Maiden Holdings Buying GMAC's Reinsurance Operations

GMAC Insurance (GMACI) and Maiden Holdings Ltd. announced Monday that they have closed an agreement for the acquisition of GMACI's reinsurance operations, GMAC Re, by Maiden Holdings' wholly owned U.S. subsidiary.The acquisition forms a dedicated U.S. reinsurance group, Maiden Re, based in Mt. Laurel, N.J., Maiden said in a press release.Maiden Re said it will bring more than 25 years of stability and market intelligence in the Treaty, Facultative, and Specialty/Alternative areas of reinsurance. Maiden Re will offer the same level of collateral commitment and trust capabilities as GMAC...