(RTTNews) - Kestrel Group Ltd. (KG), a specialty insurance platform, reported Friday a loss in its fourth quarter, compared to prior year's profit on charges, despite strong growth in revenues.
In the fourth quarter, net loss attributable to shareholders was $17.76 million or $2.29 per share, compared to profit of $0.062 million or $0.02 per share last year.
Excluding $1.35 million loss from discontinued operations, the latest quarter's net loss from continuing operations was $16.40 million or $2.12 per share.
The company noted that the net loss was mainly driven by significant non-recurring charges totaling $3.5 million and a downward adjustment to the bargain purchase gain of $5.3 million recorded in the combination with Maiden Holdings, Ltd. in 2025.
Adjusted operating loss was $8.19 million for the fourth quarter, compared to profit of $0.062 million a year ago.
Total revenues surged to $10.21 million from $1.22 million last year. Net premiums earned were $3.42 million.
On Nasdaq, Kestrel shares closed Thursday's regular trading 3.8 percent lower at $11.00.
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