Company: KNSL
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001669162-25-000010
Chunk: 8

Company: Kinsale Capital Group, Inc.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1
Chunk 8
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 an important part of that relationship, but brokers will also typically consider the ultimate price to the insured, and the service and expertise offered by the carrier when determining where to place their business. In 2024, we paid an average commission to our brokers of 14.7% of gross written premiums. We believe this is slightly lower than the average commission paid by our competitors. We believe that our specialization in hard-to-place risks, combined with our high degree of service, including our rapid response times, permits us to manage our commission expense as part of our overall management of the underwriting process. Additionally, we do not contract out our underwriting to program managers or general agents which typically requires a higher commission level to compensate the third party for its work on behalf of the carrier.

5

We sell policies in all 50 states, the District of Columbia, the Commonwealth of Puerto Rico and the U.S. Virgin Islands. The following tables show our gross written premiums by state for the years ended December 31, 2024, 2023 and 2022.

Year Ended December 31,2024% of Total2023% of Total2022% of Total($ in thousands)Gross written premiums by state:California$352,082 18.8 %$295,242 18.8 %$221,994 20.1 %Florida291,849 15.6 %266,153 17.0 %186,891 17.0 %Texas250,200 13.4 %198,758 12.7 %136,309 12.4 %New York80,144 4.3 %66,489 4.2 %42,427 3.9 %Louisiana56,819 3.0 %49,970 3.2 %30,981 2.8 %Washington51,588 2.8 %46,507 3.0 %40,546 3.7 %Colorado50,734 2.7 %43,852 2.8 %32,406 2.9 %New Jersey47,057 2.5 %42,061 2.7 %30,425 2.8 %Georgia43,478 2.3 %36,585 2.3 %23,539 2.1 %Pennsylvania41,494