HAMILTON, Bermuda, Oct. 8, 2009 (GLOBE NEWSWIRE) -- AmTrust Financial Services, Inc. (Nasdaq:AFSI) and Maiden Holdings, Ltd. (Nasdaq:MHLD) have agreed to extend their strategic quota share agreement through June 30, 2013. Under the terms of the existing 40% quota share reinsurance agreement between AmTrust International Insurance, Ltd. and Maiden Insurance Company, Ltd. effective July 1, 2007, unless either party terminates the agreement via written notice to the other party at least nine months prior, the agreement renews for another three years. By mutual agreement, AmTrust and Maiden have elected not to send notice by September 30, 2009 and, as a result, the agreement has been automatically renewed for another three year term.
AmTrust CEO Barry Zyskind said: "The strategic quota share with Maiden has provided valuable capital support to AmTrust. We look forward to the continued support of the Maiden team for years to come."
Art Raschbaum, CEO of Maiden, stated that: "We are very pleased to be continuing our mutually beneficial relationship with the AmTrust Group. Consistent with Maiden's business strategy, we are focused on continuing to deliver value as a capital provider to regional and specialty insurance companies."
About Maiden Holdings, Ltd.
Maiden Holdings, Ltd. is a Bermuda holding company formed in 2007 to offer customized reinsurance products and services to regional and specialty insurance companies in the United States and Europe.
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