** Shares of specialty insurance firm Kestrel Group KG.O begin trading on the Nasdaq under ticker symbol "KG" after merger completion with Bermuda-based Maiden Holdings

** Shares jump as much as 60%, last up 37.8% at $31.71

** In December, the companies had agreed to combine their business in deal that valued Kestrel at up to $167.5 million

** "The combination with Maiden positions our business to capitalize on favorable market opportunities and accelerates our growth plan to become a leading specialty program group nationwide" - Kestrel CEO Luke Ledbetter

** Maiden last year decided to make a strategic pivot away from asset management to a fee-based insurance platform with Kestrel transaction

** Kestrel offers admitted and surplus insurance offerings across in the U.S.

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))