Company: KG
Filing Date: 2025-08-11
Form Type: NT 10-Q
Source: 0001104659-25-076251
Chunk: 0

Company: Kestrel Group Ltd
Filing Date: 2025-08-11
Form: NT 10-Q
Chunk 0
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<div align='center'>UNITED STATES
SECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549

FORM 12b-25

NOTIFICATION OF LATE FILING</div>

| (Check one): | ¨ Form 10-K ¨ Form 20-F ¨ Form 11-K x  Form 10-Q ¨ Form 10-D ¨ Form N-CEN ¨ Form N-CSR 
 For Period Ended: June 30, 2025                                                        |
|:-------------|:---------------------------------------------------------------------------------------|
|              | ¨ Transition Report on Form 10-K                                                       |
|              | ¨ Transition Report on Form 20-F                                                       |
|              | ¨ Transition Report on Form 11-K                                                       |
|              | ¨ Transition Report on Form 10-Q                                                       |
|              | For the Transition Period Ended:                                                       |

| Read Instruction (on back page) Before Preparing Form. Please Print or Type.                                        
 Nothing in this form shall be construed to imply that the Commission has verified any information contained herein. |

If the notification relates to a portion of the filing checked above,
identify the Item(s) to which the notification relates:

PART I – REGISTRANT INFORMATION

| Kestrel Group Ltd                                         |
| Full Name of Registrant                                   |
| N/A                                                       |
| Former Name if Applicable                                 |
| 11 Bermudiana Road, Suite 1141                            |
| Address of Principal Executive Office (Street and Number) |
| Hamilton HM 11, Bermuda                                   |
| City, State and Zip Code                                  |

PART II – RULES 12b-25(b) AND (c)

If the subject report could not be filed without unreasonable effort
or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed. (Check box if appropriate)

|   | -a | The reason described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense;       |
| x | -b | The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-CEN or Form N-CSR,           
 or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly    
 report or transition report on Form 10-Q or subject distribution report on Form 10-D, or portion thereof, will