Company: KG
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001628280-25-049606
Chunk: 0

Company: Kestrel Group Ltd
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 1
Chunk 0
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PART I - FINANCIAL INFORMATION

Item 1. Financial Statements 

KESTREL GROUP LTD

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands of U.S. dollars, except share and per share data)

September 30,2025December 31,2024ASSETS(Unaudited)(Audited)Investments:Fixed maturities, available-for-sale, at fair value (Amortized cost: 2025 - $197,941)$198,658 $— Equity securities, at fair value (Cost: 2025 - $11,145)11,350 — Equity method investments32,518 —    Other investments171,791 —    Total investments414,317 —   Cash and cash equivalents12,890 4,286   Restricted cash and cash equivalents27,634 —   Accrued investment income5,076 — Reinsurance balances receivable, net (includes $7,712 from related parties in 2025). Allowance for expected credit losses: 2025 - $229)9,706 — Reinsurance recoverable on unpaid losses (Allowance for expected credit losses: 2025 - $1,459)492,790 —   Net loan receivable from related party101,689 — Intangible assets (includes $9,169 from related parties in 2025)10,370 — Funds withheld receivable (Allowance for expected credit losses: 2025 - $9)11,941 —   Other assets24,872 1,224 Assets held for sale19,155 — Total assets$1,130,440 $5,510 LIABILITIESReserve for loss and loss adjustment expenses (includes $589,815 from related parties in 2025)$677,667 $— Unearned premiums (includes $19,401 from related parties in 2025)19,615 — Liability for securities purchased11,692 — Accrued expenses and other liabilities (includes $68,508 and $0 from related parties in 2025 and 2024, respectively)102,874 904    Senior notes - principal amount262,361 — Less: unamortized fair value adjustment88,277 —    Senior notes, net174,084 — Liabilities held for sale734