Kestrel Group, a specialty insurance and reinsurance platform, has announced its financial results for the second quarter of 2026, reporting $6.7 million in total revenues despite seeing a net loss of $8.1 million.
Q2 2026 revenues were up compared to the $5.5 million reported in Q2 2025. The quarter’s net loss compares to the net income of $69.9 million seen in Q2 2025.
Gross premiums written grew to $1.4 million compared to $1.1 million in the same period last year, while net premiums written reached $1.4 million, increasing from $1.1 million in Q2 2025.
Net premiums earned increased to $3.5 million, up from $2.4 million in the prior year quarter.
For the first half of 2026, Kestrel reported total revenues of $16.9 million, compared to $6.4 million reported for the first half of 2025.
The period also experienced a net loss of $15.5 million, compared to the net income of $69.5 million seen in H1 2025.
Gross premiums written for the six-month period expanded to $4.1 million from $1.1 million in H1 2025; net premiums written posted similar results. Net premiums earned reached $6.6 million, up from H1 2025’s $2.4 million.
According to Kestrel, growth was supported by the company’s Program Services segment, which provides fronting services to general agents and insurance carriers seeking access to the US property and casualty market.
In Q2 2026, total fee revenues from the Program Services segment were $3.7 million, a 587.9% increase over Q2 2025, a combination of expanding existing and new client accounts.
Premiums produced by client programs during the period totalled $109.6 million, a 479.8% increase over Q2 2025.
The second quarter results bring the segment’s fee income to $4.0 million for H1 2026 compared to fee income of $12.0 thousand for the same period in 2025.
Fee revenue increased to $6.9 million for H1 2026 compared to $1.4 million for the same period last year, resulting from higher premium produced by both new and existing client programs.
Premium produced by client programs for the six months ended June 30, 2026 totalled $203.8 million, a 382.5% increase over the same period in 2025.
Commenting on the results, Kestrel’s Chief Executive Officer, Luke Ledbetter, stated: “We continue to see excellent progress in our Program Services segment, with fee income, fee revenue and premium produced up again, both sequentially from the first quarter of 2026 and year-over-year.
“This is an encouraging sign as we execute on our growing pipeline of opportunity. While we work to maximise efficiency and enhance operating leverage, we believe Kestrel is well positioned to build on recent momentum within the Program Services segment and deliver continued improvement over time.”
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