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Maiden Holdings North America, Ltd. (MHNC)

USD11.64 -0.01 (-0.04%)
US NYSE Financial Services Insurance - Life
Address 6000 Midlantic Drive, Suite 200 South 8054
Mount Laurel, NJ, US
IPO 2013-11-27
CIK 1412100 ISIN US56029Q4082

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Description

Maiden Holdings North America Ltd., a division of Maiden Holdings Ltd., specializes in offering reinsurance services. This privately owned enterprise operates out of the United States.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
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Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
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Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
Averages
Trend
Price
Levels
Draw
USD11.64 -0.01 (-0.04%)
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Volume Profile
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Liquidity & share structure
Average Volume
4.0K
Beta
0.40
Free Float %
0.0%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
-4.60% -5.11% -8.32% -17.22% -28.61% -21.20% -27.62% -28.86% -48.43% -54.38% -48.93%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From To
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Annual Monthly Returns
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Daily Returns Distribution
vs.
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Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Price Targets & DCF
Current price
11.64
DCF (Levered) 4.95 -57.4%

DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.

Quality scores
Altman Z-Score
-0.48
Distress
Piotroski F-Score
2 / 9
Weak
MOAT Score
2 / 10
No MOAT
Operational MOAT
✗ Below peers
  • Revenue growth Insurance - Life: +10.6%
    -2.9% Q1'25: -51.4% (vs Q1'24)
  • EPS growth Insurance - Life: +13.4%
    -414.1% Q1'25: -720.7% (vs Q1'24)
  • FCF margin FCF growth · Insurance - Life: +31.7%
    -36.0% Q1'25: -150.4% (vs Q1'24)
  • EBIT margin Insurance - Life: +12.4%
    -320.1% Q1'25: +0.0% (vs Q1'24)
  • ROIC Insurance - Life: +1.0%
    -1,727.4% Q1'25: +0.0% (vs Q1'24)
  • Share dilution Insurance - Life: +0.4%
    +14.6% Q1'25: -1.3% (vs Q1'24)
  • Debt / EBITDA Net debt/EBITDA · Insurance - Life: -1.05×
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
WACC components (optional)
Ke (Cost of Equity) = Rf + β (0.42) × ERP
WACC = 100% × Ke + 0% × Kd (4.1%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
Current price: 11.64
Enterprise Value: Equity Value: Terminal Value: TV as % of EV:

Base values reflect the latest available data for this company and market conditions.

Owner Earnings

Owner's Earnings (history)

Owner's Earnings history not available.

Owner alignment
Owner's Earnings TTM
OE per share TTM
Owner's Yield
Maintenance CapEx ratio
Maint CapEx / Avg PPE

Ownership Overview

Ownership breakdown
At a glance
Institutional holders
2
Total invested
23.7K
Insider transactions (90d)
0
Beneficial owners (>5%)
21
Beneficial owners (>5%)
# Reporting person Amount owned % of class Sole voting Shared voting Sole dispositive Shared dispositive Type Citizenship Filing date SEC filing
1 Maiden Holdings Ltd. 41.44M 29.00% 13.58M 11.00 HC, CO 2023-01-06
2 Maiden Holdings North America, Ltd. 41.44M 29.00% 13.58M 11.00 HC, CO 2023-01-06
3 Maiden Reinsurance Ltd. 41.44M 29.00% 13.58M 11.00 IC, CO 2023-01-06
4 Paul Richard Ray III 7.98M 9.23% 145.6K 7.98M HC, IN United States of America 2022-02-14
5 Brian Michael Phillips 7.84M 9.07% 8.8K 7.84M HC, IN United States of America 2022-02-14
6 Phillips Ray Capital Management, Inc. 7.83M 9.06% 7.83M IA, CO Texas 2022-02-14
7 Thomas Bruce Akin 7.32M 8.39% 7.32M 12.99M 7.32M 12.99M IN United States of America 2022-11-15
8 (1)Names of reporting persons. BlackRock, Inc. 5.93M 5.90% 5.93M HC Delaware 2024-10-24
9 BlackRock, Inc. 5.93M 5.90% 5.84M 5.93M HC Delaware 2024-11-08
10 91-1804621 4.61M 5.29% 4.61M 4.61M PN United States of America 2022-11-15
11 683 Capital GP, LLC 4.42M 5.08% 4.42M OO Delaware 2022-07-18
12 683 Capital Management, LLC 4.42M 5.08% 4.42M IA Delaware 2022-07-18
13 683 Capital Partners, LP 4.42M 5.08% 4.42M PN Delaware 2022-07-18
14 Ari Zweiman 4.42M 5.08% 4.42M IN Delaware 2022-07-18
15 CATALINA HOLDINGS (BERMUDA) LTD. 4.24M 4.93% 4.24M 4.24M CO 2020-08-14
16 30-0447847 4.09M 4.80% 3.90M 4.09M IA Delaware Limited Partnership 2021-02-12
17 68-0393122 676.0K 0.78% 676.0K 676.0K EP United States of America 2022-11-15
18 Blair Spencer Akin 177.5K 0.20% 177.5K 177.5K IN United States of America 2022-11-15
19 81-4714847 100.0K 0.11% 100.0K 100.0K EP United States of America 2022-11-15
20 James H. Akin Trust 85.0K 0.10% 85.0K 85.0K IN United States of America 2022-11-15
21 Karen Hochster Akin 25.0K 0.03% 25.0K 25.0K IN United States of America 2022-11-15

Institutional Activity (13F)

Institutional ownership trend From To
13F snapshot — 2026 Q1
Investors holding
2
+2 vs prev Q
New positions
2
Closed positions
0
Increased
2
Reduced
0
Put/Call ratio
0.00
Calls held
Puts held
Top institutional holders
# Investor Shares / Δ Mkt value / Δ Own% / Δ Weight% / Δ Avg px / Perf. Hold / Status
1 MAIN STREET GROUP, LTD -413.0 (-100.0%) -7.2K (-100.0%) 0.00% 0.000 pp 0.00% -0.002 pp USD 8 qtrs SOLD
2 RMG WEALTH MANAGEMENT LLC -1.4K (-100.0%) -24.8K (-100.0%) 0.00% -0.001 pp 0.00% -0.004 pp USD 3 qtrs SOLD
Ownership breakdown by holder

ETF Ownership

Top ETFs holding this stock Held by 2 ETFs in our universe
# ETF Weight Est. AUM exposure TER
1 iShares Preferred and Income Securities ETF PFF 0.03% 4.49M 0.45%
2 iShares Morningstar Multi-Asset Income ETF IYLD 0.00% 6.2K 0.50%

Insider Activity

Insider Activity — Latest Quarter
Ratio by transactions
0.00
Bearish
Ratio by volume
0.00
Bearish
Buys
0
Sells
1
Shares acquired
Shares disposed
277.0K
Cash buys
Cash sales
1.00
Net activity
-277,000
Insider buys vs sells (history) From To
Recent insider transactions From To
Date Person Role Transaction A/D Security Shares Price Value Owned after D/I Filing
2023-12-31 NEUBERGER YEHUDA Director S-Sale D Common Shares 277,000 2.29 634.3K 0
2023-09-26 Thomas Keith A Director S-Sale D Common Shares 26,315 1.90 50.0K 73,839
2023-06-01 Thomas Keith A Director A-Award A Restricted Common Shares 31,862 0.00 31,862
2023-06-01 NIGRO STEVEN HAROLD Director A-Award A Restricted Common Shares 36,764 0.00 36,764
2023-06-01 NEFF RAYMOND MICHAEL Director A-Award A Restricted Common Shares 31,862 0.00 31,862
2023-06-01 LYONS SIMCHA G Director A-Award A Restricted Common Shares 31,862 0.00 31,862
2023-06-01 Blanchard Holly Lynn Director A-Award A Restricted Common Shares 31,862 0.00 31,862
2023-05-17 Haveron Patrick J Officer A-Award A Common Shares 10,000 2.01 20.1K 2,165,803
2023-05-03 Heintzman Mark O Officer D Restricted Common Shares 0 0.00 65,217
2023-03-31 Jarman William Officer A-Award A Common Shares 43,859 0.00 131,074
2023-03-21 Jarman William Officer A-Award A Restricted Common Shares 76,086 0.00 198,376
2023-03-17 METZ LAWRENCE F. Officer A-Award A Common Shares 112,745 0.00 1,669,444
2023-03-17 Haveron Patrick J Officer A-Award A Common Shares 112,745 0.00 2,197,519
2022-12-27 NEFF RAYMOND MICHAEL Director A-Award A Common Shares 34,440 0.00 585,571
2022-12-27 Maiden Reinsurance Ltd Director D Common Shares 0 0.00 41,439,348
2008-11-01 Caviet Max G 0 0.00 0

Executive team

Top executives

Executive team data is not available for this company yet.

EBIT / Employee
-43.0K
Shares Outstanding
99.12M

Executive compensation

Executive compensation (annual)
# Year Executive Salary Bonus Stock award Option award Incentive Other Total % Stock-
based
Filing
1 2023 Patrick J. Haveron Chief Executive Officer and Chief Financial Officer 875.0K 789.3K 39.5K 1.70M 46.33%
2 2023 Lawrence F. Metz Executive Vice Chairman and Group President 725.0K 100.0K 649.3K 147.0K 1.62M 40.05%
3 2023 William T. Jarman Senior Vice President, Chief Actuary and Chief Risk Officer 437.6K 150.0K 175.0K 2.7K 765.3K 22.87%
4 2022 Patrick J. Haveron Co-Chief Executive Officer and Chief Financial Officer 725.0K 575.0K 924.0K 36.5K 2.26M 40.88%
5 2022 Patrick J. Haveron Chief Executive Officer and Chief Financial Officer 725.0K 575.0K 924.0K 36.5K 2.26M 40.88%
6 2022 Lawrence F. Metz President and Co-Chief Executive Officer 725.0K 575.0K 924.0K 32.1K 2.26M 40.95%
7 2022 Lawrence F. Metz Executive Vice Chairman and Group President 725.0K 575.0K 924.0K 32.1K 2.26M 40.95%
8 2022 William T. Jarman Senior Vice President, Chief Actuary and Chief Risk Officer 425.7K 185.0K 200.0K 14.3K 825.0K 24.24%
9 2021 Patrick J. Haveron Co-Chief Executive Officer and Chief Financial Officer 725.0K 575.0K 1.81M 32.4K 3.14M 57.62%
10 2021 Lawrence F. Metz President and Co-Chief Executive Officer 725.0K 575.0K 1.81M 31.7K 3.14M 57.64%
11 2021 William T. Jarman Senior Vice President, Chief Actuary and Chief Risk Officer 423.5K 204.0K 150.0K 13.2K 790.7K 18.97%
12 2020 Patrick J. Haveron Co-Chief Executive Officer and Chief Financial Officer, Maiden Holdings, Ltd. 725.0K 500.0K 350.0K 186.1K 1.76M 19.87%
13 2020 Patrick J. Haveron Co-Chief Executive Officer and Chief Financial Officer 725.0K 500.0K 350.0K 186.1K 1.76M 19.87%
14 2020 Lawrence F. Metz President and Co-Chief Executive Officer, Maiden Holdings, Ltd. 725.0K 500.0K 350.0K 107.5K 1.68M 20.80%
15 2020 Lawrence F. Metz President and Co-Chief Executive Officer 725.0K 500.0K 350.0K 107.5K 1.68M 20.80%
16 2020 William T. Jarman Senior Vice President, Chief Actuary and Chief Risk Officer 423.5K 170.0K 150.0K 86.8K 830.3K 18.07%
17 2020 William T. Jarman Senior Vice President, Chief Actuary and Chief Risk Officer, Maiden Global Servicing Company, LLC 423.5K 170.0K 150.0K 86.8K 830.3K 18.07%
18 2019 Patrick J. Haveron Co-Chief Executive Officer and Chief Financial Officer, Maiden Holdings, Ltd. 697.9K 100.0K 750.0K 334.4K 1.88M 39.84%
19 2019 Lawrence F. Metz President and Co-Chief Executive Officer, Maiden Holdings, Ltd. 725.0K 100.0K 500.0K 126.7K 1.45M 34.44%
20 2019 William T. Jarman Senior Vice President, Chief Actuary and Chief Risk Officer, Maiden Global Servicing Company, LLC 423.5K 100.0K 118.2K 641.7K 0.00%
21 2018 Karen L. Schmitt Former Executive Vice President - Finance and Chief Financial Officer, Maiden Holdings, Ltd. 600.0K 390.0K 2.31M 3.30M 11.80%
22 2018 Arturo M. Raschbaum Former President and Chief Executive Officer, Maiden Holdings, Ltd. 670.8K 250.0K 2.33M 3.25M 0.00%
23 2018 Lawrence F. Metz President and Chief Executive, Maiden Holdings, Ltd. 547.9K 250.0K 1.23M 22.2K 2.05M 60.02%
24 2018 Lawrence F. Metz President and Co-Chief Executive Officer, Maiden Holdings, Ltd. 547.9K 250.0K 1.23M 22.2K 2.05M 60.02%
25 2018 Patrick J. Haveron Chief Financial Officer & Chief Operating Officer, Maiden Holdings, Ltd. and President, Maiden Reinsurance Ltd. 543.6K 250.0K 666.0K 284.1K 1.74M 38.19%
26 2018 Patrick J. Haveron Co-Chief Executive Officer and Chief Financial Officer, Maiden Holdings, Ltd. 543.6K 250.0K 666.0K 284.1K 1.74M 38.19%
27 2018 William T. Jarman Senior Vice President, Chief Actuary and Chief Risk Officer, Maiden Global Servicing Company, LLC 417.1K 150.0K 169.4K 247.0K 983.6K 17.22%
28 2018 William T. Jarman Senior Vice President, Chief Actuary, Maiden Global Servicing Company, LLC 417.1K 150.0K 169.4K 247.0K 983.6K 17.22%
29 2018 Thomas H. Highet Former President, Maiden Reinsurance North America (formerly owned subsidiary) 309.4K 235.0K 11.4K 555.8K 42.28%
30 2018 Denis M. Butkovic Senior Vice President, General Counsel & Secretary Maiden Global Servicing Company, LLC 68.0K 25.0K 24.9K 117.9K 21.13%
31 2018 Michael C. Haines Senior Vice President, Finance Maiden Global Servicing Company, LLC 24.6K 24.6K 0.00%
32 2017 Karen L. Schmitt Chief Financial Officer 600.0K 390.0K 187.5K 329.2K 1.51M 25.88%
33 2017 Karen L. Schmitt Former Executive Vice President - Finance and Chief Financial Officer, Maiden Holdings, Ltd. 600.0K 390.0K 187.5K 329.2K 1.51M 25.88%
34 2017 Arturo M. Raschbaum Former President and Chief Executive Officer, Maiden Holdings, Ltd. 1.00M 250.0K 201.8K 1.45M 0.00%
35 2017 Arturo M. Raschbaum President and Chief Executive Officer 1.00M 250.0K 201.8K 1.45M 0.00%
36 2017 Patrick J. Haveron President, Maiden Reinsurance 501.6K 250.8K 117.6K 241.1K 1.11M 22.57%
37 2017 Patrick J. Haveron Chief Financial Officer & Chief Operating Officer, Maiden Holdings, Ltd. and President, Maiden Reinsurance Ltd. 501.6K 250.8K 117.6K 241.1K 1.11M 22.57%
38 2017 Lawrence F. Metz President and Chief Executive, Maiden Holdings, Ltd. 461.9K 231.0K 150.0K 14.5K 857.4K 26.94%
39 2017 Lawrence F. Metz Executive Vice President, General Counsel and Secretary 461.9K 231.0K 150.0K 14.5K 857.3K 26.94%
40 2017 William T. Jarman Senior Vice President, Chief Actuary, Maiden Global Servicing Company, LLC 379.3K 154.0K 72.2K 220.3K 825.8K 18.65%
41 2017 Thomas H. Highet Former President, Maiden Reinsurance North America (formerly owned subsidiary) 450.0K 225.0K 84.4K 12.4K 771.8K 29.15%
42 2017 Thomas H. Highet President, Maiden Reinsurance North America 450.0K 225.0K 84.4K 12.4K 771.8K 29.15%
43 2016 Arturo M. Raschbaum Former President and Chief Executive Officer, Maiden Holdings, Ltd. 1.00M 460.0K 1.00M 217.4K 2.68M 37.35%
44 2016 Arturo M. Raschbaum President and Chief Executive Officer 1.00M 460.0K 1.00M 217.4K 2.68M 37.35%
45 2016 Karen L. Schmitt Former Executive Vice President - Finance and Chief Financial Officer, Maiden Holdings, Ltd. 600.0K 390.0K 174.5K 338.6K 1.50M 25.95%
46 2016 Karen L. Schmitt Chief Financial Officer 600.0K 390.0K 174.5K 338.6K 1.50M 25.95%
47 2016 Patrick J. Haveron Chief Financial Officer & Chief Operating Officer, Maiden Holdings, Ltd. and President, Maiden Reinsurance Ltd. 501.6K 250.8K 104.2K 268.4K 1.12M 22.29%
48 2016 Patrick J. Haveron President, Maiden Reinsurance 501.6K 250.8K 104.2K 268.4K 1.12M 22.29%
49 2016 William T. Jarman Senior Vice President, Chief Actuary, Maiden Global Servicing Company, LLC 346.8K 172.9K 97.0K 225.2K 841.9K 20.54%
50 2016 Lawrence F. Metz President and Chief Executive, Maiden Holdings, Ltd. 461.9K 231.0K 83.2K 14.2K 790.2K 29.23%
51 2016 Lawrence F. Metz Executive Vice President, General Counsel and Secretary 461.9K 231.0K 83.2K 14.2K 790.2K 29.23%
52 2016 Thomas H. Highet Former President, Maiden Reinsurance North America (formerly owned subsidiary) 450.0K 225.0K 70.1K 12.4K 757.5K 29.70%
53 2016 Thomas H. Highet President, Maiden Reinsurance North America 450.0K 225.0K 70.1K 12.4K 757.5K 29.70%
54 2015 Arturo M. Raschbaum President and Chief Executive Officer 1.00M 500.0K 900.0K 395.4K 2.80M 32.20%
55 2015 Karen L. Schmitt Chief Financial Officer 600.0K 601.0K 510.0K 349.4K 2.06M 29.17%
56 2015 Patrick J. Haveron President, Maiden Reinsurance 501.6K 382.6K 263.3K 413.2K 1.56M 24.51%
57 2015 Thomas H. Highet President, Maiden Reinsurance North America 450.0K 225.0K 168.8K 13.4K 857.2K 26.25%
58 2015 Lawrence F. Metz Executive Vice President, General Counsel and Secretary 419.9K 168.0K 168.0K 15.0K 770.9K 21.79%
59 2014 Arturo M. Raschbaum President and Chief Executive Officer 1.00M 1.00M 800.0K 273.0K 3.07M 26.03%
60 2014 Karen L. Schmitt Chief Financial Officer 600.0K 467.9K 500.0K 138.8K 1.71M 27.42%
61 2014 Patrick J. Haveron President, Maiden Reinsurance 501.6K 305.8K 314.0K 98.8K 1.22M 25.06%
62 2014 Thomas H. Highet President, Maiden Reinsurance North America 450.0K 261.7K 359.9K 15.3K 1.09M 24.08%
63 2014 Lawrence F. Metz Executive Vice President, General Counsel and Secretary 392.4K 191.1K 186.0K 17.1K 786.6K 24.29%
64 2013 Arturo M. Raschbaum President and Chief Executive Officer 1.00M 800.0K 1.50M 217.9K 3.52M 42.64%
65 2013 Karen L. Schmitt Chief Financial Officer 566.5K 467.4K 420.6K 16.8K 1.47M 31.77%
66 2013 Patrick J. Haveron President, Maiden Reinsurance 440.0K 320.0K 297.0K 22.0K 1.08M 29.66%
67 2013 Thomas H. Highet President, Maiden Reinsurance North America 367.0K 212.9K 208.9K 12.4K 801.3K 26.57%
68 2013 Lawrence F. Metz Executive Vice President, General Counsel and Secretary 341.3K 201.5K 129.0K 16.6K 688.3K 29.27%
69 2007 Ben Turin, Chief Operating Officer, General Counsel and Secretary 137.5K 100.0K 36.9K 49.2K 323.6K 11.41%
70 2007 Max G. Caviet, President and Chief Executive Officer 147.8K 147.8K 100.00%
71 2007 Joseph T. Gaito, Senior Vice President and Chief Underwriting Officer of Maiden Insurance 57.3K 11.5K 25.1K 10.8K 104.6K 24.00%
72 2007 Michael J. Tait, Chief Financial Officer 30.4K 37.5K 6.6K 74.4K 8.83%
73 2007 James A. Bolz, Senior Vice President — Underwriting of Maiden Insurance 43.0K 8.6K 8.3K 14.4K 74.3K 11.10%
74 2007 Ronald E. Pipoly 24.3K 24.3K 100.00%
CEO compensation breakdown

Proxy statements

Proxy statements (DEF 14A)
Filing date Form type Filing
2024-03-27 DEF 14A

Recent SEC filings

Recent SEC filings
Filing date Form type Filing
2025-06-10 15-12G
2025-05-29 SC 13D/A
2025-05-28 4
2025-05-28 4
2025-05-28 4
2025-05-28 4
2025-05-28 4
2025-05-28 4
2025-05-28 4
2025-05-28 4
ESG Rating
B
INSURANCE - LIFE
2020
E (Environmental)
58.4 / 66.1
Company / Sector avg.
S (Social)
61.4 / 78.2
Company / Sector avg.
G (Governance)
76.0 / 68.8
Company / Sector avg.
ESG Total
65.3 / 71.0
Company / Sector avg.
ESG Score History INSURANCE - LIFE
Benchmark vs Sector
Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

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Dividend yield history

Dividend history

Earnings history

Earnings reports

Stock splits