Company: KG
Filing Date: 2025-08-15
Form Type: 10-Q
Source: 0002055116-25-000018
Chunk: 267

Company: Kestrel Group Ltd
Filing Date: 2025-08-15
Form: 10-Q
Item: Item 8
Chunk 267
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 than the information previously filed with the SEC, and such differences could be material.The Company is continuing its review of these matters during the measurement period, and if new information obtained about facts and circumstances that existed at the acquisition date identifies adjustments to the liabilities initially recognized, as well as any additional liabilities that existed at the acquisition date, the acquisition accounting will be revised to reflect the resulting adjustments to the provisional amounts initially recognized. The Company will finalize the purchase price allocation during the twelve-month period following the acquisition date.Purchase PriceThe final purchase price was based on the fair value of the issued and outstanding common shares at the closing of the Combination on May 27, 2025. The following table summarizes the final purchase price as of May 27, 2025:Kestrel Group Ltd shares issued at Closing7,221,621 Kestrel Group Ltd share price$23.00 Gross equity portion of consideration transferred at Closing$166,097 Kestrel Group Ltd shares retained as treasury shares by Maiden Reinsurance at Closing(2,237,533)Kestrel Group Ltd share price$23.00 Equity portion of consideration transferred to Maiden Reinsurance$(51,463)Net equity portion of consideration transferred at Closing$114,634 Cash consideration paid to shareholders at Closing for fractional shares1 Portion of the Maiden awards attributable to pre-combination service514  Intercompany settlement 388 Total consideration effectively transferred$115,537 

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KESTREL GROUP LTD NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)(in thousands of U.S. dollars, except share and per share data)

15. Business Combination (continued)Estimated Purchase Price AllocationThe following table summarizes allocation of the estimate of the purchase price to the assets acquired and liabilities assumed as of May 27, 2025:Fixed maturities, available-for-sale, at fair value$208,855 Equity securities, at fair value11,144 Equity method investments32,326   Other investments160,439   Cash and cash equivalents68,358   Restricted cash and cash equivalents11,449   Accrued investment income4,108 Reinsurance balances receivable, net10,133 Reinsurance recoverable on unpaid losses517,028   Net loan receivable from related party107,110 Intangible assets11,864 Funds withheld receivable11,048   Other assets19,876