Company: KNSL
Filing Date: 2025-04-24
Form Type: 10-Q
Source: 0001669162-25-000027
Chunk: 13

Company: Kinsale Capital Group, Inc.
Filing Date: 2025-04-24
Form: 10-Q
Item: Item 1
Chunk 13
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382,469 (53,994)Commercial mortgage-backed securities92,024 (960)53,812 (3,878)145,836 (4,838)Total fixed-maturity securities$1,053,882 $(13,406)$938,410 $(123,636)$1,992,292 $(137,042)Contractual maturities of available-for-sale fixed-maturity securitiesThe amortized cost and estimated fair value of available-for-sale fixed-maturity securities at March 31, 2025 are summarized, by contractual maturity, as follows:March 31, 2025AmortizedEstimatedCostFair Value(in thousands)Due in one year or less$410,141 $410,644 Due after one year through five years1,080,085 1,076,016 Due after five years through ten years569,277 560,390 Due after ten years230,284 191,965 Asset-backed securities737,396 742,725 Residential mortgage-backed securities554,216 510,019 Commercial mortgage-backed securities226,947 224,494 Total fixed-maturity securities $3,808,346 $3,716,253 Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties, and the lenders may have the right to put the securities back to the borrower.

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Table of Contents

Real estate investmentsReal estate investments represents directly owned property held for investment purposes and consisted of land with a carrying value of $15.0 million at March 31, 2025 and December 31, 2024, respectively. There was no accumulated depreciation on real estate investments at March 31, 2025 and December 31, 2024.Net investment incomeThe following table presents the components of net investment income for the three months ended March 31, 2025 and 2024:Three Months Ended March 31,20252024(in thousands)Interest:Taxable bonds$41,482 $31,391 Tax exempt municipal bonds356 439 Cash equivalents and short-term investments1,130 543 Dividends on equity securities1,953 1,376 Real estate investment income— 153 Gross investment income44,921 33,902 Investment expenses(1,102)(969)Net investment income$43,819