Company: KG
Filing Date: 2025-03-24
Form Type: S-4/A
Source: 0001104659-25-027242
Chunk: 146

Company: Kestrel Group Ltd
Filing Date: 2025-03-24
Form: S-4/A
Chunk 146
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 public accounting firm, nor any other independent accountants have compiled, examined or performed any audit or other procedures with respect to the Projections contained herein, nor have they expressed any opinion or any other form of assurance on the achievability of the Projections. Furthermore, the Projections do not take into account any circumstances or events occurring after the date on which they were prepared. Except to the extent required by applicable law, Maiden has no obligation to update the Projections included in this proxy statement/prospectus and has not done so and does not intend to do so. The Projections The summary below of the Projections is included in this proxy statement/prospectus solely to give Maiden shareholders access to these projections and is not being included in this proxy statement/ prospectus to influence any Maiden shareholder’s decision as to whether to vote in favor of the first merger. The following is a summary of the Projections:

| ($ amounts in millions) | ​ | ​ | 2024E(1) |   |       |   | ​ | ​ | ​ | 11/30/24AdjustedLTM(2) |   |       |   | ​ | ​ | ​ | 2025E |   |       |   | ​ | ​ | 2026E |   |         |   | ​ | ​ | 2027E |   |         |   | ​ | ​ | 2028E |   |         |   | ​ |
|:------------------------|:--|:--|:---------|:--|------:|:--|:--|:--|:--|:-----------------------|:--|------:|:--|:--|:--|:--|:------|:--|------:|:--|:--|:--|:------|:--|--------:|:--|:--|:--|:------|:--|--------:|:--|:--|:--|:------|:--|--------:|:--|:--|
| Gross Premiums Written  | ​ | ​ | ​        | $ | 143.3 | ​ | ​ | ​ | ​ | ​                      | $ | 510.0 | ​ | ​ | ​ | ​ | ​     | $ | 713.5 | ​ | ​ | ​ | ​     | $ | 1,042.8 | ​ | ​ | ​ | ​     | $ | 1,280.