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Maiden Reports Rise In Q2, H1 Net Income

Net written premium for the quarter ended June 30, 2009 was $238.4 million

Maiden Holdings has reported Q2, 2009 net income of $16.3 million and net operating earnings of $14 million, as compared to net income and net operating earnings of $13.8 million for the three months ended June 30, 2008.

The company’s net written premium for the quarter ended June 30, 2009 was $238.4 million.

For the six months ended June 30, 2009, the company reported a net income of $29.4 million and net operating earnings of $30.8 million, compared to net income of $26.3 million and net operating earnings of $26.1 million for the six months ended June 30, 2008. Net written premium for the six months ended June 30, 2009 was $574.9 million.

The net written premium for the three months ended June 30, 2009, increased 39.2% to $238.3 million, as compared to $171.2 million for the three months ended June 30, 2008.

The net earned premium for the three months ended June 30, 2009 increased 189% to $223.8 million, as compared to $77.3 million for the three months ended June 30, 2008.

Maiden Holdings is a Bermuda holding company offering reinsurance products and services to regional and specialty insurance companies in the US and Europe.