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This acquisition reportedly concludes the November 2008 transactions related to Maiden's purchase of the reinsurance operation from GMAC.
According to Maiden, Integon Specialty will be renamed Maiden Specialty, and it will operate as a non-admitted carrier in 49 jurisdictions. Maiden Specialty will allow Maiden to continue to provide property excess and surplus lines products in the US insurance market.
The strategic risk specialists division of Maiden Holdings North America (MHNA) will also be renamed Maiden Specialty, unifying the names of the operating division and the insurance company. Maiden Specialty will be a wholly-owned subsidiary of Maiden Reinsurance Company.
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