Maiden Holdings (NASDAQ:MHLD), the Hamilton, Bermuda-based reinsurance holding company, reported a net loss of $17.8 million for the fourth quarter of 2025.
The results reflect the ongoing volatility associated with the company’s legacy portfolios and its transition toward a more diversified investment-focused strategy.
On a per-share basis, the quarterly loss amounted to $2.29.
When adjusted for non-recurring costs and accounting for discontinued operations, the loss narrowed to $1.06 per share.
The company generated total revenue of $10.2 million during the three-month period, while adjusted revenue—stripping out one-time gains and accounting shifts—was reported at $9.8 million.
Despite the quarterly downturn, the full-year picture remained positive for the reinsurer.
For the 2025 fiscal year, Maiden Holdings reported a net profit of $46.7 million, or $8.08 per share.
This annual performance was supported by a total revenue of $27.1 million, as the company benefited from favorable investment income and the continued run-off of its historical insurance liabilities.