Company: KNSL
Filing Date: 2025-04-24
Form Type: 10-Q
Source: 0001669162-25-000027
Chunk: 7

Company: Kinsale Capital Group, Inc.
Filing Date: 2025-04-24
Form: 10-Q
Item: Item 1
Chunk 7
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,524 Restricted shares withheld for taxes(11,318)— (5,842)— — — (5,842)Dividends declared ($0.15 per share)— — — (3,479)— — (3,479)Other comprehensive loss, net of tax— — — — (9,940)— (9,940)Net income— — — 98,941 — — 98,941 Balance at March 31, 202423,275,915 $233 $351,584 $923,709 $(104,557)$— $1,170,969 

See accompanying notes to condensed consolidated financial statements.

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KINSALE CAPITAL GROUP, INC. AND SUBSIDIARIES

Condensed Consolidated Statements of Cash Flows (Unaudited)

Three Months Ended March 31,20252024(in thousands)Operating activities:Net cash provided by operating activities$229,779 $210,359 Investing activities:Purchase of property and equipment(12,139)(3,511)Purchase of real estate investment— (227)Change in short-term investments, net(34,999)— Purchases – fixed-maturity securities(369,457)(297,392)Purchases – equity securities(42,710)(49,766)Sales – fixed-maturity securities106,974 67,795 Sales – equity securities11,585 10,123 Maturities and calls – fixed-maturity securities144,678 80,464 Other15,107 — Net cash used in investing activities(180,961)(192,514)Financing activities:Payroll taxes withheld and remitted on share-based payments(6,248)(5,842)Proceeds from stock options exercised235 933 Dividends paid(3,993)(3,498)Treasury stock acquired – share repurchases(9,999)— Net cash used in financing activities(20,005)(8,407)Net change in cash and cash equivalents28,813 9,438 Cash and cash equivalents at beginning of year113,213 126,694 Cash and cash equivalents at end of period$142,026 $136,132 

See accompanying notes to condensed consolidated financial statements.

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KINSALE CAPITAL GROUP, INC. AND SUB