Company: KG
Filing Date: 2025-08-15
Form Type: 10-Q
Source: 0002055116-25-000018
Chunk: 283

Company: Kestrel Group Ltd
Filing Date: 2025-08-15
Form: 10-Q
Item: Item 8
Chunk 283
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2 million for the six months ended June 30, 2025 compared to $1.4 million in 2024. Corporate expenses increased primarily due to $1.7 million of non-recurring employee separation costs; and

•foreign exchange and other losses of $5.0 million for the six months ended June 30, 2025 compared to foreign exchange and other losses of $0.0 million earned in 2024, largely due to significant weakening of the U.S dollar on the re-measurement of net loss reserves and insurance related liabilities denominated in the British pound and euro.

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Net Premiums Written 

Net premiums written by our reportable segment, reconciled to the total consolidated net premiums written for the three and six months ended June 30, 2025 and 2024 are detailed below:  

For the Three and Six Months Ended June 30,20252024Change in($ in thousands)TotalTotal$Diversified Legacy Business$1,380 $— $1,380 AmTrust Reinsurance Legacy Business(285)— (285)Total Legacy Reinsurance Segment(1)$1,095 $— $1,095 

(1) Legacy Reinsurance segment results only include the post-combination period of May 28 to June 30, 2025.

Net premiums written for the three and six months ended June 30, 2025 increased to $1.1 million:

•Premiums written in the Diversified Reinsurance legacy business was $1.4 million for the three and six months ended June 30, 2025. As discussed in Note 14. Assets Held for Sale of the Notes to Condensed Consolidated Financial Statements in Part I Item 1. "Financial Information", Maiden LF and Maiden GF are no longer writing new business and their non-underwriting related assets and liabilities are presented as held-for-sale in our condensed consolidated financial statements.

•Negative premiums written in the AmTrust Reinsurance legacy business were $0.3 million for the three and six months ended June 30, 2025. The cessation of active reinsurance underwriting on prospective risks included the termination of the AmTrust Quota Share and European Hospital Liability Quota Share effective January 1, 2019.

Please refer to the analysis below of our Diversified Reinsurance and AmTrust Reinsurance Legacy Business in the  Legacy Reinsurance segment for further details. 

Net Premiums Earned 

Net premiums earned were $