Company: KG
Filing Date: 2025-06-03
Form Type: S-8
Source: 0001104659-25-056034
Chunk: 2

Company: Kestrel Group Ltd
Filing Date: 2025-06-03
Form: S-8
Chunk 2
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 of this registration statement, taken together, 
 constitute a prospectus that meets the requirements of Section 10(a) of the Securities Act.                                              |

<div align='center'>Part II

INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</div>

Item 3. Incorporation of Documents by Reference.

The Company hereby incorporates by reference into
this registration statement the following documents:

| (a) | The Company’s prospectus, dated March 26, 2025, filed with the SEC pursuant to Rule 424(b) under the Securities Act, in connection with the Company’s registration statement on Form S-4, as amended (File No. 333-285664); |

In addition, all documents subsequently filed by
the Company pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act, prior to the filing of a post-effective amendment
to this registration statement which indicates that all securities offered have been sold or which deregisters all securities then remaining
unsold, shall be deemed to be incorporated by reference in this registration statement and to be part hereof from the date of filing of
such documents with the SEC.

Any statement contained in a document incorporated
or deemed to be incorporated by reference in this registration statement shall be deemed to be modified or superseded for purposes of
this registration statement to the extent that a statement contained in this registration statement, or in any other subsequently filed
document that also is or is deemed to be incorporated by reference in this registration statement, modifies or supersedes such prior statement.
Any statement contained in this registration statement shall be deemed to be modified or superseded to the extent that a statement contained
in a subsequently filed document that is or is deemed to be incorporated by reference in this registration statement modifies or supersedes
such prior statement. Any statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute
a part of this registration statement.

Under no circumstances will any information furnished
under Items 2.02 or 7.01 of Current Report on Form 8-K be deemed incorporated herein by reference unless such Form 8-K expressly
provides to the contrary.

Item 4. Description of Securities.

Not applicable.

Item 5. Interests of Named Experts and Counsel.

Not applicable.

Item 6. Indemnification of Directors and Officers.

The Registrant is a Bermuda exempted company limited
by shares. Section 98 of the Companies Act 1981