Company: KNSL
Filing Date: 2025-10-23
Form Type: 10-Q
Source: 0001669162-25-000058
Chunk: 26

Company: Kinsale Capital Group, Inc.
Filing Date: 2025-10-23
Form: 10-Q
Item: Item 1
Chunk 26
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, 2023 developed favorably by $28.1 million, of which $45.6 million was attributable to the 2021 through 2023 accident years due to lower emergence of reported losses than expected across most lines of business. This favorable development was offset in part by adverse development primarily from the 2017 through 2019 accident years due to construction defect claims that are more exposed to inflation and from the 2020 accident year due to a large property claim. Incurred losses and loss adjustment expenses for the nine months ended September 30, 2024 included $17.6 million of net catastrophe losses primarily related to Hurricanes Helene, Francine and Beryl and tornadoes in the Midwest. 

12.     Reinsurance

The following table summarizes the effect of reinsurance on premiums written and earned for the three and nine months ended September 30, 2025 and 2024:Three Months Ended September 30,Nine Months Ended September 30,2025202420252024(in thousands)Premiums written:Direct$486,251 $448,646 $1,526,048 $1,427,060 Ceded(81,191)(98,709)(280,583)(295,833)Net written$405,060 $349,937 $1,245,465 $1,131,227 Premiums earned:Direct$497,795 $450,583 $1,444,905 $1,283,710 Ceded(86,838)(101,831)(284,545)(292,979)Net earned$410,957 $348,752 $1,160,360 $990,731 The following table summarizes ceded losses and loss adjustment expenses for the three and nine months ended September 30, 2025 and 2024:Three Months Ended September 30,Nine Months Ended September 30,2025202420252024(in thousands)Ceded incurred losses and loss adjustment expenses$18,568 $22,698 $106,727 $92,903 The following table presents reinsurance recoverables on paid and unpaid losses as of September 30, 2025 and December 31, 2024:

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September 30, 2025December 31, 2024(in thousands)Reinsurance recoverables on paid losses$10,834 $14,831 Reinsurance recoverables on unpaid