Company: KG
Filing Date: 2025-08-15
Form Type: 10-Q
Source: 0002055116-25-000018
Chunk: 224

Company: Kestrel Group Ltd
Filing Date: 2025-08-15
Form: 10-Q
Item: Item 8
Chunk 224
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 investments$106,192    $125 1. The Company included summarized financial data of its equity method investees for the three months ended March 31, 2025 as this period represents the most recent audited financial statements available at the time of filing the Company's Form 10-Q for the three and six months ended June 30, 2025.2.Fair value adjustments have been recorded under realized and unrealized gains (losses) for those equity method investments reported at fair value.3.Seiden LP and Seiden MGMT LP are measured using equity method accounting at June 30, 2025.

 25

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

4. Investments (continued)c)Net Investment Income Net investment income was derived from the following sources for the three and six months ended June 30, 2025 and 2024: For the Three Months Ended June 30,For the Six Months Ended June 30,2025202420252024Fixed maturities$614 $— $614 $— Income on funds withheld20 — 20 — Interest income from net loan receivable from AmTrust659 — 659 — Other investments84 — 84 — Cash and cash equivalents156 54 190 118 1,533 54 1,567 118 Investment expenses(2)— (2)— Net investment income$1,531 $54 $1,565 $118 d)  Net Realized and Unrealized Investment Gains (Losses)Realized gains or losses on the sale of investments are determined on the basis of the first in first out cost method. The following tables show the net realized and unrealized investment gains (losses) included in the Condensed Consolidated Statements of Income for the three and six months ended June 30, 2025:For the three and six months ended June 30, 2025Gross gainsGross lossesNetFixed maturities$875 $(111)$764 Equity securities46 — 46 Other investments512 (264)248 Net realized and unrealized investment gains (losses)$1,433 $(375)$1,058 Realized and unrealized gains and losses from equity securities detailed above include both sales