Company: KG
Filing Date: 2025-03-24
Form Type: S-4/A
Source: 0001104659-25-027242
Chunk: 48

Company: Kestrel Group Ltd
Filing Date: 2025-03-24
Form: S-4/A
Chunk 48
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 | ​ | ​    | ​ | ​ | ​ |   9,765 | ​ | ​ |
| Comprehensive loss                                                                    | ​    | ​ | ​                        | $ | -202,233 | ​ | ​    | ​ | ​ | $ | -28,804 | ​ | ​ |

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| Balance Sheet Data(in thousands of U.S. dollars)                           
 ​                                                                          | ​    
 2024 | ​ | December 31, |   |         ​ | ​ | 2023 |   |   |   |         ​ |   | ​ |
|:---------------------------------------------------------------------------|:-----|:--|:-------------|:--|----------:|:--|:-----|:--|:--|:--|----------:|:--|:--|
| Cash and cash equivalents (including restricted cash and cash equivalents) | ​    | ​ | ​            | $ |    34,735 | ​ | ​    | ​ | ​ | $ |    42,678 | ​ | ​ |
| Total assets                                                               | ​    | ​ | ​            | ​ | 1,316,006 | ​ | ​    | ​ | ​ | ​ | 1,518,934 | ​ | ​ |
| Total liabilities                                                          | ​    | ​ | ​            | ​ | 1,270,813 | ​ | ​    | ​ | ​ | ​ | 1,269,774 | ​ | ​ |
| Total shareholders’ equity                                                 | ​    | ​ | ​            | ​ |    45,193 | ​ | ​    | ​ | ​ | ​ |   249,160 | ​ | ​ |

(1) Does not include 44,750,678 Maiden shares held by Maiden Re.

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SELECTED CONSOLIDATED HISTORICAL FINANCIAL DATA OF KESTREL The following table sets forth certain selected historical financial data of Kestrel. The selected historical consolidated statements of income data for the years ended December 31, 2024 and 2023 and the selected historical consolidated balance sheet data as of December 31, 2024 and 2023 were derived from Kestrel’s audited consolidated financial statements and related notes for the year ended December 31, 2024. The information set forth below is only a summary and is not necessarily indicative of the results of future operations of Kestrel or the combined company, and you should read the