KG
Kestrel Group Ltd10.86
+0.45+4.27%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
No earnings call transcript available
Key Stats
Market Cap
84.08MP/E (TTM)
1.24Basic EPS (TTM)
8.73Dividend Yield
0%Recent Filings
8-K
Execs get $1.95M RSAs each
Kestrel Group's Compensation Committee approved $650,000 RSAs each to executives Terry Ledbetter, Bradford Ledbetter, and Haveron for fiscal 2026, plus $1.3M catch-up awards each for fiscal 2025, all granting March 18 and vesting over 1-3 years under the 2025 Equity Incentive Plan. Mr. Haveron's prior Maiden performance awards got cancelled as unachievable. Aligns top talent post-business combination.
10-K
FY2025 results
Kestrel Group posted FY2025 fee income of $2.8M from Program Services on $188M premium produced, up 162% y/y, while Legacy Reinsurance ran off with $12.7M net premiums earned but a $10.3M underwriting loss driven by $6.2M non-recurring charges and adverse development. Q4 momentum showed fee revenue acceleration from new sub-programs, yet reinsurance claims runoff pressured results. Unrestricted liquidity stood at $16.3M after Combination cash outflows; no 2026 guidance disclosed. Debt service weighs heavy. Cavello recoverables remain disputed.
8-K
Haveron employment deal extended
Kestrel Group amended and restated Patrick Haveron's employment agreement as President and CFO on February 10, 2026, locking in his $950,000 base salary and up to 100% bonus through May 1, 2028, with automatic five-year renewals absent notice. Severance covers full remaining term pay on termination without cause or for good reason. Restrictive covenants bind him post-employment.
8-K
GLS arbitration seeks rescission
Kestrel Group's subsidiary GLS launched arbitration on November 26, 2025, against a ceding company, alleging breaches and seeking full rescission of a reinsurance contract with $25M RPP and $25.5M ADC limits. GLS has paid $10.8M net losses, holds $4M RPP and $7.5M ADC reserves, after receiving ~$9.8M premiums each. Arbitration hearing done; decision due Q1 2026. Uncertain outcome risks material hit to results.
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