Company: KG
Filing Date: 2025-03-10
Form Type: S-4
Source: 0001104659-25-021993
Chunk: 306

Company: Kestrel Group Ltd
Filing Date: 2025-03-10
Form: S-4
Chunk 306
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 |   |   | ​ | ​ | Ending NOLCarryforward |   |         |   | ​ |
|:------|:--|:--|:--------------------------|:--|--------:|:--|:--|:--|:-------------|:--|---------:|:--|:--|:--|:------------|:--|:--|:--|:--|:--|:-----------------------|:--|--------:|:--|:--|
| 2022  | ​ | ​ | ​                         | $ | 387,179 | ​ | ​ | ​ | ​            | $ | -299,689 | ​ | ​ | ​ | ​           | $ | — | ​ | ​ | ​ | ​                      | $ |  87,490 | ​ | ​ |
| 2023  | ​ | ​ | ​                         | ​ | 270,755 | ​ | ​ | ​ | ​            | ​ |        — | ​ | ​ | ​ | ​           | ​ | — | ​ | ​ | ​ | ​                      | ​ | 270,755 | ​ | ​ |
| Total | ​ | ​ | ​                         | ​ | 657,934 | ​ | ​ | ​ | ​            | ​ | -299,689 | ​ | ​ | ​ | ​           | ​ | — | ​ | ​ | ​ | ​                      | ​ | 358,245 | ​ | ​ |

Note 6. Retirement Savings Plan The Company has a 401(k) retirement savings plan (the Plan) covering substantially all employees. Employees are eligible for the Plan after one month of service with the Company. Participants are 100% vested in their contributions. The Company matches 100% of the first 1% and 50% of the next 5% of employee contributions. Matching contributions totaled approximately $64,000 and $60,000 for the years ended December 31, 2024 and 2023, respectively. These amounts are presented in Salaries and benefits in the consolidated statement of operations. Note 7. Related-Party Transactions As part of the July 26, 2022 Unit Purchase Agreement, AmTrust North America Inc. acquired a 30% minority interest in the Company with the option for the Company to purchase certain insurance carriers

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owned by AmTrust North America Inc. The Company also receives professional and administrative services through an expense