Maiden Voyage

Brad Loescher Jill Howell

Maiden Re Newhall Klein

Background

Maiden Holdings, Ltd.

Bermuda Based Holding Company Traded on NASDAQ, ticker MHLD Rated A- by A.M. Best with Stable

Outlook As of 6/30/09, Shareholder’s Equity

of $605 MM

Company Structure Non-US Reinsurance: Maiden

Insurance US Reinsurance: Maiden Re US Excess & Surplus: Maiden

Specialty

2008: A Year of Challenges

Impact Being Felt

Maiden Holdings Acquires GMAC RE

Balance Sheet Dedicated To Reinsurance Operations

Results No Longer Consolidated Within Larger Insurance Holding Company

Fully Accountable For Our Own Destiny

Maiden Holdings Acquires GMAC RE

US Reinsurance Platform Formed Through Acquisition of GMAC RE

GMAC RE Becomes Maiden Re

GMAC RE Over 25 Years Of

Reinsurance Experience

Regional Market Focus

Strong Client Relationships

Long-Term Client Base

Stable Loss History

Challenge

Focus Attention On The Opportunity

Preserve Leadership Position

Maintain GMAC RE’s Strong Business Equity

Acknowledged Leadership And Trusted Partnerships In Providing Reinsurance Solutions

Create Confidence And Opportunity For The New Maiden Re

Position As Start-up With History

Need To Assure Brokers And Clients That Acquisition Would Not Change: Client Focus Risk Appetite Management

Team Approach To

Business

Offensive Wave Within 48-72 Hrs

Maiden Employees Customers Brokers Media

Promise and Opportunity

Focus Attention On The Opportunity

Preserve Leadership Gained As GMAC RE

Main Message: Start-up With History

Offensive Wave Within 48-72 Hrs

Opportunities

Stand-Alone Platform

Balance Sheet Dedicated To Reinsurance Operations

Results No Longer Consolidated Within Larger Insurance Holding Company

Fully Accountable For Our Own Destiny

Financial Market Turmoil

Global Disruption Of Capital Markets

Impact Felt Across All Sectors

New Company With Fresh, Unencumbered Capital

Move From Defense To Offense With Dedicated Financial Trust Security In An Uncertain

Time Reinforces Similarity

And Strength

Communicating the Maiden Re Advantage

Marketing Challenge

Maintain “Business As Usual” Expectations

Protect Against Competitive Invaders

Stabilize Trust, Stem The Rumors, Control The Concerns

TIMING: Announcement And Transaction To Occur Simultaneously

Marketing Opportunity

Create A Communication Campaign That Touches Every Customer, Every Prospect First

Head-Off Concerns Or Competitor Maneuvers

Talk To Everyone Within 72 Hours

Strategy & Tactics

Unique Positioning

Maiden Re is greater than the sum of its parts:

Maiden ReGMAC RE

>Maiden Holdings

+

Unique Positioning

Maiden Re – It’s What Happens When: “Proven” Joins “Innovation” “Secure” Meets “Perspective” “Strong” Becomes “Stronger”

When Maiden Holdings Combines Its Financial Strength With GMAC RE’s Acknowledged Leadership The Result Is A New Level Of Stability, Security, And Service.

Speed And Accuracy

Change The Name Throughout The Organization, With Customers, And Across The Industry

Pinpoint Targets Maiden Re Employees Engage News Sources – Build Relationships Customers and Brokers

Strategic Approach = Manage The News / Control The Perceptions

Speed And Accuracy

Clear, Straightforward Celebrate The New Respect The Past Reach Everyone Within 48-72 Hours Of

The Announcement

Details Of The Message

GMAC RE Is Now Maiden Re; A Stand-Alone Reinsurance Company The Name Has Changed But Same Focus –

On Relationships, Security, And Service No Change To Management - Underwriting,

Claims, Or Executive Management The Dedicated Financial Trust Will Continue The Same Risk Appetite And Business Focus

Operational Plan

Internal Announcement Customer And Broker Communication Media Relations Advertising

Internal

Employees Learned Of Acquisition Immediately After It Occurred

Need To Quickly Disseminate Information On Change And It’s Impact On Business And Employees Personally Internal Launch Event Human Resources Immediate – Voicemail, E-

mail, Business Card, Letterhead, Presentations, Etc.

Media Relations

Press Release Executive

Interviews Press Kits

Resulting in: News spotlights Editorial Features Advertorials

Customers And Brokers

E-mail News Distribution Immediately After Press Release Was Issued Letter From CEO On Impact / What To Expect

Telephone Campaign Calls Began Immediately After Employee

Meeting All Clients And Brokers Received A Call That Day

Road Trip Several Teams Of Executives Dispatched Most Clients And Brokers Meet Within A Week

Advertising

Announcement Ads Prominent Publications Best Available Placement

Open Letter To Customers And Business Partners

Update Existing Ads – Continue To Lead With The Trust Minor Changes Reflect Only The Name Has

Changed

Maiden Re Offensive Wave – 48 to 72 Hrs

Nov. 3rd Nov. 4th

Nov. 5th Nov. 6th Nov. 7th

Week 2

8:30 A.M.Employee Meeting

8:55 A.M.Internal Announcement

9:07 A.M.Press Release To News Wire

9:15 A.M.Customer Email Blast

9:30 A.M.Customer Calls

Customer Calls

Customer Visits

Customer Visits

Customer Visits

Customer Visits

Trade Media Calls Trade Media Calls

Trade Media Calls

Media InterviewsPrint AdvertisingOnline Advertorials

Corporate Signage, Letterhead, Email, Voice Mail, Website Announcement ad

Website Announcement Ad

Website Announcement Ad

Website Announcement Ad

Maiden Re Announcement Ad

Launch New Maiden Re Website

Press Kit Shipped Press Kits Received

Advertorials AndEditorial Features

Creative

..\Maiden Re Banner and Box ads\MaidenBanner.html

Banner Ads

How Did We Do?

Maiden Team And Integration Has Gone Extremely Well

Clients And Brokers Are Engaged Stronger Balance Sheet And Future

Revenue Growth Opportunities Shareholders Return The Balance Sheet Remains Strong In

The Face Of Challenge

Maiden Re – A Fresh New LookWith Client and Investor confidence

secured…

We’re ready for a Fresh – Unique and Confident creative expression of who Maiden Re is…

Maiden Re

Taking a truly personal approach…

Brad Loescher Jill Howell

Maiden Re Newhall Klein