KG: Fee growth advanced, but investment losses and legacy runoff drove a $31.9m 9M loss
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Q3 loss widened as investment losses and corporate costs outweighed stronger Program Services fees and improved legacy underwriting. For 9M, fee growth was substantial, but legacy runoff, adverse reserve development and lower investment returns drove a $31.9m loss.
Original document: Kestrel Group, Ltd. [KG] SEC 10-Q Quarterly Report — Nov. 6 2026
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