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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2016
Dec. 31, 2015
ASSETS    
Fixed maturities, available-for-sale, at fair value (amortized cost 2016: $4,005,642; 2015: $3,562,864) $ 3,971,666 $ 3,508,088
Fixed maturities, held to maturity, at amortized cost (fair value 2016: $766,135; 2015: $598,975) 752,212 607,843
Other investments, at fair value (cost 2016: $10,057; 2015: $10,816) 13,060 11,812
Total investments 4,736,938 4,127,743
Cash and cash equivalents 45,747 89,641
Restricted cash and cash equivalents 103,788 242,859
Accrued investment income 36,517 32,288
Reinsurance balances receivable, net (includes $132,056 and $147,365 from related parties in 2016 and 2015, respectively) 410,166 377,318
Reinsurance recoverable on unpaid losses (includes $5,085 and $2,177 from related parties in 2016 and 2015, respectively) 99,936 71,248
Loan to related party 167,975 167,975
Deferred commission and other acquisition expenses (includes $339,172 and $341,025 from related parties in 2016 and 2015, respectively) 424,605 397,548
Goodwill and intangible assets, net 77,715 81,920
Other assets 148,912 115,038
Total assets 6,252,299 5,703,578
LIABILITIES    
Reserve for loss and loss adjustment expenses (includes $1,776,784 and $1,443,639 from related parties in 2016 and 2015, respectively) 2,896,496 2,510,101
Unearned premiums (includes $1,152,484 and $1,077,460 from related parties in 2016 and 2015, respectively) 1,475,506 1,354,572
Accrued expenses and other liabilities 167,736 139,873
Senior notes - principal amount 362,500 360,000
Less unamortized issuance costs 11,091 10,067
Senior notes, net 351,409 349,933
Total liabilities 4,891,147 4,354,479
Commitments and Contingencies
EQUITY    
Preference shares 315,000 480,000
Common shares ($0.01 par value; 87,321,012 and 74,735,785 shares issued in 2016 and 2015, respectively; 86,271,109 and 73,721,140 shares outstanding in 2016 and 2015, respectively) 873 747
Additional paid-in capital 749,256 579,178
Accumulated other comprehensive income (loss) 14,997 (23,767)
Retained earnings 285,662 316,184
Treasury shares, at cost (1,049,903 and 1,014,645 shares in 2016 and 2015, respectively) (4,991) (4,521)
Total Maiden shareholders’ equity 1,360,797 1,347,821
Noncontrolling interests in subsidiaries 355 1,278
Total equity 1,361,152 1,349,099
Total liabilities and equity $ 6,252,299 $ 5,703,578