Kestrel Group Ltd KG
On May 27, 2025, Kestrel Group LLC ("Kestrel LLC") and Maiden Holdings, Ltd. ("Maiden") completed their previously announced combination ("Combination"), forming a new, publicly listed specialty program group operating under the name Kestrel Group Ltd ("Kestrel Group" or "Parent Company"). The Combination was previously announced on December 30, 2024. Maiden shares ceased trading on the NASDAQ Capital Market ("Nasdaq") at close of market on May 27, 2025. Kestrel shares began trading on the Nasdaq at open of market on May 28, 2025 under the ticker symbol "KG". Upon the closing of the Transactions (the "Closing"), Maiden and Kestrel LLC are now wholly owned subsidiaries of the Company, which was rebranded as Kestrel Group and renamed "Kestrel Group Ltd" ("Kestrel").
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Revenue | $34.0M | $3.8M | — |
| SG&A | $29.1M | $5.1M | — |
| Total operating expenses | $14.1M | $2.6M | — |
| Pre-tax income | $49.6M | -$1.3M | — |
| Income tax | $68.0K | $30.0K | — |
| Net income | $46.7M | -$1.3M | — |
| EPS, basic | 8.08 | -0.47 | — |
| EPS, diluted | 8.08 | -0.47 | — |
| Shares, diluted (wtd. avg.) | 5.7M | 2.7M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Cash and equivalents | $7.8M | $4.3M | $5.6M |
| Short-term investments | $0 | $0 | — |
| Property, plant and equipment | $674.0K | $0 | — |
| Total assets | $1.01B | $5.5M | — |
| Long-term debt | $174.4M | $0 | — |
| Total liabilities | $881.7M | $904.0K | — |
| Retained earnings | $1.2M | -$5.5M | — |
| Total equity | $128.3M | $4.6M | — |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Operating cash flow | -$96.1M | -$1.3M | — |
| Depreciation and amortisation | $94.0K | $0 | — |
| Investing cash flow | $146.9M | $0 | — |
| Financing cash flow | -$40.0M | $0 | — |
| Dividends paid | $40.0M | $0 | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-027033.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Revenue | — | $3.8M | $34.0M |
| Gross profit | — | — | — |
| Net income | — | -$1.3M | $46.7M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
- Auditor changed The company changed auditors. Sometimes routine; historically one of the more reliable warnings that something is wrong. Item 4.01
- Officer or director change Item 5.02
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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