As described in "Note 1. Basis of Presentation", the Company entered into a Renewal Rights transaction with TransRe on August 29, 2018. The Company continued to earn premiums and remain liable for losses occurring subsequent to August 29, 2018 for any policies in force prior to and as of August 29, 2018, through December 27, 2018, the date the sale of Maiden US was closed pursuant to the U.S. Sale Agreement with Enstar.

Maiden US was a substantial portion of our Diversified Reinsurance segment, therefore, the Company concluded that the sale represented a strategic shift that has a major effect on its ongoing operations and financial results and that all of the held for sale criteria have been met. Accordingly, all transactions related to the U.S. treaty reinsurance operations are reported and presented as part of discontinued operations. Furthermore, all of the assets and liabilities related to the sale of the U.S. treaty reinsurance operations are removed from the Condensed Consolidated Balance Sheets of the Company and any remaining assets and liabilities related to the retrocession agreement and true up of sale consideration, are classified as held for sale in the Condensed Consolidated Balance Sheets as at June 30, 2019 and December 31, 2018. The operations of the Company's U.S. treaty reinsurance business for the three and six months ended June 30, 2018 have been reclassified as part of the results from discontinued operations in the Condensed Consolidated Statements of Income.



	June 30, 2019		December 31, 2018
ASSETS
Fixed maturities, available-for-sale, at fair value	$	—	$	63,560
Restricted cash and cash equivalents	—		6,113
Reinsurance balances receivable, net	689		689
Reinsurance recoverable on unpaid losses	65,320		70,158
Other assets	—		33,955
Total assets held for sale	$	66,009	$	174,475
LIABILITIES
Reserve for loss and loss adjustment expenses	$	65,320	$	76,521
Accrued expenses and other liabilities	689		79,440
Total liabilities held for sale	$	66,009	$	155,961

The following table summarizes the major classes of line items constituting the results from discontinued operations for the three and six months ended June 30, 2019 and 2018, respectively, presented in the Condensed Consolidated Statements of Income:



	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2019			2018			2019			2018
Gross premiums written	$	—		$	132,710		$	—		$	362,022
Net premiums written	$	—		$	124,560		$	—		$	351,242
Net premiums earned	$	—		$	162,958		$	—		$	331,577
Other revenue	—			—			62			—
Net investment income	—			10,053			—			20,054
Net loss and loss adjustment expenses	6,363			(121,553		)	6,363			(241,671		)
Commission and other acquisition expenses	—			(35,965		)	—			(77,951		)
General and administrative expenses	(815		)	(4,714		)	(1,832		)	(8,993		)
Amortization of intangible assets	—			(462		)	—			(924		)
Income from discontinued operations before income taxes	5,548			10,317			4,593			22,092
Loss on disposal of discontinued operations	(23,077		)	—			(25,474		)	—
Income tax expense	(1,169		)	(2,102		)	(1,169		)	(3,882		)
(Loss) income from discontinued operations, net of income tax	$	(18,698	)	$	8,215		$	(22,050	)	$	18,210

As described in "Note 13. Subsequent Events", as a result of the Settlement and Commutation Agreement entered into by Maiden and Enstar on July 31, 2019, Maiden recorded an additional loss from discontinued operations of $16,715 for the three and six months ended June 30, 2019.