Company: KG
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001628280-25-049606
Chunk: 28

Company: Kestrel Group Ltd
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 1
Chunk 28
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 earned$6,836 $— $6,836 Fee revenue— 1,621 1,621 Net loss and LAE(10,406)— (10,406)Commission and other acquisition expenses(1,718)— (1,718)General and administrative expenses(3,689)(664)(4,353)Underwriting (loss) and fee income$(8,977)$957 $(8,020)Reconciliation to net loss from continuing operationsNet investment income and net realized and unrealized investment gains8,988 Interest and amortization expenses(4,128)Change in fair value of earn out liability2,679 Foreign exchange and other gains, net2,854 Other general and administrative expenses(6,430)Income tax expense(7)Interest in loss of equity method investments(24)Net loss from continuing operations$(4,088)For the Three Months Ended September 30, 2024Legacy ReinsuranceProgram ServicesTotalFee revenue$— $700 $700 General and administrative expenses— (590)(590)Fee income$— $110 $110 Reconciliation to net loss from continuing operationsNet investment income 52 Other general and administrative expenses(591)Net loss from continuing operations$(429)

 19

KESTREL GROUP LTD NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)(in thousands of U.S. dollars, except share and per share data)

3. Segment Information (continued)The following tables summarize the underwriting results of our reportable segments and the reconciliation of our reportable segments' underwriting results to consolidated net income (loss) from continuing operations for the nine months ended September 30, 2025 and 2024, respectively:For the Nine Months Ended September 30, 2025Legacy Reinsurance(1)Program ServicesTotalGross premiums written$4,856 $— $4,856 Net premiums written$4,990 $— $4,990 Net premiums earned$9,258 $— $9,258 Fee revenue— 2,972 2,972 Net loss and LAE(4,445)— (4,445)Commission and other acquisition expenses(2,112)— (2,112)General and administrative expenses(5,432)(2,003)(7,435)Underwriting (loss) and fee income$(2,731