Company: KNSL
Filing Date: 2025-04-24
Form Type: 10-Q
Source: 0001669162-25-000027
Chunk: 14

Company: Kinsale Capital Group, Inc.
Filing Date: 2025-04-24
Form: 10-Q
Item: Item 1
Chunk 14
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 $32,933 There was no depreciation expense related to real estate investments for the three months ended March 31, 2025 or three months ended March 31, 2024 as the Company sold the related assets during 2023.Realized investment gains and lossesThe following table presents realized investment gains and losses for the three months ended March 31, 2025 and 2024:Three Months Ended March 31,20252024(in thousands)Fixed-maturity securities:Realized gains$773 $95 Realized losses(791)(106)Net realized losses from fixed-maturity securities(18)(11)Equity securities:Realized gains2,465 3,881 Realized losses(1,910)— Net realized gains from equity securities555 3,881 Realized losses on sale of real estate investments— (4)Net realized investment gains$537 $3,866 

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Table of Contents

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 securitiesFor the three months ended March 31, 2025 and 2024, the change in net unrealized gains (losses) for fixed-maturity securities was $33.4 million and $(12.6) million, respectively. Insurance – statutory depositsThe Company had invested assets with a fair value of $3.9 million and $3.7 million on deposit with state regulatory authorities at March 31, 2025 and December 31, 2024, respectively.Payable for investments purchasedThe Company recorded a payable for investments purchased, not yet settled, of $37.7 million at March 31, 2025. The Company did not have a payable for investments purchased at December 31, 2024, respectively. 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