Company: KG
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001628280-25-049606
Chunk: 334

Company: Kestrel Group Ltd
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 2
Chunk 334
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 reconciliation to nearest GAAP measure and discussion of relevant non-GAAP measures used by management are as follows: 

For the Three Months Ended September 30,20252024($ in thousands except per share data)Net loss attributable to Kestrel common shareholders$(5,053)$(429)Add (subtract):Net realized and unrealized investment gains(5,494)— Foreign exchange and other gains(2,854)— Interest in loss of equity method investments24 —  Net loss from discontinued operations965 — Change in fair value of earn out consideration(2,679)— Non-GAAP operating loss$(15,091)$(429)Diluted (loss) per share attributable to common shareholders$(0.65)$(0.16)Add (subtract):Net realized and unrealized investment gains(0.71)— Foreign exchange and other gains(0.37)— Interest in loss of equity method investments— — Net loss from discontinued operations, net of income tax0.13 — Change in fair value of earn out consideration(0.35)— Non-GAAP diluted operating loss per share attributable to common shareholders$(1.95)$(0.16)For the Nine Months Ended September 30,20252024($ in thousands except per share data)Net income (loss) attributable to Kestrel common shareholders$64,480 $(1,353)Add (subtract):Net realized and unrealized investment gains(6,552)— Foreign exchange and other losses2,155 — Interest in loss of equity method investments24 — Bargain purchase gain(73,590)—  Net loss from discontinued operations1,460 — Non-GAAP operating loss$(12,023)$(1,353)Diluted earnings (loss) per share attributable to common shareholders$12.70 $(0.49)Add (subtract):Net realized and unrealized investment gains(1.29)— Foreign exchange and other losses0.44 — Interest in loss of equity method investments0.01 — Bargain purchase gain(14.54)—  Net loss from discontinued operations0.30 — Non-GAAP diluted operating loss per share attributable to common shareholders$(2.38)$(0.49)

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Currency and Foreign Exchange 

We conduct business in a variety of foreign (non-U.S.) currencies, exclusively in our Legacy Reinsurance segment, the principal exposures being the