Kestrel Group (KG)
Provides carrier-network services to insurance programs while managing legacy reinsurance runoff.
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Provides capacity-distribution, compliance, regulatory-reporting, and administrative services that connect program managers with a carrier network. It also manages a legacy reinsurance runoff portfolio, pairing a fee-based Program Services operation with Legacy Reinsurance.
Program Services provides capacity-distribution services to program managers and managing general agents, using a carrier network to place bound insurance coverage. Its work includes compliance, regulatory reporting, and administration, with fees tied to access and support rather than direct underwriting risk.
Legacy Reinsurance manages the inherited AmTrust and Diversified Reinsurance businesses. The latter is a runoff portfolio of third-party property-and-casualty reinsurance for regional and specialty insurers, primarily in Europe.
Formed by the combination of Kestrel Group LLC and Maiden in May 2025, the Bermuda-based public issuer trades on Nasdaq as KG. Program Services depends on carrier-network relationships and highly concentrated capacity-distribution revenue.
Company facts
Categories
No analyst consensus on record.
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $26.3M · Total debt $177.0M · Total assets $919.6M · Shareholders' equity $114.0M
- Revenue
- $6.7M
- Operating income
- −$8.2M
- Net income
- −$8.1M
No dividends on record.
| Institutions45 holders · as of Mar 31, 2026 | 15.32% | 1.20M shares | |
| Insiders10 holders · as of Jun 12, 2026 | 32.67% | 2.56M shares | |
| Strategic holders2 holders · as of May 27, 2025 | 1.65% | 129.4K shares | |
| Otherremainder | 50.36% | 3.94M shares |
7.82M company shares as of Sep 3, 2026 · institutions as of Mar 31, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Evidence |
|---|---|---|---|
Bradford Luke LedbetterInsiderdirector, 10 percent owner, officer: Chief Executive Officer | 13.28% | 1.04M | Form 4filed Mar 20, 2026 ↗ |
Terry Lee LedbetterInsiderdirector, 10 percent owner, officer: Executive Chairman | 13.28% | 1.04M | Form 4filed Mar 20, 2026 ↗ |
BlackRock, Inc.Institution | 3.60% | 281,453 | 13Fas of Mar 31, 2026 |
Patrick J. HaveronInsiderofficer: President and CFO | 3.45% | 270,214 | Form 4filed Mar 20, 2026 ↗ |
Vanguard Capital Management LLCInstitution | 3.35% | 261,803 | 13Fas of Mar 31, 2026 |
| See all 25 → | |||
13F — a manager's quarterly holdings · Form 4 — an insider's transaction report
Insider tradesForm 4
No open-market trades in the last 12 months.
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Kestrel Group | $7.64 | +0.39% | $60.7M | — | — | 1.3 | −98.8% |
| Markel Group | $1,816.06 | +0.02% | $22.50B | 10.0 | 15.8 | 1.3 | +17.6% |
| Palomar | $132.20 | +0.26% | $3.50B | 17.8 | 12.3 | 3.2 | +210.1% |
| Median | 13.9 | 14.1 | 2.3 | +113.8% |