---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-078918"
form_type: "8-K/A"
ticker: "KG"
cik: "0002055116"
company_name: "Kestrel Group Ltd"
filed_at: "2025-08-15T23:59:59+00:00"
generated_at: "2026-05-17T12:37:48.142704+00:00"
event_type: "m_and_a"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Kestrel Group files post-merger financials; revenue restated, Q1 2025 revenue down 32%

## Summary
- Merger with Maiden Holdings closed May 27, 2025; Kestrel now part of Bermuda NewCo.
- Revenue restatement due to ASC 606 timing error; cumulative retained earnings increase $813,594 as of Jan 1, 2025.
- Q1 2025 revenue $807K vs $1.18M in Q1 2024 (-32%); net loss $394K vs $377K.
- Q1 2025 provision for income taxes $92,462; no tax provision in Q1 2024.

## SEC filing metadata
- accession: 0001104659-25-078918
- form_type: 8-K/A
- ticker: KG
- cik: 0002055116
- company_name: Kestrel Group Ltd
- filed_at: 2025-08-15T23:59:59+00:00
- event_type: m_and_a
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 9.01, 2.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/2055116/000110465925078918/0001104659-25-078918-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/2055116/000110465925078918/tm2522966d1_8ka.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-078918
- JSON: https://secwatch.observer/filing/0001104659-25-078918.json
- Plain text: https://secwatch.observer/filing/0001104659-25-078918.txt

## Key facts
- M&A Transactions
  Kestrel Group Ltd underwent a change of control involving Maiden Holdings, Ltd. (closed 2025-05-27).
  - Action: change of control
  - Counterparty: Maiden Holdings, Ltd.
  - Closing: 2025-05-27
  source text: the consummation on May 27, 2025 of the series of mergers contemplated by the combination agreement, dated December 29, 2024, by and between Maiden Holdings, Ltd., Kestrel Group LLC, a Delaware limited liability company (“Kestrel”), the equity holders of Kestrel, Ranger Bermuda Topco Ltd, a Bermuda exempted company limited by shares, and the other parties thereto.
  evidence_url: https://www.sec.gov/Archives/edgar/data/2055116/000110465925078918/0001104659-25-078918-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.