Company: KNSL
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001669162-25-000010
Chunk: 155

Company: Kinsale Capital Group, Inc.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 155
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(27,723)Net realized investment gains6,831 6,040 1,191 Change in allowance for credit losses on investments526 (187)(366)Other income (1)1,926 1,421 697 Total revenues1,587,525 1,224,449 838,804 Expenses:Losses and loss adjustment expenses - current year785,036 631,407 467,182 Losses and loss adjustment expenses - catastrophes25,518 4,586 26,618 Losses and loss adjustment expenses - prior year development(37,655)(35,774)(35,887)Net commissions incurred134,184 113,717 93,756 Salaries, employee benefits and bonus expense109,319 85,689 64,765 Credit loss expense - premiums receivable17,397 9,790 5,988 Depreciation (2)4,686 2,655 2,267 Interest expense10,134 10,301 4,284 Other segment items (3)24,190 18,061 14,267 Income tax expense99,873 75,924 36,450 Segment net income414,843 308,093 159,114 Reconciliation of profit or loss:Adjustments and reconciling items— — — Consolidated net income$414,843 $308,093 $159,114 (1) Other income primarily includes income generated from the Company's real estate operations.(2) Excludes depreciation expense allocated to loss adjustment expenses and investment expenses(3) Other segment items primarily includes other general and administrative expenses such as technology costs, facility expenses and audit and inspection costs.

102

Gross written premiums by underwriting division are presented below:Year Ended December 31,202420232022(in thousands)Commercial:Commercial Property$456,170 $411,956 $181,505 Excess Casualty245,137 194,049 147,485 Small Business Casualty195,593 174,080 149,366 General Casualty169,162 118,745 69,784 Construction148,333 137,887 122,524 Allied Health83,058 67,808 58,839 Small Business Property76,800 43,893 21,002 Products Liability67,035 61,