Maiden Holdings (MHLD) Misses Q2 EPS by 5c

Maiden Holdings (NASDAQ: MHLD) reported Q2 EPS of $0.37, $0.05 worse than the analyst estimate of $0.42.

Commenting on the Company's results, Art Raschbaum, Chief Executive Officer of Maiden, said: "In the quarter, we benefited from significantly increased investment income, as we put a substantial portion of our first quarter cash balance to work, improved underwriting performance in our international IIS business and continued strength in the AmTrust segment. We continue to realize favorable revenue trends reflecting growth in the AmTrust segment influenced by organic growth and the Tower acquisition. In our Diversified segment, revenue in the quarter was negatively impacted by client M&A activity, but business development, particularly in our international areas is very strong. Newly won and developing accounts are expected to drive growth in the latter part of the year and into 2016. While the second quarter was impacted by adverse excess of loss commercial auto claims development, we believe that we have responded swiftly in taking appropriate actions from an underwriting, claims, and actuarial perspective. We remain confident in our ability to strengthen earnings and enhance returns while continuing to build our unique and highly differentiated business."

For earnings history and earnings-related data on Maiden Holdings (MHLD) click here.

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