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Maiden Holdings, Ltd. (MHLD)
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| Income Statement |
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Annual | Quarterly | TTM |
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| In millions, except per share items | Dec-31-22 | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 |
| | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K |
| Revenues: |
| AmTrust Reinsurance | 9.7 | 25.3 | 58.2 | 364.1 | 1,913.7 | 1,909.6 | 1,843.6 | 1,684.2 |
| Other | 52.1 | 59.9 | 116.3 | 84.3 | 390.3 | 325.4 | 384.0 | 401.9 |
| Diversified Reinsurance | 28.0 | 27.7 | 47.8 | 83.7 | 112.5 | 83.0 | 82.0 | 744.9 |
| Other | | | | 44.1 | | | | |
| Total revenues | 58.1 | 98.7 | 184.1 | 576.1 | 2,164.8 | 2,138.8 | 2,051.9 | 2,573.1 |
| Revenue growth | -41.1% | -46.4% | -68.0% | -73.4% | 1.2% | 4.2% | -20.3% | 8.1% |
| Loss and loss adjustment expenses | 58.0 | 7.3 | 41.8 | 452.8 | 1,880.1 | 1,555.4 | 1,289.5 | 1,633.6 |
| Policy acquisition costs | 18.5 | 24.8 | 38.8 | 169.8 | 654.7 | 643.8 | 615.5 | 724.2 |
| Investment expenses | 0.4 | 2.3 | 2.8 | 2.6 | 4.3 | 7.5 | 6.9 | 6.1 |
| Other operating expenses | 22.5 | 18.2 | 39.7 | 41.9 | 56.1 | 63.2 | 32.3 | 53.9 |
| General and administrative | 50.3 | 61.7 | 68.7 | 82.7 | 108.6 | 87.0 | 82.1 | 91.4 |
| Equity in earnings | -0.2 | 7.7 | 5.1 | | | | | |
| EBITDA | -41.4 | 54.2 | 69.7 | -83.1 | -424.4 | -122.8 | 120.3 | 165.1 |
| EBITDA margin | -71.2% | 54.9% | 37.8% | -14.4% | -19.6% | -5.7% | 5.9% | 6.4% |
| Depreciation | -0.1 | 8.2 | 8.7 | 7.8 | 6.2 | 8.4 | 12.6 | 6.9 |
| EBITA | -41.3 | 46.0 | 61.0 | -91.0 | -430.5 | -131.1 | 107.6 | 158.2 |
| EBITA margin | -71.0% | 46.6% | 33.1% | -15.8% | -19.9% | -6.1% | 5.2% | 6.1% |
| Amortization of intangibles | | | | | | | | 2.8 |
| EBIT | -41.3 | 46.0 | 61.0 | -91.0 | -430.5 | -131.1 | 107.6 | 155.4 |
| EBIT margin | -71.0% | 46.6% | 33.1% | -15.8% | -19.9% | -6.1% | 5.2% | 6.0% |
| Interest income, net [+] | 19.3 | 19.3 | 19.3 | 19.3 | 19.3 | 23.3 | 28.2 | 29.1 |
| Interest expense | 19.3 | 19.3 | 19.3 | 19.3 | 19.3 | 23.3 | 28.2 | 29.1 |
| Interest income | 38.7 | 38.7 | 38.6 | 38.6 | 38.6 | 46.5 | 56.3 | 58.1 |
| Pre-tax income | -60.6 | 26.7 | 41.7 | -110.3 | -449.9 | -154.4 | 79.5 | 126.3 |
| Income taxes | -0.6 | 0.0 | -0.1 | -0.9 | 0.4 | -6.8 | 0.4 | 2.0 |
| Tax rate | 0.9% | 0.1% | | 0.8% | | 4.4% | 0.5% | 1.6% |
| Minority interest | | | | | 0.2 | 0.2 | -0.8 | -0.2 |
| Earnings from continuing ops | 55.4 | 117.6 | 80.0 | -109.4 | -476.1 | -177.0 | 46.1 | 100.1 |
| Earnings from discontinued ops | | | | -22.5 | -94.1 | -22.1 | -30.9 | |
| Net income | 55.4 | 117.6 | 80.0 | -131.9 | -570.3 | -199.1 | 15.2 | 100.1 |
| Net margin | 95.4% | 119.2% | 43.4% | -22.9% | -26.3% | -9.3% | 0.7% | 3.9% |
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| Basic EPS | $0.64 | $1.37 | $0.95 | ($1.32) | ($5.73) | ($2.07) | $0.60 | $1.36 |
| Diluted EPS | $0.64 | $1.37 | $0.95 | ($1.32) | ($5.73) | ($2.07) | $0.59 | $1.17 |
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| Shares outstanding (basic) | 87.1 | 86.1 | 84.3 | 83.1 | 83.1 | 85.7 | 77.5 | 73.5 |
| Shares outstanding (diluted) | 87.1 | 86.1 | 84.3 | 83.1 | 83.1 | 85.7 | 78.7 | 85.6 |
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| EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
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