Company: KNSL
Filing Date: 2025-04-24
Form Type: 10-Q
Source: 0001669162-25-000027
Chunk: 26

Company: Kinsale Capital Group, Inc.
Filing Date: 2025-04-24
Form: 10-Q
Item: Item 1
Chunk 26
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 gains or losses in current period earnings. The related tax effect of the reclassification adjustment is recorded in income tax expense in current period earnings. See Note 2 for additional information.

15.      Segment information

The Company has one reportable segment, the Excess and Surplus Lines Insurance segment, which primarily offers commercial excess and surplus lines liability and property insurance products through its underwriting divisions in the United States. The Company reports operating and financial results in a single segment based on the Company's exclusive focus on property and casualty insurance in the excess and surplus lines market and the consolidated information used by the chief operating decision maker ("CODM") in evaluating the financial performance of its business and allocating resources.The Company's CODM is the Chief Executive Officer. The CODM uses consolidated net income to allocate resources primarily during the annual budgeting process and uses that measure to assess performance by considering budget-to-actual variances and evaluating financial results. The measure of segment assets is reported on the consolidated balance sheets as total assets. 

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Table of Contents

Three Months Ended March 31,20252024(in thousands)Revenues:Net earned premiums$365,790 $309,518 Fee income9,559 8,092 Net investment income43,819 32,933 Change in fair value of equity securities3,038 18,053 Net realized investment gains537 3,866 Change in allowance for credit losses on investments(20)10 Other income (1)674 319 Total revenues423,397 372,791 Expenses:Losses and loss adjustment expenses – current year225,047 194,654 Losses and loss adjustment expenses – catastrophes22,578 578 Losses and loss adjustment expenses – prior year development(14,649)(8,446)Net commissions incurred35,680 31,539 Salaries, employee benefits and bonus expense29,209 24,716 Credit loss expense – premiums receivable3,124 4,263 Depreciation (2)1,107 875 Interest expense2,538 2,422 Other segment items (3)6,452 6,323 Income tax expense23,084 16,926 Segment net income89,227 98,941 Reconciliation of profit or loss:Adjustments and reconciling items— — Consolidated net income$89,227 $98,941 (1) Other income primarily includes