Company: KG
Filing Date: 2025-03-10
Form Type: S-4
Source: 0001104659-25-021993
Chunk: 23

Company: Kestrel Group Ltd
Filing Date: 2025-03-10
Form: S-4
Chunk 23
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 Kestrel to offer both admitted and surplus lines, all of which have been rated “Excellent” by A.M. Best Company, Inc. (“A.M. Best”), a leading insurance industry credit rating agency, in addition to offering established and emerging products. Kestrel does not assume underwriting risks; instead, it earns a fee for granting access to insurance carriers. Kestrel produces lines that insure casualty, workers’ compensation, catastrophe-exposed property, and non-catastrophe-exposed property, with diverse risk durations, sizes, and product types, all within the United States. Kestrel’s principal executive offices are located at 8333 Douglas Avenue, Dallas, Texas, 75225. Kestrel’s telephone number is (469) 423-2763 and its website is www.kestrel.group. The information contained on the website, or that can be accessed through the website, is not incorporated by reference in this proxy statement/prospectus.

Ranger Bermuda Topco Ltd

Ranger Bermuda Topco Ltd, which we refer to as Bermuda NewCo, is an exempted company limited by shares incorporated under the laws of Bermuda. Bermuda NewCo was incorporated on December 24, 2024, solely for the purpose of effecting the transaction. Pursuant to the combination agreement, Maiden and Kestrel will each become indirect wholly owned subsidiaries of Bermuda NewCo and Bermuda NewCo will be a successor company to Maiden. As a result of the transaction, Bermuda NewCo common shares are expected to be listed for trading on Nasdaq, and the former Maiden shareholders and the former Kestrel equityholders will own shares in Bermuda NewCo. Bermuda NewCo has not carried on any activities other than in connection with the transaction. Bermuda NewCo’s registered office is located at Canon’s Court, 22 Victoria Street, Hamilton Pembroke HM12, Bermuda.

Ranger U.S. Newco LLC

Ranger U.S. Newco LLC, which we refer to as US NewCo, is a Delaware limited liability company and wholly owned subsidiary of Maiden Holdings, Ltd. US NewCo was incorporated on December 20, 2024, solely for the purpose of effecting the transaction. Pursuant to the combination agreement, the Kestrel equityholders will contribute their Class A units and Class B units in Kestrel to US NewCo, and following the first merger, Merger Sub II will merge with and into US NewCo with US NewCo surviving as a wholly

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