Company: KG
Filing Date: 2025-08-15
Form Type: 10-Q
Source: 0002055116-25-000018
Chunk: 88

Company: Kestrel Group Ltd
Filing Date: 2025-08-15
Form: 10-Q
Item: Item 1
Chunk 88
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(495)Net income69,533 (924)70,457 Basic and diluted earnings (loss) per common share:Net income attributable to Kestrel common shareholders(2)18.80 (0.34)19.14 Gross premiums written1,096 — 1,096 Net premiums earned2,422 — 2,422 Underwriting and fee income(3)6,295 357 5,938 Net investment results(9)2,623 118 2,505 Non-GAAP measures:Non-GAAP operating earnings (loss)(1)3,068 (924)3,992 Non-GAAP basic and diluted operating earnings (loss) per common share(1)0.80 (0.34)1.14 Annualized non-GAAP operating return on average shareholders' equity(1)8.0 %(34.6)%42.6 

 55

June 30, 2025December 31, 2024ChangeConsolidated Financial Condition($ in thousands except per share data)Total investments and cash and cash equivalents(4)$445,938 $4,286 $441,652 Total assets1,159,411 5,510 1,153,901 Reserve for loss and LAE723,432 — 723,432 Senior notes - principal amount262,361 — 262,361 Common shareholders' equity150,085 4,606 145,479 Total capital resources(5)412,446 4,606 407,840 Ratio of debt to total capital resources(8)63.6 %— %63.6 Book Value calculations:Book value per common share(6)$19.39 $1.67 $17.72 Diluted book value per common share(7)19.31 1.67 17.64 

(1)Non-GAAP operating earnings (loss), non-GAAP operating earnings (loss) per common share, and annualized non-GAAP operating return on average common shareholders' equity are non-GAAP financial measures. See "Key Financial Measures" for additional information. 

(2)Please refer to "Notes to Condensed Consolidated Financial Statements (unaudited) Note 12. Earnings per Common Share" for the calculation of basic and diluted income (loss) per common share.

(3)