Kestrel Group Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Net Income	66.16	0.32	-4.22
Stock-Based Compensation	0.06	0.06	0.06
Change in Accounts Receivable	-0.15	-0.15	-
Change in Accounts Payable	-1.42	-1.42	1.71
Change in Other Net Operating Assets	28.6	-0.14	-0.1
Other Operating Activities	-69.98	0.07	0.07
Operating Cash Flow	-30.65	-1.27	-2.49
Net Cash Flow	34.26	-1.27	-2.49
Levered Free Cash Flow	-	-1.37	-
Unlevered Free Cash Flow	-	-1.37	-
Change in Working Capital	-18.43	-1.72	1.6

Source: S&P Global Market Intelligence. Insurance template. Financial Sources.

SEC Filings: 10-K · 10-Q