Company: KG
Filing Date: 2025-08-11
Form Type: NT 10-Q
Source: 0001104659-25-076251
Chunk: 2

Company: Kestrel Group Ltd
Filing Date: 2025-08-11
Form: NT 10-Q
Chunk 2
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| (2) | Have all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment 
 Company Act of 1940 during the preceding 12 months or for such shorter period that the registrant was required to file such report(s)     
 been filed? If answer is no, identify report(s). Yes x No ¨                                                                               |

| (3) | Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will 
 be reflected by the earnings statements to be included in the subject report or portion thereof? Yes ¨ No x                        |

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<div align='center'>Kestrel Group Ltd

(Name of registrant as Specified in Charter)</div>

has caused this notification to be signed on its behalf by the undersigned
hereunto duly authorized.

Date: August 11, 2025

| By:    | /s/ Bradford Luke Ledbetter |
| Name:  | Bradford Luke Ledbetter     |
| Title: | Chief Executive Officer     |

INSTRUCTION: The form may be signed by an executive officer of the
registrant or by any other duly authorized representative. The name and title of the person signing the form shall be typed or printed
beneath the signature. If the statement is signed on behalf of the registrant by an authorized representative (other than an executive
officer), evidence of the representative’s authority to sign on behalf of the registrant shall be filed with the form.

<div align='center'>ATTENTION
Intentional misstatements or omissions of fact constitute Federal Criminal Violations (See 18 U.S.C. 1001).</div>

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