Company: KNSL
Filing Date: 2025-04-24
Form Type: 10-Q
Source: 0001669162-25-000027
Chunk: 61

Company: Kinsale Capital Group, Inc.
Filing Date: 2025-04-24
Form: 10-Q
Item: Item 8
Chunk 61
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 not that the Company would not be required to sell before recovery of its amortized cost, the Company compares the estimated present value of the cash flows expected to be collected to the amortized cost of the security. Inputs into the cash flow analysis include default rates and recoverability rates based on credit rating. The extent to which the estimated present value of the cash flows expected to be collected is less than the amortized cost of the security represents the credit-related portion of the impairment, which is recognized in net income through an allowance for credit losses. Any remaining decline in fair value represents the noncredit portion of the impairment, which is recognized in other comprehensive income.The Company reports investment income due and accrued separately from available-for-sale investments and has elected not to measure an allowance for credit losses for investment income due and accrued. Investment income due and accrued is written off through earnings at the time the issuer of the bond defaults or is expected to default on payments.At March 31, 2025, the Company's credit loss review resulted in an allowance for credit losses on four securities. The following table presents changes in the allowance for expected credit losses on available-for-sale securities for the three months ended March 31, 2025 and 2024:Three Months Ended March 31,20252024(in thousands)Beginning balance$27 $553 Increase to allowance from securities for which credit losses were not previously recorded— — Reduction from securities sold during the period(12)— Net increase (decrease) from securities that had an allowance at the beginning of the period32 (10)Ending balance$47 $543 

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The following tables summarize gross unrealized losses and estimated fair value for available-for-sale investments by length of time that the securities have continuously been in an unrealized loss position:March 31, 2025Less than 12 Months12 Months or LongerTotalEstimated Fair ValueGross Unrealized LossesEstimated Fair ValueGross Unrealized LossesEstimated Fair ValueGross Unrealized Losses(in thousands)Fixed-maturity securities:U.S. Treasury securities and obligations of the U.S. government agencies$292 $(3)$6,692 $(289)$6,984 $(292)Obligations of states, municipalities and political subdivisions8,283 (130)119,497 (20,573)127,780 (20,703)Corporate and other securities415,687 (3,265)435,932 (38,