Maiden Sells Inactive Insurance Subsidiary To Clear Blue Financial

(RTTNews) - Maiden Holdings Ltd (MHLD) on Friday announced the execution of an agreement to sell its inactive subsidiary, Maiden Specialty Insurance Co, to Clear Blue Financial Holdings LLC.

The Bermuda-based company said the proceeds from the deal are not material to its operations.

Maiden also noted that the deal has no impact on the A.M. Best A- (positive outlook) financial strength ratings of Maiden, Maiden Reinsurance North America Ltd or Maiden Reinsurance Ltd.

However, as a result of the proposed sale, A.M. Best has placed the A- financial strength rating of Maiden Specialty under review with negative implications, the company said.