MAIDEN RE CLEARED TO RE-DOMESTICATE TO VERMONT

The Vermont Department of Financial Regulation has issued a certificate of authority to Maiden Holdings’ Maiden Reinsurance operating unit after approving the company’s application to re-domesticate to the state from Bermuda. Maiden Holdings will remain domiciled in Bermuda. Maiden Re expects to complete the re-domestication on March 16 after having filed documentation for the move last October. The company said the relocation will result in a more efficient operational structure, enabling it to align its operations, capital and resources with its liabilities, most of which arise in the US. Maiden said the move, along with de-risking actions it completed under the consultation with Bermudian authorities, will improve its solvency ratios and capital position.