v3.19.2
Shareholders' Equity
 6 Months Ended
Jun. 30, 2019
Stockholders' Equity Note [Abstract]  
Shareholders' Equity Shareholders' Equity
a)
Common Shares
At June 30, 2019, the aggregate authorized share capital of the Company is 150,000,000 shares from which the Company has issued 88,079,315 common shares, of which 83,066,135 common shares are outstanding, and 18,600,000 preference shares, all of which are outstanding. The remaining 43,320,685 shares are undesignated at June 30, 2019. For further discussion on the components of Shareholders' Equity, please refer to the Company's Annual Report on Form 10-K for the year ended December 31, 2018.
b)
Treasury Shares
During the six months ended June 30, 2019, the Company repurchased a total of 23,220 (2018 - 29,391) shares at an average price per share of $0.78 (2018 - $6.57) from employees, which represent withholdings in respect of tax obligations on the vesting of restricted shares and performance based shares.
12. Shareholders' Equity (continued)
c)
Accumulated Other Comprehensive Gain (Loss)
The following tables set forth financial information regarding the changes in the balances of each component of AOCI:
For the Three Months Ended June 30, 2019
 
Change in net unrealized gains on investment
 
Foreign currency translation
 
Total
Beginning balance
 
$
1,714

 
$
(1,934
)
 
$
(220
)
Other comprehensive income (loss) before reclassifications
 
42,979

 
(6,192
)
 
36,787

Amounts reclassified from AOCI to net loss, net of tax
 
(15,415
)
 
—

 
(15,415
)
Net current period other comprehensive income (loss)
 
27,564

 
(6,192
)
 
21,372

Ending balance, Maiden shareholders
 
$
29,278

 
$
(8,126
)
 
$
21,152

 
 
 
 
 
 
 
For the Three Months Ended June 30, 2018
 
Change in net unrealized gains on investment
 
Foreign currency translation
 
Total
Beginning balance
 
$
(46,429
)
 
$
(16,523
)
 
$
(62,952
)
Other comprehensive (loss) income before reclassifications
 
(50,423
)
 
15,605

 
(34,818
)
Amounts reclassified from AOCI to net income, net of tax
 
745

 
—

 
745

Net current period other comprehensive (loss) income
 
(49,678
)
 
15,605

 
(34,073
)
Ending balance
 
(96,107
)
 
(918
)
 
(97,025
)
Less: AOCI attributable to noncontrolling interest
 
—

 
(66
)
 
(66
)
Ending balance, Maiden shareholders
 
$
(96,107
)
 
$
(852
)
 
$
(96,959
)
For the Six Months Ended June 30, 2019
 
Change in net unrealized gains on investment
 
Foreign currency translation
 
Total
Beginning balance
 
$
(59,762
)
 
$
(5,932
)
 
$
(65,694
)
Other comprehensive income (loss) before reclassifications
 
91,967

 
(2,194
)
 
89,773

Amounts reclassified from AOCI to net income, net of tax
 
(2,927
)
 
—

 
(2,927
)
Net current period other comprehensive income (loss)
 
89,040

 
(2,194
)
 
86,846

Ending balance, Maiden shareholders
 
$
29,278

 
$
(8,126
)
 
$
21,152

 
 
 
 
 
 
 
For the Six Months Ended June 30, 2018
 
Change in net unrealized gains on investment
 
Foreign currency translation
 
Total
Beginning balance
 
$
21,889

 
$
(8,583
)
 
$
13,306

Other comprehensive (loss) income before reclassifications
 
(117,251
)
 
7,665

 
(109,586
)
Amounts reclassified from AOCI to net income, net of tax
 
(745
)
 
—

 
(745
)
Net current period other comprehensive (loss) income
 
(117,996
)
 
7,665

 
(110,331
)
Ending balance
 
(96,107
)
 
(918
)
 
(97,025
)
Less: AOCI attributable to noncontrolling interest
 
—

 
(66
)
 
(66
)
Ending balance, Maiden shareholders
 
$
(96,107
)
 
$
(852
)
 
$
(96,959
)