Company: KG
Filing Date: 2025-03-24
Form Type: S-4/A
Source: 0001104659-25-027242
Chunk: 88

Company: Kestrel Group Ltd
Filing Date: 2025-03-24
Form: S-4/A
Chunk 88
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 financial information does not purport to project the future financial condition and results of operations of the combined company.

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TABLE OF CONTENTS

UNAUDITED PRO FORMA CONDENSED CONSOLIDATED COMBINED
BALANCE SHEET AS OF DECEMBER 31, 2024
(in thousands)

| ​                                                       
 ​                                                       
 ​                                                       
 Assets                                                  | ​ 
 ​ 
 ​ 
 ​ | ​ 
 ​ 
 ​ 
 ​ | Historical 
 Kestrel    
 5(A)       
 ​          | ​ |      ​ | ​ | ​ 
 ​ 
 ​ | ​ 
 ​ 
 ​ | Maiden 
 5(B)   
 ​      | ​ |         ​ | ​ | ​ 
 ​ 
 ​ 
 ​ | ​ 
 ​ 
 ​ | TransactionAccountingAdjustments 
 ​                                
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 ​ |        ​ 
        ​ | ​ 
 ​ | ​ 
 ​ 
 ​ | ​ 
 ​ 
 ​ | ​ 
 ​ 
 ​ | ​ 
 ​ 
 ​ | ​    
 ​    
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 ​ 
 ​ | ​ 
 ​ 
 ​ | ​ 
 ​ 
 ​ | Pro FormaBalanceSheet 
 ​                     
 ​                     | ​ 
 ​ |         ​ 
         ​ | ​ 
 ​ | ​ 
 ​ 
 ​ |
|:--------------------------------------------------------|:--|:--|:-----------|:--|-------:|:--|:--|:--|:-------|:--|----------:|:--|:--|:--|:---------------------------------|:--|---------:|:--|:--|:--|:--|:--|:-----|:--|:--|:--|:----------------------|:--|----------:|:--|:--|
| Fixed maturities, available-for-sale, at fair value     | ​ | ​ | ​          | $ |      — | ​ | ​ | ​ | ​      | $ |   232,613 | ​ | ​ | ​ | ​                                | $ |        — | ​ | ​ | ​ | ​ | ​ | ​    | ​ | ​ | ​ | ​                     | $ |   232,613 | ​ | ​ |
| Equity securities, at fair value                        | ​ | ​ | ​          | ​ |      — | ​ | ​ | ​ | ​      | ​ |    13,147 | ​ | ​ | ​ | ​                                | ​ |        ​