Company: KNSL
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001669162-25-000010
Chunk: 13

Company: Kinsale Capital Group, Inc.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1
Chunk 13
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 property coverages.

The following is a summary of our significant reinsurance programs as of December 31, 2024:

Line of Business CoveredCompany Policy LimitReinsurance CoverageCompany RetentionProperty (1)Up to $10.0 million per occurrence50% up to $379.8 million per catastrophe50% of commercial property lossesProperty - catastrophe (2)N/A$175.0 million excess of $60.0 million$60.0 million per catastrophePrimary casualty (3)Up to $10.0 million per occurrence$8.0 million excess of $2.0 million$2.0 million per occurrenceExcess casualty (4)Up to $10.0 million per occurrenceVariable quota share$2.5 million per occurrence as described in note (4) below

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(1)    Our property quota-share reinsurance reduces the financial impact of property losses on our commercial property, small business property, high value homeowners and inland marine policies up to a loss recovery of $189.9 million for an event. This reinsurance is not applicable to any individual policy with a limit of $2.0 million or less.

(2)    Our property catastrophe reinsurance reduces the financial impact of a catastrophe event involving multiple claims and policyholders. Our property catastrophe reinsurance includes a reinstatement provision which requires us to pay reinstatement premiums after a loss has occurred in order to preserve coverage. Including the reinstatement of coverage, the maximum aggregate loss recovery limit is $350.0 million. This coverage applies after the coverage provided by the commercial property quota-share treaty.

(3)    This reinsurance is not applicable to any individual policy with a per-occurrence limit of $2.0 million or less.

(4)    For excess casualty policies with a per-occurrence limit higher than $2.5 million, the ceding percentage varies such that the retention is always $2.5 million or less. For example, for a $5.0 million limit excess policy, our retention would be 50%, whereas for a $10.0 million limit excess policy, our retention would be 25%. For policies for which we also write an underlying primary limit, the combined retention on the primary and excess policies would not exceed $2.5 million. This reinsurance is not applicable to any individual policy with a per-occurrence limit of $2.5 million or less.

Reinsurance contracts do not relieve us from our obligations to policyholders. Failure of the reins