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Kestrel Group Ltd engages in provision of fronting services to insurance program managers, managing general agencies, reinsurers, and reinsurance brokers in Bermuda. The company operates through two segments: Program Services and Legacy Reinsurance. The company is based in Hamilton, Bermuda.
Rule-based from financial data. Not advice.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 3 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $32M | - | $47M | $-96M | 36.4% | 740.3% | -3719.3% |
| 2024 | $4M | $0M | $-1M | $-1M | -28.0% | 189.2% | -69.4% |
| 2023 | $1M | $-4M | $-4M | $-2M | -123.7% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2025 |
|---|---|
| Total Revenue | 32.33 |
| Operating Revenue | 32.33 |
| Cost Of Revenue | - |
| Gross Profit | - |
| Operating Expense | - |
| Selling General And Administration | 29.06 |
| Total Expenses | -17.26 |
| Operating Income | - |
| Total Operating Income As Reported | - |
| EBITDA | - |
| Normalized EBITDA | - |
| EBIT | 59.45 |
| Interest Income | - |
| Interest Expense | 9.86 |
| Net Interest Income | -9.86 |
| Interest Income Non Operating | - |
| Interest Expense Non Operating | 9.86 |
| Net Non Operating Interest Income Expense | -9.86 |
| Pretax Income | 49.58 |
| Tax Provision | 0.07 |
| Tax Rate For Calcs | 0 |
| Tax Effect Of Unusual Items | 0.07 |
| Net Income Continuous Operations | 49.54 |
| Net Income From Continuing And Discontinued Operation | 46.72 |
| Net Income From Continuing Operation Net Minority Interest | 49.54 |
| Net Income | 46.72 |
| Net Income Common Stockholders | 46.72 |
| Net Income Including Noncontrolling Interests | 46.72 |
| Normalized Income | -18.70 |
| Diluted NI Availto Com Stockholders | 46.72 |
| Basic Average Shares | 5.73 |
| Diluted Average Shares | 5.73 |
| Reconciled Cost Of Revenue | - |
| Total Unusual Items | 68.31 |
| Total Unusual Items Excluding Goodwill | 68.31 |
| Net Income Discontinuous Operations | -2.81 |
| Earnings From Equity Interest Net Of Tax | 0.02 |
| Special Income Charges | 68.31 |
| Restructuring And Mergern Acquisition | -68.31 |
| General And Administrative Expense | 29.06 |
| Other Gand A | 29.06 |
| Rent Expense Supplemental | - |
| Other Operating Expenses | - |
| Rent And Landing Fees | - |
| Loss Adjustment Expense | 8.99 |
| Net Policyholder Benefits And Claims | 8.99 |
| Policyholder Benefits Gross | 10.77 |
| Policyholder Benefits Ceded | 1.78 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Kestrel Group Ltdthis co. | KG | $88M | 1.88↓ discount | 0.69 | 36.4% | 796.59 |
| Patriot National Bancorp, Inc. | PNBK | $125M | -9.81 | 1.32 | -13.4% | - |
| Riverview Bancorp, Inc. | RVSB | $115M | 23.53 | 0.72 | 3.1% | - |
| Union Bankshares, Inc. | UNB | $106M | 9.60 | 1.32 | 13.7% | - |
| Sound Financial Bancorp, Inc. | SFBC | $100M |
| 13.92 |
| 0.91 |
| 6.5% |
| - |
| Silvercrest Asset Management Group Inc. | SAMG | $86M | 17.60 | 1.71 | 9.7% | 4.83 |
| Siebert Financial Corp. | SIEB | $81M | 15.75 | 0.90 | 5.7% | 8.30 |
| Vroom, Inc. | VRM | $53M | -1.00 | 0.45 | -45.5% | 279.15 |
| eHealth, Inc. | EHTH | $50M | 1.25 | 0.08 | 6.8% | 1.33 |
| Peer Median | - | 11.76 | 0.91 | 6.1% | 6.57 | |