Maiden Holdings Ltd.'s principal operating subsidiary, Maiden Reinsurance Ltd., is redomesticating to Vermont from Bermuda.
The move, along with other actions taken to de-risk Maiden Holdings' balance sheet, is expected to strengthen the company's capital position and solvency ratios. The company intends to complete the redomestication process by Jan. 1, 2020, subject to regulatory approval in Bermuda and licensing approval in Vermont.
Maiden Holdings also intends to transfer the listing of its common shares to the Nasdaq Capital Market under the symbol MHLD, following a noncompliance notice from Nasdaq in April. The company's common shares will continue to trade on the Nasdaq Global Select Market while Nasdaq reviews its transfer application.