HAMILTON, Bermuda, Jan. 16, 2019 (GLOBE NEWSWIRE) — Maiden Holdings, Ltd. (NASDAQ: MHLD) (“Maiden” or “the Company”) today announced another step in its strategic review with the sale of AVS Automotive VersicherungsService GmbH (“AVS”) and related European subsidiaries to Allianz Partners (“Allianz”). Maiden’s proceeds from the sale include an undisclosed cash payment at closing and a three-year quota share reinsurance agreement with Allianz. Maiden’s AVS and AVS subsidiaries work with German and Austrian auto retailers, original equipment manufacturers and related credit providers to design and distribute auto dealer and consumer insurance products. All of Maiden’s AVS employees have joined Allianz and the company name will remain unchanged.
About Maiden Holdings, Ltd.
Maiden Holdings, Ltd. is a Bermuda-based holding company formed in 2007. The Company is focused on serving the needs of regional and specialty insurers in Europe and select other global markets by providing innovative reinsurance solutions designed to support their capital needs.
CONTACT:
Bill Horning, Senior Vice President, Investor Relations
Maiden Holdings, Ltd.
Phone: 856.359.2532
E-mail: bhorning@maiden.bm