Quarterly ResultMay 8, 2026, 04:24 PM
Kestrel Group Q1 Net Loss $(7.43)M; EPS $(0.96)
AI Summary
Kestrel Group Ltd. reported a net loss of $(7.43) million for Q1 2026, significantly wider than the $(0.39) million loss in Q1 2025, with diluted loss per share increasing to $(0.96) from $(0.14). Total revenues surged to $10.19 million from $0.84 million, driven by net premiums earned and fee revenue from its Program Services segment. The company's financial statements reflect its transition to an insurance company following the May 2025 reverse acquisition of Maiden Holdings, Ltd., which also resulted in a bargain purchase gain of $68.31 million.
Key Highlights
- Net loss widened to $(7.43) million in Q1 2026 from $(0.39) million in Q1 2025.
- Diluted loss per share increased to $(0.96) in Q1 2026 from $(0.14) in Q1 2025.
- Total revenues grew to $10.19 million in Q1 2026 from $0.84 million in Q1 2025.
- Program Services segment reported $3.12 million in fee revenue and $1.61 million in fee income.
- Legacy Reinsurance segment reported $2.65 million in gross premiums written.
- Total assets decreased to $964.23 million as of March 31, 2026, from $1,009.96 million.
- Total shareholders' equity decreased to $121.44 million as of March 31, 2026.
- Recognized a bargain purchase gain of $68.31 million from the Maiden acquisition.
Price Impact
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