Company: KNSL
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001669162-25-000010
Chunk: 133

Company: Kinsale Capital Group, Inc.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 133
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 (losses) gains on sale of real estate investments(5)4,250 — Net realized investment gains$6,831 $6,040 $1,191 The net realized gains or losses on sales of equity securities represent the total gains or losses from the purchase dates of the equity securities. The change in unrealized gains (losses) in the consolidated statement of income consists of two components: (1) the reversal of the gain or loss recognized in previous periods on equity securities sold and (2) the change in unrealized gain or loss resulting from mark-to-market adjustments on equity securities still held.Change in net unrealized gains (losses) on fixed-maturity securitiesThe change in net unrealized gains (losses) for fixed-maturity securities was $(3.3) million, $51.0 million, and $(193.7) million for the years ended December 31, 2024, 2023, and 2022, respectively. Insurance – statutory depositsThe Company had invested assets with a carrying value of $3.7 million and $5.8 million on deposit with state regulatory authorities at December 31, 2024 and 2023, respectively.Payable for investments purchasedThe Company did not have a payable for investments purchased at December 31, 2024. The Company recorded a payable for investments purchased, not yet settled, of $12.3 million at December 31, 2023. The payable balance was included in the other liabilities line item of the consolidated balance sheet.

3.     Fair value measurements

Fair value is estimated for each class of financial instrument based on the framework established in the fair value accounting guidance. Fair value is defined as the price in the principal market that would be received for an asset or paid to transfer a liability to facilitate an orderly transaction between market participants on the measurement date. Market participants are assumed to be independent, knowledgeable, able and willing to transact an exchange and not acting under duress. Fair value hierarchy disclosures are based on the quality of inputs used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Adjustments to transaction prices or quoted market prices may be required in illiquid or disorderly markets in order to estimate fair value.

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The three levels of the fair value hierarchy are defined as follows:Level 1 - Inputs