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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Per Share data, unless otherwise specified
 3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Revenues:    
Gross premiums written $ 722,382 $ 714,720
Net premiums written 709,892 689,059
Change in unearned premiums (190,662) (200,617)
Net premiums earned 519,230 488,442
Other insurance revenue 5,162 5,215
Net investment income 27,842 21,979
Net realized gains on investment 88 3,283
Total revenues 552,322 518,919
Expenses:    
Net loss and loss adjustment expenses 351,344 334,895
Commission and other acquisition expenses 146,082 132,330
General and administrative expenses 14,924 14,095
Interest and amortization expenses 8,064 9,570
Accelerated amortization of junior subordinated debt discount and issuance cost 28,240 0
Amortization of intangible assets 819 945
Foreign exchange and other gains (138) (1,547)
Total expenses 549,335 490,288
Income before income taxes 2,987 28,631
Income tax expense 926 524
Net income 2,061 28,107
Less: Income attributable to noncontrolling interest (39) (27)
Net income attributable to Maiden shareholders 2,022 28,080
Dividends on preference shares (6,084) (3,094)
Net income (loss) attributable to Maiden common shareholders $ (4,062) $ 24,986
Basic (loss) earnings per share attributable to Maiden common shareholders (in dollars per share) $ (0.06) $ 0.35
Diluted (loss) earnings per share attributable to Maiden common shareholders (in dollars per share) $ (0.06) [1] $ 0.34 [1]
Dividends declared per common share (in dollars per share) $ 0.11 $ 0.09
[1] The effect of share options, restricted shares units and mandatory convertible preference shares were excluded in the calculation of diluted EPS for the three months ended March 31, 2014 as they were anti-dilutive. Please refer to "Notes to Consolidated Financial Statements" included under Item 8 of our Annual Report on Form 10-K for the year ended December 31, 2013 for the terms and conditions of each of these anti-dilutive instruments. Furthermore, the current number of additional common shares that could possibly be issued on conversion, if conversion at March 31, 2014 was permitted in accordance with the terms and conditions of Form 424B Prospectus Supplement filed with the SEC, is 36,714, an increase of 16,874 common shares since December 31, 2013.