Maiden Re(MHLD) - 2023 Q4 - Earnings Call Presentation

21 (4) Underwriting income (loss) is a non-GAAP measure and is calculated as net premiums earned phus other insurance revenue less net loss and LAE, commission and other acquisition expenses and general and administrative expenses directly related to underwriting activities. For purposes of these non-GAAP operating measures, the fee-generating business which is inchuded in our Diversified Reinsurance segment, is considered part of the underwriting operations of the Connaty. Management believes that this mea ...