Maiden Insurance Co. Ltd. has been affirmed the financial strength rating (FSR) of A- (excellent) and issuer credit rating (ICR) of "a-" by AM Best Co.

Concurrently, Best has affirmed the ICR of "bbb-" of the parent holding company, Maiden Holdings Ltd.

Both companies are domiciled in Bermuda. The outlook for all ratings is stable.

The ratings reflect Maiden's excellent capitalisation achieved through contributions from Maiden Holdings Ltd., which infused the net proceeds of a private placement offering; the operational benefits derived as a 40 percent quota share partner with AmTrust Financial Services, Inc.'s (AmTrust) Bermuda reinsurance subsidiary, AmTrust International Insurance Ltd. (AII); and the benefits derived from AmTrust's seasoned management team.

These factors are partially offset by Maiden's limited risk-taking experience, the execution risk faced by management in achieving its business plans and the risk inherent in profitably growing its business amidst softening market conditions.

Despite these concerns, the rating outlook is supported by the financial commitment of the parent company, and the close working relationship that Maiden shares with AmTrust.