Maiden Holdings Shareholders Approve Combination with Kestrel
Deal News | Apr 30, 2025 | Re-Insurance News
Maiden Holdings has gained shareholder approval to proceed with a business combination with Kestrel Group LLC, which was initially announced in December 2024. Both entities plan to form a new publicly listed specialty program group under a Bermuda-based company, tentatively named Bermuda NewCo, expected to trade on the Nasdaq Capital Market under the ticker symbol KG. The deal, anticipated to finalize in Q2 2025, is contingent on regulatory clearances and customary closing conditions. This merger represents a strategic shift for Maiden Holdings, reflecting its evolving vision in the insurance sector.
Sectors
- Insurance
- Financial Services
Geography
- Bermuda – The new company after the merger will be based in Bermuda.
- United States – The new entity plans to be listed on Nasdaq, which is based in the United States.
Industry
- Insurance – The article details a merger in the insurance sector between Maiden Holdings and Kestrel Group.
- Financial Services – The transaction involves the creation of a new publicly listed entity in the financial services industry.
Financials
- Not specified – Financial details or the valuation of the merger were not disclosed in the article.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Maiden Holdings | Target Company | Company | An insurance holding company involved in the merger with Kestrel Group LLC. |
| Kestrel Group LLC | Bidding Company | Company | A company set to merge with Maiden Holdings to form a new entity. |
| Bermuda NewCo | New Entity | Company | The tentative new company name post-merger, which will be renamed Kestrel Group Ltd. |