PR Newswire·Aug 7, 2026, 8:30 AM ET

Kestrel Group Reports Second Quarter 2026 Financial Results

Kestrel Group Ltd reported a net loss of $8.1 million ($1.03 per share) for the second quarter ended June 30, 2026, compared to net income in the same period of 2025.
Total revenues for the quarter reached $6.7 million, while program services fee revenue increased to $3.7 million.
Premium produced by program services clients totaled $109.6 million in the second quarter, representing a 479.8% increase over the second quarter of 2025.
Book value per common share was $14.57 as of June 30, 2026, down from $16.57 at the end of 2025.
The program services segment saw fee income of $2.4 million for the quarter, with six-month fee revenue reaching $6.9 million, a 382.5% increase year-over-year.
The legacy reinsurance segment recorded an underwriting loss of $1.3 million for the quarter, driven by $0.7 million in adverse prior period loss development related to foreign currency fluctuations.
Investment activities resulted in a combined loss of $0.5 million for the quarter due to net realized and unrealized investment losses of $3.0 million offset by $2.5 million in net investment income.
The company recognized $2.3 million in foreign exchange and other gains, primarily from a $1.8 million revaluation of a contingent receivable.
General and administrative expenses totaled $10.5 million for the three months ended June 30, 2026.
Total assets were $919.6 million with shareholders' equity at $114.0 million as of June 30, 2026.
The company holds $471.6 million in net operating loss carryforwards, with approximately $88.2 million having no expiry date under U.S. tax law.