8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported)  July 30, 2008

Maiden Holdings, Ltd.

(Exact name of registrant as specified in its charter)

Bermuda	001-34042	N/A
(State or other jurisdiction	(Commission	IRS Employer
of incorporation)	File Number)	Identification No.)

48 Par-La-Ville Road, Suite 1141, Hamilton	HM11
(Address of principal executive offices)	(Zip Code)
Registrant’s telephone number, including area code (441) 292-7090

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.133-4 (c))

Item 2.02     RESULTS OF OPERATIONS AND FINANCIAL CONDITION

On July 30, 2008, Maiden Holdings, Ltd. issued a press release announcing its results of operations for the second quarter ended June 30, 2008 and the scheduling of a conference call on July 31, 2008 with respect thereto. A copy of the press release is attached as Exhibit 99.1 to this Form 8-K and is furnished as Exhibit 99.1 to this report.

Item 9.01     FINANCIAL STATEMENTS AND EXHIBITS.

(a) Not applicable.

(b) Not applicable.

(c) Not applicable.

(d) Exhibits.

Exhibit Number	Description
99.1	Press release dated July 30, 2008.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	Maiden Holdings, Ltd.
	(Registrant)
Date July 30, 2008
	/s/ Ben Turin
	Ben Turin
	Secretary

EX-99.1

press release  

For more information, please contact:

Maiden Holdings, Ltd.

Devora M. Goldenberg

441.292.7090

info@maiden.bm

For immediate release

July 30, 2008

Maiden Holdings, Ltd. Reports Second Quarter Net Income of $13.8 million

Maiden Holdings, Ltd. (NASDAQ: MHLD), today reported net income of $13.8 million and net premium written of $171.3 million for the second quarter ended June 30, 2008. Earnings per share for the second quarter were $0.23.

Second Quarter and Six Months 2008 Highlights:

· Net premium written for second quarter 2008 was $171.3 million

· Net premium written for six months ended June 30, 2008 was $273.7 million

· Net income for the second quarter was $13.8 million

· Net income for six months ended June 30, 2008 was $26.3 million

· Return on equity for the second quarter was 10.4% on an annualized basis

· Return on equity for six months ended June 30, 2008 on an annualized basis was 9.8%

· Quarterly earnings per basic share for second quarter 2008 was $0.23

· Earnings per basic share for six months ended June 30, 2008 was $0.44

· The combined ratio for the second quarter was 92.3%

· The combined ratio for six months ended June 30, 2008 was 92.4%

Second Quarter 2008 Results:

Revenue:

Net written premium for the second quarter was $171.3 million and net earned premium was $77.3 million. Net investment income was $7.8 million for the quarter ended June 30, 2008. For the six months ended June 30, 2008, net written premium was $273.7 million and net earned premium was $142.6 million. Net investment income for the six months was $15.4 million.

Expenses:

The Company’s loss ratio for the second quarter 2008 was 56.4%. The Company’s expenses for the second quarter 2008 were $27.7 million resulting in an expense ratio of 35.9% for the quarter. The Company’s loss ratio for six months ended June 30, 2008 was 57.1% and the expense ratio was 35.4%.

Other Matters:

Shareholders’ Equity as of June 30, 2008 increased to $536.7 million from $530.6 million as of March 31, 2008. During the second quarter the Company announced a dividend of $0.05.

Conference Call:

On July 31, 2008 at 3:00 p.m. Atlantic Time (2:00 p.m. ET), the Company will hold a conference call that can be accessed as follows:

Toll Dial-in (International Callers): 719.325.4845

Toll-free Dial-in: 877.340.7913

Webcast: http://www.maiden.bm

In order to participate in the conference call, you must register at http://www.maiden.bm.

A replay of the conference call will be available starting at 5:00 p.m. Atlantic Time on Thursday, July 31, 2008 through Wednesday, August 6, 2008 by dialing toll 719.457.0820 or toll-free 888.203.1112. The passcode for the replay is 4188502. Replay of the webcast will also be available at http://www.maiden.bm.

About Maiden Holdings, Ltd.

Maiden Holdings, Ltd. is a Bermuda holding company formed in May, 2007 to offer customized reinsurance products and services, through Maiden Insurance Company, Ltd., its wholly owned Bermuda reinsurance subsidiary, to small and mid-size insurance companies in the United States and Europe.

Forward Looking Statement

This release contains “forward-looking statements” which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements are based on the Company’s current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that actual developments will be those anticipated by the Company. Actual results may differ materially from those projected as a result of significant risks and uncertainties, including non-receipt of the expected payments, changes in interest rates, effect of the performance of financial markets on investment income and fair values of investments, developments of claims and the effect on loss reserves, accuracy in projecting loss reserves, the impact of competition and pricing environments, changes in the demand for the Company’s products, the effect of general economic conditions, adverse state and federal legislation, regulations and regulatory investigations into industry practices, developments relating to existing agreements, heightened competition, changes in pricing environments, and changes in asset valuations. The Company undertakes no obligation to publicly update any forward-looking statements.

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Maiden Holdings, Ltd.

Income Statement

(in thousands (000's), except per share data)

(Unaudited)

	For the Three Months Ended June 30, 2008			Period from May 31 to June 30, 2007			For the Six Months Ended June 30, 2008			Period from May 31 to June 30, 2007
Revenues:
Premium income:
Net premiums written	$	171,251		$	-		$	273,683		$	-
Change in unearned premiums		(93,913	)		-			(131,040	)		-
Net earned premium		77,338			-			142,643			-
Net investment income		7,763			59			15,372			59
Net realized investment gains		39			-			163			-
Total revenues		85,140			59			158,178			59
Expenses:
Loss and loss adjustment expenses		43,610			-			81,446			-
Commission and other acquisition expenses		25,498			-			46,758			-
Salaries and benefits		615			-			1,147			-
Other operating expenses		1,625			136			2,519			136
Total expenses		71,348			136			131,870			136
Net income	$	13,792		$	(77	)		26,308		$	(77	)
Basic and diluted earnings per common share	$	0.23		$	(0.02	)		0.44		$	(0.02	)
Dividends declared per common share	$	0.05		$	-			0.10		$	-
Weighted average number of basic and diluted shares outstanding		59,550,000			4,026			59,550,000			4,026
Combined ratio		92.3	%		N/A			92.4	%		N/A
Annualized return on equity		10.4	%		-3.80	%		9.8	%		-3.80	%

Maiden Holdings, Ltd.

Balance Sheet

(in thousands (000's), except per share data)

	(Unaudited) 30-Jun-08			31-Dec-07
Assets
Fixed maturities, available-for-sale, at fair value (amortized cost $752,990 ; $488,765)	$	721,496		$	474,789
Other investments, at fair value (cost $15,199; $15,176)		12,134			15,656
Total investments		733,630			490,445
Cash and cash equivalents		74,170			35,729
Accrued investment income		4,827			3,204
Reinsurance balances receivable, net		101,933			27,990
Loan to related party		167,975			113,542
Prepaid expenses and other assets		62			454
Deferred commission and other acquisition costs		91,011			44,215
Furniture and equipment, net		70			29
Total Assets	$	1,173,678		$	715,608
Liabilities and Shareholders’ Equity
Liabilities
Loss and loss adjustment expense reserves	$	83,340		$	38,508
Unearned premiums		268,206			137,166
Accrued expenses and other liabilities		4,175			2,589
Due to broker		26,660			-
Securities sold under agreements to repurchase, at contract value		254,557			-
Total Liabilities		636,938			178,263
Shareholders’ Equity:
Common shares		596			596
Additional paid-in capital		530,038			529,647
Accumulated other comprehensive loss		(34,845	)		(13,496	)
Retained earnings		40,951			20,598
Total Shareholders’ Equity		536,740			537,345
Total Liabilities and Shareholders’ Equity	$	1,173,677		$	715,608
Book value per share	$	9.01		$	9.02
Common shares outstanding		59,550,000			59,550,000