Company: KG
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001628280-25-049606
Chunk: 38

Company: Kestrel Group Ltd
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 1
Chunk 38
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 52 329 170 3,561 52 5,128 170 Investment expenses(67)— (69)— Net investment income$3,494 $52 $5,059 $170 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 nine months ended September 30, 2025:For the Three Months Ended September 30, 2025Gross gainsGross lossesNetFixed maturities$624 $— $624 Equity securities159 — 159 Other investments5,376 (665)4,711 Net realized and unrealized investment gains (losses)$6,159 $(665)$5,494 For the Nine Months Ended September 30, 2025Gross gainsGross lossesNetFixed maturities$1,499 $(111)$1,388 Equity securities205 — 205 Other investments5,888 (929)4,959 Net realized and unrealized investment gains (losses)$7,592 $(1,040)$6,552 Realized and unrealized gains and losses from equity securities detailed above include both sales and distributions of equity securities and unrealized gains and losses coming from fair value changes. Net unrealized gains recognized for equity securities still held at the reporting date for the three and nine months ended September 30, 2025, respectively, included:For the Three Months Ended September 30,For the Nine Months Ended September 30, 20252025Net gains recognized for equity securities$159 $205 Net gains recognized for equity securities divested— — Net unrealized gains recognized for equity securities still held at the reporting date$159 $205 Proceeds from sales of AFS fixed maturity investments were $7,878 and $15,190 for the three and nine months ended September 30, 2025, respectively. 

 27

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)Net unrealized gains included in accumulated