---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-25-049605"
form_type: "8-K"
ticker: "KG"
cik: "0002055116"
company_name: "Kestrel Group Ltd"
filed_at: "2025-11-05T23:59:59+00:00"
generated_at: "2026-05-17T00:26:24.256758+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Kestrel Group Q3 net loss $5.1M; legacy reinsurance underwriting loss $9.0M

## Summary
- Net loss of $5.1M ($0.65 diluted EPS); total revenues $17.4M, net premiums earned $6.8M.
- Legacy Reinsurance segment underwriting loss $9.0M; $7.6M from AmTrust due to adverse prior-period development of $6.9M.
- Adverse development includes $4.7M from Hospital Liability and $3.6M from LPT/ADC Agreement reduction.
- Non-GAAP operating loss $15.1M ($1.95/share); G&A expenses $10.8M with $1.9M one-time costs expected to trend lower.
- Book value per share $18.57 (vs $1.67 at Dec 2024); NOL carryforwards $446.6M.

## SEC filing metadata
- accession: 0001628280-25-049605
- form_type: 8-K
- ticker: KG
- cik: 0002055116
- company_name: Kestrel Group Ltd
- filed_at: 2025-11-05T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/2055116/000162828025049605/0001628280-25-049605-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/2055116/000162828025049605/kg-20251105.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-25-049605
- JSON: https://secwatch.observer/filing/0001628280-25-049605.json
- Plain text: https://secwatch.observer/filing/0001628280-25-049605.txt

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