Kestrel subsidiary GLS enters arbitration over reinsurance, seeks rescission and recovery of $10M

Kestrel Group Ltd

GLS demands arbitration after alleging multiple breaches by cedant; seeks full rescission of reinsurance agreements.
RPP coverage aggregate limits of $25.0M; ADC remaining aggregate limits of $25.5M.
GLS previously paid $10.8M in net losses under RPP; has liabilities of $4.0M and $7.5M reserves for RPP and ADC.
Premiums received: $9.7M for RPP, $9.8M for ADC; GLS stops paying certain invoices pending arbitration.
Decision expected Q1 2026; adverse outcome could be material to Kestrel's results or cash flows.

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