MHLD - Maiden Holdings forms unit for legacy services to small insurance companies

Maiden Holdings ([[MHLD]] +2.8%) forms Genesis Legacy Solutions, a unit to specialize in a range of legacy services to small U.S. insurance entities, particularly those in run-off with blocks of reserves that are no longer core.The Genesis team will be led by Brian Johnston as CEO and chief financial officer, joined by Tom Hodson as deputy CEO and general counsel, and Stephanie Mocatta, executive vice president, leading GLS’s business development."We believe the GLS team will not only enhance Maiden’s profitability through both fee income and effective claims management services, but it will also increase our asset base through the addition of blocks of reserves or companies that can be successfully wound down," said MHLD Co-CEOs Patrick Haveron and Lawrence Metz. "This should further enhance our ability to pursue the asset and capital management pillars of our strategy."

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Maiden Holdings forms unit for legacy services to small insurance companies