Company: KG
Filing Date: 2025-06-24
Form Type: 8-K
Source: 0002055116-25-000007
Chunk: 0

Company: Kestrel Group Ltd
Filing Date: 2025-06-24
Form: 8-K
Item: Item 4.01
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Item 4.01 Changes in Registrant’s Certifying Accountant.

(a) Dismissal of Independent Registered Public Accounting Firm

On June 18, 2025, the independent registered public accounting firm previously engaged by Kestrel Group Ltd ("Kestrel" or the "Company"), Frazier & Deeter, LLC (“ F& D”), was dismissed, effective June 18, 2025.

Kestrel did not have any (i) disagreements (as such term is defined in Instruction 4 to Item 304 of Regulation S-K) with F& D during the two most recent fiscal years or in 2025 on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedures, which disagreements, if not resolved to F& D’s satisfaction, would have caused F& D to make reference to the subject matter of the disagreements in their reports on Kestrel’s consolidated financial statements for such years or (ii) any "reportable events" (as such term is defined in Item 304(a)(1)(v) of Regulation S-K) other than the material weaknesses identified relating to certain of Kestrel’s internal controls for the fiscal year ended December 31, 2024. F& D’s report on Kestrel’s financial statements for the years ended December 31, 2024 and 2023 did not contain any adverse opinion, disclaimer of opinion, qualification or modification.

Kestrel provided F& D with a copy of this Current Report on Form 8-K prior to its filing with the SEC and requested that F& D furnish it with a letter addressed to the SEC stating whether or not it agrees with the above statements. A copy of F& D’s letter, dated as of June 23, 2025, is filed as Exhibit 16.1 to this Current Report on Form 8-K.

(b) Engagement of New Independent Registered Public Accounting Firm

On June 18, 2025, the audit committee of the board of directors of Kestrel approved the engagement of Ernst & Young LLP ("E& Y") as Kestrel's new independent registered public accounting firm for the year ending December 31, 2025, and interim periods ending after May 27, 2025, effective as of Kestrel’s dismissal of F& D.

Prior to Kestrel's acquisition of Maiden Holdings, Ltd. ("Maiden"), E& Y was engaged as the independent registered public accounting firm of Maiden, to audit