Company: KG
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001628280-25-049606
Chunk: 29

Company: Kestrel Group Ltd
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 1
Chunk 29
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)$969 $(1,762)Reconciliation to net incomeNet investment income and net realized and unrealized investment gains11,611 Interest and amortization expenses(5,647)Gain on bargain purchase73,590 Foreign exchange and other losses, net(2,155)Other general and administrative expenses(9,571)Income tax expense(102)Interest in loss from equity method investments(24)Net income from continuing operations$65,940 (1) Legacy Reinsurance underwriting results only include the post-combination period of May 28, 2025 to September 30, 2025.For the Nine Months Ended September 30, 2024Legacy ReinsuranceProgram ServicesTotalFee revenue$— $2,457 $2,457 General and administrative expenses— (1,990)(1,990)Fee income$— $467 $467 Reconciliation to net lossNet investment income 170 Other general and administrative expenses(1,990)Net loss from continuing operations$(1,353)

 20

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 financial position of the Company's reportable segments including a reconciliation to the Company's consolidated total assets at September 30, 2025 and December 31, 2024:September 30, 2025Legacy ReinsuranceProgram ServicesTotalReinsurance balances receivable, net$9,706 $— $9,706 Reinsurance recoverable on unpaid losses492,790 — 492,790 Deferred commission and other acquisition expenses— — — Loan to related party101,689 — 101,689 Intangible assets10,370 — 10,370 Restricted cash and cash equivalents and investments211,533 2,182 213,715 Funds withheld receivable11,941 — 11,941 Other assets(1)104 1,605 1,709 Total assets - reportable segments838,133 3,787 841,920 Corporate assets— — 269,365 Assets held for sale— — 19,155 Total Assets$838,133 $3,787 $1,130,440 December 31, 2024Legacy