v2.3.0.15
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Per Share data
3 Months Ended9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
Revenues:    
Gross premiums written$ 451,130$ 289,815$ 1,384,302$ 951,981
Net premiums written428,586273,4351,315,052897,776
Change in unearned premiums(8,309)36,158(180,457)(40,470)
Net premiums earned420,277309,5931,134,595857,306
Other insurance revenue4,530 11,364 
Net investment income18,74917,50057,70853,956
Net realized and unrealized investment (losses) gains(2,900)1,627(2,262)2,474
Total revenues440,656328,7201,201,405913,736
Expenses:    
Net loss and loss adjustment expenses274,504200,625746,285546,264
Commission and other acquisition expenses126,77788,956339,673254,799
General and administrative expenses12,47510,84037,60728,876
Interest and amortization expenses8,1789,11726,58827,348
Accelerated amortization of junior subordinated debt discount and issuance cost  20,313 
Junior subordinated debt repurchase expense  15,050 
Amortization of intangible assets1,2581,4523,7754,356
Foreign exchange (gains) losses1,103(1,187)(898)380
Total expenses424,295309,8031,188,393862,023
Income before income taxes16,36118,91713,01251,713
Income taxes:    
Current tax expense2031001,299100
Deferred tax expense156291738881
Income tax expense3593912,037981
Net income16,00218,52610,97550,732
Add: Loss attributable to noncontrolling interest2 5 
Net income attributable to Maiden shareholders$ 16,004$ 18,526$ 10,980$ 50,732
Basic earnings per share attributable to Maiden shareholders$ 0.22$ 0.26$ 0.15$ 0.72
Diluted earnings per share attributable to Maiden shareholders$ 0.22$ 0.26$ 0.15$ 0.72
Dividends declared per common share$ 0.080$ 0.065$ 0.220$ 0.195