Company: KG
Filing Date: 2025-08-15
Form Type: 10-Q
Source: 0002055116-25-000018
Chunk: 379

Company: Kestrel Group Ltd
Filing Date: 2025-08-15
Form: 10-Q
Item: Item 2
Chunk 379
---
 more details.

Net Loss and LAE — Net loss and LAE were $0.8 million for the three and six months ended June 30, 2025. The net loss and LAE was impacted by net adverse PPD of $0.1 million for the three and six months ended June 30, 2025, respectively.

Commission and Other Acquisition Expenses — Commission and other acquisition expenses were $0.4 million for the three and six months ended June 30, 2025. This is driven by lower premiums written and earned by Maiden LF and GF as they are not writing any new business having entered into the AmTrust Renewal Rights Agreements in 2024.

General and Administrative Expenses — General and administrative expenses were $1.3 million for the three and six months ended June 30, 2025.

 63

 AmTrust Reinsurance Legacy Business: The underwriting results for AmTrust Reinsurance Legacy business for the three and six months ended June 30, 2025 were as follows:

For the Three and Six Months Ended June 30,2025Gross premiums written$(285)Net premiums written$(285)Net premiums earned$1,032 Net loss and LAE6,800 Commission and other acquisition expenses(16)General and administrative expenses(455)Underwriting income$7,361 

The negative written premiums for the three and six months ended June 30, 2025 reflect the termination of the AmTrust Quota Share and the European Hospital Liability Quota Share as of January 1, 2019 which has resulted in no new business written under these contracts since 2018. The table below provides detail on net premiums earned in the three and six months ended June 30, 2025: 

For the Three and Six Months Ended June 30,2025($ in thousands)TotalNet Premiums EarnedSmall Commercial Business$(7)Specialty Risk and Extended Warranty1,039 Total AmTrust Reinsurance$1,032 

Net Loss and LAE — Net loss and LAE expenses of $6.8 million for the three and six months ended June 30, 2025 was largely due to favorable PPD of $7.9 million. The table below shows PPD for the AmTrust Reinsurance Legacy business for the three and six months ended June 30, 2025: 

For the Three and Six Months Ended June 30,2025Prior Year Loss Development adverse (favor