Company: KNSL
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001669162-25-000010
Chunk: 154

Company: Kinsale Capital Group, Inc.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 154
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 taxes(2,308)39,013 (153,236)Less reclassification adjustment:Net realized investment (losses) gains on available-for-sale investments(170)(1,443)121 Income tax benefit (expense)36 303 (25)Reclassification adjustment included in net income(134)(1,140)96 Change in allowance for credit losses on investments, before income taxes526 (187)(366)Income tax (expense) benefit(111)39 77 Reclassification adjustment included in net income415 (148)(289)Other comprehensive (loss) income$(2,589)$40,301 $(153,043)The sale of or credit loss on an available-for-sale security results in amounts being reclassified from accumulated other comprehensive income to realized 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 and underwriting 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. Additionally, while the 

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Company's individual underwriting divisions are evaluated on premium volume, the CODM does not use discrete financial information for measures of profit or loss in making resource allocation decisions.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. The accounting policies used to prepare the segment reporting data are the same as those described in Note 1. Year Ended December 31,202420232022(in thousands)Revenues:Net earned premiums$1,350,470 $1,072,537 $794,119 Fee income34,118 27,026 19,604 Net investment income150,287 102,335 51,282 Change in fair value of equity securities43,367 15,277