Bermuda-based Maiden Holdings is set to sell Maiden Specialty Insurance Company, its inactive subsidiary, to Clear Blue Financial.
The transaction has no impact on the AM Best’s A- (positive outlook) financial strength ratings of Maiden, Maiden Reinsurance North America or Maiden Reinsurance.
However, the rating agency has placed the A- financial strength rating of the subsidiary, Maiden Specialty, under review with negative implications. Upon closing, Maiden Specialty will reinsure all liabilities to its immediate parent, Maiden Reinsurance North America.
Maiden Holdings, Maiden, Maiden Specialty Insurance Company, Bermuda, Clear Blue Financial, Mergers & Acquisitions, AM Best
