT/ADC	3,538
Cumulative paid loss and LAE, net of reinsurance	176,863	154,600	115,623		69,657	26,863
Commercial Auto Liability | 2018 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	219,800	230,200	224,780		177,150
Total IBNR	30,511
Impact of LPT/ADC	6,870
Cumulative paid loss and LAE, net of reinsurance	138,770	107,184	67,080		30,018
Commercial Auto Liability | 2019 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	73,023	77,371	79,172
Total IBNR	22,415
Impact of LPT/ADC	0
Cumulative paid loss and LAE, net of reinsurance	34,365	22,799	9,456
Commercial Auto Liability | 2020 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	0
Total IBNR	(7)
Impact of LPT/ADC	0
Cumulative paid loss and LAE, net of reinsurance	7	7
European Hospital Liability | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	623,500
Total IBNR	37,422
Impact of LPT/ADC	0
Cumulative paid loss and LAE, net of reinsurance	414,289
Reserve for loss and LAE	209,211
Total net reserves including impact of ADC	209,211
European Hospital Liability | 2011 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	64,135	63,362	63,077		60,789	63,398	65,382	47,483	49,918	36,130	23,340
Total IBNR	(2,958)
Cumulative paid loss and LAE, net of reinsurance	57,204	54,217	49,634		45,829	41,611	35,966	28,946	23,663	12,895	4,370
European Hospital Liability | 2012 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	120,978	119,502	118,559		113,658	87,946	92,881	103,830	80,974	81,767	80,228
Total IBNR	2,673
Cumulative paid loss and LAE, net of reinsurance	98,918	93,821	83,713		77,552	69,477	58,922	45,830	35,187	15,461	4,836
European Hospital Liability | 2013 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	108,415	106,763	105,355		99,463	77,599	84,867	64,600	61,927	49,292
Total IBNR	4,327
Cumulative paid loss and LAE, net of reinsurance	82,089	76,488	63,189		55,895	49,876	39,676	26,004	15,114	3,005
European Hospital Liability | 2014 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	88,875	87,509	86,454		81,154	64,360	57,842	54,001	51,283
Total IBNR	6,729
Cumulative paid loss and LAE, net of reinsurance	61,616	58,632	46,649		39,547	35,244	24,762	11,913	4,229
European Hospital Liability | 2015 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	72,202	69,862	69,622		66,451	60,438	46,419	47,811
Total IBNR	6,349
Cumulative paid loss and LAE, net of reinsurance	45,598	46,094	35,141		29,262	22,928	11,106	3,492
European Hospital Liability | 2016 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	69,830	68,467	69,999		67,448	51,533	44,764
Total IBNR	8,557
Cumulative paid loss and LAE, net of reinsurance	37,642	35,019	23,593		17,737	10,705	3,604
European Hospital Liability | 2017 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	51,176	53,189	54,648		52,506	41,210
Total IBNR	6,566
Cumulative paid loss and LAE, net of reinsurance	20,363	14,774	7,612		4,441	1,286
European Hospital Liability | 2018 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	32,112	32,759	31,818		44,861
Total IBNR	796
Cumulative paid loss and LAE, net of reinsurance	7,816	5,432	2,280		926
European Hospital Liability | 2019 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	15,777	14,796	15,984
Total IBNR	4,383
Cumulative paid loss and LAE, net of reinsurance	3,043	1,611	11,531
All other lines | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	489,999
Total IBNR	6,340
Impact of LPT/ADC	1,420
Cumulative paid loss and LAE, net of reinsurance	479,262
All outstanding liabilities prior to 2008, net of reinsurance	(2)
Reserve for loss and LAE	10,735
Total net reserves including impact of ADC	9,315
All other lines | 2008 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	24,016	24,045	29,519		29,574	29,576	29,070	29,237	29,149	28,715	28,724
Total IBNR	(4,928)
Impact of LPT/ADC	0
Cumulative paid loss and LAE, net of reinsurance	28,850	24,706	29,234		30,683	30,833	29,177	29,388	31,217	29,900	29,710
All other lines | 2009 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	15,373	15,750	14,617		15,653	16,088	14,492	14,309	13,329	11,959	20,349
Total IBNR	373
Impact of LPT/ADC	0
Cumulative paid loss and LAE, net of reinsurance	14,986	14,954	14,009		15,051	15,224	13,870	13,105	11,093	8,743	8,084
All other lines | 2010 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	15,905	15,905	15,438		17,059	17,071	16,105	16,078	15,484	24,718	15,182
Total IBNR	52
Impact of LPT/ADC	0
Cumulative paid loss and LAE, net of reinsurance	15,854	15,853	15,285		16,786	16,919	16,058	15,748	15,375	13,012	12,332
All other lines | 2011 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	21,500	21,515	21,469		23,506	23,376	22,616	22,359	27,509	26,343	19,948
Total IBNR	151
Impact of LPT/ADC	0
Cumulative paid loss and LAE, net of reinsurance	21,339	21,343	21,481		23,661	23,892	22,715	22,044	21,279	17,571	16,424
All other lines | 2012 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	17,811	17,969	19,578		20,260	19,850	18,673	21,898	19,426	18,443	14,697
Total IBNR	(275)
Impact of LPT/ADC	152
Cumulative paid loss and LAE, net of reinsurance	18,077	18,071	17,559		18,685	18,205	17,946	16,936	16,033	14,031	$ 10,308
All other lines | 2013 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	20,639	20,644	21,735		21,669	21,313	22,918	28,058	17,630	17,806
Total IBNR	1,174
Impact of LPT/ADC	247
Cumulative paid loss and LAE, net of reinsurance	19,465	20,146	19,343		20,447	20,456	20,258	17,509	15,997	$ 11,877
All other lines | 2014 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	21,491	21,496	24,929		26,278	24,958	26,021	25,268	20,597
Total IBNR	(2)
Impact of LPT/ADC	122
Cumulative paid loss and LAE, net of reinsurance	21,493	21,497	21,405		26,194	22,018	20,940	20,277	$ 12,028
All other lines | 2015 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	44,749	44,939	47,882		49,463	49,631	54,857	52,706
Total IBNR	678
Impact of LPT/ADC	50
Cumulative paid loss and LAE, net of reinsurance	43,895	43,622	44,179		41,962	42,631	45,208	$ 28,929
All other lines | 2016 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	66,944	67,060	73,602		72,384	74,948	79,654
Total IBNR	6,631
Impact of LPT/ADC	111
Cumulative paid loss and LAE, net of reinsurance	60,008	63,450	63,234		65,452	69,805	$ 42,795
All other lines | 2017 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	96,104	96,196	92,904		96,812	104,637
Total IBNR	1,636
Impact of LPT/ADC	247
Cumulative paid loss and LAE, net of reinsurance	93,541	93,212	80,735		80,726	$ 48,903
All other lines | 2018 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	101,913	101,553	103,489		96,910
Total IBNR	(1,607)
Impact of LPT/ADC	491
Cumulative paid loss and LAE, net of reinsurance	101,158	98,386	86,455		$ 56,539
All other lines | 2019 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	43,554	43,146	37,945
Total IBNR	2,560
Impact of LPT/ADC	0
Cumulative paid loss and LAE, net of reinsurance	40,427	38,793	$ 22,095
All other lines | 2020 | AmTrust Reinsurance
Claims Development [Line Items]
Incurred loss and LAE, net of reinsurance	0
Total IBNR	(103)
Impact of LPT/ADC	0
Cumulative paid loss and LAE, net of reinsurance	103	$ 4
All other lines | 2021 | AmTrust Reinsurance
Claims Development [Line Items]
Cumulative paid loss and LAE, net of reinsurance	$ 66

Reserve for Loss and Loss Adj_7

Reserve for Loss and Loss Adjustment Expenses - Reconciliation of claim development to reserve for loss and LAE (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Jul. 31, 2019	Nov. 30, 2010
Other
Total net reserves including impact of ADC	$ 926,528
Reinsurance Recoverables on unpaid claims	562,845	$ 592,571
Total Gross Reserves	1,489,373	1,893,299	$ 2,439,907
Diversified Reinsurance
Other
Total net reserves including impact of ADC					$ 98,827
AmTrust Reinsurance
Other
Reinsurance Recoverables on unpaid claims				$ 445,000
Other Segment
Other
Total net reserves including impact of ADC	0
Reinsurance Recoverables on unpaid claims	69,006
Total Gross Reserves	69,006
Operating Segments
Other
Reinsurance Recoverables on unpaid claims	493,839	524,599
Operating Segments | Diversified Reinsurance
Other
Total net reserves including impact of ADC	79,119
Reinsurance Recoverables on unpaid claims	2,979	4,658
Total Gross Reserves	82,098
Operating Segments | AmTrust Reinsurance
Other
Total net reserves including impact of ADC	847,409
Reinsurance Recoverables on unpaid claims	490,860	519,941
Total Gross Reserves	1,338,269
International | Diversified Reinsurance
Other
Total net reserves including impact of ADC	41,226
Reinsurance Recoverables on unpaid claims	2,979
Total Gross Reserves	44,205
European Capital Solutions | Diversified Reinsurance
Other
Total net reserves including impact of ADC	20,151
Reinsurance Recoverables on unpaid claims	0
Total Gross Reserves	20,151
Workers' Compensation | AmTrust Reinsurance
Other
Total net reserves including impact of ADC	92,983
Reinsurance Recoverables on unpaid claims	375,185
Total Gross Reserves	468,168
General Liability | AmTrust Reinsurance
Other
Total net reserves including impact of ADC	204,090
Reinsurance Recoverables on unpaid claims	75,849
Total Gross Reserves	279,939
Commercial Auto Liability | AmTrust Reinsurance
Other
Total net reserves including impact of ADC	185,414
Reinsurance Recoverables on unpaid claims	14,356
Total Gross Reserves	199,770
European Hospital Liability | AmTrust Reinsurance
Other
Total net reserves including impact of ADC	209,211
Reinsurance Recoverables on unpaid claims	0
Total Gross Reserves	209,211
All other lines | AmTrust Reinsurance
Other
Total net reserves including impact of ADC	9,315
Reinsurance Recoverables on unpaid claims	1,420
Total Gross Reserves	10,735
Total | AmTrust Reinsurance
Other
Total net reserves including impact of ADC	701,013
Reinsurance Recoverables on unpaid claims	466,810
Total Gross Reserves	1,167,823
Other reconciling items | Diversified Reinsurance
Other
Total net reserves including impact of ADC	17,742
Reinsurance Recoverables on unpaid claims	0	$ 67,972
Total Gross Reserves	17,742
Other reconciling items | AmTrust Reinsurance
Other
Total net reserves including impact of ADC	146,396
Reinsurance Recoverables on unpaid claims	24,050
Total Gross Reserves	$ 170,446

Reserve for Loss and Loss Adj_8

Reserve for Loss and Loss Adjustment Expenses - Historical average annual payout (Details)	Dec. 31, 2021
International | Diversified Reinsurance
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Year 1	49.70%
Year 2	38.20%
Year 3	5.30%
Year 4	2.80%
Year 5	0.80%
Year 6	(0.60%)
Year 7	(0.50%)
Year 8	(0.50%)
Year 9	(0.70%)
Year 10	1.60%
European Capital Solutions | Diversified Reinsurance
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Year 1	5.40%
Year 2	15.10%
Year 3	15.60%
Year 4	20.60%
Year 5	8.20%
Year 6	8.70%
Year 7	0.00%
Year 8	0.00%
Year 9	0.00%
Year 10	0.00%
Workers' Compensation | AmTrust Reinsurance
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Year 1	18.70%
Year 2	31.70%
Year 3	17.90%
Year 4	8.60%
Year 5	5.20%
Year 6	4.10%
Year 7	3.20%
Year 8	2.60%
Year 9	1.70%
Year 10	1.80%
General Liability | AmTrust Reinsurance
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Year 1	6.10%
Year 2	10.80%
Year 3	13.60%
Year 4	16.40%
Year 5	13.90%
Year 6	9.50%
Year 7	6.40%
Year 8	5.70%
Year 9	2.10%
Year 10	4.10%
Commercial Auto Liability | AmTrust Reinsurance
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Year 1	12.20%
Year 2	18.10%
Year 3	19.30%
Year 4	18.70%
Year 5	13.40%
Year 6	6.70%
Year 7	3.00%
Year 8	0.30%
Year 9	0.50%
Year 10	0.50%
European Hospital Liability | AmTrust Reinsurance
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Year 1	3.60%
Year 2	7.90%
Year 3	11.70%
Year 4	11.60%
Year 5	11.30%
Year 6	9.70%
Year 7	7.40%
Year 8	6.90%
Year 9	6.80%
Year 10	6.30%
All other lines | AmTrust Reinsurance
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Year 1	56.90%
Year 2	32.30%
Year 3	2.80%
Year 4	5.30%
Year 5	3.10%
Year 6	(4.10%)
Year 7	0.70%
Year 8	(0.70%)
Year 9	(3.90%)
Year 10	(0.30%)

Related Party Transactions - Na

Related Party Transactions - Narrative (Details) $ in Thousands

Mar. 16, 2020

Aug. 31, 2019USD ($)

Aug. 12, 2019USD ($)

Jul. 31, 2019USD ($)

Jan. 11, 2019USD ($)

Dec. 31, 2018USD ($)

Jul. 01, 2018

Jan. 01, 2018

Jul. 01, 2016

Jul. 01, 2013

Jan. 01, 2012EUR (€)

Apr. 01, 2011EUR (€)

Jun. 11, 2008

Jul. 01, 2007

Jun. 30, 2019USD ($)

Aug. 12, 2019

Jul. 31, 2019USD ($)

Dec. 31, 2021USD ($)

Dec. 31, 2020USD ($)

Dec. 31, 2014

Related Party Transaction [Line Items]

Loan to related party

$ 167,975

$ 167,975

Investment income

34,361

57,598

Interest income from loan to related party

Related Party Transaction [Line Items]

Investment income

$ 3,492

$ 3,996

Effective yield

2.10%

2.40%

AmTrust Financial Services, Inc.

Related Party Transaction [Line Items]

Loan to related party

$ 167,975

$ 167,975

AmTrust Financial Services, Inc. | London Interbank Offered Rate (LIBOR)

Related Party Transaction [Line Items]

Loan to related party, basis spread on fed funds

2.00%

AmTrust Financial Services, Inc. | AmTrust Quota Share

Related Party Transaction [Line Items]

Percent of premiums written, net of cost of unaffiliated inuring reinsurance from related party

40.00%

Percent of losses with respect to current lines of business, excluding those above covered business threshold to related party

40.00%

40.00%

Commission rate, percent of ceded written premiums

20.00%

34.375%

31.00%

AmTrust Financial Services, Inc. | AmTrust Quota Share | Post-Termination Endorsement, Maximum Loss Corridor

Related Party Transaction [Line Items]

Related party transaction amount

$ 40,500

42,710

AmTrust Financial Services, Inc. | AmTrust Quota Share | AmTrust Quota Shares Reinsurance Agreement, Partial Termination Amendment

Related Party Transaction [Line Items]

Percentage increase of ceding commission payable

5.00%

AmTrust Financial Services, Inc. | AmTrust Quota Share | Returned Gross Unearned Premiums

Related Party Transaction [Line Items]

Related party transaction amount

$ 647,980

AmTrust Financial Services, Inc. | AmTrust Quota Share | Returned Unearned Premiums

Related Party Transaction [Line Items]

Related party transaction amount

$ 436,760

AmTrust Financial Services, Inc. | AmTrust Quota Share | Commutation And Release Agreement, Commutation Payment

Related Party Transaction [Line Items]

Related party transaction amount

$ 312,786

AmTrust Financial Services, Inc. | AmTrust Quota Share | Commutation And Release Agreement, Net Ceded Reserves

Related Party Transaction [Line Items]

Related party transaction amount

$ 330,682

AmTrust Financial Services, Inc. | AmTrust Quota Share | Commutation And Release Agreement, Commutation Payment Paid By Entity

Related Party Transaction [Line Items]

Related party transaction amount

$ 17,896

AmTrust Financial Services, Inc. | AmTrust Quota Share | Commutation And Release Agreement, Commutation Payment, Premium Interest

Related Party Transaction [Line Items]

Related party interest expense

$ 6,335

Related party rate

3.30%

AmTrust Financial Services, Inc. | AmTrust Quota Share | Income on funds withheld

Related Party Transaction [Line Items]

Related party transaction amount

$ 575,000

$ 575,000

$ 575,000

Related party rate

1.80%

2.65%

Accrued interest on collateral held by related party

$ 2,609

$ 3,845

Interest Income on the funds

$ 10,350

15,297

AmTrust Financial Services, Inc. | AmTrust Quota Share | Post-Termination Endorsement

Related Party Transaction [Line Items]

Percentage of required funding on obligations

105.00%

AmTrust Financial Services, Inc. | AmTrust Quota Share | Post-Termination Endorsement, Minimum Excess Funding Requirement

Related Party Transaction [Line Items]

Related party transaction amount

$ 54,000

AmTrust Financial Services, Inc. | AmTrust Quota Share | Post-Termination Endorsement No. 2

Related Party Transaction [Line Items]

Percentage of required funding on obligations

110.00%

AmTrust Financial Services, Inc. | AmTrust Quota Share | Minimum

Related Party Transaction [Line Items]

Commission rate, adjustment criteria, loss ratio floor

81.50%

AmTrust Financial Services, Inc. | AmTrust Quota Share | Maximum

Related Party Transaction [Line Items]

Commission rate, adjustment criteria, loss ratio ceiling

95.00%

AmTrust Financial Services, Inc. | AmTrust Quota Share | Maximum | Post-Termination Endorsement

Related Party Transaction [Line Items]

Percentage of required funding on obligations

110.00%

AmTrust Financial Services, Inc. | European Hospital Liability Quota Share Agreement

Related Party Transaction [Line Items]

Commission rate, percent of ceded written premiums

5.00%

Premiums and losses related to policies

32.50%

40.00%

Maximum limit of liability attaching (in euros) | €

€ 10,000,000

€ 5,000,000

Percent basis currency equivalent of maximum limit of liability attaching

100.00%

Future premiums and losses related to policies

20.00%

AmTrust Financial Services, Inc. | European Hospital Liability Quota Share Agreement | Maximum | Post-Termination Endorsement No. 1

Related Party Transaction [Line Items]

Percentage of required funding on obligations

120.00%

Solvency ratio

100.00%

Collateral on exposure

100.00%

AmTrust Financial Services, Inc. | Reinsurer Trust Assets Collateral Agreement

Related Party Transaction [Line Items]

Collateral held by related party

$ 246,874

666,879

Accrued interest on collateral held by related party

1,171

3,048

AmTrust Financial Services, Inc. | Reinsurance Brokerage Agreements

Related Party Transaction [Line Items]

Brokerage fee, percent of premium assumed

1.25%

AmTrust Financial Services, Inc. | Reinsurance Brokerage Agreements | Brokerage expense

Related Party Transaction [Line Items]

Expenses recorded from related party transactions

316

725

Balances due to subsidiaries

1,147

1,534

AmTrust Financial Services, Inc. | Asset Management Agreement

Related Party Transaction [Line Items]

Quarterly brokerage fee percentage

0.02125%

Cancellation notice period

30 days

AmTrust Financial Services, Inc. | Asset Management Agreement | Investment Management Fee

Related Party Transaction [Line Items]

Expenses recorded from related party transactions

846

1,369

AEL | AmTrust European Hospital Liability Quota Share Agreement

Related Party Transaction [Line Items]

Collateral held by related party

244,488

318,063

Accrued interest on collateral held by related party

1,273

2,283

AmTrust International Underwriters DAC | AmTrust European Hospital Liability Quota Share Agreement | Collateral Provided For Share Under Quota Share Agreement

Related Party Transaction [Line Items]

Related party transaction amount

$ 26,460

28,093

Related party rate

0.50%

Interest Income on the funds

$ 147

350

AmTrust International Underwriters DAC | AmTrust European Hospital Liability Quota Share Agreement | Accrued Interest On Collateral Provided For Share Under Quota Share Agreement

Related Party Transaction [Line Items]

Related party transaction amount

141

318

Risk Services - Vermont, Inc. | Insurance Management Services Agreement

Related Party Transaction [Line Items]

Cancellation notice period

3 months

Initial term of agreement

3 years

Renewal term

3 years

Risk Services - Vermont, Inc. | Insurance Management Services Agreement, Initial Retainer

Related Party Transaction [Line Items]

Expenses recorded from related party transactions

$ 100

100

Risk Services - Vermont, Inc. | Insurance Management Services Agreement, Fees

Related Party Transaction [Line Items]

Expenses recorded from related party transactions

$ 100

100

Affiliated Entity | Limited Partnership Agreement | 683 Capital Management, LLC

Related Party Transaction [Line Items]

Related party transaction amount

$ 32,929

$ 29,435

Maiden Holdings, Ltd. | Leah Karfunkel

Related Party Transaction [Line Items]

Noncontrolling interest, ownership percentage

7.80%

Maiden Holdings, Ltd. | Barry Zyskind

Related Party Transaction [Line Items]

Noncontrolling interest, ownership percentage

7.30%

Maiden Holdings, Ltd. | George Karfunkel, less than

Related Party Transaction [Line Items]

Noncontrolling interest, ownership percentage

5.00%

Maiden Holdings, Ltd. | Affiliated Entity | 683 Capital Partners, LP

Related Party Transaction [Line Items]

Noncontrolling interest, ownership percentage

6.80%

AmTrust Financial Services, Inc. | Founding shareholders

Related Party Transaction [Line Items]

Controlling interest, ownership percentage

53.20%

Related Party Transactions - Am

Related Party Transactions - AmTrust Quota Share Agreements (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Related Party Transaction [Line Items]
Net premiums earned	$ 52,993	$ 106,081
Net loss and LAE	(7,307)	(41,799)
Commission and other acquisition expenses	(24,840)	(38,796)
Quota Share Reinsurance Agreements | AmTrust Financial Services, Inc.
Related Party Transaction [Line Items]
Gross and net premiums written	(5,695)	(9,068)
Net premiums earned	25,312	57,992
Net loss and LAE	(3,438)	(17,031)
Commission and other acquisition expenses	$ (9,747)	$ (20,321)

Commitments, Contingencies an_2

Commitments, Contingencies and Guarantees - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Loss Contingencies [Line Items]
Premiums earned	$ 52,993	$ 106,081
Letters of credit outstanding	$ 53,566	67,386
Operating lease, weighted average discount rate	10.00%
Operating lease liability	$ 473	1,638
Operating lease, right-of-use asset	$ 473	$ 1,638
Operating Lease, Liability, Statement of Financial Position [Extensible List]	Accrued expenses and other liabilities (includes $29,408 and $35,719 from related parties in 2021 and 2020, respectively)	Accrued expenses and other liabilities (includes $29,408 and $35,719 from related parties in 2021 and 2020, respectively)
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other assets	Other assets
Operating lease, weighted average remaining lease term	2 years 9 months 18 days
Remaining unfunded commitments	$ 60,677	$ 63,313
Guarantees provided to lenders on behalf of real estate joint venture	33,305
Other investments
Loss Contingencies [Line Items]
Remaining unfunded commitments	95,677
Equity Method Investments
Loss Contingencies [Line Items]
Remaining unfunded commitments	25,950
Letter of credit
Loss Contingencies [Line Items]
Collateral	$ 72,823	$ 83,041
Segment concentration risk | Gross premiums written | AmTrust Reinsurance
Loss Contingencies [Line Items]
Concentration risk, percentage	47.80%	54.70%
AmTrust Financial Services, Inc. | Quota Share Reinsurance Agreements
Loss Contingencies [Line Items]
Premiums earned	$ 25,312	$ 57,992

Earnings per Common Share (Deta

Earnings per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Numerator:
Net income	$ 26,645	$ 41,762
Gain from repurchase of preference shares – Series A, C and D	90,998	38,195
Amount allocated to participating common shareholders	(1,021)	(1,386)
Net income available to Maiden common shareholders, basic	116,622	78,571
Net income available to Maiden common shareholders, diluted	$ 116,622	$ 78,571
Denominator:
Weighted average number of common shares - basic (in shares)	86,068,278	84,333,514
Potentially dilutive securities:
Share options and restricted share units (in shares)	4,389	141
Adjusted weighted average number of common shares - diluted (in shares)	86,072,667	84,333,655
Basic earnings per share attributable to common shareholders (in dollars per share)	$ 1.35	$ 0.93
Diluted earnings per share attributable to common shareholders (in dollars per share)	$ 1.35	$ 0.93

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Mar. 16, 2020
Operating Loss Carryforwards [Line Items]
Unrecognized tax benefits	$ 0	$ 0
Bermuda tax rate	0.00%	0.00%
Net deferred tax asset	$ 840,000	$ 632,000
Deferred tax assets, re-domestication			$ 63,421,000
Increase in deferred tax liabilities, re-domestication			$ 16,120,000
(Decrease) increase in valuation allowance	(6,337,000)	40,845,000
Capital loss carryforwards	13,483,000	20,161,000
U.S.
Operating Loss Carryforwards [Line Items]
Net operating loss carry-forward	$ 230,220,000	$ 210,756,000

Income Taxes - Income before Ta

Income Taxes - Income before Taxes and Income Tax Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Loss before income taxes – Domestic (Bermuda)	$ (23,345)	$ (9,648)
Income before income taxes – Foreign (U.S. and others)	50,005	51,306
Income before income taxes and interest in income of equity method investments	26,660	41,658
Current tax expense – Domestic (Bermuda)	0	0
Current tax expense – Foreign (U.S. and others)	244	155
Total current tax expense	244	155
Deferred tax expense – Domestic (Bermuda)	0	0
Deferred tax benefit – Foreign (U.S. and others)	(229)	(259)
Total deferred tax benefit	(229)	(259)
Total income tax expense (benefit)	$ 15	$ (104)

Income Taxes - Tax Rate Reconci

Income Taxes - Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income before income taxes	$ 26,660	$ 41,658
Less: income tax expense (benefit)	15	(104)
Net income	$ 26,645	$ 41,762
Reconciliation of effective tax rate (% of income before income taxes)
Bermuda tax rate	0.00%	0.00%
U.S. taxes at statutory rates	24.30%	19.20%
Re-domestication of Maiden Reinsurance to the U.S.	0.00%	(117.30%)
Valuation allowance in respect of U.S. taxes	(22.30%)	98.10%
Other jurisdictions	(1.90%)	(0.30%)
Actual tax rate	0.10%	(0.30%)

Income Taxes - Deferred Tax Ass

Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Deferred tax assets:
Net operating losses	$ 48,346	$ 44,259
Unearned premiums	4,202	6,017
Capital loss carry-forward	2,831	4,234
Net unrealized losses on investments	2,236	0
Discounting of net loss and LAE reserves	30,423	37,568
Interest limitation	11	0
Deferred gain on retroactive reinsurance	10,282	23,719
Others	840	776
Deferred tax assets before valuation allowance	99,171	116,573
Valuation allowance	90,077	96,414
Deferred tax assets, net	9,094	20,159
Deferred tax liabilities:
Deferred commission and other acquisition expenses	8,201	11,327
Net unrealized gains on investment	0	8,197
Others	53	3
Deferred tax liabilities	8,254	19,527
Net deferred tax asset	$ 840	$ 632

Share Compensation and Pensio_3

Share Compensation and Pension Plans - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Jan. 20, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares reserved for issuance under the plan (in shares)	10,000,000
Weighted average grant date fair value (in dollars per share)	$ 2.13	$ 2.23
Exercise of options (in shares)	0	0
Share-based expense	$ 4,771	$ 2,445
Defined contribution plans expense	$ 764	782
2019 Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares reserved for issuance under the plan (in shares)			11,289,956
Share options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee service period	4 years
Expiration period	10 years
Unrecognized compensation cost related to non-vested share-based compensation arrangements	$ 1	$ 9
Period of recognition	1 year 14 days
Non-Performance-Based Restricted Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	1 year
Compensation value issued to directors, in form of equity or cash	$ 65
Awards granted (in shares)	238,750	333,330
Fair value of units vested	$ 1,442	$ 1,136
Awards vested (in shares)	1,178,522	908,857
Discretionary Performance-Based Restricted Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	2 years
Awards granted (in shares)	1,322,410	982,974
Fair value of units vested	$ 3,623	$ 700
Awards vested (in shares)	1,322,410	744,680
Restricted Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost related to non-vested share-based compensation arrangements	$ 511
Period of recognition	1 year
Vesting on first anniversary of grant date | Share options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	25.00%
Vesting on each quarter following first anniversary | Share options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	6.25%
Employee | Minimum | RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	0 years
Employee | Maximum | RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Director | RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	1 year

Share Compensation and Pensio_4

Share Compensation and Pension Plans - Summary of Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Number of Share Options
Outstanding, beginning of period (in shares)	264,500	484,129
Expired (in shares)	(49,500)	(213,379)
Forfeited (in shares)		(6,250)
Outstanding, end of period (in shares)	215,000	264,500	484,129
Weighted Average Exercise Price
Outstanding, beginning of period (in dollars per share)	$ 9.22	$ 8.44
Expired (in dollars per share)	10.57	7.50
Forfeited (in dollars per share)		7.20
Outstanding, end of period (in dollars per share)	$ 8.91	$ 9.22	$ 8.44
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Total options exercisable outstanding, Number of Share Options (in shares)	211,250
Total options exercisable outstanding, Weighted Average Exercise Price (in dollars per share)	$ 9.05
Weighted Average Remaining Contractual Term	4 years 3 months 10 days	4 years 8 months 19 days	3 years 7 months 17 days
Total options exercisable outstanding, Weighted Average Remaining Contractual Term	4 years 2 months 23 days
Options outstanding, Aggregate Intrinsic Value	$ 13	$ 0	$ 0
Total options exercisable outstanding, Aggregate Intrinsic Value	$ 7
Minimum
Weighted Average Exercise Price
Outstanding, beginning of period (in dollars per share)	$ 1.31	$ 1.31
Outstanding, end of period (in dollars per share)	1.31	1.31	$ 1.31
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Total options exercisable outstanding, Weighted Average Exercise Price (in dollars per share)	1.31
Maximum
Weighted Average Exercise Price
Outstanding, beginning of period (in dollars per share)	13.98	13.98
Outstanding, end of period (in dollars per share)	13.98	$ 13.98	$ 13.98
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Total options exercisable outstanding, Weighted Average Exercise Price (in dollars per share)	$ 13.98

Share Compensation and Pensio_5

Share Compensation and Pension Plans - Restricted Stock Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Non-Performance-Based Restricted Shares
Number of Restricted Units
Beginning balance, Non-vested (in shares)	1,243,270	1,818,797
Awards granted (in shares)	238,750	333,330
Awards vested (in shares)	(1,178,522)	(908,857)
Awards forfeited (in shares)	(54,166)	0
Ending balance, Non-vested (in shares)	249,332	1,243,270
Weighted Average Grant-Date Fair Value
Weighted average grant date fair value, beginning balance (in dollars per share)	$ 1.22	$ 1.24
Awards granted (in dollars per share)	3.44	1.20
Awards vested (in dollars per share)	1.22	1.25
Awards forfeited (in dollars per share)	1.20	0
Weighted average grant date fair value, ending balance (in dollars per share)	$ 3.35	$ 1.22
Discretionary Performance-Based Restricted Shares
Number of Restricted Units
Beginning balance, Non-vested (in shares)	238,294	0
Awards granted (in shares)	1,322,410	982,974
Awards vested (in shares)	(1,322,410)	(744,680)
Awards forfeited (in shares)	(200)	0
Ending balance, Non-vested (in shares)	238,094	238,294
Weighted Average Grant-Date Fair Value
Weighted average grant date fair value, beginning balance (in dollars per share)	$ 1.26	$ 0
Awards granted (in dollars per share)	2.74	1.02
Awards vested (in dollars per share)	2.74	0.94
Awards forfeited (in dollars per share)	1.26	0
Weighted average grant date fair value, ending balance (in dollars per share)	$ 1.26	$ 1.26

Statutory Requirements and Di_3

Statutory Requirements and Dividend Restrictions - Statutory Capital and Surplus and Statutory Net (Loss) Income of Principal Operating Subsidiaries (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Maiden Reinsurance
Statutory Accounting Practices [Line Items]
Statutory Capital and Surplus	$ 999,843	$ 972,350
Statutory Net Income (Loss)	36,309	52,707
Maiden LF
Statutory Accounting Practices [Line Items]
Statutory Capital and Surplus	8,250	9,944
Statutory Net Income (Loss)	(899)	(1,164)
Maiden GF
Statutory Accounting Practices [Line Items]
Statutory Capital and Surplus	9,972	10,663
Statutory Net Income (Loss)	$ (1,018)	$ 32

Statutory Requirements and Di_4

Statutory Requirements and Dividend Restrictions - Narrative (Details)	12 Months Ended
	Dec. 31, 2021USD ($)subsidiary	Dec. 31, 2020USD ($)
Maiden LF
Statutory Accounting Practices [Line Items]
Statutory capital and surplus	$ 8,250,000	$ 9,944,000
Maiden GF
Statutory Accounting Practices [Line Items]
Statutory capital and surplus	9,972,000	10,663,000
UNITED STATES | Maiden Reinsurance
Statutory Accounting Practices [Line Items]
Minimum solvency margin	$ 132,779,000
SWEDEN
Statutory Accounting Practices [Line Items]
Number of subsidiaries, domiciled insurance | subsidiary	2
SWEDEN | Maiden LF
Statutory Accounting Practices [Line Items]
Minimum solvency margin	$ 4,207,000	5,204,000
Statutory assets	16,819,000	19,705,000
Dividends	0	0
SWEDEN | Maiden GF
Statutory Accounting Practices [Line Items]
Minimum solvency margin	5,059,000	6,905,000
Statutory assets	15,297,000	13,832,000
Dividends	0	0
Dividends or distributions limit	$ 0	$ 311,000

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Thousands	2 Months Ended	3 Months Ended	12 Months Ended
	Mar. 14, 2022	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Jun. 15, 2017	Nov. 25, 2015
Subsequent Event [Line Items]
Shares redeemed (in shares)			9,404,012	2,827,595
Gain on repurchase of preference shares			$ 90,998	$ 38,195
Remaining shares authorized			$ 74,245	$ 74,245
Forecast
Subsequent Event [Line Items]
Gain on repurchase of preference shares		$ 3,263
Preference shares - Series C
Subsequent Event [Line Items]
Shares redeemed (in shares)			3,026,764	1,203,466
Redemption price for preference shares (in dollars per share)						$ 25
Preference shares - Series D
Subsequent Event [Line Items]
Shares redeemed (in shares)			2,858,155	1,078,911
Redemption price for preference shares (in dollars per share)					$ 25
Preferred Stock
Subsequent Event [Line Items]
Remaining shares authorized			$ 13,845
Subsequent Event
Subsequent Event [Line Items]
Payments for repurchase of redeemable preferred stock	$ 2,933
Subsequent Event | Preference shares - Series C
Subsequent Event [Line Items]
Shares redeemed (in shares)	170,633
Dividend rate of preference shares	7.125%
Redemption price for preference shares (in dollars per share)	$ 11.67
Subsequent Event | Preference shares - Series C | Maiden Reinsurance
Subsequent Event [Line Items]
Ownership of preference shares	66.70%
Subsequent Event | Preference shares - Series D
Subsequent Event [Line Items]
Shares redeemed (in shares)	85,828
Dividend rate of preference shares	6.70%
Redemption price for preference shares (in dollars per share)	$ 10.97
Subsequent Event | Preference shares - Series D | Maiden Reinsurance
Subsequent Event [Line Items]
Ownership of preference shares	67.00%
Subsequent Event | Preferred Stock
Subsequent Event [Line Items]
Remaining shares authorized	$ 10,911
Subsequent Event | Preference Shares - Series A | Maiden Reinsurance
Subsequent Event [Line Items]
Ownership of preference shares	67.70%