Maiden Holdings, Ltd. provided earnings guidance for the year 2016. Maiden expects to report a modest level of operating and net income for the full year. Absent the impact of commercial auto adverse development and reserve strengthening in 2016, Maiden would have generated profitable underwriting results for the year. Maiden does not anticipate any change to its quarterly dividend policy. The company announced that its fourth quarter 2016 results will include a reserve charge of approximately $120 million relative to the Company’s projected December 31, 2016 reserve balance of approximately $2.9 billion. The $120 million charge, which is primarily from its commercial auto business, includes both a provision to substantially strengthen reserves as well as adverse development realized during the fourth quarter.