Shareholders' Equity

9 Months Ended

Sep. 30, 2020

Stockholders' Equity Note [Abstract]

a)Common Shares

At September 30, 2020, the aggregate authorized share capital of the Company is 150,000,000 shares from which the Company has issued 89,777,896 common shares, of which 84,763,882 common shares are outstanding, and 18,600,000 preference shares, all of which are outstanding. The remaining 41,622,104 shares are undesignated at September 30, 2020. 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, 2019.

b)Treasury Shares

During the nine months ended September 30, 2020, the Company repurchased total shares of 834 (2019 - 23,220) at an average price per share of $1.13 (2019 - $0.78) from employees, which represent withholdings in respect of tax obligations on the vesting of restricted shares and performance based shares.

The Company has a remaining authorization of $74,245 for share repurchases at September 30, 2020 (December 31, 2019 - $74,245). No repurchases were made during the three and nine months ended September 30, 2020 and 2019 under the share repurchase plan.

13. Shareholders' Equity (continued)

c)Accumulated Other Comprehensive Income

The following tables set forth financial information regarding the changes in the balances of each component of AOCI:


For the Three Months Ended September 30, 2020	Change in net unrealized gains on investment		Foreign currency translation		Total
Beginning balance	$	17,184	$	(7,983)	$	9,201
Other comprehensive income (loss) before reclassifications	14,996		(6,998)		7,998
Amounts reclassified from AOCI to net income, net of tax	(3,242)		—		(3,242)
Net current period other comprehensive income (loss)	11,754		(6,998)		4,756


Ending balance, Maiden shareholders	$	28,938	$	(14,981)	$	13,957

For the Three Months Ended September 30, 2019	Change in net unrealized gains on investment		Foreign currency translation		Total
Beginning balance	$	29,278	$	(8,126)	$	21,152
Other comprehensive (loss) income before reclassifications	(2,141)		11,480		9,339
Amounts reclassified from AOCI to net loss, net of tax	(8,555)		—		(8,555)
Net current period other comprehensive (loss) income	(10,696)		11,480		784


Ending balance, Maiden shareholders	$	18,582	$	3,354	$	21,936



For the Nine Months Ended September 30, 2020	Change in net unrealized gains on investment		Foreign currency translation		Total
Beginning balance	$	21,996	$	(4,160)	$	17,836
Other comprehensive income (loss) before reclassifications	16,585		(10,821)		5,764
Amounts reclassified from AOCI to net income, net of tax	(9,643)		—		(9,643)
Net current period other comprehensive income (loss)	6,942		(10,821)		(3,879)


Ending balance, Maiden shareholders	$	28,938	$	(14,981)	$	13,957

For the Nine Months Ended September 30, 2019	Change in net unrealized gains on investment		Foreign currency translation		Total
Beginning balance	$	(59,762)	$	(5,932)	$	(65,694)
Other comprehensive income before reclassifications	89,826		9,286		99,112
Amounts reclassified from AOCI to net loss, net of tax	(11,482)		—		(11,482)
Net current period other comprehensive income	78,344		9,286		87,630


Ending balance, Maiden shareholders	$	18,582	$	3,354	$	21,936