Kestrel: Forming a New Specialty Insurance Powerhouse with Maiden
Deal News | May 28, 2025 | Re-Insurance News
Kestrel Group LLC and Maiden Holdings, Ltd. have successfully completed their merger, resulting in the formation of a new publicly listed specialty program group now known as Kestrel Group. The merger, which was originally announced in December 2024, received shareholder approval from Maiden Holdings just last month. The newly established Kestrel Group will commence trading on the Nasdaq under the ticker symbol KG on May 28th, 2025, following the discontinuation of Maiden shares. Emphasizing a values-driven approach, the new group aims to focus on innovation, client service, and building long-term relationships. Kestrel Group plans to continue operations through A.M. Best A- FSC XV-rated insurance carriers and retains the option to acquire these entities, currently subsidiaries of AmTrust Financial Group. Luke Ledbetter, Kestrel's CEO, expressed optimism about the merger, highlighting the move as a strategic step towards becoming a leading specialty program group across the nation. Patrick Haveron, President and CFO, noted the creation of a capital-light, fee-based platform that optimizes shareholder returns.
Sectors
- Insurance
- Financial Services
Geography
- United States – The activities and operations outlined in the article, including Nasdaq trading, are based in the United States.
Industry
- Insurance – The article discusses the merging of two entities into a new insurance-focused program group, making Insurance the primary sector.
- Financial Services – The merger discusses capital management strategies and fee-based operational structures relevant to Financial Services.
Financials
- N/A – Specific financial terms such as deal price or enterprise value are not provided in the article.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Kestrel Group LLC | Bidding Company | Company | Kestrel Group LLC is a key player in the merger and the newly formed entity trading on Nasdaq. |
| Maiden Holdings, Ltd. | Selling Company | Company | Maiden Holdings, Ltd. is the company merging with Kestrel Group and ceasing its Nasdaq trading. |
| AmTrust Financial Group | Other Companies | Company | Carrier that provides underwriting capacity and potential acquisition targets for Kestrel Group. |
| Luke Ledbetter | CEO | People | CEO of Kestrel Group, leading the business forward post-merger. |
| Patrick Haveron | President and CFO | People | President and CFO of Kestrel Group, involved in strategic planning post-merger. |