PR Newswire·Nov 6, 2026, 4:15 PM ET

Kestrel Group Reports Third Quarter 2026 Financial Results

Kestrel Group Ltd reported a net loss of $16.4 million ($2.09 per share) for the third quarter ended September 30, 2026.
Program Services fee income reached $2.9 million, a 203% increase year-over-year, with a 71% margin on fee revenue.
Program Services fee revenue totaled $4.1 million, up 151% year-over-year, driven by growth in existing & new client accounts.
Premium produced by Program Services clients was $121.2 million, representing a 132% increase year-over-year.
Total revenues for the quarter were $4.8 million, while net premiums earned were $1.9 million.
Book value per common share was $12.44 as of September 30, 2026.
The Legacy Reinsurance segment reported an underwriting loss of $6.4 million, comprised of a $0.1 million gain from AmTrust business & a $6.5 million loss from Diversified business.
The Diversified business loss included $3.1 million in loss development on German Auto quota share & a $2.4 million settlement of a Genesis Legacy Solutions claim.
General & administrative expenses were $11.4 million, compared to $11.8 million in the prior year quarter.
The Company is pursuing expense reduction initiatives targeting approximately $5 million in run-rate savings over the next year.
Total assets were $879.6 million, with shareholders' equity at $97.8 million.
The Company holds $477.8 million in net operating loss carryforwards, with $87.6 million having no expiry date.
Investment activities resulted in a net loss of $1.3 million due to $3.6 million in realized & unrealized investment losses offset by $2.3 million in investment income.

Company: Kestrel Group Ltd
Keywords: Kestrel Group Ltd